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Total cost shakedown at CalPERS
Up to 8.9 basis points will be slashed from the total cost of managing the CalPERS’ investment portfolio in the next three years, under a new investment resource strategy which could also see internal administration costs increase by $6.5 million next year, and internal staff accountable for internal versus external management allocations. The internal investment
Australia’s Future Fund looks to tangibles
The A$72.9 billion ($78.9 billion) Australian Future Fund will ramp up its tangible asset investments this quarter to more than 14.5 per cent of the fund with a long-term goal of lifting that to 25 per cent, a spokesman said.
Aussie investors should get out more: Urwin
Australian institutions’ prevailing home-country equity bias was based on a series of lucky breaks for the domestic market and was not worth the concentration risks to which it exposed investors, said Roger Urwin, Towers Watson’s global head of investment content.
Private equity beta is lower than many think
Private equity investments are consistently beating the S&P 500 with beta that is “less than you think,” according to one of the world’s leading academics on private equity, Professor Steve Kaplan.
WSIB eschews administrivia for risk deep-dives
This summer the Washington State Investment Board will conduct two “deep dives” using its new risk tools to examine the portfolio exposure to US debt, and the impact of turmoil among the European Union. Executive director, Theresa Whitmarsh, discusses the board planning session, which will also include a review of the fund’s resource constraints.
Remaking markets one portfolio at a time
This week SASB and Bloomberg launched some new indexes – Bloomberg SASB ESG equity index for US large cap equity, and the Bloomberg SASB ESG fixed income index for investment-grade corporate bonds – to help investors track companies and create sustainable, long-term value in a way that supports their fiduciary responsibilities. Director of capital markets policy and outreach at SASB, Janine Guillot explains.
US ivy league endowments cling to returns … just
Endowments are back, just. The annual survey of their returns by NACUBO-Commonfund showed an average return of 11.9 per cent for the 850 college and university endowments in the study for the year to June 2010.
CIC weighs into alternatives
The China Investment Corporation deployed nearly 30 per cent of its cash, or $35.7 billion, in 2010, mostly into private equity, real estate, infrastructure and other direct investments with its alternatives allocation increasing from 6 to 21 per cent in the year.
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