Equity portfolios’ tell-tale turnover
Turnover in a portfolio reflects the extent of a manager’s long-term focus. A new report finds most equity managers replace their shares at a rate more than twice what’s thought of as ideal.
Nest favours institutional-first managers as retail exodus pressures private credit
Nest, the largest workplace pension in the UK, says that private credit managers who prioritise institutional clients will be more favourably viewed. The £61 billion ($82 billion) fund has awarded a £450 million ($605 million) US direct lending mandate to Crescent Capital this month, citing the manager's institutional-client-first approach as a key attraction.
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Ilmarinen sheds bonds for real value
Ilmarinen CIO Mikko Mursula looks to shrink its holdings in bonds while adding real estate and equity away from Europe, as the fund seeks protection from potential interest rate moves.
Alternative credit on LD’s short horizon
In 2017, Denmark LD chief financial officer Lars Wallberg plots a push into unlisted credit, complementing a key exposure to environmental services, to manage his fund’s maturing profile.
OPTrust is making investment look easy
Canada’s OPTrust has impressive stats. In 2015, it returned 8 per cent and remained fully funded. Its plans for the year ahead include infrastructure, hedge funds and managing even more in-house.
Distressed Kentucky fund regroups
A struggling pension fund for Kentucky employees has cut back on hedge funds while remaining averse to long-term risk and hopeful of a better climate for US equities to help it recover.
Finnish pension fund counters low rates
Finland’s €18.5 billion State Pension Fund (VER) will slightly increase its allocation to hedge funds, in order to counter the impact of low interest rates on its fixed-income holdings.
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