The $350 billion California Public Employees’ Retirement System’s new portfolio will look more like the current one than other options. The pick balanced portfolio risk with liability concerns.
Manager selection led to nearly three-quarters of outperformance for Texas Teachers in 2017 as the fund beat its benchmark by 168 basis points.
The California Public Employees’ Retirement System announces it won’t be introducing leverage, and gives some details on how it will choose a portfolio in December from the four it’s considering.
Alaska’s APFC faces an uncertain future as state lawmakers consider tapping into it to address budget shortfalls. The potential cash call makes fund CEO Angela Rodell’s job that much tougher.
Most of the outsourced CIO clients of Cambridge Associates have aggressive asset allocations, with a tilt towards alternatives and hedge funds. But do the high fees eat into the potential alpha?
Investors, including the $194 billion State Board of Administration of Florida (SBA), are using factor analysis to decompose returns, select active managers and negotiate fees.
BPP, manager for 10 pooled UK local government pensions, is focused on infrastructure assets, efficiency and engaged stewardship as it establishes the pillars of its strategy.
Norway is looking into whether GPFG, the world’s largest sovereign fund, should take on more diversifying assets and expand its tracking error. The fund’s ESG performance is also under review.
Nevada’s public pension plan only pays 11 bps in total costs due to 80 per cent of the fund being indexed. But CIO Steve Edmundson says low fees are a byproduct, not the reason for the strategy.
After 25 years as CIO of Idaho PERS, Robert Maynard, has seen it all. He’s convinced a simple, transparent and focused investment strategy prevails in all terrain.
The $12.5 billion School Employees Retirement System of Ohio decided realigning its portfolio was a better path to its goals than new asset allocation, CIO Farouki Majeed writes.
Since 2014, the Government Pension Investment Fund, the world’s largest investor, has shifted a chunk of its holdings, in domestic bonds to equities, and heightened its focus on stewardship.