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.
A 22-year love affair transforms KIC
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.
GIC adopts dynamic asset allocation
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.
Five big issues for all pension funds
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.
Hedging pays off for Future Fund
The Australian Future Fund’s policy of hedging its foreign currency exposures so that 80 per cent of the portfolio is held in Australian dollars has resulted in large inflows due to the AUD’s recent appreciation. 
Skewed risk for CalPERS’ absolute return portfolio
The underperformance of the CalPERS’ risk-managed absolute return strategy indicates the portfolio may be too heavily weighted towards macro, currency, commodity or directional risk than the investment committee originally set out to achieve, according to a review by Wilshire.
