AP7 prepares to re-tender and add mandates
Sweden's AP7 fund, which invests primarily in equities, is retendering mandates in its large ACWI exposure and hunting for new managers in its alpha allocation.
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Asset owners reflect on what to expect in 2022
Asset owners think in years rather than months, but investors expect a handful of key areas will define the year ahead. A clearer view on inflation; poor bond performance and a resurgence in labour rights to name a few.
HOOPP’s new focus: Climate change, inflation and innovation
In his first interview since becoming CIO, Michael Wissell tells Sarah Rundell about the plans for developing HOOPP's portfolio, which includes a focus on climate change, inflation and innovation while always keeping an eye on the total portfolio.
France’s FRR prepares to ramp up equity
The French SWF, FRR, is preparing to invest more in equities and illiquid assets as important reforms extend its time horizon. With the coronavirus crisis delaying the asset allocation decisions the fund is operating in an "intermediate context", slowly shifting out of bonds and into equities.
How to estimate the equity risk premium
Given the importance of equity risk premium, it is surprising how haphazard the estimation of equity risk premiums remains in practice. This paper by Aswath Damodaran at the New York University Stern School of Business examines a number of different approaches to determining the equity risk premium and why different approaches yield different values. It
Bank debt levels “outrageous”: Stanford professor
In 1840 equity funded more than 50 per cent of bank assets in the US, now it’s around 7 per cent. Banks would never lend to a business with no equity.
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