CalPERS stays the course with portfolio

The board of administration of the $350 billion Ca
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Ohio STRS warns of higher US recession risk; prioritises liquidity

Ohio STRS warns of higher US recession risk; prioritises liquidity

The State Teachers Retirement System of Ohio has warned of a “material” increase in US recession risk compared to last year as the fund braces for a wider, “negatively skewed” distribution of outcomes in the next 12 months. It came as the mature plan, which is 81 per cent funded, is tilting to fixed income and new asset classes like liquid alternatives over equities.

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How Railpen keeps illiquid asset allocation on track

New research on private markets at Railpen has produced a framework that focuses on scenario planning and the uncertainty inherent in illiquid investments taking account of “portfolio steerability”, allocation drift and the impact on short-term liquidity management resulting in a more dynamic approach.

Cashflows and risk management drive PSP Investments

The risk of a deficit is a key driver in the management of PSP Investments as it looks to build resilience and cashflows in its portfolio. Amanda White spoke to CIO Eduard van Gelderen.

Cash rate scenario analysis drives asset allocation reset at Maryland

The asset allocation of the $63 billion Maryland State Pension System has protected the fund on the downside. But now CIO Andrew Palmer is looking at cash rates persistently of 4 per cent, what that means for various asset classes and how the fund should be allocating.

Montreal’s TCC: When a different world view pays off

Montreal-based Trans Canada Capital fuses its pension fund roots with the ethos of a relative value hedge fund for a unique investment approach that hunts uncorrelated alpha across the entire portfolio. Sarah Rundell speaks to two senior portfolio managers about their unique approach.

The problem with UK government pressure on pension funds to diversify

UK politicians are urging the country's pension funds to invest less in Gilts and more in riskier and complex assets including young UK companies, and infrastructure. Railpen's John Greaves, head of investment strategy and research explains the various problems with the plan.

Fixed income and active equity pay off at Brazil’s FUNCEF

Switching out of equities into fixed income last year has helped swell returns at Brazil’s Fundação dos Economiários Federais, FUNCEF. Other return-boosting strategies included active equity investment.

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