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Günther Schiendl, VBV Pensionskasse |
Be prepared to ditch and switch
Active management’s role within pension funds is under scrutiny, and it appears the bar of ‘reasonable expectation’ is shifting. By Henry Smith.
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In brief
Asset boom Global hedge fund assets will rise at a compound annual growth rate of approximately 12.1 per cent between 2009 and 2013 to return to 2007 levels of $2,900bn (€2,077bn), according to research from Cerulli Associates and HedgeFund.net.
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Charles Baillie, GSAM |
UK a natuaral home for hedge funds
Hedge funds are not expected by Goldman Sachs Asset Management (GSAM) to flee the UK should tougher regulations be passed by the European Union. By Spencer Anderson.
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MARKET ANALYSIS: Europe
Equities have witnessed a rally of late, and a cautious approach will yield results, writes Dean Tenerelli.
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Bjarne Graven Larsen, ATP |
Credit is due to top ranking danish fund
ATP, the DKr355.6bn (€47.7bn) pension scheme, could double its exposure to credit in the coming year, according to its chief investment officer Bjarne Graven Larsen. By Spencer Anderson.
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MARKET ANALYSIS: North America
The shape of the recovery will affect long-term stability, writes Peter Anderson.
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Chinese QDII funds hit the mark
Stellar performance by overseas investing funds in Q2 has opened up further opportunities for China’s investors as fund managers plan new product launches. By Henry Smith.
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MARKET ANALYSIS: South America
Latin America has suffered indirect hits from the credit crunch. But ironically, the global crisis will eventually help propel its economy, writes Jerome Booth.
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Demand for dark pools remains dry
The regulatory overhaul of investment services in Europe through MiFID has been far reaching, though its impact on competition for exchanges remains uneven two years after its introduction, according to a new report. By Nat Nankelow.
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MARKET ANALYSIS: Asia Pacific
Japanese equities are favourably priced, writes Yoshihisa Nakagawa.
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Luke Spajic |
Bond market booms
Pimco, the $750bn bond investor. He pointed to traditional sources of demand such as credit funds receiving a boost from alternatives sources of liquidity like gilt and equity investors. By Nat Mankelow.
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Watching bankers revert to old habits
Investment bankers have not learned the lessons of the past, writes Henry Smith.
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A financial war of words
Conflicts of interest at the start of the recession led to much negative debate between lenders and borrowers, writes Yves Josseaume.
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Too little, too late in the day
A cautious approach to investment in IT and reporting systems in the past is of little comfort now that there is no budget for improving client software.
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Hedging bets is the safe option
Splitting portfolios to combine long-term stable returns with short-term speculation may protect more institutional funds from future volatility.
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Humayon Dar |
Islamic financing’s huge leap of faith
Sharia-compliant financial services is fast becoming a fiercely competitive arena, writes Yuri Bender.
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Brown must take a more global view
The UK government must look to the North American public sector pensions model, writes Marino Valensise.
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The sidepocket trap
According to Banque Privée Edmond de Rothschild’s Alexandre Col, ‘greedy’ investors only have themselves to blame for being trapped in the fundamentally illiquid accounts known as sidepockets. By Henry Smith.
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Alfred Slager, Stork |
Business as usual for Stork pension fund
Despite the slew of initiatives borne of the economic crisis, Dutch industrial powerhouse Stork’s pension fund believes that the same fundamental issues still taint the financial services world. Spencer Anderson investigates. By Spencer Anderson.
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Jean-Baptiste de Franssu, Invesco |
Have lessons been learnt?
It would be impossible not to have gleaned some greater knowledge from the global financial fallout, but what will individual firms, investors and advisers decide to change or improve to minimise the impact of a future crisis? By Spencer Anderson.
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David Butler, Kinetic Partners |
Complex UK tax rules means grass is far greener abroad
The upcoming EU directive has enticed many disenfranchised, London-based hedge fund managers to up sticks and head to the Continent. By Martin Fagan.
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Simon Doyle, Schroders |
Australian funds bounce back from down under
Amid volatile market conditions, a number of Australian pension fund managers have put into action the idea of offence being the best defence by targeting emerging market equity investment, writes Richard Hemming. By Richard Hemming.
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Taro Aso |
JGB curve seeks relief via overseas exposure
With the OECD predicting Japan’s debt to soar to 200 per cent of GDP by 2010, its Ministry of Finance is marketing government bonds to foreign investors to support its multi-billion yen fiscal package. Nat Mankelow investigates.
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Helena Morrissey, Newton |
Actively seeking alpha
With its processes being put under the microscope, and a general aversion to risk prompting many investors to play it safe, active management is having a tricky time of it, but managers are keen to prove their worth. By Henry Smith.
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Finding a solution to risk that has longevity
Insurers are tentatively awaiting the outcome of the consultation on Solvency II and the possible changes to how liabilities are calculated. By Nat Mankelow.
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A strengthening current
Record levels of new issues of corporate bonds, along with its liquidity, have elicited much attention from ETF providers and investors. By Nat Mankelow.
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Ultra-conservatism wins
Despite getting a scalding by the press in the aftermath of the global financial crisis, some European absolute return funds judged the climate perfectly. By Spencer Anderson.
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Jack Klinck, State Street |
Differentiated risk entices prime brokers post-crisis
With a decade of undifferentiated credit risk behind them, asset managers and investors are insisting that prime brokers rethink their arrangements. By Ceri Jones.
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Prevention is always better than cure
Recent cases of poor risk management have resulted in dramatic consequences for investors, therefore employing high quality tools is a future necessity.
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Mash Patel, Kurtosys |
Middle office can prove a risky business
A function that has the potential to operate across the front and back office, risk management has more recently been absorbed into middle office’s remit and the investment process in general. By Nat Mankelow.
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