More evidence big is better in pension funds
A pension fund that has 10 times more assets under management has on average 7.67 basis points lower annual investment costs according to a working paper from authors at De Nederlansche Bank, that explores the relationship between pension fund size and investment costs. Written by Dirk Broeders, Arco van Oord and David Rijsbergen the paper finds that these economies of scale…

Australian funds look to collective DC
The $2 trillion Australian superannuation industry continues to evolve, with the move to collective defined contribution the latest product innovation for pension funds. While the industry is largely defined contribution, it hasn’t been good at providing retirement income products. Now, a number of Australian funds that have had both defined benefit and defined contribution plan members, including UniSuper and Telstra…

European investment plan requires public private collaboration
The two largest institutional investors in the Netherlands, PGGM and APG, have responded to the European Commission’s investment plan, urging the commission to call on institutional investors to collaborate on the investment proposal. However they also warn that institutional investors are not just a “subsidising entity” and the Juncker Plan is best executed as a partnership. In a paper entitled “We need…

Why Andrew Ang joined Blackrock
Andrew Ang believes factor investing is a more efficient way to organise a portfolio as it allows liquid and illiquid strategies to be managed across the portfolio. It also has the added benefit of honing managers on value creation. He’s been working with a handful of investors while Professor of Finance at Columbia University on implementing factor investing, and the…

The power of engagement
It is called the “CalPERS’ Effect” but it could easily be called the asset owner effect, or the institutional investor effect, or the power of engagement effect. Wilshire, which is a consultant to the $300 billion Californian fund CalPERS, has provided an update on its study measuring the effect of engagement on a targeted list of companies called the Focus List. The…

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A pension fund that has 10 times more assets under management has on average 7.67 basis points lower annual investment costs [more]
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Factor-investing has not yet won the right to be the endurable and dominating asset allocation method, according to new research, which [more]
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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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More evidence big is better in pension funds

A pension fund that has 10 times more assets under management has on average 7.67 ... [more]

G7 agreement shows benefits of engaging policymakers

Fiona Reynolds, managing director at the Principles for Responsible Investment (PRI) discusses why it’s in everyone’s interests for ... [more]

Australian funds look to collective DC

The $2 trillion Australian superannuation industry continues to evolve, with the move to collective defined ... [more]

European investment plan requires public private collaboration

The two largest institutional investors in the Netherlands, PGGM and APG, have responded to the ... [more]

Why Andrew Ang joined Blackrock

Andrew Ang believes factor investing is a more efficient way to organise a portfolio as ... [more]

The power of engagement

It is called the “CalPERS’ Effect” but it could easily be called the asset owner ... [more]

The contest: factor-based or industry-based allocations?

Factor-investing has not yet won the right to be the endurable and dominating asset allocation ... [more]

Quality factor explained by profitability: Robert Novy-Marx

Among academic classifications, and the subsequent implementation of factor investing, “quality” is one of the ... [more]

How to allocate assets to combat climate risk

  Mercer’s extensive climate change report, launched today, gives investors a practical framework for monitoring ... [more]