Positive stock and bond correlation will make portfolios more volatile

In a positive stock-bond correlation world, balanc
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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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Investors mull UK equity tilt on Brexit

Senior investment director on Cambridge Associates' global investment research team, Michael Salerno, analyses the impact of Brexit on UK equities, the British pound and tactical asset allocation.

Private equity delivers for NYC funds

In an investment milestone, each private equity allocation for the five pension funds that comprise New York City Retirement Funds experienced net internal rates of return (IRR) of over 10 per cent since inception in the third quarter of last year.

UK’s CEPB favours private markets

The UK’s £2 billion Church of England Pension Board, the pension fund for church clergy has changed strategy, slashing its equity portfolio in favour of private markets in a bid to seek stronger returns, income and a shelter from equity volatility.

Portable alpha slashes pension deficit

The $15 billion International Paper corporate pension fund may be on a de-risking glide path, but vice president of investments Robert Hunkeler proves there is still plenty of room for innovation, including portable alpha. All investments are outsourced.

Does it pay to pay performance fees?

A new study finds no statistical evidence that returns of pension funds that pay performance fees for active investing are significantly higher or lower than the returns of pension funds that don't.

Infrastructure prices don’t show bubble

A decade of price increases in unlisted infrastructure raised fears of an “infrastructure bubble”. On the contrary, this period was one of price discovery for a nascent asset class, research by EDHECinfra finds.

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