This World Bank policy research paper examines the herding behaviour of pension funds, concluding that funds herd more in assets for which they have less market information and when risk increases. Moreover, herding is more prevalent across funds that narrowly compete with each other. (more…)
Khazanah Nasional Berhard, the investment holding arm of the Government of Malaysia, and Singapore’s Temasek Holdings have joined forces in their first joint development investment. (more…)
A new paper by State Street Associates looks at signals for determining emerging markets currency depreciation as part of an overarching theme that concentrates on the enhanced value of combining indicators of risk and behaviour. Amanda White spoke to one of the authors, David Turkington.
In an act of faith for the investment staff at CalSTRS, the board has approved that a further $15 billion in assets be managed in- house, including some strategies outside those first recommended by the investment staff. (more…)
High-profile Dutch pension funds and their service providers have come out in support of an agreement to radically reform the country’s pension system. (more…)
Without question my favourite car is a 1960 Mercedes Benz 190SL. Recently I was thinking that maybe my expectations from such a car are similar to the way institutional investors think about hedge funds. It’s certainly uncorrelated to my other car. (more…)