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The ingredients for success in private credit
Investing in private credit brings income and supports capital preservation, but as more investors enter the asset class, competition for assets is set to heat up. Investors from South Carolina Retirement Systems Investment Commission, Investment Management Corporation of Ontario and Ohio School Employees Retirement System explain their approaches.
Texas launches quarterly reports for flagship fund
The Teachers Retirement System of Texas (TRS) has outlined a set of five investment performance measurement priorities, which include a new detailed quarterly report for the internally actively managed $19.9 billion global best-ideas flagship fund, and incorporating external managers’ signals into the investment process to enhance performance.
SWFs could help global stability: forum
SWFs, as long-term investors, could play a countercyclical role in providing global financial and economic stability, the International Forum of Sovereign Wealth Funds concluded last week in Beijing.
Fiduciary duty in dysfunctional markets
Phil Edwards and Paul Woolley argue that if asset owners exhibit a more effective application of fiduciary duty to curb performance-chasing by verifying the implicit time horizon of the strategies adopted by the asset managers they employ, they could incentivise a shift towards longer horizons within financial markets with both private and social benefits.
Low vol strategies
can go global
S&P Dow Jones Indices’ researchers take a closer look at the long-term effectiveness of low volatility strategies in this paper. Aye Soe, S&P’s director of index research and design, analyses the low-volatility effect in the US equity market, with a focus on the common properties of various low-volatility strategies. Drawing from the extensive academic literature
Pension funds to talk climate change with the Prince
The P8, a group of 12 of the world’s largest pension funds tasked with influencing policy makers on climate change, will meet in London next week for a two-day conference convened by its patron, Prince Charles, in the last meeting of the group before the Copenhagen conference of political leaders.
Vale Sheikh Ahmed of ADIA
The managing director of the Abu Dhabi Investment Authority (ADIA), the world’s largest sovereign wealth fund, Sheikh Ahmed bin Zayed al Nehayan, died on March 26 in a glider accident in Morocco. His legacy to the investment management industry is a commitment to improved transparency, disclosure and cooperation.
New private equity head for New York Teachers
The New York State Teachers’ Retirement System has restructured its internal investment team creating a new role of head of private equity, to create five direct investment reports to the executive director, and has already made a number of additional investments in that asset class.
PSP expands total portfolio approach
In just 20 years the Canadian fund PSP Investments has grown from a standing start to more than C$200 billion. As it enters its next five year strategy, Amanda White spoke to CIO Eduard van Gelderen about the next phase of portfolio management and the development of its total portfolio approach including assessing and allocating investments on a sector basis.
Asset Allocation