Texas Teachers’ growing pressure on hedge fund fees is working

The $202 billion Texas Teachers is pioneering effo
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TfL Pension Fund: A bespoke benchmark in Bridgewater mandate strikes gold

TfL Pension Fund: A bespoke benchmark in Bridgewater mandate strikes gold

Transport for London Pension Fund styled a bespoke benchmark to gold in its Pure Alpha mandate with Bridgewater. It has added hundreds of millions of pounds to the portfolio, says chief investment officer Padmesh Shukla. In a wide-ranging conversation, he also explains the rationale for reducing equity to just 18 per cent of the total fund and why emerging markets aren't offering the diversification or returns they used to.

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Managers eye Brunel’s private markets push

Brunel Pension Partnership, the £31 billion asset manager for 10 local authority pension funds in the United Kingdom, is in the process of allocating to a new cohort of managers across private equity and debt, infrastructure, and unsecured income.

Asset owners fear rising inflation and falling equity valuations

The 2022 annual CIO Sentiment Survey, a collaboration between Top1000funds.com and CaseyQuirk, finds asset owners most concerned about equity valuations and inflation. After three years of fee rises, asset owners are paying less for investments while CIOs in 2022 are also working with a smaller manager roster.

Beyond traditional portfolio construction: incorporating uncertainty

Incorporating uncertainty into the asset allocation process is a complicated but essential ingredient of building portfolio resilience, something investors are valuing more than ever in an environment where inflation, geopolitical and climate risks dominate. GIC and BlackRock have both developed asset allocation frameworks that incorporate investors’ aversion for uncertainty.

War in Ukraine threatens net zero targets

The UK's BT Pension Scheme's CIO Wyn Francis reflects on the pressure war in Ukraine will put on investors net zero targets.

Performance variation impacts treatment of infrastructure: PGIM

Historical performance and cash flow characteristics differ enormously among infrastructure asset sectors, and even between assets of the same sector, says the vice president of PGIM IAS’ private assets research program. But scarcity of data makes infrastructure performance notoriously hard to study.

SWIB’s priorities in a tougher investment landscape

Edwin Denson, executive director and CIO at State of Wisconsin Investment Board talks to Top1000funds about changes in investment strategy, noting that active management, and the need to take on more risk for the same return are guiding principles.  

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