Germany’s €70 billion pension provider VBL is increasing its diversification, notably investing in overseas real estate outside Germany for the first time. It's also increasing its tilt to international equities over European stocks, enabled by an organisational and investment process overhaul.
Engagement and stewardship in private equity has been left out in the cold. This is strange for an asset class with high returns and where the foundation is already in place for the asset manager to act on behalf of the asset owner for strong engagement. Bob Eccles encourages more action.
Are private equity mega funds in a category by themselves? Cambridge Associate's Andrea Auerbach argues they are, but not for the reasons that investors may think.
In an overhaul of investments impacting almost every asset class, Spain’s largest corporate pension fund, is looking to increase diversification and improve its ESG ratings. It’s decreased equities in favour of US government bonds as part of a strategy to protect the portfolio in a potential downturn, this strategy also includes tail risk hedging, currency hedging and slashing its hedge funds allocation.
The EDHECinfra/G20 survey of infrastructure benchmarking practices, which included representatives of 130 asset owners accounting for $10 trillion, has found that existing performance monitoring benchmarks are self-defeating for asset owners and managers. But improvement, in the form of a more representative, better defined benchmark, may be possible thanks to recent progress.
Investors in infrastructure do know how much risk they are taking and they are not happy about it, according to the 2019 EDHECinfra/G20 survey. This is the first installment of a three part series examining the results according to asset allocation, monitoring and risk management.
The £65 billion Universities Superannuation Scheme is investing in inflation-linked emerging market bonds to profit from developing economies higher bonds yields and levels of inflation.
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