Asset owners have a responsibility to consider whether their investment strategies are potentially damaging to long-term sustainable wealth creation and are, therefore, not in the best interests of beneficiaries, Harvard University’s David Wood says.
A study of the performance of companies over an 18-year period has found that high-sustainability companies out perform low-sustainability companies and have lower volatility.
Insuring against tail risk is too costly and a drag on long-term performance, with AQR Capital Management research revealing investors should instead make changes to their portfolio construction and risk management policies to better protect against unexpectedly large losses.
The $89.9 billion New York State Teachers Retirement System (NYSTRS) has achieved its best result for 25 years, returning 23.2 per cent for the year to June 30, 2011, with the strong performance driven mainly by its equity portfolio. NYSTRS, which claims to be one of the few fully-funded public pension funds in the country,
Uncertainty in global markets, and the potential for the Eurozone crisis to worsen, means investors should be focusing on capital preservation and shedding risk, says the managing director of Rogerscasey, and former CIO of the Kentucky Retirement Systems, Adam Tosh.
The arrest of a fundraiser for New York city comptroller John Liu and the ongoing federal investigation into his finances confirms the need for the governance reform planned for the city’s five public pension funds, Columbia Business School Professor Andrew Ang says.
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