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Federal Thrift integrates new ex-China index; inspires others
The $946.9 billion Federal Retirement Thrift Investment Board (FRTIB) has integrated a new index that excludes China and Hong Kong in its I Fund. The strategy has now inspired leaders of US state pensions to exclude China too.
Time to change the curriculum
Finance education needs to move away from neo-classical economics towards a more holistic approach including sustainability, philosophy and ethics. Robeco is actively engaging with leading universities in The Netherlands to change the curriculum.
Fight ‘halo effect’ and other biases
The halo effect – a belief that people who are good at one thing excel at everything – is just one example of the behavioural biases humans must manage and overcome to be good investors.
Investors’ role in a carbon-neutral 2050
Everyone’s talking about it – a carbon-neutral economy by 2050 – but what are investors doing about it? Amanda White reports on the specific climate activities of some of the world’s leading asset owners.
The importance of governance in a crisis
From December to mid-March of this year New Zealand Super lost 20 per cent of its assets. It’s the second time in less than 18 months the fund has experienced a significant drop in assets but in an example of how good governance and process can allow for counter cyclical behaviour the fund is now buying equities.
Ford Foundation’s impact strategy
The Ford Foundation outlines its ability to achieve impact and returns and announces plans to invest for impact in public markets in the next 18 months. Elsewhere, renown impact investor Pictet Asset Management explains how impact investment is becoming more mainstream.
A Framework for Examining Asset Allocation Alpha
Recognising that different asset allocation portfolios are suitable for investors with different needs, Jason Hsu and Omid Shakernia think it is probably too ambitious to establish a unifying structure for determining benchmark asset allocation portfolios. Instead, they propose a framework for thinking about asset allocation alpha, assuming that investors have suitably determined their asset allocation policy portfolio. And the framework is:
PE downturn offers chance for Ontario’s newcomer UPP to cosy up to new GPs
University Pension Plan Ontario is aggressively building out its 20 per cent allocation to private assets, taking advantage of many LPs finding themselves overweight illiquid investments to build new GP relationships.
Wurts polishes its silver
US consulting firm Wurts & Associates turns 25 this year, so Amanda White spoke to the founder, Bill Wurts, and managing director, Jeff MacLean, about the company’s transformation and the plans for the next quarter of a century.
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