Fund managers lack business skills

Asset owners examining whether to set up long-term
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Asset Owner:PGGM / PFZW

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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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Consequences of short-term investment

Equity managers are skewed to potentially sub-optimal short-term investment, a new study shows, with little understanding of opportunities missed, risks ignored and hidden costs.

NZ Super cleans out its carbon

Investors are not getting paid for taking on carbon risk according to New Zealand Super, prompting the fund to move its global passive equities portfolio to low carbon.

AustralianSuper’s equities ride

The large size and penchant for active investment of the $120 billion AustralianSuper present both opportunities and challenges for its fund managers and inhouse equities team.

PMT builds equity benchmark

PMT, the $81 billion Dutch pension fund for metal and technical workers, will introduce its own bespoke developed market equity benchmark to help align investments with its ESG principles.

Crisis plan can’t be bonds alone

In recent years, bonds have been a life raft when equity markets have fallen. But this negative correlation is not a given. To prepare for the next crash, investors need a robust, tailored plan.

Factors trump skill: MSCI

MSCI research has shown that, among top-performing funds, more than half of active returns come from factors, rather than manager skill, and style factors have the biggest impact.

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