Scott Chan is shocked the market hasn't reacted more to the crisis emulating from the US-Israel-Iran conflict. But the CalSTRS CIO is confident its one fund approach allows it to position dynamically and ensure diversification no matter what is presented.
Investment managers in Europe fail to employ techniques that avoid generating overly-concentrated portfolios because of poor input estimation, and do not fully take into account extreme risks when constructing portfolios, according to research by the EDHEC Risk and Management Research Centre.
The $59 billion New Jersey Division of Investment, has made several changes to its alternatives investment portfolio including a slowdown in new commitments, on the back of a belief that large institutions with high allocations to alternatives will be forced to sell portions of their portfolios in order to raise liquidity and rebalance their overall
Five consecutive days leading into March were the most volatile on record for UK final salary pension schemes since accounting standards were changed in 2001, reflecting the risks associated with funding dependence on investment markets.
A number of Ivy League universities – including Yale, Cornell and the University of Pennsylvania (Penn) – are directly feeling the affects of the negative performance of their endowment funds, and are being forced to cut operating budgets for the 2009/10 financial year.
Chief investment officer of the US$81 billion Teacher Retirement System of Texas, Britt Harris, has offered to forego an estimated $167,935 in performance incentive pay for 2008. At the most recent board meeting, the TRS board accepted Harris’ offer and also voted to defer all remaining investment division performance pay until the fund experiences a
At the age of 82, modern portfolio theorist, Harry Markowitz still has a lot to say about the state of play in investment management.
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