In this episode, Alex Proimos, head of domestic content, Conexus Financial, chats with Veronica Klaus, general manager – investment consulting at Lonsec, about a range of topics including the advice gap, allocations for retirement, liquidity in private assets and income strategies for retirees.
NZ Super cuts benchmark return expectation on US valuation concerns
A view that the US stock market is overvalued and equity risk premia will be lower over the long term has driven New Zealand Super to lower the return expectations for its reference portfolio following its recent five-yearly review of the benchmark. Co-chief investment officer Brad Dunstan also flags underweight commodity exposure as an area to address and explains why the fund remains sceptical of illiquidity premia despite seeing a growing case for private markets.
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PGGM finds alpha via internal management of illiquids
PGGM Investments, the 17th largest institutional investor in the world, as ranked by the Watson Wyatt top 300, has introduced a number of new investment strategies and has plans to significantly increase its in-house investment management this year. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Unlisted infrastructure on pension fund radar
Global pension fund allocations to unlisted infrastructure have grown in recent years but Australian pension funds continue to lead the way when it comes to actual investments according to a report published by the Organisation for Economic Cooperation and Development (OECD), which also called for more help from governments in enhancing the investment environment. mrec4inarticleinline
SWFs eye private real estate funds
New research reveals many sovereign wealth funds (SWFs) have entered the private fund arena and more are planning to invest through private equity funds in the future. According to analysis from the 2009 Preqin Sovereign Wealth Fund Review, which contains investment plans for all SWFs active in the real estate sector, 13 per cent invest
Should hedge funds delay taking performance fees?
The US$173 billion California Public Employees’ Retirement System (CalPERS) is restructuring the relationships it has with its hedge fund managers and calling for fees to be based on long-term rather than short-term performance. CalPERS said performance fees should be judged on a long-term basis, and mechanisms such as delayed realisations and clawbacks can better align
OMERS’ new co-investment entity gateway to private deals
The Ontario Municipal Employees Retirement System (OMERS) has created a new investment entity, called OMERS Strategic Investments, with a specific mandate to secure co-investment relationships with like-minded investors from around the world, and facilitate a move to its target of about 42 per cent of investments in private markets. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Beware of PE secondaries “rubbish” as dealflow rises, valuations drop
Investors in the private equity secondaries universe must be selective as more assets, including distressed assets, come to market and valuations seem set to head south. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
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