The China Investment Corporation has recognised Hong Kong’s international position by establishing a wholly-owned subsidiary, Hong Kong-CIC International (Hong Kong) Co., Limited.
The 108 investment staff of the Teacher Retirement System of Texas (TRS) have had their performance incentive awards reinstated, and will receive $9.7 million between them, after a year which saw the fund outperform its benchmark by 240 basis points making it the best performing public pension fund in the US.
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The $38.5 billion Alaska Permanent Fund Corporation (APFC) has made further enhancements to its unique approach to investment decision making, clarifying procedures relating to risk guidelines in its investment policy.
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Global equity markets significantly underperformed emerging and frontier markets in 2010, evidenced by MSCI Indices end of year data, with some emerging markets returning as much as 50 per cent and some frontier markest returning 70 per cent for the year.
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The world’s largest investor, the ¥117,643 billion ($1.43 trillion) Government Pension Investment Fund of Japan (GPIF) has reduced its weighting to domestic bonds by more than 1 per cent, moving the money into short term assets.
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Gavin Cassar from The Wharton School at the University of Pennsylvania, and Joseph Gerakos at the Booth School of Business, University of Chicago, investigate the determinants and effectiveness of methods that hedge funds use to manage portfolio risk. They find that levered funds are more likely to use formal models to evaluate portfolio risk. (more…)