All IPE articles in October 2009 (Magazine)
View all stories from this issue.
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Features
Risk and human bias
Risk managers are being advised to take more notice of the human element when investing in the financial markets and economic theory cannot truly work unless it incorporates human emotional traits, according to research conducted by Investor Analytics and BNY Mellon Alternative Investment Services’.
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Features
Tide turns on PE balance of power
Calpers, the giant US public pension fund, announced in September that it would endorse principles set out by the Institutional Limited Partners Association (ILPA) to promote stronger alignment of interests between private equity limited and general partners. Experts in the private equity market are touting those principles as a foundation ...
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Opinion Pieces
“Is your pension fund a Sweden or a Colombia?”
Longevity is widely recognised as a key risk. Hewitt’s recent global risk survey, carried out in the fourth quarter of 2008, recognised that improvements in longevity appear high on the list of risk factors concerning companies – more so in the UK than equity market risk. But how many schemes ...
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Features
The yin and yang of asset allocation
In the third article in a series on a new study, Amin Rajan and Jim McCaughan show that clients are testing contrasting approaches
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Features
Swaps are now an option
Gail Moss assesses approaches to longevity. Aside from raising the retirement age, pension funds now have a longevity swap market to add to their toolkit
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Country Report
Dilemma of market gains
Emma Cusworth assesses the funding levels of Swiss pension funds
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Country Report
Positive voting opportunity
The Swiss vote on pensions in 2010 presents an excellent chance to make the case for a good second pillar, argues André Tapernoux
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Country Report
Consequences of inflation
Deflation and inflation have differential effects on the redistribution of risks between active members and pensioners, find Lukas Riesen and Alfred Bühler
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Special Report
Slow and steady
Martin Steward discusses how to win big from controlled risk with Majedie’s Tortoise fund
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Features
Risk separation
The 2008 asset allocation review of UBS’ Swiss Pensionskasse turned into a more extensive exercise than the fund had expected, but the fund kept faith with its strategic asset allocation. Nina Röhrbein was in conversation with Christoph Schenk, the funds CIO and recently appointed CIO and head of investments for UBS AG
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Opinion Pieces
The pensions professor
Teresa Ghilarducci is one of the most watched economists and pension experts these days. She is the Irene and Bernard Schwartz Professor of Economic Policy Analysis and the director of the Schwartz Center for Economic Policy Analysis at the New School for Social Research in New York, and the author of the book ‘When I’m Sixty-Four: The Plot against Pensions and the Plan to Save Them’
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Country Report
PGGM: No ordinary fiduciary manager
When PGGM was spun off from the industry-wide healthcare scheme PFZW in January of 2008, a new giant fiduciary manager seemed to enter the Dutch market. But although PGGM offers ‘integrated asset management’, the organisation has shunned the fiduciary management label. PGGM Asset Management CEO, Else Bos, explains why to Mariska van der Westen
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Country Report
Fiduciary management moves into a new phase
Miranda Schoutsen spoke to five providers about changes in fiduciary services, re-orientation and a changing of the guards
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Special Report
Fundamental shift in ESG
Nina Röhrbein looks at how the ESG market in Switzerland is moving on from the ideological and political corner of SRI to the real performance of sustainability
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Special Report
How do you integrate ESG in your portfolio?
Henrik Larsen CIO Sampension Denmark Danish common management company for three pension funds Invested assets: DKK125bn (€16.8bn) Participants/members: 289,000 Defined benefit Date established: 1945 Sampension’s environmental, social, governance (ESG) policy - which was implemented in 1999 - is a result of discussions within ...
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Features
‘Perseverance is crucial’
Nina Röhrbein assesses this year’s cross-border fiduciary management deal between APG in the Netherlands and Italy’s PensPlan
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Features
Iceland’s crisis fund
Icelandic pension funds are in the process of finalising details of the Icelandic Investment Fund (IIF), which will invest in domestic businesses that have suffered in the economic crisis. Hrafn Magnússon, managing director of the Icelandic Pension Funds Association (IPFA), an umbrella organisation for 33 pension funds, revealed that the IIF is expected to have funds of between ISK 50-75bn (€275-413m) to invest in companies in all economic sectors.
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Country Report
Law change is just a formality
Swiss pension funds welcome new investment limits on alternatives because of their emphasis on the prudent investor rule, not because they make investing easier, finds Nina Röhrbein
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Opinion Pieces
AIFM: "Blood and guts"
The European Commission’s proposals for its Alternative Investment Fund Managers (AIFM) directive faces a tough time as it progresses through the European Parliament, and there could be blood and guts flying during hearings in the Economic and Monetary Affairs (ECON) committee.
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Country Report
Clear boundaries ahead
An amendment to the legislative framework for pensions aims to reduce the number of supervisory authorities for Pensionskassen with clearer structures and more unified rules on governance, finds Barbara Ottawa
