The manager of Timor-Leste’s $8.3 billion sovereign wealth fund, the Banking and Payments Authority (BPA), was inaugurated as the island nation’s central bank on Monday.
Equity risk still dominates CalPERS portfolio
CalPERS’ 52 per cent asset allocation to global equities accounts for 69 per cent of its total risk allocation, according to the fund’s risk management update to the end of June.
Finnish pension fund manages market volatility
The $46.17-billion Finnish pension fund Varma has maintained positive returns for the first half of this year and maintained mandated solvency levels, despite facing a steep market downturn both at home and abroad.
ADIA positive on equities outlook
The world’s largest SWF, the Abu Dhabi Investment Authority (ADIA), added a number of new portfolios to equities and fixed income and reorganised its internal passive equities team in 2010, according to its second ever annual report, in which it also predicted a positive outlook for equities.
Is Bigger Better?
This updated version of the paper by the Rotman School, shows substantial positive scale economies in pension funds, with the largest plans outperforming smaller ones by 43-50 basis points per year. Between a third and one half of these gains arise from cost savings related to internal management, where costs are at least three times lower than under external management.
PRI signatories report improved ESG integration
Signatories to the UN-backed Principles for Responsible Investment (PRI) have improved the transparency of their reporting, ESG integration and active management, an annual survey reveals.
