CalPERS’ board has named Meketa its new infrastructure consultant, citing its high ratings and setting aside investment office calls to have a single adviser for infrastructure and real estate.
CalPERS is happy with its consultants, except for their performance in recommending ways to control fees and costs and their presentation of new investment ideas, a board rating reveals.
The board of the United States’ largest pension fund calls in the experts as it considers applying leverage in its portfolio, part of efforts to improve a 68 per cent liability-funding ratio.
We can debate the certainty of risks and returns, but maintaining that investment in tobacco is in the best interests of ordinary workers is clearly becoming an increasingly difficult position.
The concept of investment beliefs is the basis for strategic management and, while widely used in other parts of the world, is “innovative” from a US perspective, Allan Emkin, managing director of Pension Consulting Alliance, says. In a session at the Risk Summit, convened by World Pension Forum and Conexus Financial, publisher of www.top1000funds.com, Emkin... Read more »
CalSTRS will employ a new way of evaluating portfolio risk which overlays risk across asset classes, rather than replacing asset classes with risk categories, and introduces six broad risk factors.
CalPERS will separate its real estate assets into legacy and new portfolios, as part of a new strategic plan for the asset class that more accurately reflects its evolved role as a result of the fund’s recent asset liability study.
CalSTRS will explore the potential of risk-oriented strategic allocation management and wider asset class ranges, as it sets out its investment business plan for 2010-11, which also includes collaborating with UC Regents and CIC about improvements to Barra One – its risk management system – and potentially further insourcing. Each fiscal year CalSTRS sets out... Read more »