In this episode, Alex Proimos, head of domestic content, Conexus Financial, chats with David Bell, executive director of the Conexus Institute, about a range of topics including governance models, market timing, heatmaps and early access.
NZ Super cuts benchmark return expectation on US valuation concerns
A view that the US stock market is overvalued and equity risk premia will be lower over the long term has driven New Zealand Super to lower the return expectations for its reference portfolio following its recent five-yearly review of the benchmark. Co-chief investment officer Brad Dunstan also flags underweight commodity exposure as an area to address and explains why the fund remains sceptical of illiquidity premia despite seeing a growing case for private markets.
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Pension CIOs re-evaluate China exposure
The CIOs of three global pension schemes have told the 2023 Fiduciary Investors Symposium they are re-evaluating or reducing their exposure to the world’s second largest economy as tensions between the US and China escalate. But they are resisting total divestment to a country that still dominates emerging markets benchmarks.
CalSTRS positions to take advantage of energy transition
CalSTRS has recognised the unique opportunity presented by the energy transition needs a unique response and its Sustainable Investment and Stewardship Strategies (SISS) portfolio has been specifically positioned to invest in opportunities that fall between private equity and infrastructure asset class buckets.
Railpen: Fiduciary management in practice
Railpen has combined its fiduciary and risk management roles enhancing the fiduciary element across investment strategy and developing a risk model that fits better with the long-term thinking of a pension fund explains Mads Gosvig, the fund's chief officer, fiduciary and investment management.
Florida SBA hikes pay levels; portfolio managers gain most
Florida State Board of Administration has significantly increased compensation for its investment professionals in line with midway pay levels at peer funds. Early stage portfolio managers see the sharpest rises reflecting competition in that corner of the market but the SBA is also paying more to its back office staff.
Why City of Austin goes evergreen in first private markets foray
With a new funded policy in place, CIO David Kushner is building a new private markets allocation at COAERS. He explains why private credit evergreen investments make a good starting point for a new private markets allocation that will make up 10 per cent of the fund.
Global search begins for CEO of $166b Australian Retirement Trust
Recruitment firm Egon Zehnder has been appointed to do a global search for the next CEO of the Australian Retirement Trust following the resignation of Bernard Reilly two years after the pension fund’s formation by the merger of Sunsuper and QSuper.
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