I chat with Christina about her experiences starting her own firm dealing with high frequency trading strategies, and her observations about how high frequency strategies have evolved, where they are now, and where they may be going in the future.
PMT talks infra equity and how to balance stock concentration risk
Scenario testing has put inflation risk front and centre at PMT, the Netherlands’ third largest pension fund, and it's driving the investor to take stock of the inflation protection it gets from infrastructure. In an interview with Top1000funds.com, chief investment officer Hartwig Liersch unpacks the risk, as well as another initiative where it's balancing concentration risk in the equity allocation without hurting returns.
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Coming out for gay and lesbian themes
With the return to favour of top-down equities management and renewed focus by pension funds on their asset allocation and beta exposures, there has consequently been a resurgence in thematic investment styles and products. CLICK HERE TO READ MOREmrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
‘Lazy’ actuaries need to look forward, not back
The answer to underfunding is a closer working relationship between actuaries and investment professionals in forecasting investment returns and setting lower discount rates, according to Karen Harris, vice-president in the capital markets research group at Callan Associates, who believes funds cannot rely on investment strategies alone to get them “out of this hole”.mrec4inarticleinline Sponsored Content
Hybrid pension plans: history, economics, features
As the trend away from defined-benefit pension funds continues around the globe, this paper by Towers Watson examines the plan design of hybrid funds looking at the risks, funding volatility, cost control and lifetime income.mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Norway’s SWF makes first property investment
Norges Bank Investment Management, which manages the Norwegian $2,908 billion kroner ($500 billion) Government Pension Fund Global, has made its first property investment following approval by the Norwegian Government to invest in the asset class in March.mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
The impact of scale, complexity, and service on admin costs
Using data on 90 pension funds from 2004-2008 this paper examines the impact of scale, the complexity of pension plans, and service quality on the adminstrative costs of pension funds, and compares those costs across Australia, Canada, the Netherlands, and the US. It finds that, except for Canada, large unused economies-of-scale exist.mrec4inarticleinline Sponsored Content scnative1
Rebalancing not so simple with diverse beta sources
Simple reblancing of portfolios back to strategic ranges after a market rise or fall is not as simple as you may think, according to a research note from brokers Morgan Stanley. The new investment required after a fall may be surprisingly large.mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
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