The world’s largest institutional investor, the Â¥122,100 billion ($1.4 trillion) Government Pension Investment Fund of Japan (GPIF), has increased its allocation to domestic bonds and short-term assets at the expense of international bonds and domestic and international equities in the six months since the end of its fiscal year, a period which saw 12 managers terminated and 21 new managers appointed in a flurry of mandate activity.
The stockpicking view of Mark Tinker, global portfolio manager of Axa Framlington, has been greatly influenced by his career on the sell side of the investment management business. He spoke to Amanda White about a thematic approach to global equities and why, uniquely, two new themes have emerged in the wake of the financial crisis and why China fits into all 12 of them.
The $9 billion Mumtalakat, Bahrain’s sovereign wealth fund, is considering selling a stake in national carrier Gulf Air as it eyes more liquid investments.
Mubadala Development, the $14 billion strategic investment arm of the Abu Dhabi, has invited contractors to submit design and construction plans for a 65,000-seat sports stadium in the United Arab Emirates (UAE) capital.
According to academic research analysed by the Mercer Responsible Investment business unit in its latest report, there is a growing engagement by the investment community in responsible investment, just as the link between environmental, social and governance issues and performance proves to be a positive relationship. Amanda White spoke with Helga Birgden, head of responsible investment, Asia Pacific about the research, and the growing awareness by managers that ESG factors are a genuine source of alpha.
After missing the strong rally in the US high yield debt market, the $201.3 billion CalPERS’ global fixed income program, which manages about a quarter of the fund’s assets, has extended its mandates with external managers and will continue actively managing its US debt portfolio internally.