All Equities articles – Page 10
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OpinionHow to beat volatility in 2019
With an eye purely on the numbers, it might be tough to pinpoint exactly what has led to the worst year for stock markets since the end of the global financial crisis.
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Opinion
Hedging Brexit: An unfortunate necessity for trustees
With less than 100 days to go before the UK leaves the EU, assessment of the investment implications of Brexit should, by now, have been relatively straightforward.
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OpinionWhat is the global market outlook for 2019?
Markets started 2018 full of optimism. The US economy was putting in a stellar performance, buoyed by tax cuts that caused a surge in both growth and corporate earnings, while the unemployment rate hit an almost 50-year low.
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NewsXerox MNT constituency opened up for all members
The Xerox Pension Scheme has broadened its employed member constituency for member-nominated trustees to include all members, due to the dwindling number of members who are employed by Xerox.
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FeaturesJLT switch to TDF default sees boost in engagement
An overhaul of the default arrangement in the Jardine Lloyd Thompson Pension Scheme’s defined contribution section, switching from a lifestyle arrangement to target date funds, has brought its more engaged members back from their self-select funds.
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NewsThales ups alts for predictable cash flows
Trustees of the Thales defined benefit pension fund have taken steps to move away from listed equities and increased the scheme’s exposure to investments with more predictable cash flows.
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FeaturesBBC matches cash flows after strong 2017 returns
The BBC Pension Scheme has slashed its exposure to equity markets, in an attempt to lock in recent outperformance with liability-driven investment, private credit and alternative matching assets.
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OpinionUK gilts: The inconvenient truth for schemes
From the blog: Gilts have been a perennial favourite for UK pension schemes, not simply for their liability-matching properties, but also because of the returns they have delivered for schemes in years when markets have wobbled.
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FeaturesKent cuts passive equities for private equity and infra
The £6.2bn Kent County Council Superannuation Fund has moved capital from UK passive equities into private equity and infrastructure. The fund narrowly missed its benchmark for returns in the year to March 2018, after underperformance from equity and fixed income mandates.
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OpinionESG should be default option for DC schemes
Pensions are a long-term game. Unless they opt out, graduates beginning their careers this summer will soon be investing at least £1 in every £20 they earn for nearly 50 years, thanks to auto-enrolment.
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OpinionHow will the ageing population affect markets?
Of all the forces set to reshape the investment landscape over the coming decades, one stands above all others – the ageing of the world population.
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Opinion
DC Debate Q3: Updating asset allocations
In the second part of this quarter’s debate, our five DC professionals look beyond the traditional bond and equity portfolio to consider issues including diversified growth funds, alternatives and ESG.
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OpinionThe rise and rise of factor investing
Data Crunch: Factor investing has attracted a lot of attention from the UK pensions industry. Defined benefit schemes have seen factors as a way to diversify their growth assets and achieve greater control of risk, while defined contribution schemes are exploring default investment strategies that may offer better value for money to their members.
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OpinionCrowd control: Avoiding the next quant crisis
Quantmare, quantquake, quantageddon. Whatever clunky portmanteau you choose, the resurgence of quantitative factor investing, particularly through cheaper generic implementations, has led some trustees to question whether these popular strategies risk becoming overcrowded in a repeat of the quant crisis of 2007.
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FeaturesAvon asset managers warned over poor performance
The Avon Pension Fund has raised the prospect of dropping some of its active managers after a significant period of underperformance.
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OpinionMechanical bulls: the dangers of index capitalism
Markets are behaving oddly these days. The ‘term premium’, which reflects the compensation for investing in longer-term debt, is zero in the US and it is inverted globally.
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OpinionDWP consultation will force trustees to take notice of ESG
Pension trustees walk something of a tightrope these days, having to balance maximum short-term returns with being mindful of long-term factors that might affect future performance.
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OpinionChoose wisely – not all DGFs justify their fees
Diversified growth funds can be a liquid, low-governance way for smaller schemes to achieve asset diversification. However, their ability to add value from calling markets is questionable, and some funds waiting for a doomsday scenario are missing out on easy market returns.
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NewsFTSE 100 steps up derisking drive as deficits shrink
Defined benefit schemes of FTSE 100 employers continue to derisk investment portfolios at a rapid rate, despite mismatching of assets and liabilities generating attractive returns over the last year.
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OpinionWhy equity protection should never be too expensive for schemes
From the blog: Equity protection is back in vogue, with falls in markets at the start of the year putting downside protection strategies front of mind.