Page 757 – Investment Magazine

Behind the fuzziness, there’s money in UN PRI

07/02/201905/08/2009 by Staff Writer

Normal 0

false false false

MicrosoftInternetExplorer4

st1:*{behavior:url(#ieooui) }

/* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:””; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:”Times New Roman”; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;}

At least one well-known funds management identity, when speaking privately about the UN PRI, will pronounce it so as to sarcastically emphasise the ‘PR’ part. He is saying what at least some of the industry is thinking. That becoming a signatory to the grandly named United Nations Principles for Responsible Investment looks great on a press release and is a nice thing to tell your members or investors, but is fuzzy when it comes to the actions required, and the outcomes that can be reasonably expected.

Pages: 1 2

Passive versus Active – Jack Gray and Ron Bird have their say

30/04/201505/08/2009 by Staff Writer

Jack Gray and myself were disappointed in the general tenor of the cover story last month on passive versus active management and annoyed by some of the views expressed. Therefore, we would like to take this opportunity to “correct” some of these views. We have restricted ourselves to those that we think are most important which we will address in the order that they appear in your article:

Passive versus Active – Jack Gray and Ron Bird have their say

30/04/201505/08/2009 by Staff Writer

Normal 0 false false false MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:””; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:”Times New Roman”; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;}Dear Editor, Jack Gray and myself were disappointed in the general tenor of the cover story last month on passive versus active management and annoyed by some of the views expressed. Therefore, we would like to take this opportunity to “correct” some of these views. We have restricted ourselves to those that we think are most important which we will address in the order that they appear in your article:

Pages: 1 2 3

Colonial goes global to reflect offshore revenue

07/02/201905/08/2009 by Staff Writer

One-quarter of Colonial First State Global Asset Management’s assets under management were sourced outside Australia at the end of the first quarter, but so was 40 per cent of total revenue and CEO Mark Lazberger thinks this proportion will increase.

Colonial goes global to reflect offshore revenue

07/02/201905/08/2009 by Staff Writer

CalPERS officially alters asset allocation, reduces discretionary ranges

07/02/201905/08/2009 by Staff Writer

The US$183 billion CalPERS board has made the first formal changes to its asset allocation targets since January 2008, increasing exposures to private equity and cash, and narrowing the discretionary ranges around all asset classes set in December last year. The new asset allocation, which sees the target allocation for its Alternative Investment Management (AIM) program, or private equity, increased from 10 to 14 per cent, global fixed income increased from 19 to 20 per cent, and cash increased from 0 to 2 per cent, is a short-term adjustment to the portfolio in the wake of the financial market crisis with the board planning to follow it with a more full-blown asset allocation and liability analysis in autumn next year.

CalPERS officially alters asset allocation, reduces discretionary ranges

07/02/201905/08/2009 by Staff Writer

Normal 0 false false false MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:””; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:”Times New Roman”; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} The US$183 billion CalPERS board has made the first formal changes to its asset allocation targets since January 2008, increasing exposures to private equity and cash, and narrowing the discretionary ranges around all asset classes set in December last year. The new asset allocation, which sees the target allocation for its Alternative Investment Management (AIM) program, or private equity, increased from 10 to 14 per cent, global fixed income increased from 19 to 20 per cent, and cash increased from 0 to 2 per cent, is a short-term adjustment to the portfolio in the wake of the financial market crisis with the board planning to follow it with a more full-blown asset allocation and liability analysis in autumn next year.

Pages: 1 2

JP Morgan pulls off US$1bn transition for Timorese SWF

07/02/201905/08/2009 by Staff Writer

The US$4.7 billion Petroleum Fund of Timor-Leste has begun diversifying its portfolio away from US Treasuries by appointing, for the first time, an external manager to invest $1 billion in high-grade, diversified fixed income, and has begun researching global equity managers. The fledgling democracy’s sovereign wealth fund, which until now was fully invested in US Treasuries, awarded a dedicated mandate to the Bank for International Settlements (BIS) to manage US$1 billion in longer-dated US government debt and the sovereign credit of other nations.

JP Morgan pulls off US$1bn transition for Timorese SWF

07/02/201905/08/2009 by Staff Writer

Normal 0 false false false MicrosoftInternetExplorer4 st1:*{behavior:url(#ieooui) } /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:””; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:”Times New Roman”; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} The US$4.7 billion Petroleum Fund of Timor-Leste has begun diversifying its portfolio away from US Treasuries by appointing, for the first time, an external manager to invest $1 billion in high-grade, diversified fixed income, and has begun researching global equity managers. The fledgling democracy’s sovereign wealth fund, which until now was fully invested in US Treasuries, awarded a dedicated mandate to the Bank for International Settlements (BIS) to manage US$1 billion in longer-dated US government debt and the sovereign credit of other nations.

Pages: 1 2

Mercer’s FUM grows more than $1bn, thanks to financial crisis

07/02/201905/08/2009 by Staff Writer

Mercer’s implemented consulting business has won more than $1 billion in new mandates from smaller institutional investors aiming to outsource their investment management obligations as the financial crisis intensified. Compared with the $3 billion Mercer’s implemented business garnered in the past five years, the mandates represent an accelerated growth of funds under management, the vast majority of which came from non-superannuation institutions, such as universities, foundations and charities.

Mercer’s FUM grows more than $1bn, thanks to financial crisis

07/02/201905/08/2009 by Staff Writer

Normal 0 false false false MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:””; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:”Times New Roman”; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} Mercer’s implemented consulting business has won more than $1 billion in new mandates from smaller institutional investors aiming to outsource their investment management obligations as the financial crisis intensified. Compared with the $3 billion Mercer’s implemented business garnered in the past five years, the mandates represent an accelerated growth of funds under management, the vast majority of which came from non-superannuation institutions, such as universities, foundations and charities.

Pages: 1 2

hedNo life after Madoff for ge fund Platypus

07/02/201905/08/2009 by Staff Writer

Sydney hedge fund manager Platypus Capital Management shut down last month as insufficient scale and the difficulty of raising capital from offshore clients in a “post- Madoff world” made business as an independent Australian hedge fund unviable. Even though convicted US fraudster Bernard Madoff claimed to run a market-maker investment firm, not a typical hedge fund, his momentous crime hurt the hedge fund industry, whose managers have a reputation for keeping their strategies secret from investors.

Behind the fuzziness, there’s money in UN PRI

Passive versus Active – Jack Gray and Ron Bird have their say

Passive versus Active – Jack Gray and Ron Bird have their say

Colonial goes global to reflect offshore revenue

Colonial goes global to reflect offshore revenue

CalPERS officially alters asset allocation, reduces discretionary ranges

CalPERS officially alters asset allocation, reduces discretionary ranges

JP Morgan pulls off US$1bn transition for Timorese SWF

JP Morgan pulls off US$1bn transition for Timorese SWF

Mercer’s FUM grows more than $1bn, thanks to financial crisis

Mercer’s FUM grows more than $1bn, thanks to financial crisis

hedNo life after Madoff for ge fund Platypus

Podcast

‘Crazy’ to bet against US, AI momentum: CFS Super CEO

Podcast

Rest CIO Michael Clancy at the Australian Superannuation Investment Summit

Investment Strategies

CIO Profiles

Governance

Operations

Login via LinkedIn

Login with account details

Subscribe now to

Investment Strategies

CIO Profiles

Governance

Operations

Our partners

Subscribe to our podcast