Oregon makes fees work
The $77. 3 billion Oregon Public Employee Retirement Fund has continued to achieve top decile returns at the same time as de-risking and reconstituting half its giant portfolio.
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.
The $77. 3 billion Oregon Public Employee Retirement Fund has continued to achieve top decile returns at the same time as de-risking and reconstituting half its giant portfolio.
Innovation is more important than ever given the uncertain and ambiguous times that lie ahead for institutional investors like climate change, political dysfunction and poor returns. “Returns can only come from an ecosystem that works and we need innovation to do this,” said Roger Urwin, global head of investment content, Willis Towers Watson speaking at the Fiduciary Investors Symposium at Cambridge University.
The Future Fund has appointed Sue Brake to the role of deputy CIO, portfolio strategy as part of the revamp of the $145 billion sovereign wealth fund’s investment team. She joins Wendy Norris deputy CIO for private markets and David George who is deputy CIO for public markets.
Progressive-minded asset owners could do well to unbundle their consulting dollars and fill the intellectual gap in the institutional marketplace around niche opportunities, and potential sources of alpha, by sourcing independent research ideas and due diligence.
Last year, America Red Cross shut its investment office and handed over the keys of its $3 billion investment portfolio to Cambridge Associates. More pensions and endowments will do the same, argues new research from Cerulli Associates.
The challenge around geopolitical risk is determining how sustained or long-lasting any particular risk is. Angela Rodell, CEO of Alaska Permanent sees opportunity in having a view of the world.
Organisational Design