CalPERS has instigated an extensive review of its environmental, social and governance policies and practices and its move towards fuller integration of ESG factors into its investment decision-making which will include an overhaul of its procurement policies for external managers.
The volatility in global markets has prompted the $154 billion CalSTRS to an underweight global equities position, moving assets into cash, its chief investment officer, Chris Ailman, said.
China experts are predicting the country’s growth will slow in the medium- to long-term as the government undertakes the difficult task of rebalancing the economy away from its dependence on investment and exports.
The asset allocation of corporate pension plans should be driven by corporate finance not asset management according to Bernd Scherer, affiliate professor of finance at EDHEC Business School, and instructor of an upcoming seminar on portfolio construction and risk budgeting in Singapore.
There’s been a little bit of chest beating of the gorilla type in the US, on both the political and finance sides of the fence. I can’t help thinking the testosterone levels are getting a little out of control and some of the behaviour has been more about protecting territory rather than acting in the best interests of the electorate, clients, beneficiaries, or neighbours.
As stock markets continued to be volatile and bears abounded, Jim Rogers, the co-founder with George Soros of the Quantum hedge fund, was one of few bullish voices. Rogers said that commodities will defy a stuttering world economy and depressed financial markets to enjoy a 20-year bull run.
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