The Latest

Dutch fund commits to member preferences

For the first time a pension fund board has committed to implementing the results of a member survey, ex ante, resulting in the Pensioenfonds Detailhandel, the pension fund for the retail sector in the Netherlands, increasing its commitment to sustainable investing.

Board make-up matters

The more political appointees and worker representatives sit on US pension fund boards, the more those funds will respond to incentives that encourage riskier investing, research has found.

New leadership prompts strategy review at ICPM

A decade since the formation of the Rotman International Centre for Pension Management is a good time to review the organisation’s raison d’etre. Amanda White spoke to ICPM chair, Barbara Zvan, chief investment risk officer of Ontario Teachers’ Pension Plan, and the outgoing and incoming executive directors, Keith Ambachtsheer and Rob Bauer.   “There is […]

The end of beauty contest active management?

Designing and implementing concentrated, long-horizon investment mandates would support longer term thinking, align pension organisation’s goals with its stakeholders, and reduce transaction costs. This was one of the recommendations of a two-day workshop in Toronto last month, attended by a delegation of 80 pension fund executives from around the globe. Aimed at uncovering the meaning […]

ESG and alpha

Academics collide on the relationship between environmental, social and corporate governance (ESG), and alpha. One view is there is a clear link that can be uncovered by a deep dive into the underlying factors using a sophisticated operating engine. The other perspective is that the market will price in environmental and social factors, the way […]

Property survey highlights green stars

The Global Real Estate Sustainability Benchmark (GRESB) is being actively used by its investor supporters, including PGGM, to make service providers accountable for ESG performance, with the second annual survey finding a larger proportion of managers in the top quadrant this year.

Lone wolves may secure the best returns

Some animals instinctively gather as a herd, apparently pension funds are such animals. A new asset allocation study by academics at Maastricht and Yale, presented at the ICPM discussion forum last week, reveals the mob behaviour by funds when it comes to asset allocation, leaving way for security selection to be the differentiator in returns.