All IPE articles in November 2008 (Magazine) – Page 3
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Special ReportBuy or build?
Some European funds have traditionally managed assets in-house for cost-effective long-term performance. Gail Moss assesses the do-it-yourself approach
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Features
Unsettling times
Yield curve/duration At the very heart of the financial system, money markets remain almost paralysed and it is here that the recovery must start. Neither the global financial market nor the real economy can function without them. Without access to short-term funding, the banks are forced to sell assets as ...
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Features
Setting the rate
Fixing the following year’s minimum return for pension funds is an annual task for the Swiss government. Nathalie Munaretto and Ljudmila Bertschi look at current factors
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Features
Polish reforms take shape
Polish pension reforms began in 1999, but the presentation of new legislation relating to bridging pensions, annuities and the programmed withdrawal of funds suggests the reforms of the second pensions pillar could be completed just as the first pensions are paid next year. Ten years ago, Poland introduced a new ...
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Features
Troubles by the legion
As Iceland’s financial sector went into meltdown, pension funds were called on to play a damage-limitation role. Jenna Gottlieb outlines the evolution of the crisis
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Features
A gradual transformation
The arena for consultants looks much the same from one year to the next but it is changing, George Coats finds
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Special ReportMind the gap
Public sector pension institutions play an important, if often controversial, role in the Swiss pensions arena, argues Graziano Lusenti
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FeaturesLänsförsäkringar’s fruit leaves sour note
Many institutional investors shun hedge funds as opaque in process and therefore difficult to comprehend. Such investors can always fall back on the Warren Buffett adage that if you do not understand something, you should not invest in it. Far rarer are those institutions that have tasted the fruits of ...
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FeaturesThe improving image of EMD
The increasing importance of emerging market debt as an asset class reflects the seismic shift we are witnessing as power and relative wealth moves from the developed markets to the developing, argues Joseph Mariathasan
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Features
The Fannie and Freddie effect
The apparent end of the Fannie Mae and Freddie Mac uncertainty, following the de-facto government takeover in September, sent shares in the two quasi-governmental mortgage lenders tumbling, further decimating the considerable holdings of US pension funds in the mortgage giants. This new ‘conservatorship’ raises immediate questions about the fate of ...
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Features
INVESTMENT DIRECTOR’s DIARY
Revolution at Wasserdicht Pension Funds. The whole investment team is debating the targeting of third-party assets. From Brussels to Vienna and Frankfurt to London, our sharpest minds are congregating in Amsterdam to discuss how we would do this. Jean from Bruxelles began proceedings: “We should ask smaller pension funds to ...
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Features
INVESTMENT DIRECTOR’s DIARY
We have been very busy. Managers have been letting us know of our exposures to financials and we have even been discussing the merits of an ex-financials benchmark. The question is where is the bottom to all this mess? Word of advice: do not rely totally on your black-box quant ...
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Features
Reforms on test from crisis
The global financial crisis has sparked a review of Finnish pension reforms. Reeta Paakkinen reports
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FeaturesFinnish firms keep it cool
Finland’s pension funds remain unfazed by recent market developments although some are reassessing their asset allocation, finds Reeta Paakkinen
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Features
The crunch continues
Yield curve/duration The credit crunch is now manifesting itself in the form of the massive writedowns by scores of financial institutions. The focus has moved from sub-prime to collateralised debt obligations of asset backed securities (CDOs of ABSs) to asset backed commercial paper (ABCP) as the disease spreads to the ...
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