Managing director of China Investment Corporation, Hua Fan, and quantitative portfolio manager at CalPERS, Ho Ho, were among the highlights of day two at the Fiduciary Investors Symposium in Beijing.
The complexities of managing global currency exposures were teased out by chief investment officer of First Quadrant, Max Darnell, and a panel of consultants from Mercer and Russell. CIC’s Fan revealed the challenges facing the sovereign wealth fund in its currency management, including further education of the board.
On a day where the China Daily reported that two officials from China’s statistics bureau and its central bank have been jailed for leaking secret data to securities traders, Anthony Neoh, a member of the China Securities Regulatory Commission’s international advisory board, educated delegates on the regulatory and legal landscapes of fiduciary investment in China.
Fiduciary investors heard from the chair of the board of governors of the CFA Institute, Aaron Low, about how to restore trust in capital markets, followed by a deep dive into hedge fund and alternative assets.
Principal and co-founder of AQR, Cliff Asness (pictured), advised investors to build hedge fund portfolios according to the different sources of return – alpha, hedge fund beta and market beta.
He was joined in a panel discussion by co-founder of K2 Advisors, David Saunders, head of alternatives at the British Airways Pension Fund, Bev Durston, and quantitative portfolio manager at CalPERS, Ho Ho.
Cambridge Associates’ new chief executive of China, Chris Hunter, led a discussion on the outlook for credit and distressed investing, with participants including co-founder of Strategic Value Partners, Jean-Louis Lelogeais, and head of private equity investments at Swiss Re Private Equity Partners, Nathalie von Niederhaesern.
How to co-invest in the region, particularly in private assets, was discussed by the Canadian Pension Plan Investment Board’s Peter Chen, and Industry Funds Management’s Michael Hanna.