Magazine Issues»May 2013

Safety netNicholas Pratt considers pension fund outsourcing of broader back and middle-office operations to custodians, while Marks & Spencer's pension scheme talks about its approach to asset servicing.

Legal easeWhile 2012 saw just eight new fund launches on the London Stock Exchange, listed investment companies outperformed the FTSE All Share index and more than £3 billion (€3.5 billion) of new capital was raised.

LionFixed income funds were dominant in 2012, while equities suffered net outflows and money market funds lost their appeal. The global fund distribution team at Ernst & Young Luxembourg present the numbers.

Building facadeThe value of prime property in major European cities is on the rise, while in southern Europe and elsewhere the outlook is troubled. Neil Blake and Graham Barnes, at real estate service firm CBRE, discuss the mixed fortunes.

TradersWith equity investing on the rise, Mark Pumfrey at Liquidnet says there are reasons to be hopeful of a possible return to the higher levels experienced in 2008.

Palm sphereThe emergence of two new CCPs in the securities lending market has raised the question of whether central clearing offers any true benefits to asset owners and lenders. Nicholas Pratt examines the evidence.

Price tagHow can an investor in an alternative strategy know the valuation they are given is correct? Daniel Johnson, of Wells Fargo Global Fund Services, and Eric Lazear, of FQS Capital Partners, offer advice on due diligence.

Brian ForresterThis February, the European Securities and Markets Authority (Esma) published its final report setting out guidelines for the remuneration of alternative investment fund managers (AIFMs) under the Alternative Investment Fund Managers Directive (AIFMD).