In this month’s Financial Analysts Journal, Tyler Cowen professor of economics at George Mason University, Virginia makes sense of the current financial crisis by drawing on some of Fischer Black’s ideas.
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A Simple Theory of the Financial Crisis; or, Why Fischer Black Still Matters
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Photo gallery: FIS 2026 at Raffles Singapore
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US plays catch-up, institutions applaud “say on pay” reforms
Institutional investors in the US, including the largest pension fund in the country, CalPERS, have applauded the introduction of the Shareholder Bill of Rights which includes reform to allow long-term investors to nominate their own director candidates on the management proxy card. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Arizona expands allocation ranges, freezes private investments
The $27 billion Arizona State Retirement System has extended its asset allocation ranges and postponed the approval of new commitments to private market investments until the end of June, unless an overriding investment opportunity exception exists. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Bps speak: the real value in internal management
A 10 per cent increase in internal investment management results in a 4.2 basis points increase in net value added to a pension fund’s bottom line, according to analysis of the CEM Benchmarking database, which has data on more than 380 global pension funds from 1991 to 2007. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Where the growth is: mandate trends in 2009
As a recent survey by US management consultant Casey Quirk showed, for investment management, 2009 is all about beta. Director of research, Ben Phillips, spoke to Kristen Paech about mandates that pension funds are investigating, and the role alpha may play. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
That market’s got style: investing through cycles
Style investing remains a powerful tool in periods of market volatility and, in particular, style analysis reminds investors to be aware of the distinction between overall market risk and stock specific risk. Amanda White spoke with director of Style Research, Robert Schwob. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Risk reduction pays off for ABP
The giant Dutch pension fund ABP’s plan to reduce investment risk as a means of recovery from an underfunded position is paying dividends, with the coverage ratio increasing from 86 to 91 per cent from March to April. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
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