CalPERS says no to adding leverage
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.
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Optimal long-term allocation with pension fund liabilities
The literature on how to optimally manage the investments of defined contribution funds is relatively scarce, despite the fact the growth in defined contribution continues to outpace defined benefit funds globally. Now new research from academics at the University of Lausanne demonstrates how to perform an ALM study from a financial prospective for defined contribution
CalPERS’ sustainability initiative drives investment beliefs
Launched this week, CalPERS’ Sustainable Investment Research Initiative (SIRI) will drive the development the $250-billion fund’s first set of investment beliefs. While difficult to believe a fund of its size, reach and history could invest without a set of investment beliefs, it is encouraging to see that sustainability will be a core part of that
UN fund increases indirect exposure
The $38 billion United Nations Joint Staff Pension Fund (UNJSPF) has begun to implement the recommendations of the Hewitt Ennis Knupp asset-liability study which, among other things, recommended higher allocations to indirect assets, emerging markets and private equity.
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