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Articles published in the professional financial press
Pension Funds eye real Estate Opportunities
Phil Redding says now is the right time for pension funds to consider adopting a more global outlook in their property investments
It is commonplace for pension funds to employ a global approach to equity and bond exposures. Now, a growing number of pension funds are applying the same thinking to real estate allocations in a drive to enhance returns and transform diversification. Commercial real estate plays an important role as a diversifier and generator of attractive risk-adjusted returns in many pension funds’ portfolios.
11/0053/280212 Published in Pensions Insight February 2011
A Measured Approach To Risk
Imagine the following gamble. Would you prefer, on the one hand, a certain £7,500 or, on the other, a three-in-four chance of collecting £10,000 (and a one-in-four chance of getting nothing)? Now reverse the bet. The choice is between a certain loss of £7,500 or a three-in four chance of losing £10,000 (with a one-in-four chance of no loss). Again, what would you choose?
10/1266/301111 published in Pensions Insight November 2010
Conquering Dragons
Ancient maps had swathes of white space around the edges where the known world ran out. Explorers were left to guess at what lay beyond, with the maps carrying such phrases as ‘Here be dragons’ or ‘Ware sea monsters’. There is a clear parallel with the way many pension funds have traditionally invested in property assets. They have focused on investing in property in their domestic market, sticking with the waters they know.
10/0850/311011 Published in Pensions Insight October 2010
Building The Case For Infrastructure
Effective infrastructure is essential for a nation’s health. An economy cannot thrive without the right mix of schools, hospitals, roads, railways, power stations, airports and ports. Trustees and pension managers are gradually recognising that investing in infrastructure projects can also aid the health of their funds. Pension funds are long-term investors – and infrastructure is an asset class with a genuinely long-term perspective. Many infrastructure assets have economic lives of at least 20 or 30 years.
10/0600/300911 Published in Pensions Week 27 September 2010
Absolutely Focused On Returns
The recent helter-skelter of world stock markets has prompted pension investors to take a fresh look at absolute return (AR) funds. In a traditional long-only fund, a significant portion of the return lies beyond a manager’s influence. Even the best fund manager struggles against a 40% drop in their market benchmark. The attraction of an AR fund is that a manager can profit from identifying failing companies or markets as well as successful ones, creating strategies that deliver positive returns even through falling markets.
10/0248/300911 Published in Pensions Week September 2010
Time For Market Medicine
It was a close run thing, but a combination of bail outs and government stimulus packages got us through the past two years without the wheels completely falling off the world economy. But so far, all the government initiatives have done is to nationalise debt: the problem has shifted from the private sector balance sheets to the public sector ones.
10/0431/21/05/11 Published May 2010 in Professional Pensions Magazine
Giving Clarity To Cash
Colin Cookson, head of liquidity at Aviva Investors, explains how fund managers are evolving a more transparent approach to help clients understand exactly where their money is invested.
10/0567/200511 Published May 2010
A Human Model - Adrian Jarvis
Adrian Jarvis, Head of Aviva Investors' Tactical Asset Allocation (TAA) strategy, shows that it's not all about scenarios, macroeconomics & models.
March 2010 Funds People
Absolutely Focused On Returns
The recent helter-skelter of world stock markets has prompted pension investors to take a fresh look at absolute return (AR) funds. In a traditional long-only fund, a significant portion of the return lies beyond a manager’s influence. Even the best fund manager struggles against a 40% drop in their market benchmark.
10/0346/290311 Published in March 2010 edition of Pension Insight