The governance-performance link
Academics at Switzerland’s University of St. Gallen find that governance is positively related to both excess and risk-adjusted net returns but only marginally related to funds’ asset choices.
GPIF, ADIA: complex success
Japan’s GPIF has only recently moved into equities, while ADIA has a rich history of investing in a variety of asset classes. The returns of both giants show the benefits of diversification.
Fund braces for geopolitical risk
SEB has restructured its risk factor portfolio and raised the allocation to senior secure loans within its large alternatives portfolio. The changes address rising global uncertainty.
Calif. fund seeks ‘safe’ returns
San Bernardino County Employees’ Retirement Association seeks value assets with income and a contract. These qualities help ensure a return, while increasing holdings in cash and alternatives.
Satyajit Das: access real income
Author Satyajit Das, who warned about derivatives before the GFC, says debt levels have turned the whole world into a carry trade and managers need to get close to real income streams.
Eight paths to long-term premia
When the Thinking Ahead Group looked into whether investors could be reasonably certain of a long-horizon premium, they found builders of value and savings whose costs are worth it.
