Sitting on the steps of St Paul’s Cathedral, London, looking over the sea of tents “occupying” the forecourt, I wondered what 2011 would be remembered for. Certainly this movement is highlighting that the people on the street see a disconnect between the financial and real economies. But what are pension funds doing to take action? (more…)
In this challenging paper, Gordon Clark describes fiduciary duty as somewhat of a fantasy, because it looks to convention rather than forward to innovation in investment management. (more…)
Funds are expecting to push for a further consolidation in the number of equity managers they use but intend to add alternative asset managers, a new Callan Associates survey reveals. (more…)
Two of America’s largest pension funds, CalSTRS and CalPERS have warily offered support to the interjection of California Governor Edmund G Brown Jr into the debate on how to finance the state’s ballooning pension liabilities. (more…)
Australia’s sovereign wealth fund, the Future Fund, has lost more than $2 billion in the September quarter, as global share markets tumbled – despite reducing its equity exposure and moving more into defensive assets, such as cash. (more…)
It’s not until you’re on the ground that the basic growth story in China is really obvious. When Guy Russo, now head of Kmart in Australia, was the head of McDonald’s in China, they called it “opening a store every four hours”. (more…)