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UK trustees should challenge advisors but government needs to lead change
UK trustees need to do more to hold advisors to account, says MNOPF trustee Rory Murphy who argues consolidation of the country’s pension assets and more investment in alternatives will require a transformation of how the entire sector is managed.
Milken Conference 2019 Photo Gallery
The Milken Institute Global Conference attracted more than 4,000 leaders from 60 countries to delve into the risks and opportunities in the global economy, addressing issues of gender equality, medical research, cybersecurity, tech regulation, and innovation. Here are some photos from the conference.
Time for institutional investors to confront income inequality
A new toolkit from The Investment Integration Project, with support from the Generation Foundation, applies principles of systems-level investing to show how investors can confront income inequality and take actions that enhance their current policies and practices. William Burckart and Michael Musuraca from TIIP explain.
KIC eyes pivot to total portfolio approach in latest review
The $206.5 billion Korea Investment Corporation has become the latest asset owner weighing a shift into the total portfolio approach in an attempt to boost investment returns. After putting out an RFP for a consulting partner in May, it will conduct a review into early next year about TPA’s feasibility.
New economy needs big public sector
Widgets are on the wane and disruption is the new normal, creating a need for a larger public sector with more market power, according to the former US Treasury Secretary, Larry Summers.
Railpen urges all investors to elevate cyber security
The growing threat of cyberattacks at portfolio companies – from the growth in AI, IT skill shortages and geopolitics – is viewed as a key risk at the £34 billion Railpen. The investor outlines how other asset owners and managers can engage on the issue.
CalSTRS factors in net zero implications
CalSTRS is putting in place building bricks to meet its 2050 net zero pledge in a process that underscores the complexity and size of the task in hand.
Dynamic hedging in incomplete markets: a simple solution
Despite much work on hedging in incomplete markets, the literature still lacks tractable dynamic hedges in plausible environments, in this article, Professor Suleyman Basak and Dr Georgy Chabakauri provide a simple solution to this problem.
Lagarde on the global economy
From productivity growth, the mystification of inflation, levels of debt, and problems of capitalism Christine Lagarde, president of the IMF, shared with delegates at the Milken Global Conference her concerns about the global economy.
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