Investors should backoff policy: Kay

Pension funds have “no business” engaging with
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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 the Future Fund built a TPA culture that scales

The total portfolio approach has allowed Australia’s sovereign wealth fund to capture the themes that will power markets and economies for decades to come, said director of thought leadership Craig Thorburn – but that doesn’t mean it’s not hard to scale.

Crisis the real test of LP-GP relationships

When Blue Owl Capital came under sustained media pressure over redemptions to its private credit funds, Michael Hitchcock, chief executive of the South Carolina Retirement System Investment Commission (RSIC), didn’t waver. He thinks that what allocators learn from their managers in a period of crisis tells them more than any official due diligence could.

Fed independence a key US inflation variable: Former CEA chair

The path of US inflation hinges on the future of the Federal Reserve, with leading Harvard economist and former Obama administration Council of Economic Advisers chair Jason Furman warning that another variable for inflation is whether the central bank can remain independent.

Public equity manager challenges the case for private

Loomis Sayles’ Aziz Hamzaogullari has questioned whether asset allocators are giving private equity more credit than it is worth, saying the case for investing in PE rests on flawed return measurement, hidden risks and high fees and that public equities should be treated with the same “patience” that PE receives.

Macquarie: Deglobalisation the next inflection point in real assets

Global governments are partnering with private investors to boost their domestic infrastructure and become more self-sufficient in a geopolitically fragmented world, according to Ben Way, global head of Macquarie Asset Management, who said that constrained public balance sheets are increasingly reliant on private capital to meet their infrastructure needs.

Investors put private equity performance under the microscope

Investors are seeking better performance attribution in private markets to better understand underlying return drivers – especially in private equity, where metrics such as IRR or multiples are increasingly criticised for being opaque. HarbourVest made the case for an alternative attribution method at FIS Harvard.

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