CalPERS and CalSTRS have collaborated to build a network of more than 150 individuals from a diverse pool of sources to act as potential candidates for nomination to corporate boards, as CalPERS’ consultant advises it to synchronise proxy votes between internal and external portfolios.
How investors can learn from Tiger Woods: the human foible of loss aversion
Investors can learn a thing or two from the human foibles displayed by Tiger Woods, according to new research by academics at the Wharton School of the University of Pennsylvania. The research refers, however, to his tendency to be too risk-averse when ahead for a putt, rather than his recently exposed sexual escapades. Woods and his fellow leading golfers in the world unnecessarily forego about one stroke per 72-hole tournament, which equates to a combined loss of $1.2 million in prize money for the top 20 golfers.
CalPERS’ infrastructure consultant cuts fees
CalPERS has appointed a lead infrastructure consultant from its list of four shortlisted candidates that included Meketa Investment Group, Pension Consulting Alliance, RV Kuhns and Wilshire, with the appointed consultant offering a reduced fee structure as part of its contract.
Alaska fills special opportunities bucket with real return mandates
The Alaska Permanent Fund will appoint four real return managers in March next year to manage a total of $2 billion in mandates that will have very few restrictions, and has shortlisted five managers to fill the brief, as part of its special opportunities bucket that makes up 21 per cent of the total fund.
Performance attribution using a decision hierarchy approach
The increasingly dynamic nature of asset allocation and the combination of internal and external management within pension funds requires a performance evaluation model for deeper insight of the organisation’s results.
Euro funds think global as risk appetite returns
Investment appetite among European institutions rebounded in 2009, with Mercer Investment Consulting identifying a surge in clients’ demands for new global fixed income, global equity and specialist credit exposures. Andy Barber, global head of manager research at Mercer, tells Simon Mumme about the investment themes driving these searches, and the evident decline of the ‘home country bias’ among UK institutions.
