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.
Michael Pettis on China’s overinvestment paradox, and the Japan-style reckoning still to come
China's advanced infrastructure and ballooning debt are two sides of the same story, says Carnegie Endowment nonresident senior fellow Michael Pettis, who compares China's coming consumption-led rebalancing to Japan's in the 1980s. In conversation with Top1000funds.com Asia Pacific correspondent Darcy Song, Pettis unpacks what this means for institutional investors weighing China exposure over multi-decade horizons, and why he remains bearish on the country's outlook.
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Decentralised investment management: evidence from the pension fund industry
This new research from the Pensions Institute at the Cass Business School studies the effect of decentralised investment management, including the use of multiple competing managers in specialist asset classes, on the risk and performance of pension funds. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Climate change expert upbeat on post-Copenhagen opportunities
Global head of climate change investment research at DB Climate Change Advisors, Mark Fulton, has a contrary view to most observers, post-Copenhagen. He spoke to Amanda White about the climate change market and the asset allocation implications for investors. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
ATP’s split portfolio
The performance of the hedging portfolio and a 43 per cent allocation to interest-rate sensitive bonds in the investment beta portfolio of the DKK352 billion ($65 billion) ATP were the main contributors to the group increasing pension reserves by one third last year. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Ibbotson reveals the ABCs – alphas, betas and costs – of hedge funds
Hedge funds, in aggregate, have generated positive alpha in the past 11 years. This finding, made by Roger Ibbotson, founder of Ibbotson Associates and Professor of Finance at Yale University, proves the strategies can resist powerful market declines but often fall short of providing absolute returns to investors. He spoke with Simon Mumme about the
CalPERS rates reputational risk above investments
Risk to reputation is more important than risk to investments according to a survey of internal staff at CalPERS completed as part of its governance/risk management initiative. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Ibbotson says Brinson ‘not quite right’ on returns
Portfolio specific asset allocation policy and portfolio security selection, timing and fees contribute equally to the variation of portfolio returns according to new research by Professor Roger Ibbotson of Yale School of Management, progressing earlier work by Brinson et al which attributed more than 90 per cent to asset allocation. mrec4inarticleinline Sponsored Content scnative1
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