Modern portfolio theory drives Volkswagen Stiftung

The €2.3-billion ($3-billion) assets at the Volk
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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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USS takes advantage of dislocations

The largest single pension scheme in the United Kingdom, USS, took advantage of the dislocation due to COVID in 2020 and has bought credit assets and increased inflation and interest rate hedging.

Finance teaching not fit for purpose

Finance needs to be based on “real world economics” not the unrealistic and rational assumptions of traditional finance argue co-editors Herman Bril, Georg Kell and Andreas Rasche in their book Sustainable Investing: A path to a New Horizon.

Federal Retirement Thrift: Manager boost

Five years on from a board decision to increase manager diversity, Federal Retirement Thrift Investment Board, the Washington-based defined contribution plan for US federal civilian employees is finally poised to allocate a portion of its giant $640 billion assets to a new manager for the first time.

APG’s view on accelerated change

APG's CIO Peter Branner explains how the pandemic has accelerated key trends already underway around digitization, central bank policy and action to combat climate change. It all points to fierce competition for private assets.

OTPP: Prepare for tough times ahead

Canadian pension fund OTPP's chief economist forecasts tough times ahead: COVID spending has papered of the cracks of existing problems; it yields nothing but there are few alternatives to fixed income and inflation is on the way

USS: how to manage inflation risk

USS's head of dynamic asset allocation Bruno Serfaty reflects on the inflation risk coming down the track, and suggests ways investors can build alternative liability matching portfolios beyond government bonds.

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