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Investor Profile

Oregon’s real estate revamp

Oregon State Treasury has de-risked its $12 billion real estate allocation, moving away from closed end, private equity-style investment and its associated inherent cyclical risk and total return focus. Building in more liquidity and transparency, reduced volatility and lowered fees via evergreen manager partnerships in separate account and open-end fund structures.
Sustainability

Dutch fund prioritises labour rights

The €9 billion ($10 billion) Dutch fund for disabled workers, PWRI, has introduced a proprietary index that tilts towards companies that prioritise workers’ rights and health and safety issues. It’s a revolutionary approach to reflect the fund’s distinctive ESG priorities and a guide for other investors wanting to prioritise the “s” in ESG.
Risk

NZ investors act on terror attack

New Zealand’s largest investors are urging Facebook, Google and Twitter to take more responsibility for what is published on their platforms, following the live-streaming and sharing on social media of last week’s Christchurch terror attacks. They are calling on other global investors to act with them.
Asset Allocation

UK’s CEPB favours private markets

The UK’s £2 billion Church of England Pension Board, the pension fund for church clergy has changed strategy, slashing its equity portfolio in favour of private markets in a bid to seek stronger returns, income and a shelter from equity volatility.
Investor Profile

Portable alpha slashes pension deficit

The $15 billion International Paper corporate pension fund may be on a de-risking glide path, but vice president of investments Robert Hunkeler proves there is still plenty of room for innovation, including portable alpha. All investments are outsourced.
Manager Relationships

AP2’s relationships in China

In the next of this new regular series, we examine the relationships that evolved as Sweden’s AP2 decided to invest with local managers in China. The story examines the process for choosing and monitoring Chinese managers, and the burgeoning focus on sustainability in that market.
Strategy

Tough times greet new CalPERS CIO

Ben Meng isn’t easing into his role. The new CIO of CalPERS faces three new board members, a stressed private equity program and executive turnover, all under the pressure of a 70 per cent funded status and a maturing membership at the $340 billion fund.
Investor Profile

Northern LGPS forges own pooling path

The UK’s £45 billion Northern LGPS pool has eschewed creating a separate FCA-regulated entity, seeing it as an unnecessary expense. Moves in infrastructure and private equity have also reflected the asset pool’s laser-like focus on keeping costs down.
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