All articles by Martin Steward – Page 14
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Asset Class Reports
Hedge Funds: Angling for alpha: pension funds talk hedge funds
When he isn’t managing the alpha traders at Denmark’s state pension fund, ATP Alpha CEO Fredrik Martinsson likes nothing better than to get out with his rod and line – so it’s no surprise that he reaches for an angling metaphor to explain his understanding of alpha.
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Special ReportAsset Allocation: Raincoat and sunglasses
Today’s distorted and correlated markets confound asset allocation. Martin Steward asks when normalisation will be restored, and how to manage the transition
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Interviews
Bridges to somewhere
Mark Weisdorf knows a thing or two about how and why pension funds invest in infrastructure assets. Before joining JP Morgan Asset Management (JPMAM) to set up its infrastructure investments group in 2006 he developed the real estate, private equity and infrastructure strategies for the Canada Pension Plan Investment Board’s CA$130bn (€92bn) portfolio, experience that led to his founding Mark Weisdorf Associates, a consultancy dedicated to advising institutional investors on their allocations to these asset classes.
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Special ReportInflation Assets: Timber
Investors recognise the inflation-hedging properties of timberland. Martin Steward asks whether it can be managed for regular inflation-linked cash flows
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Special Report
Inflation Assets: Safe as houses
Martin Steward looks at some alternative real estate-related cash flows for their inflation-sensitivity and minimal exposure to capital value volatility
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NewsPGGM unveils exclusive hedge fund platform
NETHERLANDS – The €100bn asset manager PGGM is planning to invest directly in selected hedge funds to increase transparency and cut costs.
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NewsFrench U-turn brings 'passport' for non-EU AIFMs closer to reality
EUROPE – French authorities' decision not to oppose draft legislation giving alternative investment funds from outside the EU pan-EU marketing rights has brought the 'passport' regime closer to reality, according to Ben Blackett-Ord, chief executive of asset management consultancy firm Bovill.
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News
Editor's Choice: Interview with Bridgewater's Ray Dalio
Martin Steward speaks with Bridgewater Associates founder Ray Dalio, pioneer of alpha/beta separation and ‘risk parity’
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News
Editor's Choice: Why defining 'currency beta' is harder than you might think
Portfolio engineering with FX exposures would be much simpler if we could identify its beta. Martin Steward looks at the range of candidates
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NewsSurvey paints grim picture for UK auto-enrolment
UK – A new survey of 258 UK pensions professionals paints a worrying picture of preparedness for auto-enrolment in 2012, as well as growing acceptance that insurance buyout or buy-in should be a de-risking option for the future.
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Interviews
Facing forward, facing outward
Janus was the Roman god of doorways, and by extension of beginnings and endings. Double-faced, he looked both forward and backward, which is why he lent his name to the month of January. Janus Capital Group also takes its name from this god, but rather than facing forward and backward, ...
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Special ReportCurrency: Common currency
Portfolio engineering with FX exposures would be much simpler if we could identify its beta. Martin Steward looks at the range of candidates
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FeaturesThe truly balanced portfolio
Martin Steward spoke with the pioneer of alpha/beta separation and ‘risk parity’ about strategic diversified beta portfolios
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Features
Barbarians at the gate
Gold may be a good hedge against an investment portfolio’s fiat currency exposures. But, Martin Steward asks, does it matter that some investors may be holding it for very different reasons?
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NewsAsset managers set to consolidate, increase scale, says State Street
GLOBAL – Fewer and bigger players applying capabilities across a broad range of asset classes and strategies to deliver solutions rather than products – is the future of Europe's asset management industry as it goes through "unprecedented" change, according to State Street's latest VisionFocus.
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NewsPension chiefs gloomy on future of Nordic region's welfare model
EUROPE – Senior chiefs from some of Scandinavia's biggest pension funds painted a gloomy picture of the future of the Nordic social welfare model at a recent Nordic Chambers of Commerce event in London.
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FeaturesNatural Catastrophe Risk - Cats land on their feet
Catastrophe risk delivered positive returns in 2008 amid rising downside correlation but was not immune from credit exposure, finds Martin Steward
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Special Report
Securities Services: Managed accounts: an efficient way to build hedge fund portfolios?
There has been a buzz around managed accounts for some time – but the problems with liquidity mismatches and outright fraud that bubbled up in 2008, and investors like CalPERS setting out plans to use them wherever they can, seem to have made the case even more airtight.
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Special Report
Securities Services: Liabilities into assets
As large, maturing pension schemes turn to liability-driven investing, Benjie Fraser talks to Martin Steward about the opportunities available to custodians that can draw on broader institutional capacity and expertise
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Interviews
From growth to profitability
Arjun Divecha likes to talk personal hygiene. In particular he likes to tell a story about HengAn International, China’s leading producer of sanitary towels and diapers.
