Issue 1, 2013

The Nordic Fund Selection Journal's March 2013 issue provides comprehensive insight into the Nordic fund selection landscape, featuring in-depth country focus, strategy interviews, and discussions with institutional investors and fund selectors. It highlights growth and dynamics within Nordic pension markets, particularly Denmark’s significant institutional market share, and includes interviews with key industry figures from Danske Capital, Kirstein consultancy, and Industriens Pension. The publication also explores global perspectives, with contributions from Russell Investments, BlackRock, and Threadneedle, accentuating themes like asset allocation, equity opportunities, and emerging market insights.

A key thematic element is the evolving investment environment characterized by heightened macroeconomic uncertainty, increased demand for alternative asset classes such as infrastructure, and shifts in asset allocation strategies amid low interest rates. The journal presents focused analysis on the significance of fundamentals in equities, manager selection nuances, and portfolio diversification strategies by Nordic institutional investors. Additionally, the issue underscores the importance of tailored, active asset management alongside passive strategies, the challenges and opportunities in fixed income markets, and the role of strategic partnerships in accessing long-term illiquid assets. Editorial content, complemented by event previews and interviews with investment thought leaders, positions the magazine as a vital resource for Nordic and international fund selectors and institutional investors seeking current, actionable insights.

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Table of content

Welcome and Introduction

Overview of the Nordic Fund Selection Journal launch, purpose, and editorial team; coverage of key interviews, roundtables, and reports on Nordic institutional investors and fund selectors.

News and Industry Updates

Analysis of trends in the CTA industry highlighting age and assets impact on performance; collaboration between BlackRock and Mandatum Life on ETF offerings; appointments and industry movements; ETF inflows and sector rotation; Swedish occupational pension fund selections.

Guest Viewpoint: Equities and Macro Uncertainty

Discussion on market fragility, increased asset correlations due to macro shocks, and the strategic shift towards bottom-up stock picking as fundamentals reassert; implications for equity investors and managers.

Round Table Discussion: Opportunities in Equities

Insights from leading Nordic fund selectors on current risk appetite shifts, preferences between active and passive management, market outlooks for the US and Nordic equities, emerging market relevance, and currency dynamics including potential currency wars.

Country Focus: Denmark

Presentation of the Danish pension market, interviews with Danske Capital’s fund and manager selection team, pension market consultants Kirstein, and CIO Jan D. Østergaard, highlighting market developments, asset allocation, and regulatory impacts on pension funds.

Strategy Interview: Institutional Asset Management Trends

Interview with Peter Beske Nielsen, BlackRock’s Head of Institutional Clients Europe and Nordic; discussion of Nordic institutional investment culture, regulatory influences, asset allocation challenges, and expected consolidation in Nordic asset management.

International Selection Profile: Multi-Asset Solutions at Russell Investments

Overview of Russell Investments’ integrated consulting and asset management approach; multi-asset portfolio construction, manager selection process, and client partnership philosophy emphasizing fiduciary responsibility and comprehensive portfolio advice.

Asset Allocation Insights

Exploration of the significance of asset allocation on investment returns; review of Swedish AP-funds’ portfolios demonstrating diversification into alternatives and focus on long-term investments.

Infrastructure Investment Focus

Interview with Brett Himbury from Australian Industry Funds Management discussing infrastructure as a long-term asset class aligned with pension fund liabilities; challenges, returns, investor alignment, and growth of infrastructure investments.

Market Outlook: Interview with James Swanson, MFS Investment Management

Positive assessment of current business cycle and pent-up demand; expectations of low interest rates and equity opportunities; commodities discussion and geopolitical risks, notably Iran and potential supply shocks, as key concerns.

The Travellers: Perspectives from Asset Managers Active in the Nordics

Reflections from Peter Andersson (Legg Mason), Tina Söderlund-Boley (GAM), Åsa Norrie (Standard Life Investments), and Henrik Rox Hansen (Janus Capital International) on market trends, client demands, event preferences, and current investment themes across the Nordic region.

The Office: Fidelity London

An inside look at Fidelity International’s London office combining traditional workspaces with contemporary art and award-winning garden spaces; role of art curation in the corporate environment to boost morale and reinforce company culture.

Industry Events and Previews

Details on upcoming major industry events including the Nordic Fund Selection Forum, FundForum Industry Honours, and regional Fondbar meetings; summary of the inaugural FundForum Industry Honours judging and categories.