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Strategy and reporting under the microscope: Denmark’s ATP awaits review
Denmark’s ATP is awaiting a review that will report on the strength of its investment strategy, and suggest how to simplify reporting. But additional transparency must not hurt the future returns for members, warns Allan Japhetson, head of investment strategy at ATP.
New investment mix for Philips pension fund
The Dutch Philips pension fund has traditionally had a low risk profile, managing a separate liability-matching porfolio and a return-seeking portfolio. A new agreement with its members means it will rethink its investment strategy, with inflation-sensitivity one of the priorities. The €15 billion ($20 billion) Philips Dutch pension fund is set to go “back
Modern Portfolio Theory still holds up Harry Markowitz says so.
In an exclusive interview, Amanda White, editor of top1000funds.com, talks to the modern portfolio theorist about markets, portfolio rebalancing, Madoff and more.
NBIM approaches water with a filter
Water and how a company manages its exposure to this increasingly scarce resource is a key focus for Norway’s sovereign wealth fund in assessing the environmental and social performance of the more than 8000 companies in its portfolio. Anne Kvam, the head of Norges Bank Investment Management’s (NBIM) corporate governance team, says the sheer size
Quant models limber up for change
Active quant strategies came in for criticism after the global financial crisis, with a number of models seen as lacking both the appropriate diversification and the dynamism necessary to react to major market events. While acknowledging the need to rethink quant models, global head of active equities for developed markets at State Street Global Advisor
The power of technology: forward looking risk tools
The finance industry is slow in its willingness to innovate around technology, and is behind other industries says Jessica Donohue executive vice president, chief innovation officer and head of advisory and information solutions at State Street. And the cost of that inability, or stubbornness, around technology innovation is not inconsequential. State Street recently released its
CalPERS considers new asset class classification
CalPERS is considering doing away with traditional asset class classifications in favour of classifying assets according to fundamental characteristics in a bid to provide a better understanding of portfolio risks and performance drivers and so move to a more effective portfolio construction and risk management framework. Amanda White reports.
PFZW reformulates investment principles
PFZW, the €150 billion ($205 billion) Dutch pension fund for the health care industry, has created a new investment framework which is the result of an 18-month soul-searching journey under a project called “The White Sheet of Paper”. The framework will translate into policy and implementation steps starting from 2015. Jaap van Dam, PGGM´s chief
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