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Research

Benchmarking infrastructure a step closer

The first valuation and risk measurement model created for unlisted infrastructure debt has been developed, with the release of a paper showing the valuation of illiquid infrastructure project debt, taking into account its illiquidity and the absence of market price feedback, can be done using advanced, state-of-the-art structural credit risk modelling. The paper by EDHEC-Risk […]
Amanda WhiteSeptember 5, 2014
Uncategorised posts

Long term investing and infrastructure

There has been some ambiguity about what being a long-term investor means. For Australia’s Future Fund it means focusing on a few key aspects of our investments: understanding value, the ability to make and implement portfolio decisions and manager alignment. In this speech at the ASFA Global Investment Forum on infrastructure and long-term investment, Raphael […]
Amanda WhiteJuly 30, 2014
Investor Profile

Australian fund leading the way on real assets

The $15 billion Australian super fund for hospitality workers, HOSTPLUS, has a 10 per cent allocation to infrastructure and is aggressively increasing its allocation to real assets. David Rowley spoke to chief investment officer, Sam Sicilia, about what the fund seeks from real assets.   A quarter of the $15 billion in assets held by […]
David RowleyFebruary 28, 2014
Investor Profile

Equities bias for Nottinghamshire local fund

An equities-biased strategy for the Nottinghamshire Local Government Pension Scheme is against the trend for funds in the UK, but the local government scheme has no plans to de-risk as it tries to make up its funding level.   The strategy of the £3.5 billion ($5.7 billion) Nottinghamshire Local Government Pension Scheme, one of the […]
Sarah RundellDecember 6, 2013
Investor Profile

Danish PFA mutes Euro pessimism

Danish pension investor PFA is continuing a switch out of European government bonds in favor of global equities, but has begun reinvesting in Europe’s southern periphery. DKK-350-billion ($63-billion) PFA announced a $900 million purchase of equities in April, commenting at the time that the crisis in Cyprus had increased the risk to its European bond […]
Dan BillinghamNovember 22, 2013
Research

Serious policy barriers limit long-term investment

The OECD annual survey of large pension funds and public pension reserve funds, reveals the “existence of serious barriers that need to be urgently addressed at policy level” to encourage long-term investment. The survey, which looks at 86 institutional investors from more than 35 countries accounting for $9.7 trillion in assets, as part of a […]
 November 8, 2013
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