CalSTRS positions for the future with new investment team structure

CalSTRS, the $310 billion fund for California’s
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Inside the year-and-a-half-long review into ATP’s complicated portfolio

Inside the year-and-a-half-long review into ATP’s complicated portfolio

Danish pension giant Arbejdsmarkedets Tillægspension (ATP) has been urged to cull risk, establish formal portfolio benchmarks and reduce private markets exposures, according to an external review committee which handed down a 536-page report into the fund’s investment operations after an 18-month review. Following the release of the report by the board this week, co-author of the review Andrew Ang unpacks the findings with Top1000funds.com.

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London’s TfL takes ESG message to masses

The £11 billion TfL Pension Fund has released its first-ever annual sustainability report. The fund for public-sector transport workers hopes the report will help bring more members on board with its well-established ESG strategy and also make clear to its asset managers what it expects of them.

Coal bucks trend with focus on income

The £21 billion Coal Pension Trustees is targeting income and shoring up cash flows. CIO Mark Walker has a new bond portfolio in the works and is examining private debt and property closely. He’s also targeting onshore equities in China.

CERN risk appetite keeps assets liquid

The CHf4 billion CERN pension fund maintains a dynamic, tactical strategy that takes into account the market environment and the fund’s liabilities. Once risk levels are set, CIO Elena Manola-Bonthond tweaks and adjusts to stay on target, employing strict due diligence in areas such as private equity and hedge funds.

Austrian APK smells equity opportunities

Top-performing APK Pensionskasse is examining different regions and sectors, looking to increase its allocation to equity if markets decline in the second quarter. Chief executive Christian Boehm expects technological developments and geopolitical influences to affect markets, including in Europe’s financial sector.

Illinois looks inward for new portfolio

The $42 billion Illinois Municipal Retirement Fund is using its enhanced internal management capabilities to start a quantitative portfolio applying multifactor strategies. The strategy is designed to build some downside protection into the fund’s equities allocation.

PMT’s new index shakes up its equities

The €72 billion Dutch metal industry pension fund has developed its own benchmark that combines ESG, long-term returns and current beneficiaries’ sensibilities with its previous passive strategy. The index’s various criteria have screened out many companies PMT previously held and reduced its allocation to US equities.

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