Sea change at Timor-Leste’s SWF manager
The manager of Timor-Leste’s $8.3 billion sovereign wealth fund, the Banking and Payments Authority (BPA), was inaugurated as the island nation’s central bank on Monday.
The manager of Timor-Leste’s $8.3 billion sovereign wealth fund, the Banking and Payments Authority (BPA), was inaugurated as the island nation’s central bank on Monday.
Whether it involves skill, good judgment or just plain luck, choosing the right manager is never an exact science but recently published research reveals institutional investors can make better decisions by avoiding conventional wisdom around past performance.
The recent alliance between Mercer Investment Consulting and Callan Associates to acquire the bulk of Evaluation Associates – the investment consulting arm of Milliman Inc – could be the start of a cooperation that targets other potentially attractive acquisitions in the US industry.
While US corporate pension funds enjoyed their best month this year, in September, they remain chronically under-funded, according to the latest figures from Mercer Investment Consulting.
Mercer Investment Consulting has produced its foreshadowed paper on global equities, which urges clients to have a major rethink about their benchmarks and portfolio construction. Greg Bright spoke with the paper’s main author, Nick White.
Institutional investors continued to suppress home country biases and globalise equity portfolios during 2009, a year in which risk appetite returned as equity markets rallied and short-dated credit strategies thrived, according to manager search data from Mercer Investment Consulting.
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