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Harvard favours emerging markets and absolute returns over fixed income
Harvard Management Company (HMC), which manages the $32 billion Harvard endowment, has made significant alterations to its policy portfolio, including increasing allocations to emerging market equities and the externally-managed absolute returns program, while slashing fixed income allocations.
AustralianSuper contemplates foreign outposts
Australia’s largest superannuation fund, AustralianSuper, is considering whether it should have its own investment management and currency hedging teams based in Europe and America. Due to the mandatory nature of the system in Australia, the current rate of funds under management growth means assets are doubling every four to five years. Peter Curtis, head of
Chaos at AIMCo as politicians take control
In a dramatic purge the government in Alberta, Canada’ has removed the entire board of the $160 billion AIMCo and sacked its CEO. Is this a sign of politicisation of a pension sector renowned for its stable governance?
‘Golden age of private credit’ comes with idiosyncratic risks: Pictet
Pictet private debt head Andreas Klein says “mainstream” private credit investments have run their course as buyout activity decreases and global regulators up their oversight. Instead, investors should consider “micro-niches”, but he warns these emerging corners of the market come with hidden and unique risks.
Funds build resilience with private assets while managing liquidity risks
Global pension funds are increasingly looking to private assets to build resilience, stress testing various scenarios to manage the liquidity risks that come with increasing private market allocations.
Is the financial services sector serving the public interest?
Fiduciary law, which creates the boundaries and rules for asset owners managing other people’s money, is evolving. The short-termism, misaligned incentives and complex and over-supply of services that characterises financial services, is under fire. Regulators around the world are increasingly looking at how to change the behaviour and supply chain dynamics in the industry, and
Understanding the cost of investment management
Across the institutional investment community, disclosure and transparency of costs continues to be evolving, but not fast enough. A paper by Commonfund Institute reveals only 18 per cent of respondents in an endowment survey reported incentive and performance fees paid to asset managers despite the fact that nearly 85 per cent of respondents reported having
Bloomberg embraces diversity
Head of diversity and inclusion at Bloomberg stresses the benefits of a diverse workforce and says asset owners can highlight areas for improvement in this regard.
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