IFSWF Conference 2018

Panama’s SWF moves into private equity

The $1.4 billion Fondo de Ahorro de Panamá is set to add a 15 per cent allocation to private equity and alternatives to eliminate some of the risk related to fixed income in its portfolio.
Organisational Design

PSRS/PEERS wants fees perfectly clear

The $43.6 billion Missouri education pension plan is a leader on transparency and costs, parsing out management and performance expenses in its annual report and negotiating less costly mandates.
IFSWF Conference 2018

Collaboration will get you everywhere

The new chair and deputy chair of IFSWF preached the importance of sovereign wealth funds forming partnerships to access elusive assets, gain new insights and invest sustainably.
IFSWF Conference 2018

Santiago Principles need update: panel

The Santiago Principles have made a great impact on transparency and accountability for sovereign wealth funds but need a refresh to offer guidance amid increasing tension between global and local mandates and a tougher regulatory environment, a panel declared.
IFSWF Conference 2018

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.
Organisational Design

UK funds acting on diversity

At the recent #actionsnotwords event in London, executives told of addressing philosophical blindspots, setting up flexible work hours, adding more drivers for recruitment and more.
Organisational Design

Santiago Principles turn 10 years old

A decade ago, the Santiago Principles were established, to shape governance of state-owned investors. Voluntary participation and flexibility have been the secret to the guidelines’ longevity.
PRI In Person 2018

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 2018

Infrastructure assets build in ESG

As governments welcome pension fund investment in infrastructure, the asset class facilitates the practical integration of the SDGs and ESG, Cbus Super CIO Kristian Fok told delegates.
Sustainability
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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.
Sustainability

OPTrust takes climate-change action

The $15 billion Canadian pension plan considers active engagement more effective than divestment and market forces more immediate than regulation, as it works towards a low-carbon economy.
INVESTOR PROFILE
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Investor Profile

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
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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.
Asset Classes

PE outperformance doesn’t add up

Thanks to recent history, flawed methodology and ill-chosen indices, most say PE consistently outdoes public equity. But the right data tells a different story, Oxford academics write.
Asset Classes

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
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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.
Asset Allocation

HSBC pension re-allocates to de-risk

"There are no prizes for taking on more risk than you need," said CIO Mark Thompson, after the fully funded UK scheme sold 60 per cent of its equities and targeted long-dated assets.
Strategy
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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.