Investment Strategies – Page 26
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Asset Class Reports
Hedge Funds: Angling for alpha: pension funds talk hedge funds
When he isn’t managing the alpha traders at Denmark’s state pension fund, ATP Alpha CEO Fredrik Martinsson likes nothing better than to get out with his rod and line – so it’s no surprise that he reaches for an angling metaphor to explain his understanding of alpha.
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Special Report
Asset Allocation: Slow and steady
They are not racy or sexy and they are certainly not the next hot thing. But Peter Taberner finds that ‘high quality’ equities might suit investors’ jaded palettes
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Special Report
Asset Allocation: Just got bigger
Euan G Munro discusses structural changes to the role of asset allocator and asks whether they should be empowered with further responsibilites within the investment process
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Special ReportAsset Allocation: Raincoat and sunglasses
Today’s distorted and correlated markets confound asset allocation. Martin Steward asks when normalisation will be restored, and how to manage the transition
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Features
AP1 gets tough on global custody
In the wake of the crisis, the giant AP1 is looking for a new global custodian and is setting stringent operating conditions. Iain Morse reports
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Features
Finns juggle political hot potato
The 2011 general election in Finland could mean the end of the Loppu system. Iain Morse reports
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Asset Class ReportsGlobal Equities: History lesson on risk
Real stock market returns reveal the true frequency of ‘once in a century’ crashes,says Paul Kaplan
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Asset Class ReportsGlobal Equities: Towards true diversification
Yves Choueifaty, Tristan Froidure and Elizabeth Breaden wonder why the dynamic strategy implied by cap-weighted indices is regarded as ‘passive’ and posit their ‘anti benchmark’ portfolio as a true proxy for the equity risk premium
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Interviews
The lion that’s finding its courage
The nightmare for any fund management firm is losing key managers whose clients follow them out of the door. It can tear apart a firm’s credibility, leading to further fund outflows and a further loss of credibility – a ‘death spiral’ that can demolish once mighty firms.
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Special Report
SRI conquers non-equities territory
The emergence of new types of SRI strategy is a major factor in driving the market as Eurosif’s 2010 European SRI study highlights. Nina Röhrbein reports
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Features
Cashflow kings
Any long-term investor should be a dividend investor, notes Lynn Strongin Dodds. But the rules of the game are changing
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Interviews
Bridges to somewhere
Mark Weisdorf knows a thing or two about how and why pension funds invest in infrastructure assets. Before joining JP Morgan Asset Management (JPMAM) to set up its infrastructure investments group in 2006 he developed the real estate, private equity and infrastructure strategies for the Canada Pension Plan Investment Board’s CA$130bn (€92bn) portfolio, experience that led to his founding Mark Weisdorf Associates, a consultancy dedicated to advising institutional investors on their allocations to these asset classes.
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Asset Class Reports
Global Equities: Breaking the constraints
Joseph Mariathasan finds that while modern portfolio theory and orthodox strategies can serve investors and fund managers well, there can be greater rewards for those willing to step away from convention
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Asset Class Reports
Global Equities: World betas
Stock-specific risk dominates equity returns, finds Sudhir Nanda. But stockpickers should be aware that the contribution of systemic factor risks varies significantly across regions, sectors and time
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Special Report
Inflation Assets: The Eternal Coin
In an age when plastic and digital forms are taking over the role of money, a coin that never loses value could be the solution to a lifelong problem, write Malcolm Cooper, Ian Harris and Michael Mainelli
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Special ReportInflation Assets: Timber
Investors recognise the inflation-hedging properties of timberland. Martin Steward asks whether it can be managed for regular inflation-linked cash flows
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Special Report
Inflation Assets: Intricacies of infrastructure
Infrastructure can offer some inflation protection, but pension funds must know what they are doing, writes Maha Khan Phillips
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Special Report
Inflation Assets: Safe as houses
Martin Steward looks at some alternative real estate-related cash flows for their inflation-sensitivity and minimal exposure to capital value volatility
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Special ReportInflation Assets: The great divide
Anthony Harrington surveys competing views on the direction of inflation and bond yields
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Special Report
Inflation Assets: Infrastructure coming of age
Infrastructure assets are a great fit for pension fund portfolios, argues Danny Latham, but the sector needs more standardised risk and performance measures
