Swedish buffer funds AP2 and AP4, have hailed active management as a major driver of profits in the first half of the year, at a time when the Government has challenged the value of active management and launched a review of the funds’ costs management.
CalPERS is contemplating an incentive schedule for senior investment executives that builds in downside risk, by expanding the range of the factor multipliers for the quantitative elements of investment performance plans, a move which could potentially eliminate a small compensation incentive award.
A focus on governance and sustainability has been recognised by APG Asset Management, in appointing former global chief executive of ING Investment Management, Europe, Angelien Kemna, as successor to chief investment officer Roderick Munsters, the man who has sat at the helm of two of the Netherlands’ biggest pension funds.
The New York State Teachers Retirement System has voluntarily withdrawn active participation in the United Nations Principles for Responsible Investment (UNPRI) initiative but will continue to support strong corporate governance principles through memberships in the Council of Institutional Investors and Ceres.
Chief research strategist and head of beta research at RogersCasey, Cynthia Steer, takes a summertime look at the “New World” of investing. She compares today’s investment challenges to those of gardening, and in contemplating the stoicism and constancy of long-time gardeners and farmers, she notes that portfolios today need to be re-constituted, the risk within
CalPERS will continue its securities lending program following an annual review, despite significant pressure on its collateral pool, with income of $220 million generated for the year to March but unrealised losses on the internal collateral reinvestment of $854 million.
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