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CIC expands global reach
The Chinese Investment Corporation will hire a throng of investment professionals to join its nearly 200-member global investment team, following the second meeting of its international advisory council in Shanghai this month.
CalSTRS positions for global volatility with allocation changes
The volatility in global markets has prompted the $154 billion CalSTRS to an underweight global equities position, moving assets into cash, its chief investment officer, Chris Ailman, said.
Past volatility making way for future steady yields
The role of emerging markets debt is evolving from a return-enhancer to providing some buffer against volatile markets. Emerging markets debt has been one of the best performing asset classes in the last decade but experts say those spectacular returns may be a thing of the past. There are signs emerging markets debt is becoming
Using a ‘foreign language shield’ to improve investment decision making
Introducing a “foreign language shield” into a decision-making process is a proven way of making better decisions, according to Cass Sunstein, the Robert Walmsey University Professor at Harvard Law School. Sunstein, a former administrator of the White House Office of Information and Regulatory Affairs (OIRA), told the Fiduciary Investors Symposium (FIS) at Harvard University that
Parsimonious asset allocation
Editor of the Financial Analysts Journal and chair of Ennis Knupp & Associates, Richard Ennis, believes contemporary asset allocation schemes are becoming unwieldy for many decision makers because of the proliferation and splintering of investment categories, and advocates an approach that relies more on empirical evidence than on assumptions or intuition.
In defence of optimisation
Sebastien Page, senior managing director of the portfolio and risk management group at State Street Associates is excited about his upcoming paper “In Defense of Optimization: The Fallacy of 1/N”, which responds to the increasingly popular notion that equal weighted portfolios outperform. He spoke with Amanda White about the “1/N paper”, and how he advises
ABP to submit recovery plan as coverage ratio falls 50%
ABP, the world’s third largest pension fund, faces serious underfunding as a result of the financial crisis and will have to submit a recovery plan to De Nederlandsche Bank by March 31.
Beware the health of your managers
Funds management is largely a fixed-cost business and with assets declining sharply due to both markets and redemptions, many managers are under financial pressure. Investors beware.
UN pension fund flags climate risk on ALM and performance
In a nod to headwinds including climate change, evolving demographics, and the future economic outlook the $85.5 billion United Nations Joint Staff Pension Fund will use a slightly lower real rate of return to inform its upcoming actuarial valuation with the 2023 ALM scenario planning focusing on climate risk.
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