Global investors face the difficult task of setting asset allocation in an environment where the global macro-economic backdrop suggests chaos and downside risk but markets continue to perform strongly.
Global investors face the difficult task of setting asset allocation in an environment where the global macro-economic backdrop suggests chaos and downside risk but markets continue to perform strongly.
If managers want to reinforce their long-term investor bona fides they should adopt appropriate time horizons for investments they make, disclose more about asset holding duration, and reconsider paying themselves based on short-term results. Only then will the interests of asset owners and the managers they employ be truly aligned.
Evolving portfolio construction techniques that include more attention to liquidity management, diversification and resilience are needed in a macro environment that has more complexity and volatility delegates at the Fiduciary Investors Symposium at Stanford University heard. Investors from CalSTRS, CPP Investments and MFS share their approach.
Brexit holds profound implications for European pension funds, said Matti Leppälä, secretary-general and chief executive, PensionsEurope speaking at the Fiduciary Investors Symposium in Cambridge.
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