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.
New Jersey’s $85 billion fund stockpiles cash, eyes PE secondaries
An underweight position across private markets, predicated on a view that geopolitics and inflation mean interest rates are not coming down any time soon, has positioned the New Jersey Division of Investment with plenty of dry powder and a cash position four times the policy allocation. It is now readying for opportunities in private equity secondaries and with emerging managers. Chief investment officer Shoaib Khan spoke to Top1000funds.com.
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PME’s path to recovery
PME, the €18.8 billion (US$25.6 billion) industry-wide pension fund for the mechanical and electrical engineering sector in the Netherlands, has seen its funding ratio fall 45 per cent over the last year. Kristen Paech talks to the fund about its recovery plan, including the decision not to rebalance equities, and the benefits of using a
US plays catch-up, institutions applaud “say on pay” reforms
Institutional investors in the US, including the largest pension fund in the country, CalPERS, have applauded the introduction of the Shareholder Bill of Rights which includes reform to allow long-term investors to nominate their own director candidates on the management proxy card. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
A Simple Theory of the Financial Crisis; or, Why Fischer Black Still Matters
In this month’s Financial Analysts Journal, Tyler Cowen professor of economics at George Mason University, Virginia makes sense of the current financial crisis by drawing on some of Fischer Black’s ideas. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Arizona expands allocation ranges, freezes private investments
The $27 billion Arizona State Retirement System has extended its asset allocation ranges and postponed the approval of new commitments to private market investments until the end of June, unless an overriding investment opportunity exception exists. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Bps speak: the real value in internal management
A 10 per cent increase in internal investment management results in a 4.2 basis points increase in net value added to a pension fund’s bottom line, according to analysis of the CEM Benchmarking database, which has data on more than 380 global pension funds from 1991 to 2007. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
CIC creates new investment teams, scouts opportunities offshore
As global markets nosedived and its initial investments soured, the China Investment Corporation (CIC) took the opportunity to reorganise its investment operations and focus on less risky investments at home and in Asia. Simon Mumme reports. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
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