Strathclyde cuts equity allocation
The UK’s largest public pension fund is de-risking its successful equities portfolio and looking to private debt, emerging-market debt, global credit and UK infrastructure to fill the void.
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Calif. fund seeks ‘safe’ returns
San Bernardino County Employees’ Retirement Association seeks value assets with income and a contract. These qualities help ensure a return, while increasing holdings in cash and alternatives.
M&S fund: a template for de-risking
Deficit and underfunding at the £6.7-billion ($10.4-billion) pension fund for employees of United Kingdom retailer Marks and Spencer had long weighed down one of the high street’s best known names. But a sustained, conservative investment strategy characterised by a “keen focus on risk management” and “an understanding of the scheme’s liabilities” has helped to turn
Mass PRIM: great returns, close trim
Michael Trotsky, executive director and chief investment officer of Mass PRIM managers is planning a raft of cost-saving measures from co-investment to more passive strategies and much harder fee
The complex puzzle of emerging markets
The emerging market story is a puzzle with many pieces. From an overall philosophical standpoint, the demographic and economic shifts are obvious reasons to have a weighting to emerging markets. But the complexity comes into play with the question of how to invest. Investors can consider private equity, property and other direct investments as a
Diversification key for pioneer of fiduciary management
For someone whose ideas have revolutionised the Dutch pension industry and carried significant international clout, Anton van Nunen strikes a humble tone. Widely credited with pioneering fiduciary management from its infancy, Van Nunen confesses with a chuckle that it is “quite a surprise” that the concept has grown to win over a significant proportion of
Asset Allocation