APG has successfully shifted its smaller pension fund clients to the new defined contribution pension system and now begins the huge task of moving the giant ABP as well. The defined contribution system has many implications including shedding more than 1000 staff at APG and moving investments more into riskier assets.
As the Australian superannuation funds evolve and get bigger they face a question of whether to copy the organisational structures of their bigger, more sophisticated Canadian counterparts, or find their own way that more adequately befits some of their unique features and better serves members.
Managing costs is the central driver behind €470 Dutch civil service scheme ABP’s recent decision to switch much of its public market allocation to passive, index-led strategies, according to a spokesperson at the fund. The low-cost strategy at Europe’s largest pension fund is accompanied by sustainability and simplification priorities.
Increased scrutiny on the transparency of disclosures is driving measurable improvements among some of the world’s largest asset owners, as refinements to the Global Pension Transparency Benchmark methodologies and board oversight boost attention on transparency.
CalPERS stands out among its global peers with three women leading the organisation as chair, CEO and CIO. Amanda White spent time (on zoom) with the group to find out what drives the leadership team and how collaboration and a shared mission are creating an innovative investment culture.
The 2023 CIO Sentiment Survey, a collaboration between Top1000funds.com and CaseyQuirk, finds asset owners focusing on agility as they observe dramatic market changes not seen in a generation. Only 36 per cent of CIOs are confident they will reach their return targets in 2023.
The use of technology has the potential to transform the investment industry bringing down the cost of asset management, exponentially increasing innovation and building more resilient and adaptive portfolios. So investors need to move now to keep pace with the change. Amanda White talks to Herman Bril.
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Organisational Design