Alternative benchmarks attractive for Strathclyde

For many trustees, fundamental indexing is still t
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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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Strathclyde cuts equity allocation

The UK’s largest public pension fund is de-risking its successful equities portfolio and looking to private debt, emerging-market debt, global credit and UK infrastructure to fill the void.

USS goes direct in private markets

The UK’s $78 billion USS remains growth focused despite a funding deficit, employing direct investment in private markets and tapping US government bonds in anticipation of lower gilt prices.

LASERS targets alternatives

The $12 billion Louisiana State Employees’ Retirement System is overhauling its multipronged alternatives portfolio to concentrate on top-performing allocations and shake up the manager roster.

Temasek seeks tomorrow’s champions

The $203.5 billion Temasek is making plenty of shifts in its flexible equities portfolio, to target markets, sectors or entities with the competitive advantage for global growth.

CPPIB active in emerging markets

The Canada Pension Plan Investment Board has increased its focus on emerging economies, using active management to access local expertise and maximise its advantages of scale.

Future Fund revamps equities

Australia’s sovereign wealth fund has revamped its equities portfolio to take on deliberate factor risk and target idiosyncratic risk. The fund’s head of equities, Björn Kvarnskog, explains.

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