Active investing – Page 2
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Opinion PiecesPension funds may see merits in owning few stocks, but concentrated equity strategies carry undue risk
When a small but influential group of pension funds, mostly located in the Netherlands, signals a clear shift away from broad equity diversification and towards more concentrated strategies, it does not go unnoticed.
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Asset Class ReportsConcentrated portfolios: How investors are challenging common wisdom by reverting to old-fashioned stock picking
For equity investors of all kinds, the clear trend of the past few decades has been a shift away from stock picking and towards broadly diversified portfolios, managed through passive index exposure or, at most, passive-enhanced or quantitative strategies.
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Asset Class ReportsDown, but not out: Private equity enters a recovery phase
GPs are staging a comeback after several years of disappointing returns
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Special ReportCase study: PenSam switches to active strategies using new carbon budget benchmark
Henrik Lorin Rasmussen talks tracking error, tech tilts and the challenge of achieving impact in listed equities
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Special ReportThe index revolution: From benchmarking to bespoke solutions
Index providers shift their offering as a wholesale revolution of the industry gathers pace
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Special ReportLimelight falls on ETFs as investors seek better returns
Faced with volatile market conditions, the ETF market has become increasingly attractive. Lynn Strongin Dodds reports
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Special ReportBoom or bust? The state of play for net zero indices
Paris-aligned benchmarks have underperformed recently, driving asset owners to think more about customised and active alternatives
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Country ReportDutch Pension funds see merits and drawbacks in concentrated portfolios
Over the past 15 years or so, the vast majority of Dutch pension funds have largely switched from active management to some form of index investing. But some are now going back to active management and towards more concentrated portfolios.
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AnalysisIPE Netherlands Briefing: PFZW switches to active management
Plus: Caterpillar divestment; French government debt
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NewsPFZW’s shift to active equity strategy leads to termination of BlackRock
The Dutch pension fund for healthcare workers replaced BlackRock, LGIM and AQR with Robeco, Man Numeric, Acadian, Lazard, Schroders, M&G and UBS AM
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NewsGerman national standardisation body awards first OCIO mandate to Berenberg, Lurse
DIN awards first outsourced chief investment officer mandate to Berenberg and Lurse
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Special ReportNorway: A sovereign wealth fund under scrutiny at home and abroad
Besides a review of its active management, Norway’s giant oil fund has come under fire over its investments in Israel
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AnalysisIPE Nordic Briefing: Independent review for active management of Norway’s SWF
Plus: Another Danish pension fund joins partnership to expand the Danish armed forces’ barracks
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NewsDutch public transport fund trims concentrated equity holdings
Pensioenfonds Rail & OV has been running an actively managed concentrated portfolio since 2010, but recent performance has lagged substantially
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NewsNorway launches independent review of SWF’s active management
Academics Trond Døskeland and André Wattø Sjuve of Bergen’s NHH appointed as expert group
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Special ReportEuropean asset management M&A activity surges ahead
Driven by economies of scale and tightening industry cost pressures, more and more European fund managers are on the acquisition trail
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NewsLower-carbon bond portfolios outperform benchmarks, finds research
Analysis findings bring into question the legitimacy of having carbon-intensive corporate credit portfolios as the default, says Ulf Erlandsson, AFII’s founder
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NewsPGB switches to fully passive equity investing
The Dutch multi-sector scheme has concluded it is ‘difficult’ to achieve lasting outperformance in liquid markets
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NewsOslo professor to lead new GPFG panel with active management review role
Karen Helene Ulltveit-Moe picked to chair three-strong SWF council established to help ministry decide how NOK18.7trn fund should be run in future
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FeaturesHow seven European pension funds view active management
IPE asked leading European pension funds for their views on active management, with turmoil in the equity markets and continuing geopolitical uncertainty around the world
