Top 20 managers lift share of global market
The largest 20 funds managers in the world lifted their combined market share last year as the industry recovered from two years of funds under management outflows.
Fairfax County Employees’ Retirement System says its allocation to digital assets has become the best-performing investment in the fund’s history. The $6.3 billion pension plan first invested in blockchain infrastructure and digital assets through venture funds in 2019, and early distributions are now beginning to arrive.
The largest 20 funds managers in the world lifted their combined market share last year as the industry recovered from two years of funds under management outflows.
Some sort of shape is starting to take place, post-global crisis, as to how the biggest, longest-term investors are spending their money. If the endowment model was the one to follow for the past 20 years, the sovereign wealth fund model may be the one to follow for the next.
The Netherlands, Switzerland and Sweden were ranked the top three countries for their pension systems in the second annual study which rated adequacy, sustainability and integrity of both public and private pensions around the world.
Most public sector pension funds are subject to some sort of political interference, notwithstanding the best efforts of fund trustees and staff. Few, however, can rival the experience of America’s third-largest fund, the New York State Common Retirement Fund.
The $4.75 billion (£3 billion) UK Merchant Navy Officers Pension Fund has upgraded its relationship with consultant Towers Watson, having appointed the firm as its “delegated chief investment officer”, which is the first such arrangement for the consultant.
The biggest decision facing pension fund investment committees this year could well be their position on currencies, particularly the greenback and the euro. The currency decision is never an easy one to make and at the moment it seems particularly difficult as politics is overlaid onto market fundamentals.
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