Next week conexust1f.flywheelstaging.com takes you inside the decision-making processes of one of the Middle East’s biggest funds with an exclusive interview with the chief investment officer of the Abu Dhabi Retirement Pensions and Benefits Fund.
Investor Profile
NZ Super cuts benchmark return expectation on US valuation concerns
A view that the US stock market is overvalued and equity risk premia will be lower over the long term has driven New Zealand Super to lower the return expectations for its reference portfolio following its recent five-yearly review of the benchmark. Co-chief investment officer Brad Dunstan also flags underweight commodity exposure as an area to address and explains why the fund remains sceptical of illiquidity premia despite seeing a growing case for private markets.
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NY Common makes further divestments, ups commitment to climate solutions
The $260 billion New York State Common Retirement Fund will divest and restrict approximately $26.8 million of corporate bonds and actively traded public equities in eight integrated oil and gas companies, including ExxonMobil; and is doubling its commitment to the Sustainable Investments and Climate Solutions program.
Korea Investment Corporation focuses on alternatives push
KIC is looking to boost its alternatives allocation - particularly private credit - both directly and through managers. Influenced by what it sees as an unfolding AI-led industrial revolution it is looking for opportunities in fast-developing sectors including AI, semiconductors and healthcare, and has opened an office in Mumbai.
CalSTRS’ Ailman talks GFC, climate risk and worrying levels of US debt
After 23 years in charge, CalSTRS departing CIO Chris Ailman has more stories from the investment frontline than most. He shares personal recollections of the GFC, his fears of the scale of the climate emergency and why worrying levels of US debt hold new risk and opportunity for investors.
Brunel keeps wary eye on markets and raises manager reporting duties
In a recently published review, Brunel Pension Partnership vows to “turn the screws” on managers and its holdings via increased RI expectations and warns that rosier economic forecasts of lower interest rates and tamed inflation may not come true.
PGGM revamps fixed income; focuses on liquidity
PGGM's Wilfried Bolt explains how the end of quantitative easing (QE) has changed the asset manager's hedging strategy and prompted a keen focus on liquidity. He also explains the rationale behind managing more of the corporate bond allocation in house.
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