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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.
Campbell Harvey: cautiously optimistic
Campbell Harvey, Professor of Finance at Duke University, is optimistic there will be a vaccine developed in the fourth quarter of this year, a period where he also predicts a return to economic growth. However inflation is his biggest fear.
Different ways to navigate risk
Institutional investors are navigating the different risks that can impact their portfolios in different ways, explained chief risk offers speaking at the Fiduciary Investors Symposium in Cambridge. Arjen Pasma, chief risk officer at Dutch asset manager PGGM noted how risks span investment risk, counterparty risk, liquidity risk and ESG risk. Measuring ESG risk in the manager’s large allocation to private markets where each deal is scored on ESG and climate risk is particularly important, he said.
Sustainable investing
Bridgeewater’s Macro Approach to ESG Integration
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.
NY State Common’s climate plan
The New York State Common Decarbonization Advisory Panel, set up to advise the Comptroller, as trustee of the $209.1 billion New York State Common Retirement Fund, on how best to mitigate investment risks stemming from climate change and maximise opportunities from the new, low-carbon economy, has handed down its report this week. It has clear lessons for all asset owners.
Quality before quantity for AP1
In a world where it’s difficult to find asset managers that regularly beat the market, Swedish pension fund AP1 looks for managers by evaluating people, process and culture first. The head of external asset management, Majdi Chammas explains.
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.
Why slavery needs to be a priority
Chair of the Financial Sector Commission on Modern Slavery and Human Trafficking, PRI’s Fiona Reynolds explains how the financial sector is well positioned to identify, target and disrupt these crimes and their underlying causes.
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