The design and governance of investment management institutions is actually more important than honoring the principle of fiduciary duty which, claims Gordon Clark, a professor at Oxford University and author of a new academic paper.
The Louisiana Municipal Police Employees Retirement System, which invests in JP Morgan, has sued the bank claiming breach of fiduciary duty by its directors.
In the latest example of institutional investors turning to large private equity firms for their expertise in more complex investments, Kohlberg Kravis Roberts (KKR) and Apollo Global Management are set to manage $6 billion for the Teacher Retirement System of Texas' (TRS).
A new report by Hedge Fund Research shows that within the hedge fund universe, equity hedge leads the industry while macro funds decline.
Performance of institutional assets was negative for the third quarter, with foundations and endowments hit hardest by market declines, according to Wilshire.
As institutions increasingly seek to mitigate volatility in their portfolios, new investing strategies such as risk parity and low-volatility equities gain prominence. Consultants, however, remain skeptical.
While Australia has ranked by many measures as having the strongest pension system globally, its super funds have suffered losses due to market volatility.
Following a report by consulting firm Mercer that ranked the pension system of the United States in tenth place, a new analysis by Allianz Global Investors (AllianzGI) shows that Greece is under the most pressure to reform while the Australian pension system ranks as the best.
Preliminary data released by the Commonfund Institute and the National Association of College and University Business Officers (NACUBO) has found that for the 2011 fiscal year (July 1, 2010 to June 30, 2011), institutions’ endowments in the United States returned an average of 19.8%.