In this timely analysis, Wurts & Associates examines the active management environment, warning investors of the pitfalls of studying and choosing active managers including a reminder that reaching for high levels of benchmark relative excess returns can be potentially rewarded, but only in a marginal way relative to lower tracking error managers. It also concludes that measuring managers relative to capitalisation-weighted benchmarks isn’t fair.
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Managing money for default super is a possibility for Australia’s sovereign wealth fund. Its leadership also said becoming more ‘nimble’ and adding activity in venture and growth were priorities.
Carlyle’s Jason Thomas says private-equity investors miss out when they try to call the top of the cycle. He thinks Trump’s impact has been overblown and that the current cycle isn’t done yet.
CalPERS is happy with its consultants, except for their performance in recommending ways to control fees and costs and their presentation of new investment ideas, a board rating reveals.
PGGM and APG are well advanced in developing a process to identify potential sustainable development investment opportunities that could transform the UN’s targets into tangible returns.
As China readies for its five-yearly leadership reshuffle, global investors are watching to see how they’re poised to manage the world’s second-largest economy as it faces up to its debt dilemma.
Author Satyajit Das, who warned about derivatives before the GFC, says debt levels have turned the whole world into a carry trade and managers need to get close to real income streams.
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