The $68 billion New Jersey Division of Investment (NJDI) has made claims to be the best performing public pension fund in the US in fiscal year 2009. This is made all the more impressive considering the internal investment team, which manages a large majority of assets, numbers only 16. Amanda White looks behind the scenes
CalPERS has made some significant changes to its securities lending policy document in order to reduce risk and improve counterparty diversification in the portfolio, including a reduction in the maximum exposure to any counterparty, from 30 to 25 per cent of the total program.
Asset consultants Russell Investments and State Street Global Advisors (SSgA) are both bullish on the Australian economy and equities, in particular, with Russell tipping industrials and a return of 10 per cent this year.
The $200 billion California Public Employees’ Retirement System (CalPERS) has hired Mercer Consulting review the investment office incentive compensation program, a design set up in 1997 under the guidance of the board’s compensation consultant Watson Wyatt.
The Wisconsin Investment Board is not tweaking its asset allocation or adding inflation-linked assets to its line-up in reaction to the market turmoil, rather, it’s continuing to focus on generating alpha from active management. Chief investment officer, David Villa, spoke with Amanda White about the fund’s disciplined approach to hiring and firing.
The $9.4 billion Los Angeles City Employees’ Retirement System (LACERS) has extended its request for a proposal for a general consultant to the end of January 2010, as it looks to consider for the first time using a pool of consultants to bid on special projects.
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