The world needs to move back to a rules-based system of oversight over currencies and enhanced global surveillance of national macroeconomic policies, according to a leading Professor of Economics at the University of Oxford, UK.
Another big bank is set to hive off its funds management business to shore up its balance sheet, with this week’s announcement of the proposed divestments by ING Group.
China Investment Corporation has for the first time revealed its investment strategy. SONIA HAN reports that the Chinese sovereign wealth fund has accelerated its investment program in open-market products and industries such as mining, energy and real estate. The CIC is seeing value after the crisis but is also looking to limit portfolio risk.
The P8, a group of 12 of the world’s largest pension funds tasked with influencing policy makers on climate change, will meet in London next week for a two-day conference convened by its patron, Prince Charles, in the last meeting of the group before the Copenhagen conference of political leaders.
It may still be the right time to allocate to distressed real estate and debt-related strategies as deleveraging continues around the world and capital remains in short supply.
But a significant factor likely to impact on portfolios in the medium term, according to US asset consultancy Wurts & Associates, is inflation.
Keith Ambachtsheer, director of the Rotman International Centre for Pension Management (Rotman ICPM), believes increased scale expands the capabilities of pension funds, while also enhancing their operations and lowering costs. But their financial strength should not be allowed to compromise their core purpose. He shares his thoughts with Simon Mumme.