All IPE articles in November 2009 (Magazine)
View all stories from this issue.
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Opinion Pieces
WMD under fire
Brussels is set to regulate the over-the-counter derivatives market, but it could still be some time, perhaps years, before the European Commission achieves implementation of any legislative steps across the member states.
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Opinion Pieces
Con Keating, head of research, BrightonRock Group
The September edition of IPE contained articles on valuation, securities lending, collateral management and lessons from the financial crisis. Observations such as: ‘any exposure needs to be collateralised’ and ‘an aggressive move to daily margining’ set the tone but also brought to mind the Vietnam War era expression ‘collateral damage’.
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Features
Turning a crisis into an opportunity
In the fourth article on a new study, Amin Rajan and Jervis Smith argue that extraordinary times offer an opportunity to create businesses of enduring value
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Country ReportDanes fly the green flag
New reporting rules will ensure that Denmark’s pension funds continue to push out the boundaries of social responsiblity in a country that’s already a world leader in green energy development, finds Rachel Fixsen
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Country Report
Finland:New law to boost retirement saving
Pirkko Juntunen gives a roundup of the Finnish government’s proposals to boost pension saving and expose mutual pension providers to outside competition
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Country Report
Iceland:One year on
Iceland’s pension funds were subject to emergency currency controls as the country underwent unprecedented turmoil and de facto insolvency. Nina Röhrbein assesses the problems faced by Iceland’s pension funds as the country searches for a route to economic recovery
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Country Report
Sweden AP funds prepare for future
Sweden is far from resting on its pension reform laurels, the social security minister tells Pirkko Juntunen
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Country Report
AP1 New strategic focus
Shifting its focus to asset allocation and risk management and realising the importance of finding new and more efficient ways of managing assets was already apparent to Sweden’s AP1, the First National Pension Fund, ahead of what has become the worst financial crises and economic downturn in modern history.
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Country Report
AP2 Back to basics
It is often said that there is nothing like a crisis to focus the mind. This is certainly true of AP2, the Second Swedish National Pension fund, which has come through the turmoil with a new focus and a streamlined investment team.
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Country Report
AP3 Opportunities out of adversity
Despite what most in the financial sector would call a truly annus horibilis, the Third National Pension Fund in Sweden, warns against panicking and staring yourself blind on one bad year, particularly as an investor with a long investment horizon. Instead the management of the fund continues to focus on ...
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Country Report
AP4 Improvements despite criticism
Public pension funds are scrutinised in general and every decision is under the microscope, perhaps more so than in most areas in Sweden, with its tradition of open and transparent governance.
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Country Report
AP7 New directive leads to overhaul
It is probably fair to say that most pension fund managers are glad that 2009 is coming to an end and are looking towards 2010 with hope and apprehension rather than excitement. In Sweden there are, however, at least two pension fund professionals who are excited about the future.
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Country Report
Price for Norwegian DB guarantees
The Norwegian pensions oligopoly can only be challenged if employers transfer pensions to an IORP structure, argues Christian Fotland
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Asset Class Reports
EM debt comes of age through crisis
No one would envy the job that developed market pension fund managers face over the next few years. After the huge destruction in wealth brought about by last year’s credit crisis, they have a lot of catching up to do.
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Special Report
Refashioning beta
The emergence of alternative systematic equity indices raises profound questions about how we define ‘the market’, and how pension funds should benchmark and invest their core portfolios, writes Martin Steward
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Special Report
Case for new forms of equity indices
Stockmarket index providers should design their indices to help investors construct efficient portfolios rather than just focusing on being representative of the overall market, argues Felix Goltz
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Special Report
FoHFs – a good move for institutional investors?
As more and more investors begin allocating direct to hedge funds or using replication and index products, Stephen Oxley and Lisa Fridman offer a defence of the fund of funds
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Special Report
Multi-strategy gains currency
Investors should adopt a broad and diversified approach when investing in currency markets, finds Lynn Strongin Dodds
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Special Report
Tap into secondary market
Attractive opportunities are continuing to emerge in the secondary market for hedge funds as a result of recent liquidity challenges, writes John Anderson
