Investor Profile
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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CalPERS assumes lower returns
CalPERS has set its latest four-yearly capital market assumptions, that feed its strategic asset allocation. The $323 billion fund expects lower returns and more volatility.
Texas Teachers bears down on fees
The $140 billion Teacher Retirement System of Texas is renegotiating its deals with hedge fund managers including moving to a 1-and 30 fee model as it looks to realign fees across the board.
OTPP: an innovator’s tale
OTPP is “on the cusp of unleashing a whole brand new level of innovation in the organisation that has not seen in the past 15 years."
Hedge funds still in style at Varma
Reima Rytsölä, chief investment officer at Finland’s largest private pension insurance company, sticks with the fund’s longstanding interest in hedge funds and extends its risk premia strategies.
LD innovates on equities, fees
Danish pension fund Lønmodtagernes Dyrtidsfond has embraced innovation, introducing four buckets for a more dynamic equities portfolio and co-investing with peers to get top value for fees.
UTAM favours equities, private credit
The University of Toronto Asset Management Corporation adopts passive moves into US equities, active allocations to international shares and select opportunities in private credit markets.
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