The State of Wisconsin Investment Board (SWIB), created in 1951, is responsible for managing the assets of the Wisconsin Retirement System (WRS), the State Investment Fund (SIF) and other state trust funds. SWIB managed more than $99 billion in assets as at 31 December 2015. The core fund, which is the largest of the funds managed by the SWIB, had the following asset allocation as at December 2016: equities 51 per cent, fixed income 29 per cent, inflation-sensitive 12 per cent, real estate 7 per cent, private equity 8 per cent, multi-asset 1 per cent. SWIB’s investment strategy also includes managing a majority of WRS assets internally. SWIB managed 64 per cent of WRS assets internally as at 31 December 2016.
A knowledge exchange between the State of Wisconsin Investment Board and its manager, Parametric, has seen the fund become comfortable understanding the instruments involved to manage a chunk of its total levered allocation in-house.
Sarah RundellJune 12, 2019
Hybrid pension schemes, combining both defined contribution and defined benefit characteristics, are best for governance because they align interest of both employees and sponsors argue David Villa, chief investment officer of the $91-billion State of Wisconsin Investment Board (SWIB) and Sorina Zahan, partner and chief investment officer of Chicago-based Core Capital Management, speaking at Conexus […]
Sarah RundellOctober 22, 2013
The funding levels of US public pension funds, falling from 100 per cent in 2001 to 77 per cent now, is the result of bad governance, according to David Villa, chief investment officer of the $91 billion State of Wisconsin Investment Board (SWIB). He says irrational governance and imprudent management has resulted in the funding […]
Amanda WhiteAugust 27, 2013