AP3 explores equities and alternatives

Listed equities and alternatives remain the strong
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Rest Super’s selective approach to PE pays off as program comes of age

Rest Super’s selective approach to PE pays off as program comes of age

A concentrated bet on fewer, better GP relationships is paying off for one of Australia's largest superannuation funds. Built on selective manager and deal selection rather than a broad roster, the A$112 billion ($78 billion) Rest Super delivered private equity returns more than double the peer average last financial year, as the fund proactively courts top-tier PE firms instead of waiting to be approached.

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Coronavirus: market impacts

The coronavirus has triggered a market correction, bringing the S&P 500 off its all-time high. But as always an analysis of fundamentals, and the relationship between price and value, is essential for allocating capital. So could this be a time to buy?

Oregon PE revamp shakes off GFC legacy

Oregon Investment Council has committed to investing $3 billion a year in private equity, with the smooth pacing strategy part a response to the fund’s overweight position to poor performing vintages as a result of its allocations before and after the GFC. The investor is also focusing on manager relationships with a focus on accessing new relationships and upsizing the best existing ones; and a new strategy that sees no provider in charge of more than 5 per cent of the portfolio.

India’s NIIF gathers steam

India’s new sovereign development fund has raised a further £1.3 billion, on top of the government's $3 billion, to finance domestic infrastructure and growth. Key to its success is the unique investor-owned structure, similar to Australia's IFM Investors, and generous co-investment terms.

The future is quant

The pace of technological change and advances in machine learning and quantitative methods will result in a “shake out” in investment management according to Campbell Harvey, Professor of Finance at Duke University.

Future Fund sticks with hedge funds

Australia’s A$168 billion Future Fund is looking to add more money to its A$22.6 billion hedge fund program where it can find managers with spare capacity, to help protect the portfolio against a sell-off in the equity market.

APG China strategy: In-house with E Fund

APG's capacity to carry out its own research has meant it is ahead of the curve in allocation millions to its first local currency China fixed income strategy. APG is also setting itself up to be a catalyst for change and aims to set new standards on ESG in China.

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