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Climate risk disclosure project goes global
An original Australian pilot project to benchmark asset owners on their management of climate change risk will be expanded globally later in the year.
Chinese firm’s advice: forget cap-weighted indexes
Pension funds need to look at building a “new beta system”, according to Dr Henry Zhao (pictured), moving away from traditional global indexes in general and cap-weighted indexes in particular.
The China Miracle 3.0
A gradual appreciation of the Chinese currency, although probably too gradual for some in the west, signals a far more fundamental evolutionary phase for this nation than currency management.
The Devil Wears UBS … revised edition
Style is not really the forté of the Swiss so it may come as no surprise that the London arm of Swiss investment bank UBS got itself into a pickle after it published a 44-page dress code for employees late last year.
CalPERS appoints first woman CEO
CalPERS, the US$182 billion Californian public pension fund, has promoted its CIO to the vacant role of CEO – Anne Stausboll becomes the first woman to run the fund in its 77-year history.
Holistic returns, not poker
Hermes chief executive tells fiduciary investors that success should include helping create a sustainable world; otherwise, they’d be better off investing people’s money in top poker players.
Tennessee plans asset allocation review
The Tennessee Consolidated Retirement System will conduct an asset allocation and portfolio implementation review, with an equities increase and reorganisation of the fixed income portfolio a likely outcome, as it investigates how to increase the returns of the fund at a strategic level.
Responsible AI: Railpen lays out the risks
Much is written extolling the investor opportunities inherent in AI at a time policy makers continue to prioritise deregulation and innovation over safety, but a new report from £34 billion Railpen on the risks AI holds for investors’ portfolio companies provides a valuable reality check.
Active management under pressure as US funds underperform
The alpha from active funds management was a massive -1.2 per cent before fees for US funds in 2008, a figure eight times below the average of 15 bps over 18 years, according to research by CEM Benchmarking.
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