Fantastic conversation with Igor Halperin around the application of reinforcement learning into forecasting problem, and the limits to data and understanding the world.
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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Money managers snooker consultants: Ennis
Reflecting on 40 years in the investment industry, founder of Ennis Knupp & Associates and executive editor of the FAJ, Richard Ennis, tells Amanda White why the investment consulting industry is at risk of becoming a distribution arm for the money management industry.mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Korea’s national fund steps on the gas with global shift
The $200 billion National Pension Fund of Korea, which like many Asian funds sailed through the global crisis virtually unscathed, is looking to reduce its big overweight to fixed interest in favour of international equities and other growth assets.mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Mezzanine opportunities in real estate
Institutional investors could consider the issuance of new performing senior and mezzanine debt as a lower risk opportunity in real estate, according to a new paper, “Real estate debt – from crisis comes opportunity”.mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Investing in inflation protection
This paper by Anand Iyer and Jennifer Bender from MSCI, acknowledges that the current tug-of-war between inflation and deflation has created considerable confusion for investors, and explores these characteristics of inflation-protected bonds to see if, and to what extent, they have contributed to portfolio diversification and provided investors with protection from inflation and deflation.mrec4inarticleinline Sponsored
How emerging markets are taking over in cleantech
While the emerging world is often considered a problem for global attempts to control or reduce carbon emissions, from an investment perspective it looks as if these countries may be currently offering more and better opportunities.mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Aussie investors should get out more: Urwin
Australian institutions’ prevailing home-country equity bias was based on a series of lucky breaks for the domestic market and was not worth the concentration risks to which it exposed investors, said Roger Urwin, Towers Watson’s global head of investment content. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
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