Oleg Ruban at MSCI finds that the stories behind yield rises in Japanese government bonds matter greatly. They influence the correlation between Japanese equities and government bonds, which is crucial in determining the size and direction of the impact of these scenarios on representative portfolios in different geographical segments and asset classes. Why does this … Read more
Few industries around the world could have more reason to bemoan their fortune in the recent past than the Irish construction sector, which recently recorded its first month of growth in over six years. The €1.2-billion ($1.6-billion) fund that invests construction workers’ pension savings on the Emerald Isle has jumped at the opportunities presented by … Read more
The following article is a letter from United Food and Commercial Workers’ John Marshall in response to our recent article, Walmart takes divestment blows to the body. I read with interest the excellent article on the Swedish AP funds’ recent divestment from Walmart based on concerns about the company’s systematic abuses of workers’ rights in the … Read more
The $38-billion Fourth Swedish National Pension Fund, AP4, one of a group of five state-owned pension funds, plans to invest in a tailored emerging markets fund comprising companies that have both low-carbon emissions and low fossil-fuel reserves. AP4, which returned over 6 per cent in the first six months of 2013 buoyed by domestic and … Read more
When Eugene Fama enrolled at Chicago Booth School of Business in 1960, “finance was a joke”, he says in a candid and fascinating insight into his more than 50 years as a student, academic and teacher at the university. The essay, published by Chicago Booth’s Capital Ideas, details Fama’s own history but also a short … Read more
Two more high profile investors have punished US retailer Walmart for its anti-union stance and poor labour practices by divesting their holdings in the company. AP Funds, Sweden’s cluster of state pension funds named AP1 through to AP4 and AP6 (there is no AP5) worth a combined $140 billion, sold its equity and corporate bond … Read more
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