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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New ICGN Principles shift focus to behaviour
The International Corporate Governance Network (ICGN) has revised its Principles for the first time since 2005, shifting the focus from structures to behaviour and culture, as well as adding two new Principles, including risk management, as a result of the financial crisis. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
CalPERS gives external managers one more year, pending review
CalPERS has extended the mandates of its external global equities managers by one year to enable staff to complete the asset class review, which will produce a recommendation about the role of external managers in the portfolio. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Global flow data shows investor caution
Institutional investors have taken their feet off the gas, with the latest data from State Street Global Markets showing a “neutral” reading for cross-border flows and consensus views on global markets. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
CalPERS reviews consultant requirements as it goes to tender
CalPERS has expanded the scope of services required by its primary pension consultant, including the provision of more strategic advice and better communication between board and staff, as part of an RFP for a general consultant to be released in December. The contract with Wilshire Associates, the fund’s consultant since 1983, is due to expire
CPPIB chief calls for infrastructure privatisation
The chief executive of the C$117 billion ($111 billion) Canada Pension Plan Investment Board, David Denison, has urged the Canadian government to keep pace with the privatisation of assets in other jurisdictions such as the UK, Australia and to some extent the US, as it looks to increase beyond the combined $16.1 billion already invested
Maryland moves to strategic allocations profiting private equity and commodities
The $32 billion Maryland State Retirement System is searching for advisers in real estate and private equity, as it moves toward its strategic asset allocation target that sits signficantly distant from its actual investments at the end of September, requiring a quadrupling of its private equity investments and new allocations to real return assets. mrec4inarticleinline
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