Constant improvement a core value at AP2
The total investment costs of AP2 are only 17 basis points, yet the portfolio is described by chief executive, Eva Halvarsson as complex and advanced. So how do they do it?
Sweden’s FTN focuses on fees and returns in latest procurement
Lower management fees and higher returns defined the latest selection process at the Swedish Fund Selection Agency in its latest awarding of active global equity mandates to 12 managers, its largest and most ambitious €20 billion ($23 billion) procurement so far.
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Not all fees are created equal
Could investment management fees be different? Nick Sykes at Mercer, suggests that an alternative fee structure that focuses on “idiosyncratic alpha” could benefit asset owners and managers.
Ditch managers, invest in corporate America
Warren Buffett says although outstanding managers are invaluable, the net result of hiring professional management is a minus. “More money is made in Wall Street through salesmanship than investment ability”.
We don’t have to be friends
“I don’t have to like you, we don’t have to be friends,” says Chris Ailman, chief investment officer of CalSTRS.
NZ Super: on a higher plain
Self-reliance on asset allocation and employing a partnership style with its managers – based on the mutual exchange of ideas – are the cornerstone of New Zealand Super’s evolved investment approach founded on the confidence of its investment ideas. David Rowley visited the NZ$29.6 billion fund to find out how it does this. On the climb towards the
Mercer capitalises on manager research
Mercer’s chief investment officer, Russell Clarke, explains how manager research helps create the 200 building blocks of an investment operation that has grown from $20 million a few years ago to $124 billion today and which covers – uniquely – all elements along the fixed income curve. Starting from scratch in 1996, Melbourne was
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