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
With hundreds of indexes, portfolio and risk analytics, and a growing emerging-markets and environmental, social and governance (ESG) focus, MSCI is a business in constant evolution, but chief executive and chairman, Henry Fernandez, says institutional investors are demanding further development, such as private-equity indexes. Fernandez has been chief executive of MSCI since 1996, when the
At least one state in the US is acting on the need for epic reform of its pension system, but the political difficulty associated with such reform – something all states are wary of – was demonstrated in the violent outburst by Illinois representative, Mike Bost, last week (see video) and the inability of representatives
The Ann F Kaplan professor of business at Columbia Business School, Andrew Ang will teach a case study on the Canadian Pension Plan Investment Board’s (CPPIB) reference portfolio in the fall. While for the most part complimentary of the approach and process, he challenges the Canadian fund to consider a more dynamic reference portfolio. The
Academics collide on the relationship between environmental, social and corporate governance (ESG), and alpha. One view is there is a clear link that can be uncovered by a deep dive into the underlying factors using a sophisticated operating engine. The other perspective is that the market will price in environmental and social factors, the way
In its most simple form, CalPERS defines sustainability as the “ability to continue”. This year CalPERS turns 80 and clearly “continuing” is something it wants to do. The strategy paper, presented to and endorsed by the board, explains the fiduciary framework the fund has adopted to integrate sustainability across the entire fund and sets out
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