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Code of conduct for proxy voting industry

The European Securities and Markets Authority (ESMA) has developed a set of high level principles with the aim of encouraging the proxy voting industry to develop its own code of conduct. Speaking at the ICGN conference in Milan, the head of the investment and reporting division at ESMA, Laurent Degabriel, said it will set a […]
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Breakfast with AQR’s Cliff Asness

Having a breakfast meeting with Cliff Asness is a wake-up call. He will let you know if you’re late – something he holds in very little regard. He admits he has to constantly remind himself that just because he’s 20 minutes early to everything that others are not automatically then 20 minutes late. Asness is […]
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Ownership: a forgotten art?

While the responsible investment field has come a long way, the majority of investors are still treating it as an overlay, rather than truly integrating it into investment decision-making. This is not an ideal situation for the investment industry, not to mention society at large, but it presents an opportunity for those that do integrate […]
Editorial

Smart beta: where is the value?

I’ve been contemplating the “smart beta” wave the industry seems to be riding at the moment. Cynically, part of that contemplation asks whether there is any innovation at play or whether it’s simply the industry playing with nomenclature once again. The answer is confusing, for while I’d like to be able to write it off […]
Asset Allocation

Global CIO survey: lowered expectations

Connecticut-based financial services management consultant, Casey Quirk, and institutional investment specialist publication, top1000funds.com, joined forces in a global chief investment officer survey to measure the sentiment of asset owners, and the extent to which the 2008 crisis has had an effect on the behaviour of internal investment teams, their outlook and corresponding asset allocation. With […]
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ATP reunites alpha and beta after 6 years

Alpha and beta rely to a large extent on exposures to systematic risk factors, so goes the “2013 thinking” of ATP in reversing the decision to separate alpha and beta in its investment portfolio six years ago. ATP has separate hedging and investment portfolios, with the hedging portfolio significantly larger at around DKK 670 billion […]
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