Crisis plan can’t be bonds alone
In recent years, bonds have been a life raft when equity markets have fallen. But this negative correlation is not a given. To prepare for the next crash, investors need a robust, tailored plan.
Germany’s largest pension fund VBL ups diversification; invests more abroad
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.
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Factors trump skill: MSCI
MSCI research has shown that, among top-performing funds, more than half of active returns come from factors, rather than manager skill, and style factors have the biggest impact.
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.
First benchmarks for infrastructure
The first-ever benchmarks for private infrastructure equity and debt investments have been provided by EDHEC Infrastructure, which is releasing hundreds of new indices to end confusing packaging.
Sampension seeks more control
As the Danish labour market pension fund puts more into alternatives and illiquid assets, it is also in talks with managers to increase its control over investment decisions and lower its costs.
MSCI finally adds China to indices
MSCI’s long-awaited decision to include China’s A shares in its emerging markets and ACWI indices will affect more than $1.6 trillion in funds that track the MSCI Emerging Markets In
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