CalPERS has instigated an extensive review of its environmental, social and governance policies and practices and its move towards fuller integration of ESG factors into its investment decision-making which will include an overhaul of its procurement policies for external managers.
CalSTRS positions for global volatility with allocation changes
The volatility in global markets has prompted the $154 billion CalSTRS to an underweight global equities position, moving assets into cash, its chief investment officer, Chris Ailman, said.
China growth ‘unsustainable’ cautions expert
China experts are predicting the country’s growth will slow in the medium- to long-term as the government undertakes the difficult task of rebalancing the economy away from its dependence on investment and exports.
A fragile Eurozone in search of a better governance
This paper looks at the fragility of the governance in the Eurozone, and concludes that some of the features of the new financial assistance are likely to increase this fragility, and is likely to “rip” member-countries of their ability to use the automatic stabilisers during a recession.
Germans ‘deeply unhappy’ warns academic
The asset allocation of corporate pension plans should be driven by corporate finance not asset management according to Bernd Scherer, affiliate professor of finance at EDHEC Business School, and instructor of an upcoming seminar on portfolio construction and risk budgeting in Singapore.
Human gorillas chest-thump in US testosterone territory
There’s been a little bit of chest beating of the gorilla type in the US, on both the political and finance sides of the fence. I can’t help thinking the testosterone levels are getting a little out of control and some of the behaviour has been more about protecting territory rather than acting in the best interests of the electorate, clients, beneficiaries, or neighbours.
