ANALYSIS

CalPERS ups transparency

CalPERS has expanded its tracking of strategic metrics in its ongoing review of performance, which could lead to some tough queries making their way into online recordings of board sessions.
ANALYSIS

Sourcing liquidity in fragmented markets

As equity trading becomes more fragmented, and more trading is done outside exchanges, it is prudent to assess whether alternative liquidity pools contribute to well-functioning markets. Norges Bank Investment Management has done the work for you, analysing the contributions, structures and functions of trading venues with limited pre-trade transparency. One of the benefits of liquidity... Read more »
INVESTOR PROFILE

Integrity integral in search for managers: Mass PRIM

Chief investment officer of the $60 billion Mass PRIM, Michael Trotsky, believes the CFA Code of Conduct helps institutional investors assess managers and is an important step in restoring trust in financial services. Integrity will form part of the due diligence process as the fund looks for private equity co-investment partners for the first time.... Read more »
IN CONVERSATION

OECD leads global infrastructure push

Simply comprehending the myriad of national institutional investing systems, investor types and priorities can be an onerous task. Attempting to coordinate an international effort to promote an uncommon investment strategy choice is well and truly herculean. That is the challenge facing Raffaele Della Croce and the rest of the team behind the Organisation for Economic... Read more »
OPINION

End of the beginning for responsible investment

Recent reflections on this month’s five-year anniversary of the Lehman Brothers collapse have focused on a variety of developments since the crisis: from reform to remuneration, sovereign debt to shadow banking, and from offshore tax to the Occupy movement. However, one significant area that has been largely overlooked has been the rise of sustainable and... Read more »
NEWS

Ugo Bassi focuses on transparency at ICGN

For many people their most memorable in situ news moment is when man landed on the moon or when John Lennon, Princess Diana or Michael Jackson died. But most Italians will remember where they were when Pope Benedict XVI resigned. A country with record unemployment, no head of state and no head of the church... Read more »
EDITORIAL

Smart beta: where is the value?

I’ve been contemplating the “smart beta” wave the industry seems to be riding at the moment. Cynically, part of that contemplation asks whether there is any innovation at play or whether it’s simply the industry playing with nomenclature once again. The answer is confusing, for while I’d like to be able to write it off... Read more »
NEWS

Fund “heads in sand” on climate risk

An Australian superannuation fund with A$6.6 billion ($6.9 billion) under management has achieved number-one ranking in a global survey of how the world’s top 1000 retirement funds, insurance companies and sovereign wealth funds are responding to climate risk. Sydney-based Local Government Super (LGS) has received the top ranking in the inaugural Climate Index of the... Read more »