All IPE articles in November 2005 (Magazine) – Page 3
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Special Report
Inclusion boosts engagement
In September independent Stockholm-based SRI analysis house GES Investment Services launched a web-based extension to its active engagement service that will enable its institutional investor clients to become more involved in the engagement process. “There is a need for an engagement/discussion forum for clients,” says GES marketing director Henrik Af ...
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Features
Breaking the stranglehold
One of the myths about Germany is that it is becoming less attractive to foreigners wanting to do business. Spreaders of the myth – typically neo-liberal-minded industrialists, economists and politicians – say that unless Germany lowers its labour costs, cuts its taxes and streamlines its bureaucracy, it will attract fewer ...
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Features
Pensionsfonds bright future
Aleading German pensions adviser, Richard Herrmann of consulting firm Heubeck, sees a strong future for German Pensionsfonds. The funds - Germany’s answer to the equity-oriented Anglo-Saxon pension fund - should double their assets every two years now that the government has boosted their competitiveness, he says. In implementing the EU ...
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Features
The bull in the china shop
It is a new dawn over Eindhoven for the investment team for the Philips Pension Fund. This autumn it joined the thundering herd of Merrill Lynch Investment Managers (MLIM), one of the largest asset managers in the world with $478bn (e396bn)under management. The deal, completed in September, is a boon ...
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Features
Three things for a great business
Historically the New York-based asset manager BlackRock International has never set out to be a big hitter. It has preferred to build up its score steadily. Ralph Schlosstein, the co-founder and president of BlackRock agrees that, for the fixed income business for which his firm is best known, this an ...
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Features
The case for keeping it simple
Pension funds are doing well in solving disputes with their members, and they are even improving. This is the view of Dutch Pensions Ombudsman Piet Keizer. “There is a clear trend towards better information and dealing with members’ complaints. A growing number of funds have their own complaints’ schemes, which ...
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Features
Cautious tack keeps pensions flowing
It is the proud boast of the Sparinstitutens Pensionkassa (SPK), the pension fund for Sweden’s savings banks, that it has never been underfunded since it was created in 1944. The fund, a defined benefit scheme, has ridden out the recent storms in the equity markets, principally because of its conservative ...
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Features
The fixed income game changes
As well as making sure the actively managed portions of their equity portfolios are working as hard as possible, institutional investors have also become more focused on how their fixed-income portfolios are managed. “In terms of targeting outperformance, I’ve noticed a real shift in the last few years,” says Paul ...
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Features
Specialist managers come into their own
The rationale for core-satellite investing is becoming more widely accepted - at least in theory - say asset managers, and the approach gives specialist active management a high profile role. Pension funds are increasingly adopting a core-satellite approach to their investment, says John Cleary, chief investment officer at Standard Asset ...
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Features
More coming custodians' way
The new regulatory framework for the Dutch market, Financieel Toetsingskader (nFTK), has provided a rich seam of business for Kas Bank, the Dutch custody, clearing and settlement specialist. In the first half of 2005 to 30 June, the bank recorded a 30% rise in net profit to €9m, while total ...
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Features
More to communication than links
Consensus is growing both within and outside of the pension world that clearness and transparency about complex pension schemes is needed. Yet the quality of communication between funds and participants and pensioners is often criticised. Have pension funds and insurers not yet found the best way to communicate, or is ...
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Features
Complex and difficult scene
Despite its under-developed second and third pillar pensions market, Spain is an attractive and competitive market for global custodians. With the European Commission in February urging the Spanish government to embrace pension reform “more vigorously”, there is plenty of scope for growth. Some attempts at reform have been made. The ...
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Features
Working compromise
The Finnish government is the envy of its European counterparts when it comes to the pensions issue. Old age pensions have a minimal impact on Finland’s fiscal situation as no public money goes towards them, the budget only being called upon to provide a basic state pension for those with ...
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Features
Conference illuminates property index
PREA chairman Stephen Furnary opened the combined 2005 Pension Real Estate Association and National Council of Real Estate Investment Fiduciaries conference by telling his audience how the event would give them a better understanding of the NCREIF Property Index. He said: “The index allows us to do a better job ...
