In 2012 there were 31 hedge fund managers on the Forbes 400 list, representing about 8 per cent of the wealthiest people in the US, up from 6 per cent the year before. Wealthy people on the whole don’t interest me, but innovation does. And the creation of wealth, and the creation of jobs and
Launched this week, CalPERS’ Sustainable Investment Research Initiative (SIRI) will drive the development the $250-billion fund’s first set of investment beliefs. While difficult to believe a fund of its size, reach and history could invest without a set of investment beliefs, it is encouraging to see that sustainability will be a core part of that
The findings from the first review of the Finnish pension system, commissioned by the Finnish Centre for Pensions, were handed down by Nicholas Barr from the London School of Economics and Keith Ambachtsheer from the Rotman International Centre for Pension Management last month. Although Helsinki in January is far from a party Ambachtsheer and Barr
I recently hosted a roundtable discussion about post-retirement solutions in the Australian superannuation market. Australia’s system is revered in many ways, but it’s curious to me that it can be a world-class system and yet have no real mechanism for providing retirement income. The $1.4 trillion Australian system is unique in many ways. Mostly that
An absence of appropriate ethical culture at financial services firms has been the biggest contributor to the lack of trust in the finance industry, according to a global survey of CFA Institute members, which attracted more than 6000 responses. Matt Orsagh, director of capital markets policy at CFA Institute, says to restore integrity in global
The new chairman of EDHEC-Risk Institute’s international advisory board, chief investment strategist at Swedish pension fund AP2, Tomas Franzen, says institutional investors should embrace academia and be open to applying research in the implementation of practical portfolio construction. He says that while investing is part art and part science, it is important to employ science
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