Playing a game to learn what works
Chief investment officer of the Public Employees Retirement Association of New Mexico, Jon Grabel, discusses the camaraderie and insights his team gains from a virtual portfolio competition.
Time to make value judgements
Keith Ambachtsheer says net value added for members, not absolute cost, is the way to evaluate funds, and points to a report from Australia’s Productivity Commission as a sensible blueprint.
A leader inside and out
UniSuper CIO John Pearce has put together an internal team that consistently delivers top-ranked returns. Here, he discusses his investment philosophy and reveals a dominant theme for 2017.
Equity portfolios’ tell-tale turnover
Turnover in a portfolio reflects the extent of a manager’s long-term focus. A new report finds most equity managers replace their shares at a rate more than twice what’s thought of as ideal.
On the geopolitical horizon
It’s impossible for asset owners to predict the year’s geopolitical upsets. Diversification will be the key to a resilient portfolio.
We need to be better than ‘optimal’
An over-reliance on mean-variance optimisation has led to portfolios that fail to take into account the radical complexity of the real world and embrace ‘pretentious and unhelpful symbols’.
