Every cloud has a silver lining for infrastructure

Fiscal constraints around the world, but especiall
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Rest Super’s selective approach to PE pays off as program comes of age

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.

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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.

Equity risk premium appears intact

The equity risk premium will reflect long-term averages, based in part on a Financial Analysts Journal article that shows buybacks are now top drivers of equity returns, replacing dividends.

First benchmarks for infrastructure

The first-ever benchmarks for private infrastructure equity and debt investments have been provided by EDHEC Infrastructure, which is releasing hundreds of new indices to end confusing packaging.

Sampension seeks more control

As the Danish labour market pension fund puts more into alternatives and illiquid assets, it is also in talks with managers to increase its control over investment decisions and lower its costs.

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