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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Hostplus wins with illiquid assets
The $25 billion Australian retirement fund for hospitality workers is able to invest in illiquid assets such as infrastructure due to its young membership. The approach has led to top-ranked returns.
TRS fuels up for energy surge
The $155 billion Teacher Retirement System of Texas is restoring its target allocation to energy, as experts see favourable conditions due to higher US oil production and continued reliance on fossil fuels. This is at odds with other investors divesting from fossil fuels.
Adventist Health’s risk appetite grows
The $6 billion Adventist Health System is considering more risk as it grows and is seeking to gain from efficient processes. The goal remains maximum effectiveness in provision of healthcare.
AP7 targets anti-climate lobbying
The $53.8 billion AP7 is using shareholder resolutions to push companies to reveal their true positions on the Paris agreement and other measures. Corporations are taking notice and changing.
Utah Retirement to pick PE managers
Utah Retirement Systems considers its strong balance sheet, history of long-term relationships with managers and nimble governance advantages as its search for GPs in private equity begins.
CalPERS manages outsized equity risk
The $335 billion California Public Employees' Retirement System warned this week that it is greatly exposed to a downturn in global equity markets, as it prepares to monitor active risk closely.
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