Measuring manager performance
Institutional investors do not act on their own expectations when choosing fund managers, rather their reliance on consultants, and past performance, exacerbates the agency problem in the institutional investment supply chain a new study from Oxford University shows. Using survey data for 1999-2011 the academics analyse the views of plan sponsors on their asset managers, it covers investors with assets of…

AustralianSuper contemplates foreign outposts
Australia's largest superannuation fund, AustralianSuper, is considering whether it should have its own investment management and currency hedging teams based in Europe and America. Due to the mandatory nature of the system in Australia, the current rate of funds under management growth means assets are doubling every four to five years. Peter Curtis, head of investment operations at the A$85 billion…

Does pay for performance work?
Governance experts say that paying competitive salaries for internal staff will have benefits across the entire fund. For some, including those working in public sector pension funds or profit-to-member funds, that is unpalatable. But a comparison of salaries and total investment costs, between two large, different and high profile funds – Ontario Teachers and CalPERS – has got me thinking…

GPIF continues equities rampage
The giant Japanese pension fund, the Government Pension Investment Fund, continues its quest to move from bonds into equities and shift around 30 per cent of assets, or around $327 billion, out of domestic bonds and short term assets, appointing four new equities managers. The new asset allocation, approved in October last year, sees the target for domestic bonds shift from…

Pension fund governance needs an overhaul, still
How much has pension fund governance changed in the past 16 years? Not much! A survey of pension fund governance by Keith Ambachtsheer and John McLaughlin, which asked respondents the same questions in 1997, 2005 and 2014 reveal that the same “sources of excellence shortfall” exist today as they did 16 years ago. Pension fund governance has not evolved much, but needs…

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Australia's largest superannuation fund, AustralianSuper, is considering whether it should have its own investment management and currency hedging teams based in [more]
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Institutional investors do not act on their own expectations when choosing fund managers, rather their reliance on consultants, and past performance, [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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Measuring manager performance expectations

Institutional investors do not act on their own expectations when choosing fund managers, rather their ... [more]

AustralianSuper contemplates foreign outposts

Australia’s largest superannuation fund, AustralianSuper, is considering whether it should have its own investment management ... [more]

Stanford dumps coal: why divestment doesn’t work

The decision by the Stanford University endowment to divest from coal stocks might produce some ... [more]

The predictive power of portfolio characteristics

Investors still rely, to a great extent, on past performance to assess managers’ future performance. ... [more]

Does pay for performance work?

Governance experts say that paying competitive salaries for internal staff will have benefits across the ... [more]

GPIF continues equities rampage

The giant Japanese pension fund, the Government Pension Investment Fund, continues its quest to move ... [more]

Pension fund governance needs an overhaul, still

How much has pension fund governance changed in the past 16 years? Not much! A ... [more]

Asset owners take charge of the tender process

A candid feedback loop from asset owners to managers following a tender process will help ... [more]

Fees eat diversification’s lunch

The balance between the allocating to the right number of asset classes and over-diversification is ... [more]