The governance-performance link
Academics at Switzerland’s University of St. Gallen find that governance is positively related to both excess and risk-adjusted net returns but only marginally related to funds’ asset choices.
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GPIF, ADIA: complex success
Japan’s GPIF has only recently moved into equities, while ADIA has a rich history of investing in a variety of asset classes. The returns of both giants show the benefits of diversification.
G20’s climate reporting proposal
A Financial Stability Board task force has released its report on company disclosure of climate risk. Its recommendations include placing responsibility for climate change reporting with boards.
Long-horizon premium: up to 1.5%
A study from the Thinking Ahead Institute finds the premium for long-horizon investing is up to 1.5 per cent a year and identifies eight strategies for reaching that target.
CalPERS assumes lower returns
CalPERS has set its latest four-yearly capital market assumptions, that feed its strategic asset allocation. The $323 billion fund expects lower returns and more volatility.
MSCI finally adds China to indices
MSCI’s long-awaited decision to include China’s A shares in its emerging markets and ACWI indices will affect more than $1.6 trillion in funds that track the MSCI Emerging Markets In
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