Bonds

Asset Allocation

The problem with UK government pressure on pension funds to diversify

UK politicians are urging the country's pension funds to invest less in Gilts and more in riskier and complex assets including young UK companies, and infrastructure. Railpen's John Greaves, head of investment strategy and research explains the various problems with the plan.

Sarah RundellMay 29, 2023

Investor Profile

France’s FRR on policy environment, deglobalization and the bad ESG premium

Executive director of France’s SWF, Olivier Rousseau, a long-time critic of grindingly low bond yields which he has called a "tragedy" for pension funds, can’t hide his enthusiasm for today’s environment of higher interest rates and fiscal tightening after a decade of financial repression.

Sarah RundellApril 27, 2023

Investor Profile

HOOPP eyes bonds as source of incredible return once again

Given current levels in real interest rates, real return bonds (namely Canadian government bonds and US Tips) represent an 'incredible' return compared to the underlying risk, Canada's HOOPP plans to build on its exposure.

Sarah RundellMarch 23, 2023

Investor Profile

Switzerland’s Publica hit by equity, fixed income correlation

Hit by last year's unusual correlation between equities and bonds, and in a bid to avoid higher long-term inflation, Switzerland's €45.6 billion Publica kick-starts a new strategic asset allocation that will reduce the bond allocation and result in a search for new managers.

Sarah RundellJanuary 24, 2023

Asset Allocation

USS: Low leverage and US exposure helped navigate UK bond market turmoil

Speaking at USS’s 2022 Institutions’ Meeting, Simon Pilcher told stakeholders that the asset manager had navigated market turmoil in the UK bond market by having less leverage than peer funds and diversification, explaining USS also hedges inflation and interest rate risk with US bonds.

Sarah RundellDecember 21, 2022

Asset Classes

Positive stock and bond correlation will make portfolios more volatile

Today's positive stock-bond correlation means balanced portfolios will be more volatile without the natural hedge that bonds have long provided to stocks.

Ben HurleyDecember 20, 2022

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Asset Allocation

The problem with UK government pressure on pension funds to diversify

Investor Profile

France’s FRR on policy environment, deglobalization and the bad ESG premium

Investor Profile

HOOPP eyes bonds as source of incredible return once again

Investor Profile

Switzerland’s Publica hit by equity, fixed income correlation

Asset Allocation

USS: Low leverage and US exposure helped navigate UK bond market turmoil

Asset Classes

Positive stock and bond correlation will make portfolios more volatile

ABP/APG Asset Management

California State Teachers Retirement System (CalSTRS)

PGGM / PFZW

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