AP funds reform: Expanded opportunity in private equity

Much anticipated reform of Sweden's five buffer fu
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Future Fund sees EM shifts widening alpha opportunities; CEO to depart

Future Fund sees EM shifts widening alpha opportunities; CEO to depart

Australia’s Future Fund has highlighted strong performance in global equities, particularly in Japan and emerging markets, as a key return driver for its last reporting period. Despite increased concentration in EM indexes, new CIO Richard Brandweiner said it could lead to more alpha opportunities. Meanwhile, CEO Raphael Arndt said the time has come for a “fresh leader” to steer the fund as he prepares to close out a close to two-decade tenure with the $255 billion investor.

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Hawaii expands CRO strategy

The new CIO at the Hawaii state pension fund is looking for additional sources of uncorrelated return, including hedge funds, and will look to add new managers to the lineup. Sarah Rundell talks to Elizabeth Burton.

Ignore diversification: BCI’s Dunatov

Stefan Dunatov, head of investment strategy and risk at Canada’s $170 billion British Columbia Investment Management, says long term investors should forget about diversification at the strategic level and instead focus on buying growth beta assets.

Air Canada’s TCC prepares for take off

Air Canada, the pension fund for Canada’s flagship carrier, is preparing to manage external assets in a bid to let other pension funds and institutions tap into its top decile performance and 65-strong expert internal team.

Active US large cap adds nothing

Active investing in US large caps has detracted value from US pension fund portfolios and exposures should be indexed, according to new research by CEM Benchmarking. This could result in huge cost savings and have implications for how pension funds spend their active budget.

KLP shows the active side of passive

Norway’s fund for local government employees and healthcare workers, KLP, abides by strict internal ESG principles. Sarah Rundell looks at how this translates to investments in emerging markets, its view of indexes and a concentration of manager relationships.

Past returns: don’t even guide the past

The Thinking Ahead Institute's Tim Hodgson argues that past returns were over-stated, and future returns will be lower. More accurately, total value created will need to increase for shareholders to retain the same amount of value as previously.

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