Top stories
Sweden’s FTN in third tender launch, for Nordic large-cap, small-cap
Procurement agency sets 10 June deadline for bidders looking to win slice of SEK18bn of premium pensions assets
ABP to reduce investments in emerging markets
The fund believes it no longer pays to be overweight the region given the expected returns for emerging market assets
Enel KPI miss ‘a watershed moment’ for sustainability-linked bond market
Price reaction was swift, with the affected SLBs outperforming unaffected Enel instruments by 0.59% on average
Fiduciary managers’ growth portfolios underperform their target returns
XPS survey finds that majority of fiduciary managers’ growth portfolios underperformed their target returns by 3% or more
Small DB schemes unlikely to run on beyond buyout funding level due to costs
Hymans Robertson finds that the cost of running a small DB scheme is four times the cost of running a large scheme
ÄVWL’s CEO Christian Mosel departs for early retirement
The CEO’s exit was due to a confidential personal matter
Article 9 funds outflows continue amid ongoing regulatory uncertainty
Flows into Article 8 funds rebounded after three quarters of outflows
Fiera Capital makes Benelux, Nordics move
Jeroen van Rooij is appointed to the newly-created role of head of Benelux and Nordics distribution
Denmark’s PFA offloads €160m Shell holding after goal weakening
Bessing says still believes Shell better positioned for green transition than vast majority of oil and gas companies
LGPS funding level increases to 106% ahead of next actuarial valuation
LGPS funding level improved from 67% at 31 March 2022 to 106% as at 31 March 2024
German finance minister calls pension funds to invest in domestic growth
Germany needs another Future Financing Act law to mobilise private capital, says finance minister Christian Lindner
ÄVWL’s CEO Christian Mosel departs for early retirement
The CEO’s exit was due to a confidential personal matter
Fiera Capital makes Benelux, Nordics move
Jeroen van Rooij is appointed to the newly-created role of head of Benelux and Nordics distribution
People moves: Skandia appoints new head of asset management
Plus: MAPFRE names group CIO; Roelie van Wijk joins ABP’s board of directors
Striking the right balance on pension funds and fiduciary duty
Pension fund investment principles, strategies and decision-making have all become more complex in the wake of the growth of sustainability factors in general and climate change in particular. This has made the interpretation and practice of trustee ‘fiduciary duties’ more vexed and challenging than ever. A recent review of fiduciary duties in the UK by the Financial Markets Law Committee (FMLC) put it this way: “It is sometimes easier to state the duties than it is to apply them.”
The importance of board decisions in an uncertain world
In the foreword to this new book, the CIO of CERN Pension Fund, Dr Elena Manola-Bonthond, says that, in her experience, investment alpha is scarce and very often difficult to access. It can be costly and its persistence is sometimes questionable. But there are other types of alpha that are more accessible and governance alpha is definitely one of them.
Australia faces up to the cost of pandemic pension early release
Four years after Australians were allowed to withdraw superannuation savings to deal with the economic shock of the COVID-19 pandemic, they now know emergency measures will cost the nation A$85bn (€51bn) in future pension payments.
Young pension employees clamour for learning and interaction
Many young professionals are deterred from pursuing careers in pensions due to insufficient knowledge and a perceived lack of career progression
Small island states turn to institutional investors to protect oceans
Small island developing states may have a total population of only around 65 million, but through their exclusive economic zones they control about 30% of oceans and seas, according to the International Institute for Sustainable Development (IISD).
Swiss pension funds hold onto private equity investments
Schemes stick to strategic quotas, pushing back on government plans to support local economy
Corporate Sustainability Due Diligence Directive final text gets green light
MEPs have now signed-off on an agreement which means the law will only apply to very large companies
Modelling shows net-zero investing can be profitable
Since the acceptance of the Paris Agreement in 2015, which bound nations to a legal commitment to reduce global temperatures, there has been a clear shift towards net-zero investing. While socially responsible investments are crucial for the mitigation of climate change, recent calls to row back on ESG funds suggest some hesitation.
Thematics Asset Management’s CIO on themes and investment challenges
Out of the 19 boutiques businesses belonging to the Natixis Investment Management franchise, Thematics Asset Management is by no means the smallest, but it is not exactly a juggernaut, managing €3.3bn of assets at the end of last year. Yet, it is actively contributing to what could be a crucial evolutionary step for global investors.
Sweden’s AP3 pension fund and its quest for alpha
Jonas Thulin, recently appointed CIO of Sweden’s Tredje AP-Fonden (AP3), talks to Carlo Svaluto Moreolo about his approach to asset allocation and portfolio management
Merseyside pension fund dials down domestic bias
Scheme’s strategic ambition is to move closer to the MSCI World index weightings
IPE Magazine May 2024
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
May Highlights
Is buyout still the gold standard for UK pension funds?
Improved funding positions mean more DB schemes are considering run-on rather than off-loading their liabilities
European high yield stands its ground
Investors flocked to the European junk bond market last year and despite a strong US economy, there is still appetite for European issuers
Young pension employees clamour for learning and interaction
Many young professionals are deterred from pursuing careers in pensions due to insufficient knowledge and a perceived lack of career progression
Merseyside pension fund dials down domestic bias
Scheme’s strategic ambition is to move closer to the MSCI World index weightings
Pension funds revisit allocations to China
European pension funds have reduced their allocations to China as the outlook for the country’s economy becomes more uncertain
European high yield stands its ground
Investors flocked to the European junk bond market last year and despite a strong US economy, there is still appetite for European issuers
IPE Quest Expectations Indicator - May 2024
EU parliamentary elections are approaching fast. Current polls predict a shift to the right, with the current centrist parties remaining dominant and the extremist right overtaking the Eurosceptics. US President Donald Trump is still liable to be convicted in a criminal case, but his poll figures are rising.
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