- Investors are turning to concentrated equity strategies, despite ample evidence that broad diversification offers better risk-adjusted returns over the long term
Top stories
WTW to acquire Cushon master trust
The acquisition adds £4bn in assets under management to WTW’s portfolio
Rantala report urges major overhaul of self-employed pensions in Finland
Jukka Rantala, former head of Finnish Centre for Pensions, puts forward proposals for increasing transparency and improving pensions adequacy for the self-employed
Germany’s pension reform unlikely to lift DC take-up
Germany’s pension reform introduces targeted measures, but consultants warn it won’t significantly boost DC plan uptake
DAX pension funds ramp up private markets as DC overhaul reshapes demand
Mercer expects German corporate pension funds to boost private markets exposure, combining core infrastructure and senior private debt
People moves: Finland’s Veritas names new chief
Plus: Former Invesco EMEA head launches new business; AkademikerPension hires new real estate investment manager
IPE ESG Briefing: European Commission’s SFDR overhaul
Plus: The UK’s FCA publishes ESG ratings regulatory regime; Sustainability-focused panel at IPE’s annual conference in Seville
From net-zero promises to proof – Why investors need a new compass
Manuel Coeslier, head of Mirova Research Center, makes the case for a framework that allows investors to assess a broader spectrum of corporate climate action
Viewpoint: European Commission IORP proposals are too slanted to individual pensions
The European Commission’s IORP II reform proposal structurally reinforces individual pensions and is at odds with the successful social partner-led Rhineland model
Viewpoint: Reflections on the occupational PEPP (should it ever be proposed)
The EU’s planned occupational PEPP could reshape cross-border pensions if key tax and regulatory hurdles are resolved
People moves: Finland’s Veritas names new chief
Plus: Former Invesco EMEA head launches new business; AkademikerPension hires new real estate investment manager
APG to shed over 1,000 jobs in cost-cutting drive
The pension administrator majority-owned by the Netherlands’s largest pension fund ABP made an operational loss in 2023 and 2024 and has been under pressure to cut costs
New study calls for current DEI practices to shift towards performance-driven model
Professor Alex Edmans urges investors to abandon box-ticking DEI and adopt a performance-driven PSI framework instead
IPE UK Briefing: Bond markets react to chancellor’s Budget
Plus: LGPS consolidation and The People’s Pension investment strategy
UK pensions minister to introduce statutory guidance on fiduciary duty
But the formal proposal for an amendment to legislation has proved popular with MPs
Are governments finally hearing investors when it comes to climate finance?
Some experts say governments still do not understand what counts as an investment-ready pipeline of assets
IPE Netherlands Briefing: Dutch GP fund defies buy-and-hold equity promise
Plus: With the Dutch pension transition gearing up, the Dutch market for buyouts, estimated to be worth some €20-30bn, appears to be accelerating
Member preferences and risk management: how sustainability is showing up in IORP III
EU Commission wants to strengthen language around management of sustainability-related risks
Scenarios at the ready: How APG’s chief economist views political risk
Thijs Knaap, APG Asset Management’s chief economist, discusses political risk and how it could affect institutional portfolios
Decision time: Denmark’s Sampension discusses its strategy for European assets
Jesper Nørgaard, deputy CIO at Sampension, discusses whether it is prudent to maintain a large exposure to the US or re-allocate to European equities
Clearstream Fund Services: “We are now the disruptor ourselves”
Clearstream Fund Services is poised to capitalise on the democratisation of private markets, as Philippe Seyll tells Joseph Mariathasan
PKG Pensionskasse: Investing with discipline and patience
Diego Liechti, the new CIO of PKG Pensionskasse, explains the Swiss pension fund’s investment strategy to Luigi Serenelli as it steps up its exposure to illiquid assets
Pension funds and physical risks: NEST, PFA Pension and PME Pensioenfonds on climate resilience
As the effects of climate change materialise, European pension funds are increasing their focus on physical climate risks
IPE Magazine November/December 2025
Read the latest issue of IPE Magazine
Browse the digital edition and find highlights from this month's issue below
Digital edition of IPE magazine
November/December Highlights
“The oil and gas majors are constrained by a legacy of their own success”
The oil and gas (O&G) majors seem perfectly positioned to lead the energy transition but why are they struggling to do so?
Viewpoint: “Governments are considering imposing domestic mandates to force domestic investment”
Over the past 30 years, pension funds have accumulated trillions in pension assets by investing in high-performing global portfolios. Key to their success has been the ability to invest free from government pressures.
Clearstream Fund Services: “We are now the disruptor ourselves”
Clearstream Fund Services is poised to capitalise on the democratisation of private markets, as Philippe Seyll tells Joseph Mariathasan
Scenarios at the ready: How APG’s chief economist views political risk
Thijs Knaap, APG Asset Management’s chief economist, discusses political risk and how it could affect institutional portfolios
Decision time: Denmark’s Sampension discusses its strategy for European assets
Jesper Nørgaard, deputy CIO at Sampension, discusses whether it is prudent to maintain a large exposure to the US or re-allocate to European equities
IPE Quest Expectations Indicator – December 2025: Uncertainty receding
With Trump losing support domestically, the economy is expected to growh
Emerging markets step out of Wall Street’s shadow
A combination of strong fundamentals, a weaker US dollar and a favourable policy environment may be ushering a new era for emerging market equities
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