Major asset allocation review for $15b Thai fund
The $15 billion Thai Government Pension Fund is looking at a major asset allocation shift, having ridden out the financial crisis with a massive and fortuitous overweighting to bonds.
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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Why cash should not be king … often
The superannuation industry’s promise to deliver steady investment returns over the long-term is unnecessarily compromised by funds’ need to maintain a high level of liquidity.
Politicians, fraud and investment professionals at New York State’s $124b fund
Most public sector pension funds are subject to some sort of political interference, notwithstanding the best efforts of fund trustees and staff. Few, however, can rival the experience of America’s third-largest fund, the New York State Common Retirement Fund.
Harvard endowment hones managers
Harvard Management Company will increase manager concentration levels, look closely at commodities and real estate, and bring more assets in-house where appropriate, as it moves into fiscal year 2011 with an unchanged long-term asset allocation.
Funds seed for the future
Two major pension funds from the Netherlands and Canada – ABP and OMERS – have seeded an innovation and technology program to invest in their domestic knowledge economies. Called inkef capital, it has already begun searching for the success stories of the future.
NYSTRS defends defined benefit funds
The defined-benefit New York State Teachers’ Retirement System is defending its 8 per cent assumed rate of return at a time in the US when the limelight is focussed on pension fund structural issues.
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