Table of Contents

Issue Date: Monday, January 6, 2014

News

Uncertainty may dog institutional investors in 2014

Uncertainty may dog institutional investors in 2014

Uncertainties about what to do in rebalancing and the uncharted waters of central bank accommodation are among the things that'll bring sleepless nights to investment executives and money managers in the coming year.

Return of risk to color 2014 market sentiment

Return of risk to color 2014 market sentiment

Renewed risk appetite will contribute to driving a stronger U.S. economy in 2014, while the U.S. equity market will be challenged to meet the level of actuarial return assumptions for 2014, according to economic and market strategists.

Private equity deal volume likely to rise; investor power may wane

Private equity deal volume likely to rise; investor power may wane

Private equity experts are split on whether prices paid for portfolio companies will continue to rise in 2014 leading to a potential bubble or prices will drop as a consequence of rising interest rates and the resulting higher cost of capital.

International deals rise in 2013; activity in U.S. falls

International deals rise in 2013; activity in U.S. falls

Mergers and acquisitions activity among money managers reversed in 2013, as non-U.S. transaction values rose from 2012, while U.S. money manager activity declined.

Washington to keep things hopping for DC plans in 2014

Washington to keep things hopping for DC plans in 2014

After a year of relative calm, the defined contribution industry faces a series of potentially sweeping regulations expected from the Labor Department and, to a lesser extent, the SEC in 2014.

Hedge fund managers crossing their fingers for volatility

Hedge fund managers crossing their fingers for volatility

Far from fearing volatility, hedge fund managers are looking forward to a rockier investment climate this year, one that will allow them to do what they do best: make money on both the long and short sides.

Looking back on how capital markets performed

Equities busted out, while rising rates helped pension funds, but hurt fixed-income investors.

UBS pins hopes for growth on DC plans of the future

UBS pins hopes for growth on DC plans of the future

Executives at UBS Global Asset Management Americas Inc. are betting that the defined contribution industry of the future will provide a growing market for its alternative investments and a retirement income option.

Bemis cuts investment overlap, saves on DC plan expenses

Bemis Corp., a company that specializes in flexible packaging, has packaged the restructuring of its defined contribution plans to reduce investment-option overlap, increase diversification, simplify choices and save participants more than $700,000 a year combined in expenses.

Asset managers dub FSOC's approach too bank-like

Asset managers dub FSOC's approach too bank-like

A growing drumbeat of criticism over the federal government's attempts to prevent a financial crisis in the asset management industry by applying bank-like rules appears to be having little effect.

China firm unlikely vanguard for public managers in Asia

China firm unlikely vanguard for public managers in Asia

China Cinda Asset Management Co. Ltd.'s high-profile December listing in Hong Kong will remain a footnote in the emergence of a publicly traded money management segment in Asia if the firm can't build on its “bad bank” origins to become a respected third-party manager.

Change in U.K. rules could lead to job changes for analysts

Change in U.K. rules could lead to job changes for analysts

The Financial Conduct Authority, the U.K.'s watchdog for money managers and other financial services firms, this spring will clarify rules around the spending of client trading commissions.

Proposal for new Ontario pension plan raises lots of questions

Proposal for new Ontario pension plan raises lots of questions

A lot of questions surround Ontario's plans to create a supplemental pension fund to the Canada Pension Plan, not the least of which is who will manage plan assets that could potentially reach as much as C$80 billion (US$74.7 billion).

Web Extra: Investors may flirt with riskier real estate strategies in 2014

Spoiler alert: Real estate investors might be edging into riskier strategies in 2014.

Web Extra: Regulations in new year might look a lot like the old year for retirement plans

2014 might seem like deja vu to many retirement plan sponsors.

Special Report

Money manager M&A 2013

Mergers and acquisitions activity among money managers during the year 2013 seems to have reversed from last year 2012, with non-U.S. transaction values rising in 2013 compared with 2012, while U.S. money manager activity has gone down in terms of transaction value.

Outlook 2014

P&I examines what's ahead for pension funds, DC plans, and managers.

Online

Frontlines

Editorial

Balancing short, long term

Balancing short, long term

Institutional investment managers and corporations alike have been criticized in recent years for an excessive focus on short-term performance, a practice that can lead to suboptimal outcomes and undermine long-term value creation.

Other Views

Transition cost not a bar to pension reform

There is a popular aphorism that “when you find yourself in a hole, the first step is to stop digging.” With respect to public employee pensions, a growing number of policymakers are contemplating following that advice.

Letters to the Editor

People Moves