The Florida State Board of Administration (SBA) is looking for managers to run up to $6 billion in mandates as it expands its allocations to alternative assets such as private equity, hedge funds, real estate, infrastructure and commodities.
What is the future of hedge funds at CalPERS?
A rigorous debate between staff, consultant and investment committee has resulted in the $224-billion CalPERS deciding to fund an allocation to hedge funds from its global equities allocation, using futures to neutralise the policy allocation, rather than have a separate strategic asset class. But the strategy is on watch, and will be reviewed mid-next year.
APG beefs up corporate governance policies
APG, one of the world’s largest institutional investors, has released a corporate governance policy in which it makes clear that the boards of companies must take sustainability, shareholder and stakeholder interests into account when making decisions.
Australian pension funds face greater governance and investment regulations
Australian pension funds will face a greater scrutiny of their corporate governance and risk management policies that will impact investment decisions in sweeping government changes released yesterday.
Derivatives supervision helps in fight for right to food
The International Organisation of Securities Commissions (IOSCO) released principles for regulation and supervision of commodity derivatives markets last week. Effective supervision of these markets is necessary to avoid even the prospect that derivatives contribute to speculative price bubbles in commodities, which can increase the number of people driven into hunger.
Sunsuper shifts equities focus to emerging markets
The $18.2 billion Australian superannuation fund, Sunsuper, is gradually lowering its exposure to domestic equities and moving into emerging markets. The fund’s chief investment officer, David Hartley, says the move is being driven by concerns about concentration in the local share market and the potential impact that proposed reforms to Australia’s pension industry – the world’s fourth biggest – could have on equity prices.
