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Why Lothian is ready to lead on LGPS pooling – if it comes to Scotland
Scotland’s Lothian Pension Fund’s celebrated inhouse management affords active management at the price of passive and the ability to shape specific mandates with managers. It also positions the fund to lead on pooling – if pooling comes to Scotland’s LGPS funds.
Broker cutbacks boost small-cap opportunities
With the tightening of belts at big stock broking firms in the past couple of years, particularly the firms which are owned by banks, has come an increase in the opportunity set for buy-side researchers.
Human rights benchmark a catalyst
The Corporate Human Rights Benchmark aims to intensify the race to the top for companies in their efforts to drive abuses from the supply chain. A new report shows it’s working.
Future Fund chief departs, alternative weightings increase
Four years after becoming its first employee, Paul Costello will leave his role as general manager of Australia’s Future Fund, saying “new leadership” was appropriate now that the A$87 billion ($81.2 billion) vehicle was beyond its “startup phase.”
Timor’s SWF awards first external mandate, begins global equities search
The $4.7 billion Petroleum Fund of Timor-Leste has diversified its portfolio away from US Treasuries by appointing, for the first time, an external manager to invest $1 billion in high-grade, diversified fixed income, while undertaking a search for global equity managers.
New AA model prioritises liquidity
Singapore’s sovereign wealth fund GIC and PGIM, one of the world’s largest asset managers, have collaborated to develop a world-first asset allocation framework that explicitly models the impact of private assets on total portfolio liquidity, incorporating both the top-down allocation view and the bottom-up cash flow view.
US state funds all dire despite allocations: Wilshire
There is no connection between asset allocation and the funding level of US state retirement systems, according to Wilshire’s 16th annual survey of the funds, which reported a dire funding situation for 99 per cent of plans.
De-risking is de rigueur, survey finds
Investors are looking to continue to scale-back their exposure to US equities, increase their allocation to fixed-interest assets and strongly focus on the liability side of their balance sheets, a recent survey of funds in the US and Europe found.
Investors outline actions for resilience
Global economic activities will not be back to pre-COVID levels until 2022 according to CPP Investments’ outlook, with the giant Canadian investor expecting the situation to get worse before it gets better.
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