All IPE articles in November 2012 (Magazine)
View all stories from this issue.
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Features
Trusted adviser 2.0
In this third and final article in the current series, Nicholas Lyster and Amin Rajan conclude that, as markets have become disconnected from fundamental value drivers, the role of trusted adviser is gaining traction.
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Country Report
Nordic Region: Time to talk about pensions
Regulatory changes have put the spotlight on how Danish pension funds are communicating with their members, writes Rachel Fixsen
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Features
Pensions Accounting: If at first you don’t succeed...
It was only a matter of time before the issues left unresolved by the International Accounting Standards Board’s 2006 pensions accounting project landed on the desk of the International Financial Reporting Standards interpretations committee.
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Features
On the road again
The convertible bond market finally woke up in September. But Martin Steward finds that there is a long way to go before portfolio managers are out of the woods
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Interviews
Institutional ambition
It probably wasn’t planned this way, but Four Capital Partners was set up by Derrick Dunne and ex-Schroders UK equities managers Tom Carroll, Ted Williams and Chris Rodgers on the precipice of the financial crisis. Established in 2006, its first UK equities fund was launched in April 2007, on the very day that New Century Financial went Chapter 11.
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Interviews
On the Record: Fees take a backseat in manager selection
What approach do you take when selecting managers?
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Special Report
Risk Managed Equities: Smart beta – a cautionary tale
By moving away from the market portfolio smart beta solutions add risk, argues Jeff Molitor. Investors need to be aware of this, and of the fact that taking active risk needs to be well timed
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Opinion Pieces
Letter from Brussels: Lack of trust blamed for low savings
While euro-zone household savings, including retirement provision, grew steadily from around €600bn gross savings at the end of the century to a peak of €910bn in 2009, they fell to €834bn by 2011.
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Features
Bolt-on growth
As a fast-track route to growth with a focus on efficiency gains, buy-and-build seems perfectly-suited to our low-growth world, writes Jennifer Bollen
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Features
Keeping pace with the paper chase
Investors and market players would do well to do one thing when new financial reforms come into force – adapt quickly. A case in point is the European Market Infrastructure Regulation (EMIR) currently being drafted in Brussels.
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Opinion Pieces
Letter from the US: Colleges count losses
US college and university endowments had the worst returns of any insitutional investor in the year ended 30 June 2012
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Features
A cross-border story
Iain Morse reviews Ireland’s custody market as it wakes up to fund rationalisation and thinner margins
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Special Report
Currency Management: Yen and now
Through the 1990s and most of the 2000s the Japanese yen funded a host of the world’s most lucrative carry trades. Daniel Ben-Ami examines whether recent fixes mean that the euro has already shuffled off its role as ‘the yen for the 2010s’
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Special ReportCurrency Management: Still overpaying for FX?
An agency approach to FX execution promises substantial savings. Lloyd Raynor suggests that it is time to give this area more attention
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Special Report
Currency Management: More than one way to play the renminbi
Theory and history suggest that China’s currency should appreciate along with its economic growth. But Charlotte Moore finds investors looking for other routes besides the fast-growing ‘dim-sum’ market
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Interviews
Cutting through the noise
“There is almost universal agreement that the world needs long-term investors and, indeed, that short-termism is bad,” says Keith Skeoch, CEO of Standard Life Investments (SLI), addressing a room of European finance journalists at its Edinburgh offices. “And the reason short-termism is perceived as bad is that the charge sheet is long and serious.”
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Features
Diary of an Investor: Rear-view mirror
A couple of weeks ago I made my way to Amsterdam’s Beurs van Beurlage for a festive evening, the annual dinner of the Dutch Committee of Institutional Investors. It’s always a good occasion to catch up with old friends, even if you’d rather give some of the guests a wide berth.
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Special Report
Risk Managed Equities: The funding dilemma
With its desire to de-risk and its growing deficit, the Strathclyde Pension Fund is one of many ideal candidates for the risk-managed equities experiment. Martin Steward reports on its plans
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Features
Money doesn’t grow on trees
Every child has heard similar words. You want that delicious-looking cake? A new toy? “Money doesn’t grow on trees!”
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Features
From ugly duckling to swan
Michael Kjeller of KPA Pension tells Nina Röhrbein about his fund’s transformation
