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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CalPERS sets investment strategy
The $206 billion California Public Employees’ Retirement System (CalPERS) set its investment strategy roadmap for 2010 at a board offsite last week, as chief investment officer, Joe Dear, attributes strong gains in 2009 to a “sharpened investment focus”. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Kansas PERS cuts global equities
The Kansas Public Employees Retirement System is slowly reducing its exposure to global equities as it explores “just about everything else”. Amanda White spoke with chief investment officer Robert ‘Vince’ Smith about the fund’s plans for 2010 which include an asset/liability study and the reorganisation of its equities allocations. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Back to normal
In this research brief, Tim Barron suggests the entire notion of the “new normal” being somehow different is an exaggeration or an embellishment. He says there is nothing “new” about this normal but it is more appropriately described as “back to normal.” And, that if it lasts for three or more years, it will then
Collective investments for pension saving: lessons from Singapore’s CPF scheme
New research by the Pension Research Council at The Wharton School, University of Pennsylvania, examines whether workers seeking higher returns can expect to do better than the CPF-managed default, by moving their money into professionally-managed unit trusts. The evidence is mixed. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Passive tilt for Massachusetts state fund
The $42 billion Massachusetts Pension Reserves Investment Management (PRIM) will move half of its developed non-US equity portfolio and 25 per cent of its emerging market equity portfolio into passive strategies and has begun a search for a single manager for each asset class with a commencement date of May. mrec4inarticleinline Sponsored Content scnative1 scnative2
Ontario Teachers’ buys UK schools from private equity
The private capital arm of the $87.4 billion Ontario Teachers’ Pension Plan (OTPP) has acquired a UK special education and fostering services provider believed to be valued at about £200 million ($326 million). mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
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