Investment theory: good ‘in theory’
Investors should not rely on investment theory because the complex and connected risks in the real world cannot fully be accounted for, says Tim Unger, of Willis Towers Watson.
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The future of pension management
Keith Ambachtsheer’s fourth book, to launch next month, tackles the persistent problems in pension governance, design and investment, including the sizeable aspiration/implementation gap.
Holding managers to account
CalPERS has integrated sustainability into its investment strategy and implementation, and uses asset class-specific criteria to assess managers on ESG.
The importance of investment beliefs
It’s often said that investment beliefs provide the solid frame on which investment strategy can hang. Some of these Magna Carta’s are beguilingly simple, like ‘Costs Matter’. Others may enshrine beliefs like ‘A Long Term Investors Has Opportunities and Responsibilities.’ So, it was with keen interest that delegates at PRI in Person 2015, the annual
CalPERS gives its managers ESG ultimatum
In what promises to be a transformational moment for ESG integration and investment manager accountability, CalPERS will require all of its managers to identify and articulate ESG in their investment processes. CalPERS staff led by Anne Simpson, senior portfolio manager and director of global governance, presented the ESG manager expectations, and draft sustainable investment guidelines,
Invert the business model to focus on members: Ambachtsheer
There is a lot more work to do in raising the quality of governance of pension boards around the world, Keith Ambachtsheer told a conference of Australian superannuation fund trustees and staff last week. “We have to stop thinking about organisational needs and think about member needs. The business model must invert from serving organisational
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