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Investor Profile

NBIM eyes Asia’s growth as global capital shifts east 

The $1.8 trillion Norges Bank Investment Management marks the 15th anniversary of its Singapore office this year, with the unit now firmly established as its Asia-Pacific stronghold. As regional growth set to continue in the coming decade, NBIM is well-positioned to capitalise on it, says Singapore head Sumer Dewan.
Equities

Rebalancing at UTIMCO: Why investors should worry about corporate earnings

In a recent board meeting, University of Texas Investment Management Co's head Rich Hall explained why he is concerned about corporate earnings' impact on equity returns. He also warned that as consumer and company spending slows, a recession can become self-fulfilling until new facts emerge to break the pattern.
Asset Allocation

CalPERS finds continuity in climate of uncertainty

Investors are grappling with a multi-regime change that is manifesting in trade and geopolitical upheaval and a rise in real interest rates. But at a recent meeting, the CalPERS board heard that US equities remain top performers and the dollar, though weaker, is still historically strong and wil remain so.
Investor Profile

Finland’s Ilmarinen prepares to increase risk ahead of new pension rules

Ilmarinen, Finland’s €63 billion ($73 billion) pension insurer, is laying the ground to significantly increase its equity allocation ahead of new pension rules in the country. CIO Mikko Mursula is preparing for a sharp increase in volatility of annual returns and the enhanced role and importance of diversifying the portfolio.
Infrastructure

Temasek chases core-plus infra, creates private credit offshoot

The $338 billion Singapore state investor Temasek is contemplating allocating more capital to core-plus infrastructure projects, especially those related to data centres, energy transition and ageing facilities. The fund also spun out a standalone private credit platform called Aranda from its in-house credit team last fiscal year. 
Investor Profile

North Carolina TSERS: Taxpayers deserve better in governance overhaul too

Ditching the sole trustee for a five-person board will help bring North Carolina’s pension funds out of enduringly weak performance by encouraging risk taking, says treasurer Brad Briner, whose experience includes managing Mike Bloomberg’s money. Sarah Rundell spoke to the treasurer about the new governance and investment overhaul.
Asset Allocation

GPIF pins active equity overhaul on ‘scientific’ manager selection

A quest for manager and fund strategy diversification has led the world's largest pension fund, Japan’s Government Pension Investment Fund, to reach a decade-high allocation to active global stocks. Its active equity portfolio now consists of 103 funds, increasing fivefold compared to 2020 when it only invested in 20.
Investor Profile

Japan University Fund expands active allocation guided by risk factors

The $77 billion Japan University Fund is stepping up active strategies and introducing country-specific passive allocations as the young endowment, established only in 2022, builds out the policy portfolio. Co-CIO and the head of global investment department Naoya Sugimoto speaks about JUF's vision and manager expectations.
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INVESTOR PROFILE
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IMCO CIO Rossitsa Stoyanova.
Investor Profile

IMCO reconsiders US exposure as geopolitical landscape shifts

The Investment Management Company of Ontario is re-evaluating its US exposure amid concerns over the ongoing trade war and growing US debt and deficits. In an interview with Top1000funds.com, CIO Rossitsa Stoyanova outlines how the fund continues to internalise with a focus on private assets.
Sustainability
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Sustainability

Canada’s anti-greenwashing rule sparks far-reaching impact for pensions

Canadian pension giants are grappling with the complex consequences of a national anti-greenwashing rule, which could leave businesses more exposed to legal challenges for issuing environmental claims. CPPIB’s retreat from its net zero target is an indication that compliance anxiety is adding complexity and divergence in climate reporting among funds.
News

Real assets, public equity the key as Oregon PERS gets climate mandate

The US state of Oregon is on the cusp of passing a legislation that will require the $100 billion Oregon Public Employees Retirement System to invest in clean energy wherever possible as it aims for a net-zero portfolio by 2050.
Organisational Design

Reconciling ethics and returns in pursuit of a sustainable economy

Can investors and governments balance financial returns with social equity, or will short-term gains prevail? Anastassia Johnson, researcher at the Thinking Ahead Institute, tackles the complex debate about what makes a just transition.
FIS Harvard 2025

Path to net zero requires honest dialogue about sustainable investing

Leading institutional investors at the Fiduciary Investors Symposium at Harvard said the industry could benefit from having a franker conversation about sustainable investments, both in terms of what climate goals are achievable on the path to net zero and what is behind the pushback on ESG funds.  
Asset Classes
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Digital assets

North Carolina opens the door to bitcoin but state treasurer remains wary

North Carolina state treasurer Brad Briner tells Top1000funds.com in an interview that bitcoin will need to be less volatile for it to attract state investment, and points to a longer-term worry in digital assets that could have “a profoundly negative implication for our country”.
Private Credit

WSIB edges towards standalone private credit, eyeing best GPs

Unlike many other US institutional investors, Washington State Investment Board has not built out a large private credit allocation. This autumn the board will decide on the size and shape of a standalone allocation in which partnering with top quartile GPs will be essential.
Investor Profile

Dutch insurer NN flags loose lending and copious capital in private credit

Marieke van Kamp, head of private markets at Dutch insurer NN, flags growing risks in private credit. In an interview with Top1000funds.com, she also outlines NN's partnership model with managers and argues the case for sustainable real estate.
FIS Harvard 2025

Long-term investors can help break VC’s short-term trap

The short-term investment focus of venture capital investors and the withdrawal of government funding are opening the door to asset owners as providers of patient, long-term capital to fill an investment void, the Top1000funds.com Fiduciary Investors Symposium has heard.
FIDUCIARY INVESTORS SYMPOSIUM STANFORD
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FIS Stanford 2018

FIS Stanford Photo Gallery

View photos from the 2018 Fiduciary Investors Symposium, held at Stanford University, United States.
FIS Stanford 2018

China’s enticing, challenging market

Inefficient markets and an explosion of technological innovation fuelled by Millennial consumers make China a tantalising prospect but accessing strong returns there isn’t as simple as it looks.
FIS Stanford 2018

Protecting human capital helps everyone

Investors have plenty to gain from helping to protect human rights in supply chains and managing the human costs during technological disruption and the transition to a low-carbon economy.
FIS Stanford 2018

How to follow megatrends to success

The big themes that will fuel growth in coming decades are interconnected and subject to change. An expert panel gave advice on riding societal change to outperformance.
FIS Stanford 2018

How the active complements the passive

Investors discuss the various ways that two styles often presented as if they are enemies in fact work hand in hand across portfolios to produce returns.
Asset Allocation
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Investor Profile

UPP: Canadian investor looks outside US markets

Canada's University Pension Plan is eyeing new risks and opportunities triggered by policies from the Trump administration, like additional taxes for US investments and a surge of public spending on defence and infrastructure in Germany. It is also fine-tuning its roster of active managers.
Asset Allocation

AP3: TAA and why the market, not the media, is right about the US recovery

AP3 chief investment officer Jonas Thulin shows how AP3 has benefited from tactical asset allocation. He also argued that although the media is still reporting concerns about the US economy, the market is painting a healthier picture.
FIS Harvard 2025

‘Don’t try to be a hero’: Volatility highlights the need for discipline

Policy uncertainty over issues such as US tariffs put investors in uncharted territory, but the Top1000funds.com Fiduciary Investors Symposium heard that one guiding principle at such moments is not to make big, risky bets.
Asset Allocation

University of California: Equity boost, and fossil fuels back on the table

In a wide ranging investment committee meeting, University of California CIO Jagdeep Singh Bachher argues that rationale for increasing the equity allocation and warns that although excluding fossil fuels currently works 'ok' it may come up for review.
Strategy
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News

KIC eyes pivot to total portfolio approach in latest review

The $206.5 billion Korea Investment Corporation has become the latest asset owner weighing a shift into the total portfolio approach in an attempt to boost investment returns. After putting out an RFP for a consulting partner in May, it will conduct a review into early next year about TPA's feasibility.
InFocus

TAA critical to adding value over the next six to 18 months

After several painful years, geographical diversification is finally working and will continue to work, at least in the short term, with increasing signs of a valuation advantage for non-US stocks and bonds, according to T. Rowe Price’s Sébastien Page. He says it's time to make use of tactical asset allocation.
Investor Profile

USS swings into surplus but flags re-think after Thames losses

USS says losses in Thames Water have led to deep reflection on how it will invest in regulated assets in the future, flagging the need for consistent regulation to support pension fund investment. As the fund celebrates its 50th year it records a surplus for the first time since 2008.
Strategy

UK’s transition-focused SWF gets green light

UK Chancellor of the Exchequer Rachel Reeves didn’t waste any time approving the UK’s new SWF aimed at funding the energy transition. As it begins to lay down structure and governance frameworks critics point to the challenges of bringing projects to a level where they are investable.