All IPE articles in November 2002 (Magazine) – Page 3
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Features
Euro-zone could be weakest link
Historically, there has been a rather close relationship between the relative performance of US equities against bonds and the year on year change of the OECD leading indicator. This should not come as a surprise because, after all, the behaviour of investors is, to some extent, a function of their ...
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Features
Expectations management
There’s nothing wrong with pension funds per se, according to EFRP chairman Alan Pickering, rather it’s our outdated expectations of what they ought to deliver. Falling markets, increasing longevity, lower birth rates and annuity level have done no more than show the unsustainability of retirement levels. “People around the world ...
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Features
Foundation of future strategies
The growth of securities indexing has been one of the most significant investment trends over the past decade. In times of bear markets its value is regularly questioned, but indexation has an established place in institutional investment and continues to develop as a tool for investors. So what has been ...
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Features
Tasters of world fund styles
o The Merrill Lynch Global Equity Fund currently has more than half of its $302.3m in assets invested in US stocks. But because the fund takes a bottom-up approach to stock selection, says Graham Bamping, retail investment director at Merrill Lynch Investment Management, geographical distribution is not the driving force ...
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Features
Getting a grip on markets
Rick Lacaille, head of the structured product group at State Street Global Advisors is optimistic about the long-term growth prospects for indexing across the Europe – despite the current market turmoil. For Lacaille, the gradual shift by European pension funds from fixed income into equity is part of the same ...
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Features
Going regional to go global
Recently, Angelien Kemna took the paradoxical step at ING Investment Management of changing her role from global CIO to that of European CIO and at the same time CEO, sharing the rest of the globe with her opposite numbers in the US and Asia-Pacific. A move made so the group, ...
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Features
Portugal goes on hold
The start of the year in Portugal was marked by political uncertainties marked by the resignation of prime minister António Guterres following local election defeats. This, added to the disappointing performance in the financial markets and the unhealthy Portuguese economy, has resulted in a difficult period for the development of ...
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Features
World 'not going under'
“It has been grim. We haven’t seen conditions like these for years”, says Pictet’s Rajeev de Mello, “and no we don’t think there’s light at the end of the tunnel.” As a fixed income fund manager shouldn’t he be happy with rates continuing to fall? Is he a hedge fund ...
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Features
Staying out of the headlines
Eighteen months ago employee benefits accounting was considered a fairly dull subject, of little interest to anyone not directly involved in annual reporting activity. In recent months employee benefits accounting has received huge media interest and all stakeholders are now paying attention. What catapulted employee benefits accounting to the top ...
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Special Report
Message from on high
Hermes, the pensions management firm, wholly-owned by the BT pension scheme, is living up to its moniker with the unveiling of its new corporate governance charter – ‘The Hermes Principles’, which it believes could send an important message to institutional shareholders about how they invest in companies. The 10 principles, ...
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Features
Knowing how you're doing
As the markets continue to go through difficult and unsettled times, investors are demanding more reporting on performance and attribution, both in terms of frequency and depth. Funds and asset managers are under pressure to meet international standards of reporting and to make their reports more accessible, including daily, if ...
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Features
Limits to indexing
With passive investment on the rise, providers are seeking to make indices out of anything that will fit. Equities are now indexed by sector, sub-sector, region, style and environmental record, and fixed income indices can be tracked successfully by institutional and retail investors alike. Commodities too, can now be held ...
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