Stephen Gilmore says he can add 50 to 60 basis points to portfolio returns by using a total portfolio approach. In a long interview, Amanda White spoke to the CIO of CalPERS about why a TPA mindset can add value, simplify accountability and open new opportunities for investments.
CalPERS' Peter Cashion tells Top1000funds.com how the pension fund's strategy to allocate to climate mitigation, transition and adaptation strategies is allowing it to access an untapped corner of the US market where many investors have retreated because of the policy environment.
At the annual review of its fixed income portfolio, CalPERS staff explain how active management, value-add strategies and the hunt for alpha are paying off, with ESG integration giving it a valuable edge and informing it to invest in companies under pressure like Boeing at the right time.
If CalPERS had put more money into the Silicon Valley companies in its own backyard earlier it might be fully funded by now, jokes its sustainable investment head. But it won’t miss the same opportunities in climate investing.
Investors are grappling with a multi-regime change that is manifesting in trade and geopolitical upheaval and a rise in real interest rates. But at a recent meeting, the CalPERS board heard that US equities remain top performers and the dollar, though weaker, is still historically strong and wil remain so.
Stronger liquidity management through a total portfolio approach (TPA) can do more than manage real-time risk exposures – it can also help generate alpha, according to panellists at the Fiduciary Investors Symposium at Harvard University.
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