Strategy
Get the latest news on pension fund and investor strategies, plus in-depth analysis of industry successes and tactical U-turns
Latest news
Skandia stows $100m in Dutch-backed sustainability blended-finance fund
Swedish pensions firm praises ‘innovative’ structure of SDG Loan Fund for easing flow of institutional money to developing countries
ATP boasts that its strength allows 3% uprating, but for pensioners only
Manager of Denmark’s statutory scheme admits latest discretionary annual increase is well below the 10% inflation Danes had to cope with in 2022
Norway’s SWF sets out plan to become $40-70bn private equity investor
Tangen says now is very good time to start building private equity portfolio, with discounts available in secondary market
Sudden exit for Alecta’s legal chief as troubled giant gives legal more focus
Swedish pensions firm announces reorganisation aimed at clarifying division of responsibilities
ABP is too big to be an active investor, says president
The Netherlands’ largest pension fund is switching from an all-active investment strategy to index investing
Viewpoint: Why we closed Net Zero Now to new employers despite its popularity
A change in the consensus around the role of offsetting to achieve net zero was one consideration, explains UK master trust Cushon’s director of policy and research
Netherlands pensions report 2023: Dutch funds plot move back into active investing
Several large Dutch pension funds are planning to move back into active management while others choose to go passive and further tweak their indices. But these two trends are not as contradictory as they may seem
Dutch pension funds evaluate member benefits and portfolio changes ahead of the transition
Early movers in the transition to a new Dutch pension system believe members could gain better benefits than under the old system
Iceland’s LV: Coping with disruption
Arne Vagn Olsen, CIO of Lífeyrissjóður verzlunarmanna (LV), Iceland’s Pension Fund of Commerce, talks to Carlo Svaluto Moreolo about strategy and the prospects for financial markets
ABP is too big to be an active investor, says president
The Netherlands’ largest pension fund is switching from an all-active investment strategy to index investing
Analysis: UBS/Credit Suisse pension funds merger
To protect beneficiaries of both pension schemes, a precondition for the merger is that the pension funds have at least in principle an ‘equal’ funding ratio
India forms cornerstone of GIC’s BRIC portfolio
The Singaporean sovereign wealth fund has invested billions in the subcontinent since the 1990s and considers the country under-invested
Fossil fuel divestment is back in fashion
More and more asset owners are exiting oil and gas. Sophie Robinson-Tillett speaks to some about why, and how, they’re selling out of the sector
Analysis: Disagreements abound over pension funds’ climate scenario models
USS wants more ‘useful’ ways of assessing climate pathways, while experts at UK pension regulator tell funds to challenge consultants on current results
ABP is too big to be an active investor, says president
The Netherlands’ largest pension fund is switching from an all-active investment strategy to index investing
Swedish agency outlines next €17bn of premium pension tenders
FTN flags first index categories as next two procurements at end 2023 or early 2024
Active management is back on the menu for US pensions
Rising rates and market volatility are forcing US pension funds to rethink their approach to passive and active investing. They are realising that their US stock portfolios are not diversified enough to help protect against a correction. But change may not come so fast.
NBIM’s active management limits SWF’s portfolio-wide Q3 loss
Value of Norwegian GPFG falls back on negative investment returns and falling krone
Mercer report reveals asset owners set to increase private markets allocations
Large asset owners confident their portfolios remain resilient despite market turbulence
Swedish agency outlines next €17bn of premium pension tenders
FTN flags first index categories as next two procurements at end 2023 or early 2024
Active management is back on the menu for US pensions
Rising rates and market volatility are forcing US pension funds to rethink their approach to passive and active investing. They are realising that their US stock portfolios are not diversified enough to help protect against a correction. But change may not come so fast.
Publica tenders €2bn in corporate bonds mandates via IPE Quest
Tender is for two passive or enhanced passive corporate bond mandates – one for European and the other for US bonds
Swedish funds agency to announce winners of first tender end Q1 2024
As the 5 October deadline passes, new premium pension procurement body starts evaluating tenders
Smart Pension seeds new split voting low carbon fund with £550m
New fund is first using service unveiled by AMX and DWS last year
European investors remain sceptical on artificial intelligence impact, Invesco finds
A majority of North American and Asian investors believe, however, that traditional methods for investment analysis will be overshadowed by AI applications
Did smart beta go ‘horribly wrong’?
In 2016, we published a paper titled ‘How can ‘smart beta’ go horribly wrong?’, the first in a series on the future of factor investing and other forms of so-called smart beta. Did smart beta go horribly wrong? Yes and no.
Smart beta pioneer reignites debate on factor timing
Research Affiliates founder Rob Arnott finds ‘most factors look very cheap’ in a new paper highlighting the attractiveness of many equity factor strategies
Britain’s LDI crisis: When things nearly fell apart
On 23 September 2022, Kwasi Kwarteng, the then UK chancellor of the exchequer, announced a £45bn (€52bn) package of tax cuts. The hand-outs, designed to please key voters, were the wrong gift at the wrong time. For several years, the Bank of England had been attempting to end quantitative easing and start putting a higher price on borrowing.
Cambridge and Westminster: a tale of two pension schemes
The Houses of Parliament and Cambridge University are two venerable British institutions. But the differences in how they run their pension arrangements illustrate the contrast between the UK-style pooled liability-driven investment (LDI) and a more traditional form of pension investing, no longer as popular in the UK but still common elsewhere.
EIOPA says national supervisors need more data on liquidity risks
European pension funds, insurers holding up well despite higher stability risks, says latest risk report from EU pension and insurance watchdog
Case study: Caja de Ingenieros Gestion - The rise of smart beta
The Spanish pension provider Caja de Ingenieros Gestion serves more than 215,000 members, predominantly from the Spanish engineering sector, using an investment style based on independent analysis, with a bottom-up approach.
Smart beta pioneer reignites debate on factor timing
Research Affiliates founder Rob Arnott finds ‘most factors look very cheap’ in a new paper highlighting the attractiveness of many equity factor strategies
Viewpoint: Alternative risk premia strategies stand tall amid turmoil
While bond and equity markets have been pummeled in 2022, Alternative Risk Premia strategies have at last been able to demonstrate their diversification prowess. Will this year’s performance restore investor confidence in these strategies after the painful results of 2020?
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