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FIS Stanford 2025

When states lose the ability to govern, populism rises

Stephen Kotkin, global geopolitical expert and Stanford academic, has warned that there is an “increasing governability challenge in high-income democracies” where government departments face declining capacity to perform core functions due to complex regulatory systems and bureaucratic tasks. 
FIS Stanford 2025

Inside NBIM’s AI playbook to hone investment edge

Norges Bank is a lean organisation despite managing a $2.2 trillion portfolio. Across the fund’s four global offices, there are only 700 staff, or $3 billion per person, which is why it has made pursuing AI-driven efficiency a core organisation initiative – and a non-negotiable requirement for its employees. 
FIS Stanford 2025

Investors unpack regime-based portfolio thinking 

Funds are operating in an extraordinary environment, with Scott Chan, chief investment officer of CalSTRS, saying he has never witnessed so many “large shifts stacked on top of the other” in his investment career. Amid the change, investors are increasingly shifting to a scenario and regime-based asset allocation.  
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Investor Profile

NZ Super co-CIOs chart TPA vision; hunt for new alpha sources

As NZ Super nuts out growing pains in processes and technology, it has made some recent decisions to change its governance route including appointing two co-CIOs, Brad Dunstan and Will Goodwin, last year. In an interview, they discuss the co-delegation model, the evolution of TPA, and new alpha sources.
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Asset Owner Directory

The Asset Owner Directory is an interactive tool to give readers an insight into the world of global asset owners. It includes key information for the largest asset owners around the world such as key personnel, asset allocation and performance.

Investor Profile
Real Estate

SWIB: Why real estate investors are still talking about the pandemic

The State of Wisconsin Investment Board's head of real estate Jason Rothenberg shares his views on how to address the enduring challenges for office investors. It involves a building-by-building investment approach to avoid assets at risk of conversion or demolition.

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Events
(From left to right): The Future Fund's Tammi Fisher, Blue Owl's Patrick Lawler, and IMCO's Jennifer Hartviksen.
FIS Stanford 2025

Debt beats equity in data centre boom as scarce capital lifts credit yields

Asset owners continue to weigh up the shifting risk-return attributes of the booming data centre sector including deal structures, refinancing, energy requirements, and the future of AI.
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Fiduciary Investors Symposium

This event looks at the challenges long-term investors face in an environment of disruption including ongoing geopolitical risk and shifts in global economy dynamics. By accessing faculty of England’s most esteemed university, this event will leave investors empowered to tackle disruption in their portfolios and working lives.

November 4-6, 2025 | University of Oxford, UK

Fiduciary Investors Symposium

The global economy is increasingly bifurcated between the US, Europe and Asia and how the growth projections and geopolitical risks between these regions plays out is of increasing interest to asset owners. This event looks at the return and impact opportunities in the region, and the importance of Asia in the global economy.

March 24-25, 2026 | Raffles Hotel, Singapore
Sustainability
Opinion

Are we waiting for a superhero to save our world?

Can climate inaction be reversed, or will we keep waiting for someone else to act? Jessica Gao, researcher at the Thinking Ahead Institute at WTW, explores how individuals, investors, and companies can step up to lead the transition - before it's too late.
Podcasts
Podcasts

The world in flux and Trump’s role in a new equilibrium

The second Trump administration has so far brought a lot of things: market shocks, volatile trade policies, and turbulent foreign relationships. But beyond the chaos, renowned geopolitics expert Stephen Kotkin says Trump has an unwitting role to help the world rebalance and reach a “new equilibrium” in the global order.

Fiduciary Investors Podcast Series

Global Pension Transparency Benchmark
Featured Story

Why Norges Bank leads the world in transparency

Norges Bank has taken the top spot again in the Global Pension Transparency Benchmark. But perhaps even more extraordinary than the consistency and continuous improvement, this year the fund was awarded a perfect score of 100. Amanda White spoke to CEO Nicolai Tangen on how the fund improved transparency.
Risk
Investor Profile

AP4: Why a dynamic, shorter term allocation is paying off

Volatile markets have provided a rich hunting ground and opportunistic best ideas have come thick and fast for AP4’s new five-pronged global allocation made up of systematic equity, currency and rates, asset allocation, hedge funds/external mandates and analysis. Magdalena Högberg explains the risks and opportunities of the best ideas allocation.
Asset Allocation
Equities

Future Fund flags expansion of active equity program

Emerging markets, Europe and Japan are all in focus for Australia’s sovereign wealth fund as it looks to ramp up active equities and diversify its exposures, as the fund grows wary of US markets amidst heightened political uncertainty.
Asset classes
News

ACERA eyes global, more active approach for $6.6b equity portfolio

The $13.2 billion Alameda County Employees’ Retirement Association fund is planning a major overhaul of its equity portfolio, shifting from a passive US-focused approach to a more global, actively-managed strategy in an effort to boost returns. The shift will result in manager terminations and searches.