Fiduciary duty in dysfunctional markets

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Texas ERS reallocates to managers to help navigate concentrated equity market

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.

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What China’s index inclusion means

The implications for investors of the inclusion of China A-shares in the wider MSCI indexes, an inevitable outcome, will be discussed at the Fiduciary Investors Symposium at Yale in October.

New York’s actions louder than words

Low emissions index is crucial to New York Common’s ongoing commitment to environmental, social and governance considerations. Amanda White spoke to chief investment officer, Vicki Fuller.

NBIM calls for more listings

Norges Bank Investment Management would like to see an increase in the number of company listings and suggests more flexibility from exchanges and index providers could facilitate this.

AIMCo’s evolving hedge fund strategy

AIMCo combines an internally run portable alpha strategy – with a global alpha pool allocated across beta exposures – with a portfolio of high-conviction specialised external hedge funds.

Alaska’s ongoing internal push

Alaska Permanent Fund will focus on smart beta strategies as it seeks to further increase in-house management. It will also develop income-generating strategies away from traditional fixed income, leveraging its size and infinite investment horizon in competing for US infrastructure and real estate assets.

Equities sell down

To better manage downside risk, the second-largest UK local government pension scheme has a plan to gradually alter its equity allocation.

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