The latest
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De-worming the Big Apple

A few weeks ago I had a meeting with Ranji Nagaswami, chief investment advisor to New York City mayor, Michael Bloomberg. She’s the first mayoral chief investment adviser in NYC to oversee pensions and investments, an area that is usually the domain of the comptroller. She is an experienced and dynamic enthusiast with ideas galore […]
Investor Profile

Future Fund’s single
total portfolio

For the past five years David Neal has been integrating the vision of “one team, one portfolio” into the culture of the investment team at the $77-billion Future Fund. This has now been set in stone – well, porcelain – with coffee cups bearing the moniker used by staff throughout the organisation. The slogan is […]
Investor Profile

Hedging and risk reduction pay off at ATP

The seriousness with which the Danish pension fund ATP takes hedging paid off last year, with the fund recording its best ever return. A combination of the hedging activity and a deliberate move to substantially reduce its risk meant the fund weathered the European storm despite the fall-off in interest rates. The 579-billion-Danish kroner ($98.4-billion) […]
Investor Profile

UN fund enters 21st century

With total portfolio costs of only 15.3 basis points, the $43-billion United Nations Joint Staff Pension Fund is one of the most efficiently run pension funds in the world – not bad for a fund that has investments in 41 countries and 23 currencies. This year it embarked on an operations overhaul to bring even […]
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US public pension funds underperform

US public-pension funds significantly underperform their global peers in real-estate portfolios due to a propensity to manage the assets externally, according to a new ICPM-sponsored research paper by three Maastricht University academics. Value added from funds management in private markets: an examination of pension fund investments in real estate looks at real-estate investing among the […]
Uncategorised posts

Rotman ICPM research

The Rotman International Centre for Pension Management (ICPM) has approved five research projects for funding this year, including a behavioural-finance project by Swedish academics, to investigate plan members’ views of the “extended” fiduciary duty of pension funds. This project, to be conducted by Joakim Sandberg, Anders Biel and Magnus Jansson from the University of Gothenburg […]
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