At the age of 82, modern portfolio theorist, Harry Markowitz still has a lot to say about the state of play in investment management. In the January/February issue of the Financial Analysts Journal, Makowitz who is president of Harry Markowitz Company and adjunct professor of finance at the Rady School at the University of California, outlines a proposal for gaining insight into complex financial instruments, which includes the government sponsoring a survey of direct and indirect exposures.
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Photo gallery: FIS 2026 at Raffles Singapore
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Corporates walk funding tightrope as DB plans falter
An analysis of defined benefit schemes around the world reveal they all face the same issues of severe underfunding, but what should they do about it? In recent weeks, some of the world’s largest consultants have warned of the liability blow outs facing corporates with defined benefit (DB) pension plans. mrec4inarticleinline Sponsored Content scnative1 scnative2
Governance foiled by human folly at NY state fund
The third largest fund in the US, the $122 billion New York state pension fund, has recently been embroiled in a tale of greed, fraud, bribery and corruption, with a number of its alternative investment funds allegedly tainted by the wrong-doing of former employees of the state comptroller’s officer, including its former CIO. In this
Maybe it’s time to get back into the water, with a life jacket
Institutional investors have never been market timers, but in this editorial, publisher of conexust1f.flywheelstaging.com, Greg Bright, argues maybe now is the time for pension plans to take a bet. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Volatility sparks complete risk management review at CalPERS
Turmoil in financial markets and the need for greater transparency has triggered a review of the $174 billion CalPERS’ existing governance and risk management framework, with a new ad hoc committee tasked with reviewing the risk management framework across the entire business. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
AustralianSuper aims for beta returns after big cuts to active equities
The A$28billion (US$20 billion) AustralianSuper terminated several mandates with active equities managers last week and directed most of the freed-up capital to passive exposures bringing its passive management in equities to more than 50 per cent, in an effort to simplify its portfolio by trimming excess managers. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Embrace risk in asset allocation
Investors should be wary of “new paradigm” arguments, according to the latest research by consulting firm Wurts & Associates, which reminds investors the forces driving capital markets rarely change, but the position within market cycles is ever changing. Wurts & Associates’ philosophy on strategic asset allocation is that static portfolio structure is an ineffective means
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