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Assessing reality in US public funds

Distinct regulation of United States public pension funds that links the liability discount rate to expected return on assets, rather than to the riskiness of their promised benefits, sets them apart – in a bad way. US public funds have underperformed other pension fund cohorts because of higher allocations to risky assets. Arguably, regulation is […]
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US public pension funds underperform

US public-pension funds significantly underperform their global peers in real-estate portfolios due to a propensity to manage the assets externally, according to a new ICPM-sponsored research paper by three Maastricht University academics. Value added from funds management in private markets: an examination of pension fund investments in real estate looks at real-estate investing among the […]
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Property survey highlights green stars

The Global Real Estate Sustainability Benchmark (GRESB) is being actively used by its investor supporters, including PGGM, to make service providers accountable for ESG performance, with the second annual survey finding a larger proportion of managers in the top quadrant this year.