All IPE articles in October 2002 (Magazine)
View all stories from this issue.
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Features
Slow to start
The pension reform passed in Germany last year was a step in the right direction for the development of private pension provision, even though the market growth expected a year ago hasn’t yet materialised. Most blame the complicated regulatory framework as the main reason Germans have shown little interest in ...
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Features
Technology at your service
Pension funds in Europe face increasingly unwieldy operations issues, while some have the additional strategic goal of growing a third-party business. Multi-tiered structures, multiple managers and a demand for more frequent information are pressuring the operations of pension funds on both sides of the Atlantic. Bringing in more asset managers ...
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Features
Politics prevail
The development of the pension fund industry in Italy has been, once again, the centre of political discussion throughout this year. Changes in the labour market by the Berlusconi government and the on-going debate about the transfer into pension funds of the TFR, a lump sum workers receive when leaving ...
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Features
Radical reforms support third pillar
Luxembourg’s government has taken a step forward in developing the country’s retirement system affecting both the first- and third-pillar pensions. In July the government announced radical measures to reform the state pension that aim to provide higher basic pensions and incentives to retire later. Under the new legal framework the ...
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Features
World-wide phenomenon
The past couple of years have seen an explosion in activity in ETFs outside Europe and the US. And it shows no signs of abating, despite recent disappointing market conditions which have led some investors to turn away from indexed products. Key developing markets include Japan, Hong Kong, Australia and ...
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Features
No overnight US success story
The huge success of exchange-traded funds comes as no surprise to the people who pioneered the product. But over the nine-year history of the portfolio tool, there have been times where many doubted ETFs would ever gain more than peripheral acceptance. Paul Aaronson, now executive managing director of Standard & ...
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Features
Time for new products
It is obvious by now that drastic measures are required to handle the looming pension crisis in Europe as – because of demographic developments – a smaller number of salary earners will need to pay for the state pension income of an increasing amount of pensioners. European governments and professional ...
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Features
New product shakes up market
In June the Austrian parliament finally adopted the government bill reforming the country’s severance pay system that will definitely have an important impact on the development of occupational pensions. The discussions regarding the reform of the statutory severance pay, the Abertigung, started in the late 1990s when the Austrian Trade ...
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Features
Looking out
In July, Iceland’s largest pension fund LSR appointed MFS Investment Management to run a segregated global equity mandate that will eventually be worth $100m. The e1.3bn pension fund for Icelandic civil servants, which invests around 20% of its assets overseas, has shown with this appointment its intentions to increase exposure ...
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Features
Living in tougher times
Too high expectations regarding the development of the pension industry in Germany during this year have resulted in disappointment among the asset management community. The forecast growth in assets that the pension reform was supposed to bring into the institutional arena has not materialised, partly due to market conditions but ...
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Features
Power of Master KAGs
If there is a development in the German market that could change the structure of the asset management industry as a whole, is the development of the ‘master KAGs’, a new multi-manager structure that has hit the headlines of the German financial press during the last few months. The development ...
