CalPERS to hold managers to account on ESG
In what promises to be a transformational moment for ESG integration and investment manager accountability, CalPERS will require all of its managers to identify and articulate ESG in their investment processes. CalPERS staff led by Anne Simpson, senior portfolio manager and director of global governance, presented the ESG manager expectations, and draft sustainable investment guidelines, to the investment committee this week. The $307 billion fund will factor into its decisions about hiring and monitoring external investment managers the degree to which managers assess ESG factors and integrate them into their process. “If for example a manager hasn’t addressed how to carry out an…

What is the minimum AUM for internal management?
Large funds outperform small funds mostly mainly due to the cost savings of internal management. So when does internal management make economic sense for a fund? It’s at a much lower AUM than you might think. CEM Benchmarking analysed a universe of 186 pension funds globally. That universe is split into four groupings: 77 funds with an average of £1 billion,…

Best practice de-cumulatisation: a hybrid approach
Given annuitisation of retirement income is no longer compulsory in UK defined contribution funds, NEST has set out to uncover what best practice retirement income distribution looks like. The solution is a hybrid of flexibility and insurance – at low cost. Amanda White spoke to NEST chief investment officer, Mark Fawcett. One of the newest defined contribution schemes to be set…

Sourcing liquidity in fragmented markets
As equity trading becomes more fragmented, and more trading is done outside exchanges, it is prudent to assess whether alternative liquidity pools contribute to well-functioning markets. Norges Bank Investment Management has done the work for you, analysing the contributions, structures and functions of trading venues with limited pre-trade transparency. One of the benefits of liquidity pools, according to Norges, is…

Factors the same in credit and equities
Robeco will launch the world’s first multi-factor credit fund, after academic research by its quantitative research team reveals that size, low-risk, value and momentum factors have economically meaningful and statistically significant risk-adjusted returns in the corporate bond market. David Blitz, co-head of quantitative strategies at Robeco in Rotterdam, tells Amanda White why an active approach makes sense in credit. Robeco, which manages…

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Large funds outperform small funds mostly mainly due to the cost savings of internal management. So when does internal management make [more]
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A new study of active and indexed-based mutual funds shows the impact of different countries’ regulatory and financial market environments. The study finds that the [more]
Insider >
As the fixed income asset class undergoes rapid change and the opportunity set expands, unconstrained bond funds have become popular. But as this article examines, with that expanded opportunity set [more]
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CalPERS gives its managers ESG ultimatum

In what promises to be a transformational moment for ESG integration and investment manager accountability, ... [more]

What is the minimum AUM for internal management?

Large funds outperform small funds mostly mainly due to the cost savings of internal management. ... [more]

Best practice de-cumulatisation: a hybrid approach

Given annuitisation of retirement income is no longer compulsory in UK defined contribution funds, NEST ... [more]

Sourcing liquidity in fragmented markets

As equity trading becomes more fragmented, and more trading is done outside exchanges, it is ... [more]

Factors the same in credit and equities

Robeco will launch the world’s first multi-factor credit fund, after academic research by its quantitative ... [more]

Fiduciary duty: great power, great responsibility

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  • May 06, 2015

As the landscape for investment changes rapidly, so too does the notion of fiduciary duty. ... [more]

CCS technology needs most institutional investment in climate battle

For Myles Allen, Professor of Geosystem Science at Oxford University’s School of Geography and the ... [more]

Overruns biggest peril in mega infrastructure

The biggest challenge when it comes to investing in mega greenfield infrastructure projects is cost ... [more]

Alternative investments grow in attractiveness

Alternative investments have become a valuable income stream and liability matching tool at UK pension ... [more]