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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Equity paradigms challenged
A number of new research articles have deunked two universally held beliefs in the investment industry, that shares are a good long-term bet and that economic growth is good for equities. Dr Arjuna Sittampalam, Research Associate with the EDHEC-Risk Institute and editor, Investment Management Review, examines the research. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Massachusetts special commission recommends system changes
A recently completed report by a special commission into the appropriateness of the Massachusetts retirement system contemplated the defined benefit versus defined contribution benefit design, concluding that the existing defined benefit structure was optimal, in part because it put the portfolio management in the hands of professionals. The report entitled, The Special Commission to Study
Dump cap-weighted indexing for ‘efficient beta’
 The status quo of ‘passive’ equity investment, ranking companies by market capitalisation, is delivering lower returns for higher volatility than a beta strategy which blends a cap-weighted approach with two of its competitors – minimum variance and fundamental indexing. Michael Bailey spoke to Lazard Asset Management’s Asia Pacific chief, Rob Prugue, about a paper co-written
Dump cap-weighted indexing for ‘efficient beta’
The status quo of ‘passive’ equity investment, ranking companies by market capitalisation, is delivering lower returns for higher volatility than a beta strategy which blends a cap-weighted approach with two of its competitors – minimum variance and fundamental indexing. Michael Bailey spoke to Lazard Asset Management’s Asia Pacific chief, Rob Prugue, about a paper co-written
HMC strengthens internal investment support with IT hires
The Harvard Management Company (HMC) is looking to fill 12 new IT positions across trading, risk and portfolio management in a move that strengthens its internal investment support structure even more. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Texas investment pros given room for bigger bonuses
The chief investment officer and senior investment professionals at the $88 billion Teacher Retirement System of Texas can earn up to 125 per cent of their base salary in performance compensation, under a new version of the fund’s pay rules. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
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