In this opinion piece Edward Ladd, chairman emeritus of Standish Mellon, looks at real effects of the shift in debt from the private to public sectors, with particular emphasis on the implications the situation in the US may have on global markets.
The $48.4 billion OMERS, which plans to have 90 per cent of assets directly managed by 2012, increased its investment management expenses in 2009 by 8 per cent, a figure it claims is offset by lower investment operating and third-party manager expenses.
The Tennessee Consolidated Retirement System will conduct an asset allocation and portfolio implementation review, with an equities increase and reorganisation of the fixed income portfolio a likely outcome, as it investigates how to increase the returns of the fund at a strategic level.
CalPERS has conducted its first-ever annual review of the inflation-linked asset class (ILAC) program and has made a number of changes including moving the responsibility of the asset class to real estate. Amanda White looks at the fund’s plans for ILAC in the coming year.
The managing director of the Abu Dhabi Investment Authority (ADIA), the world’s largest sovereign wealth fund, Sheikh Ahmed bin Zayed al Nehayan, died on March 26 in a glider accident in Morocco. His legacy to the investment management industry is a commitment to improved transparency, disclosure and cooperation.
China is the world’s biggest new frontier since wild-west America in the mid 19th century. For instance, it controls four of the top 10 sovereign wealth funds by size, as just one of many examples of its nascent power. And China is changing, becoming much more of a global corporate citizen and less of the world’s factory. Or at least it’s trying to. Exemplifying this change is the evolution of one of China’s sovereign funds, the National Social Security Fund, which turns 10 years old this year. Greg Bright puts the fund into perspective.