The chair of the International Forum of Sovereign Wealth Funds, Adrian Orr, says entities such as the IMF could pave the way for large-scale investment in emerging-market infrastructure projects.
CalPERS’ board has named Meketa its new infrastructure consultant, citing its high ratings and setting aside investment office calls to have a single adviser for infrastructure and real estate.
Prominent CIOs say active management’s place is secure, even as passive strategies surge in popularity. But the two types of strategies aren’t as distinct as in years past.
CalPERS is happy with its consultants, except for their performance in recommending ways to control fees and costs and their presentation of new investment ideas, a board rating reveals.
Nevada’s public pension plan only pays 11 bps in total costs due to 80 per cent of the fund being indexed. But CIO Steve Edmundson says low fees are a byproduct, not the reason for the strategy.
CalPERS has expanded its tracking of strategic metrics in its ongoing review of performance, which could lead to some tough queries making their way into online recordings of board sessions.
The board of the United States’ largest pension fund calls in the experts as it considers applying leverage in its portfolio, part of efforts to improve a 68 per cent liability-funding ratio.
The equity risk premium will reflect long-term averages, based in part on a Financial Analysts Journal article that shows buybacks are now top drivers of equity returns, replacing dividends.
The challenging market environment is putting pressure on pension funds. In response, many are lowering return targets, rather than taking on more risk or requesting larger contributions.
With the transition from a closed fund to one that anyone can join, QSuper chair Karl Morris discusses how the delivery of financial advice will have the biggest impact on the lives of members
Institutional investors are clearly attracted to private equity, but remain wary of the sector for its perceived lack of transparency and ability to be measured, high fees and a sense that they cannot invest into the sector as truly equal partners. “It’s clear that now is a time with a lot of flux in private... Read more »
At the end of a corporate review process that lasted eight months, involved 23 meetings of a steering committee and produced 60 working papers, the UK railways pension fund Railpen was left with 422 action items. “We’ve done 224 of them,” Chris Hitchen, Railpen chief executive, told the Fiduciary Investors Symposium (FIS) at Harvard University.... Read more »