All IPE articles in October 2013 (Magazine)
View all stories from this issue.
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Special Report
Transparency under the spotlight
The mandatory reporting regime of the UN Principles for Responsible Investment has caused controversy. But advocates say it will shine a light on ESG integration. Mark Nicholls reports
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Features
Politics and sovereign wealth
Norway’s Government Pension Fund Global is now the third-largest institutional investor in the world, after Japan’s Government Pension Fund and China’s SAFE
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Features
In the pipeline
It’s a fine September morning and I am over the North Sea in a helicopter together with Geert, our bright young spark in the investment department. But it’s not just a day out and we are all dressed in hard hats and waterproofs since we are on our way visit a gas installation. Our proposed investment is nowhere to be seen, though, as it is a share in a gas pipeline network on the seabed.
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FeaturesTime for an overhaul
With yields rising and pension schemes continuing to increase their allocation to bonds, Peter Ball asks how trustees can plug the deficit in their schemes
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FeaturesPolish reform: A lot not to like
Managers of Polish pension funds can at least be grateful their industry has not been entirely nationalised
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Features
IORP II: Keep it proportional
PensionsEurope gives a general thumbs-up to Brussels’ planned improvements to governance standards for occupational pensions
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Special Report
Are loyalty shares a game-changer?
Nina Roehrbein asked Mirjam Staub-Bisang about sustainable investment in Switzerland
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Features
Focus Group: The real thing
Just under half of the respondents to this month’s Off The Record survey expect their allocation to real assets to increase a little over the next five years. On average, respondents currently invest 24.4% of their fund in real assets – although some investors have a more expansive definition for the term than others. One fund included the 5% it has in private equity, for example; two others included their listed equities; and two even included bonds, without specifying whether these were inflation-indexed.
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Country Report
Spain: A flight to the known
Spanish pension funds have increased their domestic government bond holdings as economic confidence slowly returns. Gail Moss reports
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Features
Mixed evidence on financialisation
Lorenzo Naranjo and Carmen Stefanescu note that commodity futures volatility has been rising since the era of ‘financialisation’ – but also that the correlation with equity market volatility long pre-dates this period
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Features
Will Draghi repeat Trichet’s mistake?
This month, one of the interviewees for our Strategy Review advises us to “look at the strength of the euro”
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FeaturesNorwegian oil fund: unification or division
As the largest pot of institutional money in Europe and the third largest in the world, the Norwegian Pension Fund Global was bound to be the topic of debate during Norway’s recent election
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Features
IASB: Plans on disclosure
The International Accounting Standards Board has always had a problem with disclosure
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Country Report
Spain: Crisis prompts overhaul
Social partners are set to agree changes to state pensions, according to Gail Moss, while the industry awaits detailed proposals aimed to boost supplementary pensions
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Interviews
M&G Fixed Income: Shining a light in the cracks
IPE editor Liam Kennedy sits down with M&G chief executive Simon Pilcher
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Features
The inconstant constant
Regulation threatens the existence of Constant Net Asset Value money market funds. David Turner asks if investors will miss them
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Features
Command, control and organisation
Gail Moss outlines the duties of the investment committee chair – one of the most influential positions in a pension fund
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Country Report
Portugal: Cautious steps towards risk taking
Portugal’s supplementary pension funds have increased their equity weightings but are still cautious on fixed income, writes Gail Moss
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Features
Carbon investment: worth the risk?
Gyorgy Dallos argues that the financial risks associated with investing in fossil-fuel companies will increase as they extract in more hazardous places and stricter carbon constraints are enforced
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Asset Class Reports
Sovereign Bonds: A wealth of opportunity
Martin Steward speaks with Stratton Street Capital, which believes a sovereign’s wealth determines the performance of its bond and currency markets
