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Stock / bond correlations top of mind for Wisconsin
The State of Wisconsin Investment Board is incorporating top-down macro analysis of the drivers of stock-bond correlations into its risk management, including to assess the potential of a secular shift in the stock-bond correlation.
The spectre of defined-benefit plans
The recent sharp growth in US corporate defined-benefit-plan liabilities, coupled with concerns that interest rates will start to rise from current historical lows, is slowing the push to de-risk plans, Wilshire Consulting’s head of investment research, Steven Foresti says. The latest Wilshire Consulting research into defined-benefit (DB) plans at S&P 500 companies reveals that aggregate
Steady defense turns the wheels at Vervoer
Patrick Groenendijk, chief investment officer of €14-billion ($18-billion) Dutch fund Pensioenfonds Vervoer, seems to be well aware of the value of stability to investors, having striven to find the fund’s ideal fiduciary manager, keep faith in a defensive investment strategy and stay at an arm’s length from government investment initiatives. The Vervoer fund has been
The oil spill from an investor’s perspective – not as bad
The BP oil spill in the Gulf of Mexico is not only the most devastating environmental disaster ever in the US, it raises issues around energy policies which continue to evolve. A client note from Russell Investments says energy stocks will continue to reflect the impact of the disaster and investors may well look at
Institutions look to hedge funds to meet portfolio expectations
“Do hedge funds make sense?” asks Jean-Marc Stenger, chief investment officer for alternative investments at Lyxor Asset Management speaking at the Fiduciary Investors Symposium at Oxford University’s Rhodes House. Hedge fund assets may have reached a record $3 trillion in 2014 but the decision by a number of high profile pension funds to drop hedge funds from
A new SAA at Connecticut allocates more to risk assets in manager shakeup
Since joining the Connecticut retirement plans as CIO just under two years ago, Ted Wright has developed a new strategic asset allocation that has bumped up the allocation to private assets. Top1000funds.com talks to him about risk budgets, a manager shakeup and diversity.
Japan’s trifecta of challenges
After 18 years working with Japan’s leading pension funds and asset managers Chris Battaglia, president of the Global Fiduciary Symposium in Japan, is well placed to observe the pressures on the country’s retirement system and observes its evolution.
Opportunities in Chinese healthcare
Sam Radwan, an expert in China’s healthcare sector, and co-founder of Enhance International a consultancy that advises Chinese insurers, discusses the driving forces behind the sector.
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