fixed income

Investor Profile

Previ: How high interest rates put profitability before diversification

Brazil's high interest rates mean the nation's oldest pension fund, Previ, has put profitability before diversification for years. CIO Claudio Goncalves is determined to change that, and is about to green light new allocations to US equity.

Sarah RundellMay 1, 2025

FIS Toronto 2024

Stock-bond correlation ‘shock’ prompts portfolio rethink

For the past two years the correlation between bonds and equities has been positive, counter to the long-term assumed relationship between the asset classes. The challenges for asset owners include determining whether the change is transient or long-term, and what it means for portfolio construction either way.

Simon HoyleJune 3, 2024

Investor Profile

PGGM revamps fixed income; focuses on liquidity

PGGM's Wilfried Bolt explains how the end of quantitative easing (QE) has changed the asset manager's hedging strategy and prompted a keen focus on liquidity. He also explains the rationale behind managing more of the corporate bond allocation in house.

Sarah RundellFebruary 8, 2024

Featured Story

What Dutch pension fund reform means for fixed income and risk allocations

As the Netherlands’ overhaul of its €1.45 trillion ($1.6 trillion) pension sector gathers pace, funds are preparing to change their asset mix and hedging policies.

Sarah RundellFebruary 1, 2024

Asset Allocation

Penn PSERS trims leverage, adds fixed income and hones in on fees

The $71.9 billion Pennsylvania Public School Employees' Retirement System has reduced net leverage, added fixed income and continues to shave costs off its external investment management fees, mostly by reducing private allocations. The trimming and shifting of the portfolio is part of an adjusted SAA responding to ongoing market changes.

Sarah RundellSeptember 12, 2023

Credit

MN: A new private debt allocation that integrates ESG

Fixed income at fiduciary manager MN will now include private debt. Markus Schaen explains the challenges of building out the portfolio alongside MN's client funds' strict ESG priorities. He also explains how for some ESG-conscious investors ESG integration and impact is more important than outperformance.

Sarah RundellAugust 22, 2023

Investor Profile

Previ: How high interest rates put profitability before diversification

FIS Toronto 2024

Stock-bond correlation ‘shock’ prompts portfolio rethink

Investor Profile

PGGM revamps fixed income; focuses on liquidity

Featured Story

What Dutch pension fund reform means for fixed income and risk allocations

Asset Allocation

Penn PSERS trims leverage, adds fixed income and hones in on fees

Credit

MN: A new private debt allocation that integrates ESG

California Public Employees Retirement System (CalPERS)

ABP/APG Asset Management

California State Teachers Retirement System (CalSTRS)

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