september

CIO profiles

New CIO mulls global revolution at Universities Super

Roger Gray has become the first new chief investment officer of the £27 billion Universities Superannuation Scheme (USS) in 17 years, and will reconsider the fund’s use of regional equity mandates. In the British pension environment, USS is in a privileged position as one of the few defined benefit schemes that is still open, contributions […]
CIO profiles

New CIO mulls global revolution at Universities Super

Roger Gray has become the first new chief investment officer of the £27 billion Universities Superannuation Scheme (USS) in 17 years, and will reconsider the fund’s use of regional equity mandates. In the British pension environment, USS is in a privileged position as one of the few defined benefit schemes that is still open, contributions […]
Hedge Funds

Infrastructure allocations below 3 per cent “meaningless”

While infrastructure as an asset class has been embraced by pension funds in Europe and Australia alike, in the US it is still a nascent concept. The difference is largely down to a lack of privatisation in the US, where infrastructure historically has been provided by local and state government. In North America, funds such […]
Hedge Funds

Infrastructure allocations below 3 per cent “meaningless”

While infrastructure as an asset class has been embraced by pension funds in Europe and Australia alike, in the US it is still a nascent concept. The difference is largely down to a lack of privatisation in the US, where infrastructure historically has been provided by local and state government. In North America, funds such […]
Hedge Funds

The case for hedge fund betas: lessons learned about correlations

US-based quant shop AQR Capital has helped pioneer the notion of hedge fund beta as an investable product. With first-year performance numbers now in, GREG BRIGHT spoke with the firm’s managing and founding principal, Cliff Asness. Cliff Asness has been talking about hedge fund beta for some years. He wrote a paper about it, with […]
Hedge Funds

The case for hedge fund betas: lessons learned about correlations

US-based quant shop AQR Capital has helped pioneer the notion of hedge fund beta as an investable product. With first-year performance numbers now in, GREG BRIGHT spoke with the firm’s managing and founding principal, Cliff Asness. Cliff Asness has been talking about hedge fund beta for some years. He wrote a paper about it, with […]
Investment Strategy

Currency to crimp the master trusts’ comeback

The comeback of retail master trusts against industry funds in the performance stakes will face a headwind if the Australian dollar remains high, because their average strategic hedging level is much lower, according to data from Chant West Financial Services. “To the extent that anyone’s not 100 per cent hedged, they are suffering at the […]
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