Catching up with reality: Investment beliefs need a rethink

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TfL Pension Fund: A bespoke benchmark in Bridgewater mandate strikes gold

TfL Pension Fund: A bespoke benchmark in Bridgewater mandate strikes gold

Transport for London Pension Fund styled a bespoke benchmark to gold in its Pure Alpha mandate with Bridgewater. It has added hundreds of millions of pounds to the portfolio, says chief investment officer Padmesh Shukla. In a wide-ranging conversation, he also explains the rationale for reducing equity to just 18 per cent of the total fund and why emerging markets aren't offering the diversification or returns they used to.

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LPPI: Keeping AI risk in check

As the risk of an AI bubble grows, LPPI's Richard Tomlinson reflects on how the LGPS pool manages and measures AI exposure. In an interview with Top1000funds.com, he also explains how he has been moulding the fund's investment structure to be fit for a post-LGPS reform future.

Why ACC investment chief believes CIOs should stay hands-on with portfolios

While day-to-day portfolio management is increasingly a luxury for chief investment officers, particularly at large asset owners where the role is more of a people management and strategy role, CIO of New Zealand sovereign investor ACC argues CIOs should remain firmly on the tools when it comes to managing portfolios.

Rest Super’s selective approach to PE pays off as program comes of age

A concentrated bet on fewer, better GP relationships is paying off for one of Australia's largest superannuation funds. Built on selective manager and deal selection rather than a broad roster, the A$112 billion ($78 billion) Rest Super delivered private equity returns more than double the peer average last financial year, as the fund proactively courts top-tier PE firms instead of waiting to be approached.

WTW’s Urwin defends TPA value-add as attribution scrutiny intensifies

Roger Urwin, one of the industry’s most well-known proponents of TPA, has defended it against the growing scepticism of its reported performance edge over SAA, saying “TPA is a system” and any performance attribution is difficult to isolate from the broader context each fund operates in. In an interview with Top1000funds.com, he also weighs in on whether some funds are inherently unsuitable for implementing TPA.

Future Fund: AI world order defined by US-China split will hurt capital owners

A geostrategic standoff between the US and China over AI would be “extremely damaging for capital owners” according to the Future Fund, Australia’s A$337 billion ($237 billion) sovereign wealth fund, which outlined four “secular scenarios” around AI and its investment implications.

Texas ERS reallocates to managers to help navigate concentrated equity market

Texas ERS' CIO David Veal says the fund is re-allocating around a quarter of its public equity portfolio to external managers, away from the internal team. ERS plans to upsize with existing fundamental mandates but also allocate to new incremental relationships with diversifying strategies.