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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Switzerland’s Publica hit by equity, fixed income correlation
Hit by last year's unusual correlation between equities and bonds, and in a bid to avoid higher long-term inflation, Switzerland's €45.6 billion Publica kick-starts a new strategic asset allocation that will reduce the bond allocation and result in a search for new managers.
NYCRS readies to allocate more to private markets
Since joining $233.5 billion New York City Retirement Systems (NYCRS) six months ago, CIO and Deputy Comptroller for Asset Management Steven Meier has spent the bulk of his time getting under the hood of the private markets allocation, engaging with business partners and meeting some of the best minds in the industry to discuss the
Wellcome Trust: Hedge funds, property and low allocation to equity delivers
Allocations to property, some hedge funds and holding most of its assets in currencies other than sterling, helped Wellcome Trust withstand the impact of last year's simultaneous decline in prices in equities, government bonds and corporate credit on a scale not seen for many years.
After the horror of 2022, UTIMCO says asset classes set to do well
It’s possible that a traditional 60:40 passive portfolio could get close to a target return of 7-8 per cent this year in a trajectory not seen for the last 12 years, according to Rich Hall, CIO of $65 billion University of Texas endowment.
Active, in-house and sustainability: The driving factors at AP3
AP3’s ability to actively benefit from volatile markets is rooted in a reform process undertaken by CIO Pablo Bernengo, replacing decade-old, separate alpha and beta allocations with a traditional asset class structures but avoiding silos. Active risk and sustainability go hand in hand, he says, and is a 2023 focus.
Investment industry needs to rethink strategy: Future Fund CEO
Persistently challenging market conditions driven by stagflation, uncertainty and volatility, the response to climate change and populism increasingly shaping government decisions, mean 60:40 needs a re-think according to Raphael Arndt, chief executive of the A$240 billion Future Fund.
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