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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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How a 15-minute survey helped Singapore become an AI superpower

A decision by government-backed AI Singapore to rank organisations according to their awareness of and competency in AI before working with them has helped the nation become a global AI superpower, ranked behind only the US and China. The approach is also driving healthy ROI on AI projects. 

The five factors aligning to support EM debt outperformance

Pictet Asset Management believes that declining emerging market policy rates and rising global trade will drive the performance of EM debt – and if the US dollar declines and local manufacturing rebounds, we could see a “super boom”.

Beyond the chaos, Trump’s unwitting role in a new equilibrium

Despite the apparent chaos and US President Donald Trump’s many idiosyncrasies – and those of the people he’s surrounded by – it does not signal that the US is declining in either power or influence, and a ‘new equilibrium’ will emerge, the Fiduciary Investors Symposium in Singapore heard.

CDPQ balances equity gains with real estate woes

Equity and infrastructure drove gains at C$473 billion ($329 billion) Caisse de Depot et Placement du Quebec, but “persistent headwinds” in real estate allocation given the fund’s above benchmark exposure to US offices in poorly performing cities New York and Chicago dragged down performance in 2024.

Inside NEST’s ‘serendipitous’ deal for IFM stake

NEST’s purchase of a 10 per cent stake in the Australian industry superannuation fund-owned IFM Investors marks the latest development in the trend of pension funds buying into the asset managers they’ve traditionally only allocated to.

USS calls time on emissions reporting

USS has steadily reduced the carbon footprint of its portfolio but real world carbon intensity and global emissions have climbed relentlessly higher. Now the investor says it is going to focus more of its effort on engagement with policymakers than reporting its emissions.

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