CalPERS mulls leverage
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.
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Equity risk premium appears intact
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.
Return targets head downward
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.
QSuper’s value beyond a balance
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
Concerns over private equity leave pension funds wary
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
All aboard the change express as Railpen leaves the station
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.
Asset Allocation