Japan’s GPIF and the next 100 years
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.
Velliv reset: More Danish funds lean into low cost DC model
In Denmark’s fiercely competitive commercial pension industry, Velliv was quick to take action with a root-and-branch overhaul of its pension provision when it experienced a drop in returns in the first half of 2024. It sacked its active equity managers and scaled up internal active strategies and low-cost, index-based investments instead, and stopped allocating to its $4.3 billion alternatives allocation. Thor Schultz Christensen, deputy CIO at Velliv, unpacks the change.
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CalSTRS ponders EM coal divestment
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.
Continuity, despite change, for FRR
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.
GMPF prioritises low costs in LGPS pool
The combination of 89 local government pension schemes, (LGPS), into a pool of funds means significant and large direct investment in the UK is possible when pension funds work collectively.
Behind Mass PRIM’s hedge fund portfolio
The US$60 billion Mass PRIM has recalibrated its hedge fund portfolio moving from fund of funds to direct relationships, reducing fees, and using managed accounts. So what’s next?
German fund ÄVWL’s anti-cyclical ethos
Long-term investment in real estate, infrastructure and asset based lending, including financing ships and aircraft where traditional bank backers have fled, make up the German fund’s strategy.
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