TCorp’s chair on change
Philip Chronican had 35 year career in Australian banking including as head of ANZ, and is now on the board of NAB. He talks about transformational change at the A$92 billion ($68 billion) TCorp.
Why traditional investment committees can amplify group biases
Investment committee meetings, a governance cornerstone at every asset owner organisation, run the risk of amplifying group biases and social dynamics, and can push the IC towards recommending more extreme investment positions collectively than the average of their individual views. Bernhard Scherer, head of portfolio implementation at ADIA, unpacks the thesis in a new paper.
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Culture, structure for the long term
Ten Ideas to Foster Long-term Investing is the last of three related papers. The trilogy offers concepts and actions for pulling away from short-term thinking. Here are some of the key steps.
Treat patience as a finite resource
Funds in position to benefit from long-term investing must treat patience as a finite resource to be protected, otherwise they miss out on opportunities that come only with a long horizon.
TCorp pulls trigger on shake-up
The $70 billion NSW Treasury Corp has reorganised its investment staff to erase most sector divisions, in favour of more centralised portfolio construction and manager selection.
Cbus moving raft of assets in-house
Australia’s $34 billion pension fund for the construction industry is moving nearly half of its asset management in-house, starting with active equity and infrastructure.
OTPP makes paying well pay off
Ontario Teachers must pay well to attract talent for in-house management, but its results are worth it. The fund's ways of linking remuneration to performance hold lessons for the world.
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