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The CHf4 billion pension fund for Switzerland’s CERN nuclear research centre maintains a dynamic, tactical strategy that takes into account the market environment and the fund’s liabilities. Once risk levels are set, CIO Manola-Bonthond tweaks and adjusts to stay on target, employing particularly strict due diligence in areas such as private equity and hedge funds.

The $42 billion Illinois Municipal Retirement Fund is using its enhanced internal management capabilities to start a quantitative portfolio applying multifactor strategies. The strategy is designed to build some downside protection into the fund’s equities allocation.

The €72 billion Dutch metal industry pension fund has developed its own benchmark that combines ESG, long-term returns and current beneficiaries’ sensibilities with its previous passive strategy. The index’s various criteria have screened out many companies PMT previously held and reduced its allocation to US equities.