Minnesota’s push into passive
A disillusionment with active has led Minnesota to double its passive allocation in public equities, a strategy that sits alongside a commitment to long-term investing in private markets.
Fairfax County Employees’ Retirement System says its allocation to digital assets has become the best-performing investment in the fund’s history. The $6.3 billion pension plan first invested in blockchain infrastructure and digital assets through venture funds in 2019, and early distributions are now beginning to arrive.
A disillusionment with active has led Minnesota to double its passive allocation in public equities, a strategy that sits alongside a commitment to long-term investing in private markets.
The Employees Retirement System of Rhode Island is looking to cut management fees and slash hedge fund allocations over the next two years, on the heels of lagging returns.
In the six years since Norway’s finance ministry approved the $871 billion Government Pension Fund Global invest in foreign real estate, its real estate arm has built a substantial portfolio.
With a unique long-term horizon – 100 years – Japan’s GPIF takes a different view of investing but is pragmatic enough to see that not all investors need to behave the same way.
CalSTRS focuses on fee reduction, using hedge funds for risk mitigation and ponders divestment from coal in emerging markets. Sarah Rundell interviews chief investment officer, Chris Ailman.
France’s €36.3 billion Fonds de Réserve pour les Retraites has a positive outlook for Europe and is prioritising “de-carbonisation” and active strategies to position the portfolio for new trends.
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