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OECD flags enduring obstacles to illiquid investment
A recent OECD report argues that pension funds have a vital role to play in helping finance the COVID recovery in areas like infrastructure and SME investment. Yet it also warns of pension funds’ limitations when it comes to investing in illiquid assets, and the risks.
Qsuper’s permanent revolution
The evolution of the $43 billion QSuper’s offer to all members is definitely not at an end. In fact, Rosemary Vilgan, chief executive of QSuper, sitting in the board room of QSuper’s on the top floor of its Brisbane office, archly states: “I keep saying to people you should not work here if you do
Serious investment implications from CalPERS lawsuit
The decision by California Attorney General, Edmund Brown, to charge former CalPERS board member and placement agent, Alfred Villalobos, his company ARVCO Capital, and former CalPERS chief executive, Federico Buenrostro, with fraud could have serious consequences for the future investment direction of the fund.
Detecting crowded trades in currency funds
This article by Momtchil Pojarliev and Richard Levich proposes a methodology to measure crowded trades and applies it to currency managers. According to the authors, this methodology offers useful insights regarding the popularity of certain trades among hedge funds and provides regulators with another tool for monitoring markets.
Inside Ontario Teachers’ – VFMC foray into Birmingham Airport
Leo de Bever, one of the key decision-makers in a co-investment deal to buy almost half of Birmingham International Airport and now CEO of AIMCo, tells Simon Mumme about the future scope and necessary resources, relationships and disciplines required for co-investment deals.
Scenario analysis: applicable to anything?
Attempts to apply a formula to asset allocation based on an asset’s historical volatility and relationship with other assets tend to fail when presented with black-swan events. Equities tend to rise along with commodities except when presented with political events such as the price hikes in oil in 1973 that sent equities into free fall.
Wake up to wasted capital, stranded assets
Sobering new figures in the latest report to highlight climate risk should resonate with trustees more than usual. According to the second study from Carbon Tracker and the Grantham Research Institute on Climate Change and the Environment, part of the London School of Economics Unburnable carbon 2013: Wasted capital and stranded assets, between 60 and
Money managers snooker consultants: Ennis
Reflecting on 40 years in the investment industry, founder of Ennis Knupp & Associates and executive editor of the FAJ, Richard Ennis, tells Amanda White why the investment consulting industry is at risk of becoming a distribution arm for the money management industry.
TRS strikes gold: Tiny allocation crushes its benchmark
This year, TRS doubled its tiny allocation to gold via a special fund that buys gold ETFs and mining companies. The strategy returned nearly 60 per cent, thanks to market conditions including inflation, geopolitics, government debt levels and de-dollarisation pushing gold higher.
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