South Africa’s GEPF feels inflation’s impact

Africa’s largest pension fund, South Africa’s
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Inside the year-and-a-half-long review into ATP’s complicated portfolio

Inside the year-and-a-half-long review into ATP’s complicated portfolio

Danish pension giant Arbejdsmarkedets Tillægspension (ATP) has been urged to cull risk, establish formal portfolio benchmarks and reduce private markets exposures, according to an external review committee which handed down a 536-page report into the fund’s investment operations after an 18-month review. Following the release of the report by the board this week, co-author of the review Andrew Ang unpacks the findings with Top1000funds.com.

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Braving the unknown: high yield debt

Option-adjusted spreads for US high yield are above 700 basis points, a stress event threshold only breached four other times in the last two decades.  Mercer's Nathan Struemph examines the considerations for investors looking at these investments including the range of return outcomes in prior stress events, the path investors had to experience in reaching those outcomes, and the impact of implementation timeliness on returns.

Building better retirement systems

The global COVID-19 pandemic has highlighted the need for better risk management tools to handle longevity and ageing. This paper by Wharton's Olivia Mitchell, offers an assessment of the status quo prior the coronavirus; evaluates how retirement systems are faring in the wake of the shock; examines insurance and financial market products that may render retirement systems more resilient for the world’s ageing population; and looks at the potential role for policymakers.

Embrace a systems framework

COVID-19 has revealed some fundamental design flaws in our global economy, including the relentless pursuit of economic growth - not only at the expense of the environment but also at the expense of people. The investment industry has a role to play in fixing these design flaws. A systems framework for investing could be the answer.

SDG asset owner platform launches

Investors in Canada and Australia have joined the Dutch funds, APG and PGGM, in making their intention of an AI-driven SDG investment platform a reality - the Sustainable Development Investments Asset Owner Platform.

Dangers in the next policy response

FIS 2020 Digital delegates heard how the monetary response has successfully managed many elements of the crisis so far. Getting the next phase of the policy response right, particularly navigating fiscal policy, will be more challenging.

Prepare for new Asia-led regionalism

Globalisation will be replaced by a new regionalism with Asia at its heart. Coupled with automation and AI increasingly replacing traditional labour-intensive production, emerging economies with a youth bulge face challenging time ahead, according to Ian Goldin, professor of globalisation and development, Oxford University.

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