How a sovereign fund decided to take the road less travelled

New Zealand's sovereign wealth fund made a big bra
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ART property boss: Investors were wrong to think real estate was easy

ART property boss: Investors were wrong to think real estate was easy

Australian Retirement Trust real estate head Mark Lee says the COVID downturn exposed that treating real estate as an easy asset class was a crucial mistake from investors, and property is not just a “bond replacement with a slightly higher yield”. As the A$20 billion portfolio prepares to double in five years, Lee says future returns will depend increasingly on investors’ ability to “sweat the assets”.

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Rhode Island goes back to basics

The Employees Retirement System of Rhode Island is looking to cut management fees and slash hedge fund allocations over the next two years, on the heels of lagging returns.

How GPFG built its property portfolio

In the six years since Norway’s finance ministry approved the $871 billion Government Pension Fund Global invest in foreign real estate, its real estate arm has built a substantial portfolio.

Japan’s GPIF and the next 100 years

With a unique long-term horizon – 100 years – Japan’s GPIF takes a different view of investing but is pragmatic enough to see that not all investors need to behave the same way.

CalSTRS ponders EM coal divestment

CalSTRS focuses on fee reduction, using hedge funds for risk mitigation and ponders divestment from coal in emerging markets. Sarah Rundell interviews chief investment officer, Chris Ailman.

Continuity, despite change, for FRR

France’s €36.3 billion Fonds de Réserve pour les Retraites has a positive outlook for Europe and is prioritising “de-carbonisation” and active strategies to position the portfolio for new trends.

GMPF prioritises low costs in LGPS pool

The combination of 89 local government pension schemes, (LGPS), into a pool of funds means significant and large direct investment in the UK is possible when pension funds work collectively.

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