Now in its fifth year GRESB, the benchmark that measures the sustainability performance of real estate portfolios, has been influential in changing the sector’s performance and environmental impact. Now Nils Kok, executive director of GRESB and associate professor in finance at Maastricht University, says that infrastructure and private equity assets are ripe for a benchmark
Given the importance of equity risk premium, it is surprising how haphazard the estimation of equity risk premiums remains in practice. This paper by Aswath Damodaran at the New York University Stern School of Business examines a number of different approaches to determining the equity risk premium and why different approaches yield different values. It
The $6.6 billion University of Toronto Asset Management made some significant active tilts last year resulting in the return on the university’s main portfolio exceeding target return by about 10 per cent. Amanda White spoke to president and chief executive, Bill Moriarty. Last year was a reasonably easy environment in which to make better
Investors are all talking about the same thing –that alpha will come from selective opportunities and implementation techniques within sectors, and the next year will be less about strategic or beta bets. Specifically credit opportunities remain front and centre of the collective investors’ radar. Managers, it turns out, are all also talking about the same
The PRI has launched a guide for ESG integration among general partners in private equity, looking at ESG within a GP organisation and within its investment process. The guide provides suggestions on how to incorporate ESG factors into ownership practices and processes, including seeking appropriate disclosure from these companies on ESG risks and opportunities and
The United Parcel Service corporate pension fund is finalising an asset liability study this year which will result in a new strategic asset allocation. The $28 billion US fund, typically has a lower allocation to fixed income than its peers and has a reasonably aggressive portfolio for a corporate defined benefit fund. It is a
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