In this episode, Alex Proimos, head of domestic content, Conexus Financial, chats with Rob Pruguel, principal consultant at Callidum Investment Research, about vulnerability as we restart the global economy, consolidation with superannuation and how bigger isn’t always better.
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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Why cash should not be king … often
The superannuation industry’s promise to deliver steady investment returns over the long-term is unnecessarily compromised by funds’ need to maintain a high level of liquidity.mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Managing investment risk
This survey-based study describes how large global funds manage investment risk from strategy to implementation. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Politicians, fraud and investment professionals at New York State’s $124b fund
Most public sector pension funds are subject to some sort of political interference, notwithstanding the best efforts of fund trustees and staff. Few, however, can rival the experience of America’s third-largest fund, the New York State Common Retirement Fund.mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Navy fund outsourcing a first for Towers Watson in CIO role
The $4.75 billion (£3 billion) UK Merchant Navy Officers Pension Fund has upgraded its relationship with consultant Towers Watson, having appointed the firm as its “delegated chief investment officer”, which is the first such arrangement for the consultant.mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Currency: a zero-sum game fiduciaries are forced to play
The biggest decision facing pension fund investment committees this year could well be their position on currencies, particularly the greenback and the euro. The currency decision is never an easy one to make and at the moment it seems particularly difficult as politics is overlaid onto market fundamentals.mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
New governance guidelines for fiduciary investors
The International Corporate Governance Network has published an updated set of guidelines for fiduciary investors to help assess and control corporate risk in their portfolios.mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
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