Investor Profile

South Dakota takes risk to bottom rung

The $14.2 billion South Dakota retirement system is sitting on cash and T-bills to hedge against equity-type risk seeping into its portfolio. The fund remains opportunistic and won’t rule out fossil fuels.
Private Credit

Rise of the unicorns: venture capital

The increase in privately held start-ups has piqued interest in venture-capital markets. The opportunities are there but investors must realise that technological innovation has changed the game.
Asset Classes

Going direct puts wind in PFA’s sails

The $77 billion Denmark pension fund PFA has turned to direct investment for its alternatives, taking stakes with varying levels of risk in areas such as telecommunications and wind farms.
Strategy

Pensions must brace for Brexit impact

The chances of Britain leaving the EU without a withdrawal deal seem greater than ever. Retirement systems need to prepare for changing valuations and disruptions to how they do business.
FIS Stanford

China’s enticing, challenging market

Inefficient markets and an explosion of technological innovation fuelled by Millennial consumers make China a tantalising prospect but accessing strong returns there isn’t as simple as it looks.
FIS Stanford

Protecting human capital helps everyone

Investors have plenty to gain from helping to protect human rights in supply chains and managing the human costs during technological disruption and the transition to a low-carbon economy.
FIS Stanford

How to follow megatrends to success

The big themes that will fuel growth in coming decades are interconnected and subject to change. An expert panel gave advice on riding societal change to outperformance.
FIS Stanford

How the active complements the passive

Investors discuss the various ways that two styles often presented as if they are enemies in fact work hand in hand across portfolios to produce returns.
OPINION

Sometimes, you can trust a hunch

Whether you call it a ‘gut feeling’ or ‘expert intuition’, under the right circumstances and in the right investment environment, it can take you in the right direction.
Sustainability
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Sustainability

IFSWF marks rise of protectionism

As the International Forum of Sovereign Wealth Funds’ Santiago Principles turn 10, the executive director of the State Oil Fund of Azerbaijan says threats to the free flow of capital loom.
Sustainability

PRI focused on commitment to task

As the 2018 PRI in Person conference begins, the prospect of recovering fossil fuel prices adds urgency to the organisation’s efforts to expand – and to keep current members on task.
Sustainability

PRI rallies boards on data security

A group of more than 50 investors has formed to help raise awareness and standards for data protection. As related risks become a primary concern for directors, PRI is co-ordinating efforts.
Sustainability

Adventist Health’s risk appetite grows

The $6 billion Adventist Health System is considering more risk as it grows and is seeking to gain from efficient processes. The goal remains maximum effectiveness in provision of healthcare.
Asset Classes
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Asset Classes

CalPERS shake-up may delay PE plans

The surprise ousting of CalPERS board president Priya Mathur heralds a leadership shake-up that could place final approval of an expanded private equity program on hold.
Asset Classes

Utah to look for PE managers

The $37 billion Utah Retirement Systems (URS) will allocate to private equity managers directly, rather than through funds-of-funds, for the first time since it began investing in the asset class 35 years ago.
Asset Classes

Private capital opportunities grow

It’s been said the “public market is quickly becoming a holding pen for massive sleepy corporations”. This has investors taking more late-stage stakes in private companies as perceived risks ebb.
Asset Classes

Future Fund tops up PE, risk

Australia's $107 billion sovereign wealth fund added risk based on near-term outlooks and boosted its holdings in private equity, during a year in which it handily beat one-year and 10-year aims.
INVESTOR PROFILE
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Investor Profile

Kellogg Foundation hunts AI investments

The CIO of the $3.5 billion foundation is looking to augment a legacy built on the famous cereal company’s stock by beating most of the US to the punch on adopting AI and machine learning.
PRI IN PERSON 2018
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PRI In Person '18

Reaching SDGs’ ‘low-hanging fruit’

Infrastructure, capital markets and China A-shares all present accessible opportunities for responsible investment, if asset owners can navigate a catch or two along the way.
PRI In Person '18

Good ESG data requires a framework

Initiatives such as the Sustainability Accounting Standards Board are vital for providing the consistent, regular, high-quality disclosure on the SDGs that investors need, a panel told delegates.
PRI In Person '18

Unilever chief calls for new capitalism

Long-time Unilever chief executive Paul Polman told delegates the world’s companies and executives needed to adopt a long-term focus and many other changes to create an inclusive economic system.
PRI In Person '18

An end to deforestation is critical

An expert panel argues that the objectives of the Paris Agreement can’t be achieved without stopping deforestation and looks to technology for some ways to make it happen.
PRI In Person '18

How to convince the ESG sceptics

Trying to find ways to get colleagues to embrace responsible investment strategies can be frustrating but it becomes easier when the business case includes the bottom line.
Asset Allocation
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Asset Allocation

Utah Retirement to pick PE managers

Utah Retirement Systems considers its strong balance sheet, history of long-term relationships with managers and nimble governance advantages as its search for GPs in private equity begins.
Asset Allocation

CalPERS manages outsized equity risk

The $335 billion California Public Employees' Retirement System warned this week that it is greatly exposed to a downturn in global equity markets, as it prepares to monitor active risk closely.
Asset Allocation

HOOPP ponders re-allocating risk

Canada's Healthcare of Ontario Pension Plan is considering adding to its celebrated strategy with moves into reinsurance and infrastructure, based on forecasts of rapid growth in its assets.
Asset Allocation

TelstraSuper: allocation authority

Graeme Miller, CIO at the A$21 billion TelstraSuper fund, has beefed up the staff and processes committed to asset allocation and adopted an empowering vision of world-class funds management.
Strategy
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Map of Australia
Strategy

Australia’s pension funds cricitised

As the fifth round of Australia’s financial services royal commission came to a close, counsel assisting criticised many retirement savings funds for their retention strategies, conflicts of interest and other practices deemed not in members’ best interests.
Strategy

Fight ‘halo effect’ and other biases

The halo effect - a belief that people who are good at one thing excel at everything - is just one example of the behavioural biases humans must manage and overcome to be good investors.
Strategy

Railpen: good partners add skills

When the $37 billion pension fund embarked on a joint venture with the Alaska Permanent Fund and Kuwait's Public Institution for Social Security, it learned the value of complementary partnership
Strategy

A more realistic look at risk

The University of California’s Rick Bookstaber argues that risk management should move from static equations to more realistic models in which outcomes depend on multiple agents.