The Inconsistent Contrarians
Research indicates that pension funds are much better at buying low than they are at selling high.
Asset Allocation
AIG Dropping Half Its Hedge Fund Portfolio
The $343 billion insurance fund has so far submitted notices of redemption for $4.1 billion.
Private Equity vs. Hedge Funds: A Battle of Expectations
Investors had “more ambitious return targets” for private equity than hedge funds, but were under-allocated to the asset class, according to Preqin.
SWFs ‘Not to Blame for Equity Crash’
An independent think tank claims sovereign wealth funds are unlikely to have been forced sellers.
How to Build Smart Beta 2.0
Tilting an already tilted portfolio can result in higher active share as well as better factor combinations, according to Morningstar.
Public Pensions Still Hungry for Hedge Funds
In choosing to liquidate their hedge fund portfolios, CalPERS and NYCERS are the exception, not the rule, according to Preqin.
La Caisse and CalPERS Undertake Strategy Reviews
The Canadian fund has created a new infrastructure subsidiary while the US’ biggest pension is reorganizing its real assets investments.
NYC Pension To Liquidate Hedge Funds
The $55 billion public plan blamed high fees and underperformance for unwinding its $1.7 billion hedge fund portfolio.
Bond Allocations Hit Record High Despite Low Yields
UK pensions hiked their exposure to fixed income last year in the face of low—and in some cases negative—yields.
Private Equity LPs Demand Transparency on Performance, Risks
Investors want to know more about the underlying assets in private equity portfolios, according to State Street.
Parametric: Don’t Give Up On Emerging Markets Yet
Despite recent negative returns, emerging market equities are more attractive than ever, according to Parametric’s Tim Atwill.
Pension Herding Has ‘Broken Up,’ Says Russell
Corporate funds have stopped copying from their neighbors—most of the time.
NJ Pension Asked to Switch Back to 60-40
The state AFL-CIO chapter presented a plan to drop its alternatives investments and revert to a “responsible, traditional allocation of stocks and bonds.”
Hedge Funds Post ‘a Trickle’ of Inflows
New capital hit just over $4 billion last month, a fraction of the average of $23 billion over the last six Februaries, eVestment reports.
Another Rockefeller Fund Divests from Fossil Fuels
The Rockefeller Family Fund also singled out ExxonMobil, whose stocks it liquidated “effective immediately.”