All articles by Susanna Rust – Page 3
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Special Report
Multi-Asset Strategies: Apples and oranges
As multi-asset strategies have evolved, it has become less easy to assess and compare them on a like-for-like basis
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Special Report
Euro-zone recovery: SME Lending – Affairs of credit
Everyone wants to secure funding for small businesses, which has led to initiatives across Europe designed to take up lending slack where banks have pulled back
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Special Report
Technology: University Venture Capital
In its narrowest form, university venture capital has raised a couple of billion dollars a year, mostly in the US and UK
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Special Report
Special Report, Fees & Costs: Winds of change
Brendan Maton reports on the anxious vigilance around costs in pension fund management, but finds progress to be frustrated and incomplete.
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News
Fixed fees most often not in investors' best interests, study shows
Only when third-party managers are very skilled can fixed fees be the right choice for clients, says Cass Business School
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Special Report
Active Management: False economies?
An influential consultancy tasked with finding savings in the UK’s local government pensions scheme has put forward the idea of pooling its funds into passive investment. Brendan Maton looks at the issues and the sector’s response
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News
UK pension funds split on Dutch proposal to penalise underperformance
Pensions Trust says performance fees could learn from bonus structure, while United Utilities scheme warns of misalignment of objectives
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News
Diversified Growth Funds under pressure to cut fees
Consultants seek changes from DGF managers as 75bp cap looms on default workplace pensions
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Special Report
Smart beta: Blurring the lines
The smart-beta or factor revolution is breaking down the boundaries between active and passive management. But Brendan Maton finds this introducing as many new questions as solutions
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Special Report
Smart beta: Smart beta's Tower of Babel
Smart beta systematically introduces different risks than those contained in the market portfolio – and yet mandates are still generally benchmarked against the market. Brendan Maton writes about the urgent need for more suitable measures of risk and return
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Special Report
Risk & Portfolio Construction: Revenge of the quants
The ‘risk-factor’ revolution offers the tantalising prospect of getting exposures for which investors used to pay alpha fees as bargain beta. But Brendan Maton notes that it raises as many questions as answers when it comes to investable product
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Special Report
Europe's Pension Consultants: The long game
The static long-term assumptions of past consulting methodologies are no longer fit for purpose. But Brendan Maton finds that developing new approaches is a tough intellectual and practical challenge
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Special Report
Fiduciary Management: Trust and mistrust
Dutch pension provision is losing touch with its history of trust, aided and abetted by the DNB, writes Brendan Maton
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Features
Squeezing out the last drops
Brendan Maton assesses the favourability of tax-transparent Dublin and Luxembourg pooled funds as a way to avoid being ensnared by US withholding tax
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Special Report
Risk Parity: Simple idea, complex questions
Brendan Maton asks what the track records of risk parity strategies can tell us about their suitability for new economic environments, and how they might fit into the thinking of European pension funds suitability for new economic environments, and how they might fit into the thinking of European pension funds
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Interviews
De-leveraging, beautiful and beastly
Bridgewater’s Pure Alpha is famed as the world’s largest hedge fund, earning $13.8bn for investors in 2011 alone. But today, over coffee in a luxury London hotel, the focus for Bob Prince, co-chief investment officer of the Connecticut-based firm, is on a beta strategy called ‘risk parity’.
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Features
Going global for inflation
In Europe, it seems pricey to buy inflation, whether for liability-hedging or simple wealth preservation. Brendan Maton looks further afield
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Features
Smart Finnish moves
Brendan Maton spoke with Staffan Sevón, chief investment officer at Veritas, about his fund’s hands-on approach to investing
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Special Report
Fiduciary Management: Who’s watching the watchers?
Specialist overseers have a crucial role to play for pension funds using fiduciary managers. But the trustees themselves must watch the watcher, writes Brendan Maton
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News€10bn pension scheme Vervoer appoints Robeco as fiduciary manager
Dutch scheme ditched Goldman Sachs Asset Management International last year.
