Scapegoats and Self-Interest: Why CIOs Pick the Wrong Managers
Expected future returns are way down the list when considering a new manager, academics have claimed.
News
$4T Investor Group Backs UN Human Rights Initiative
Swedish and Dutch pensions are among a 60-strong group of investors calling for companies to take into account the risks of failing to uphold employees’ human rights.
UK Infrastructure Project Plots Expansion
A collaboration backed by some of the UK’s largest pensions is aiming to roll out more products.
$120B in Assets Signals the Endurance of Activist Investment
But the approach accounts for less than 4% of the $2.8 trillion hedge fund industry, according to sector data.
Pru Splits Latest Mega-Buyout Deal with Competitor
For the first time in recent years, a multi-billion dollar US pension-risk transfer will involve an insurer other than just Prudential.
Aviva Investors Fined £17.6M over ‘Cherry-Picking’ Trades
Two former bond traders exploited “weaknesses” in the asset manager’s systems and controls to increase their take of performance fees.
Swedish Pensions Condemn Reforms after Stellar Year
Public pension executives are still waiting for government action after promised reforms were pushed back.
PE Firms Feel Investors’ Push on ESG Concerns
There are substantial barriers to overcome, particularly in collecting and comparing ESG data, according to a study.
Swedish Local Government Pension CEO to Exit
Lars-Åke Vikberg has run the KPA public pension fund since 2009.
Academic (Ir)relevance
Meet the professor putting research back at the heart of investing—and the asset manager who’s helping him.
Newsmakers
Reports of My Death Have Been Greatly Exaggerated
Hedge funds nearly drowned in 2014, beset by bad news and bad returns. Prepare for a comeback.
NYC Pensions Boost Ethics Reform with New Hires
The $163 billion system has appointed chief risk and compliance officers and an internal auditor.
PIMCO’s Chief Economist Resigns—Again
Paul McCulley is leaving PIMCO for the third time, five months after Bill Gross’ own exit.
Time Heals Performance Wounds (and Makes Investors Pay)
Improving fund performance might be an illusion, academics have found—and one that is being exploited by managers.
Letters to the Editor: February Issue
Abuse for Assistant European Editor Nick Reeve and props on CIO’s coverage of diversity—or lack thereof—in asset management.