Featured Homepage Articles #2

Never underestimate quality

USS's COO Howard Brindle is one of the most experienced investment operations executives in the pension industry, he talks about business transformation and the importance of talent.
INSIDER

The changing nature of fixed income

As the fixed income asset class undergoes rapid change and the opportunity set expands, unconstrained bond funds have become popular. But as this article examines, with that expanded opportunity set comes new considerations including a wider risk/return spectrum among managers.   Trends in the global investment universe tend to come around every six months or... Read more »
OPINION

Regaining control: why investors must stand up to banks

As the chief executive of a financial services media and events business, Colin Tate* benefits from the growth in the banking sector. But at the same time he is perplexed by their bad corporate behaviour, large pay packets, and secret negotiations. It’s time, he says, for institutional investors to demand change.   I’m not a... Read more »
ANALYSIS

African countries come to the sovereign wealth fund party

Many of the countries with the largest oil reserves also boast the largest sovereign wealth funds (SWFs). And yet African producers, like newcomer Ghana, Angola, and Nigeria which has been pumping oil since the 1950s, haven’t saved much of their oil revenue. Now, in an effort to replicate the long-term growth of funds like Norway’s... Read more »
EMERGING MARKETS

Beyond benchmarks at PFA and NZSuper

Emerging markets debt is typically seen as an asset class in which investors can gain alpha through using active and usually external managers that charge for their niche access to segments of the market and on-the-ground local expertise. However, two large institutional investors – Danish pension fund PFA and New Zealand Superannuation Fund – are... Read more »
EMERGING MARKETS

The rise of emerging markets-debt indexes

In the 1990s emerging markets-debt indexes were limited to external US-dollar-denominated sovereign debt but as interest in the asset class has increased so has the breadth and depth of available indexes. The JP Morgan family of emerging market-bond indexes contains some of the most widely used by investors. In the 2000s JP Morgan expanded its... Read more »
EMERGING MARKETS

AP2 extends metrics to emerging markets debt

Swedish buffer fund AP2 is investigating a move from traditional market cap-weighted benchmarks for its fixed-income portfolio to using other metrics, such as fiscal sustainability or GDP weights, the fund’s chief investment strategist Tomas Franzen says. The 216.6-billion Swedish krona ($30.9 billion) fund has more than 36 per cent of its portfolio in investment-grade fixed... Read more »
IN CONVERSATION

Outliers outdo averages in hedge funds

Hedge fund investors should focus on a few exceptional managers and keep allocations to just 1 or 2 per cent of a diversified portfolio, according to the former head of JP Morgan’s hedge fund seeding operations, Simon Lack.
INSIDER

Investors suffer as Asian hedge funds ossify

As institutions take over from high-net-worth individuals and family offices as the main investors in hedge funds around the world, those hedge fund managers, too, are becoming institutionalised. This is not always a good thing for investors.
NEWS

Washington State prioritises excellence

The $70.5 billion Washington State Investment Board has prioritised hiring the best managers in public equities and is willing to sacrifice the number of active investment relationships in lieu of the managers it believes are “truly exceptional” as it enters 2010 with plans for global manager searches.