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CalPERS rehires external FI managers despite preference for insourcing

CalPERS’ investment staff, and its consultant Wilshire, are recommending the board re-hire the fund’s external fixed-income managers which represent 9 per cent of the $50 billion fixed-income portfolio, despite the long-term strategy of a preference for insourcing.mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3

Coming out for gay and lesbian themes

With the return to favour of top-down equities management and renewed focus by pension funds on their asset allocation and beta exposures, there has consequently been a resurgence in thematic investment styles and products. CLICK HERE TO READ MOREmrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3

‘Lazy’ actuaries need to look forward, not back

The answer to underfunding is a closer working relationship between actuaries and investment professionals in forecasting investment returns and setting lower discount rates, according to Karen Harris, vice-president in the capital markets research group at Callan Associates, who believes funds cannot rely on investment strategies alone to get them “out of this hole”.mrec4inarticleinline Sponsored Content

Norway’s SWF makes first property investment

Norges Bank Investment Management, which manages the Norwegian $2,908 billion kroner ($500 billion) Government Pension Fund Global, has made its first property investment following approval by the Norwegian Government to invest in the asset class in March.mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3

Rebalancing not so simple with diverse beta sources

Simple reblancing of portfolios back to strategic ranges after a market rise or fall is not as simple as you may think, according to a research note from brokers Morgan Stanley. The new investment required after a fall may be surprisingly large.mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3

GMO says QE2 set to hit shoals

On the eve of an anticipated second round of quantitative easing – QE2 – a number of commentators, including GMO’s Jeremy Grantham, have criticised Fed’s policy as a large net negative to the production of a healthy, stable economy. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3

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