April 2021
12Apr

World’s Top Pension Fund Treads Water as ESG Picks Up Pace

After taking over the helm of the world’s biggest pension fund in 2015, Hiromichi Mizuno helped chart a course that not just made sustainable investing big in Japan, but also raised the strategy’s global profile. Read also UK. Pension Superfunds: Bright Future or Flash in the Pan? The Government Pension Investment Fund’s former chief investment officer sidestepped public bemusement and criticism at home, as he sought to turn GPIF into a fund that -- as one Harvard Business Review article put...

April 12, 2021
News, Slider, , ,
Read more...
08Apr

Robert C. Merton and the Science of Finance

By Zvi Bodie Starting with his 1970 doctoral dissertation and continuing to today, Robert C. Merton has revolutionized the theory and practice of finance. In 1997 Merton shared a Nobel Prize in Economics “for a new method to determine the value of derivatives.” His contributions to the science of finance, however, go far beyond that. In this essay I describe Merton’s main contributions. They include the following: 1. The introduction of continuous-time stochastic models (the Ito calculus) to the theory...

April 8, 2021
Articles, System Sustainability, ,
Read more...
07Apr

Australia. Dutch pension giant boosts local exposure with $350m EG investment

Dutch pension giant PGGM doubled down on its investment in Australian commercial real estate, putting $350 million into a diversified fund managed by EG less than six months after entering into an $800 million partnership with Charter Hall. PGGM joins four other investors in the open-ended diversified EG Australian Core Enhanced Fund (ACE) which in the past two years has spent $234 million on three industrial properties, a Bunnings near Sydney Airport and a Perth office tower. Read more @Financial Review 504...

April 7, 2021
News, Slider, , , , ,
Read more...

March 2021
24Mar

Exclusive Coverage: CIOs Assess How Pension Fund Investors Can Be Successful After COVID-19

Strong governance, flexibility over benefit structures, clever investment strategies, and maintaining savvy relations with investment trustees are among the best practices that can help pension funds do well in the post-pandemic era. A panel of four allocators and consultants discussed solutions in CIO’s virtual conference “Inside the Minds of CIOs.” Speakers included pension investment chiefs from Maryland and New Mexico, as well as leaders from Backstop Solutions and Insight Investment. Public pensions face any number of challenges to deliver good returns....

March 24, 2021
News, Slider, , ,
Read more...
23Mar

UK. Pensions dashboard roll-out in 2023 ‘under threat’

The target date of 2023 for the roll-out of the pensions dashboards is under threat from a lack of clarity, the Society of Pension Professionals has warned. The lack of clarity and complexity of the dashboard roll-out is such that it might be impossible to provide some savers with a "single number" for their benefits. Read also UK. Emerging passive investing risks a new concern James Riley, president, and Paul McGlone, immediate past president, wrote to the Pensions Dashboards Programme detailing a list...

March 23, 2021
News, Slider, , ,
Read more...
17Mar

Pension Fund Managers: PFRDA Board clears licence award under new framework

Most of the ten applicants may get licences in the latest round The Board of the pension regulator, Pension Fund Regulatory and Development Authority (PFRDA), has given its approval to award licences to pension fund managers under its recently floated Request for proposal (RFP), for selection of sponsors of pension funds for National Pension System (NPS). Read also Virus exacts toll on women’s retirement savings, workplace diversity efforts – panel It may be recalled that as many as ten applicants, including new...

March 17, 2021
News, Slider, , ,
Read more...
16Mar

Australia pensions ink deal to create $208.5 billion mega fund

Two of Australia's largest pension funds moved a step closer to creating a A$200 billion (S$208.5 billion) giant as the world's fourth-biggest pension pot consolidates. Read also Italy. Pension funds seize first Italian green bonds offering Super and Sunsuper have signed a deal to merge, the two funds said in a joint statement on Monday (March 15). The Brisbane-based funds will combine by September. Read also Too much, or not enough: the risks of drawdown "This historic agreement will pave the way for...

March 16, 2021
News,
Read more...
09Mar

Banks, pensions, and sovereign funds fail to achieve gender balance, finds OMFIF

By Madeleine Taylor Less than 1 per cent of central banks, sovereign funds, public pension funds and commercial banks have achieved gender balance within their workforces, according to a comprehensive survey by Official Monetary and Financial Institutions Forum (OMFIF). Think tank OMFIF surveyed 540 institutions on gender diversity among senior staff, and found only three that had achieved perfect scores for gender balance among their senior staff, while another 12 were “close to achieving balance”. The three highest ranking institutions were US...

March 9, 2021
News, Slider, , , ,
Read more...
05Mar

OECD proposes revision of its DC ‘good design’ roadmap

The Organization for Economic Cooperation and Development wants public input on a new roadmap for good design in defined contribution plans. Read also E.U. Pushes Companies to Close Gender Pay Gap The OECD and its Working Party on Private Pensions updated the OECD Roadmap for the Good Design of Defined Contribution Retirement Savings Plans to incorporate recent revisions. The roadmap identifies good design and public policy to help countries to strengthen retirement income adequacy. The initial guidelines were agreed on in...

March 5, 2021
News, Slider, , ,
Read more...
04Mar

How Covid-19 revealed under-appreciated risks

“Only when the tide goes out do you discover who’s been swimming naked,” legendary investor Warren Buffett once said. While few portfolio managers anticipated the sheer speed and force with which the waters receded during Covid-19 – or the swiftness of their return, the impact of the pandemic made clear that potential risks exist that may not have been seriously appreciated before. Read also Covid-19 Is Most Certainly A Retirement Story The coronavirus crisis sparked a “huge realisation of how risks in...

March 4, 2021
News, Slider, , ,
Read more...