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Japan’s GPIF allocates to smart beta
The $1.3 trillion Government Pension Investment Fund of Japan will use factor investing, or smart beta, as a third way of implementing equity mandates, alongside active and passive, following a six-month research project conducted by MSCI that investigated how to best implement the growing interest in factor exposures. The research project conducted by MSCI
Pioneers of the Canadian model say its principles are under siege
A founding principle of the Canadian pension system is under attack. The Fiduciary Investors Symposium in Toronto heard from four individuals who have been instrumental in making the system what it is today, and that the sound principles that made the system great need to be defended.
CalSTRS positions for the future with new investment team structure
CalSTRS has restructured the investment team with an eye on its future growth and the best people to achieve its mission. This includes examining the complexity of the portfolio and the skills required to manage it effectively in the future. Amanda White spoke to deputy CIO, Scott Chan.
Alternative investment: Don’t forget the importance of lagged beta
In a recent webinar hosted by the Journal of Portfolio Management, Mark Anson, CIO and chief executive of the $28 billion Commonfund, reminded alternative investors of the importance of lagging beta, an essential consideration in portfolio construction and risk allocation.
CPP evolves total portfolio approach
Understanding the drivers of your portfolio risk and return, and then using that information to more dynamically adjust the portfolio, is one of the benefits of the total portfolio approach according to CPP’s Manroop Jhooty, whose total fund management team is exploring whether to include emerging factors in portfolio design.
Penny Green: London’s lady of the long term
When Penny Green joined the Superannuation Arrangements of the University of London (SAUL) as chief executive in 1998, the multi-employer defined benefit scheme had £790 million ($1.27 billion) assets under management and two asset managers. Sixteen years later the pooled fund now manages assets for 49 employers in higher education institutions including the University of
Brexit and institutional investors
What are the consequences of the Brexit vote for institutional investors with a long-term horizon? Less than what they might seem, says Stephen Kotkin. But upheaval may be likely all the same.
What is the minimum AUM for internal management?
Large funds outperform small funds mostly mainly due to the cost savings of internal management. So when does internal management make economic sense for a fund? It’s at a much lower AUM than you might think. CEM Benchmarking analysed a universe of 186 pension funds globally. That universe is split into four groupings: 77 funds
PSERS CIO drives diversification
James Grossman, chief investment officer of the Pennsylvania Public School Employees Retirement System, talks about driving diversification and the opportunities in corporate debt.
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