Simple reblancing of portfolios back to strategic ranges after a market rise or fall is not as simple as you may think, according to a research note from brokers Morgan Stanley. The new investment required after a fall may be surprisingly large. (more…)
The $15 billion Thai Government Pension Fund is looking at a major asset allocation shift, having ridden out the financial crisis with a massive and fortuitous overweighting to bonds.
On the eve of an anticipated second round of quantitative easing – QE2 – a number of commentators, including GMO’s Jeremy Grantham, have criticised Fed’s policy as a large net negative to the production of a healthy, stable economy. (more…)
Everyone asks Scott Kalb, the chief investment officer for the $37 billion Korean Investment Corporation, how he got the job. Scott, as his name suggests, is not Korean. Well, it’s a long story.
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The Government of Singapore Investment Corporation (GIC) has made changes to its investment policy introducing a ‘facility for medium-term strategy with regard to asset allocation’, as its allocation to developed market equities increase from 28 to 41 per cent in the past financial year.
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The academic world has not really been attracted to the pension fund world as a field of study. Most academic research, by a wide margin, usually goes into the workings of the capital markets rather than the workings of the pension fund participants in those markets. (more…)