GPIF fee structure aligns interests

The world’s largest investor restructured how it pays its active mandates to get more certainty from managers. Its actions, which were taken after self-reflection, will affect the entire sector.
Asset Classes

GPIF seeks better beta through ESG

You can't beat the market if you are the market. That's reality for Japan's behemoth pension fund; therefore, it looks to improve overall returns by engaging and investing with an ESG focus.
Asset Allocation

A strategy to believe in

Nevada’s public pension plan only pays 11 bps in total costs due to 80 per cent of the fund being indexed. But CIO Steve Edmundson says low fees are a byproduct, not the reason for the strategy.
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Passive managers, active ownership

Passive managers have greatly increased their market share. It’s more important than ever that they show best practice in active ownership by engaging on ESG issues and focusing on the long term.

UK watchdog set to back pension mergers

The UK Financial Conduct Authority’s upcoming report is expected to call for consolidation in pension funds, tighter controls on active management fees and greater transparency.
From the CIO’s chair

Active? Only when necessary

High management margins and low returns will continue to push owners towards passive investments. But active managers can add value in asset classes that require special expertise or access.
Asset Classes

Minnesota’s push into passive

A disillusionment with active has led Minnesota to double its passive allocation in public equities, a strategy that sits alongside a commitment to long-term investing in private markets.

Investors from the moon: Fama

A highlight of the Fiduciary Investors Symposium at Chicago Booth School of Business was an intimate Q&A session with the “Father of Modern Finance” and Nobel Laureate, Eugene F. Fama.

Dry up: how investors assess water risks

The world is running short of water, but what does that mean for investors? Asset owners in the Netherlands and Norway assess and manage the water-related risks in their portfolios, including the measurement of portfolio companies’ water dependence and water security. The drought hitting South Africa’s North West Province sounds another warning shot around the... Read more »

NEST believes in passive management

A preference for passive management underpins the investment beliefs of the new UK defined contribution fund, NEST, which has finally outlined its investment approach.