TPA: Built on essentials, shaped by levers
As asset owners grapple with the appropriateness of a total portfolio approach for their fund, new ICPM research has outlined building blocks to be considered in the process including some essential “enablers”, like governance structures, and optional “levers”, like incentive architecture. ICPM managing director Adrian Trollor unpacks the framework.
PGGM: Impact begins at home
PGGM is preparing to build out the third element to its impact strategy targeting biodiversity. By focusing on food and the circular economy, PGGM aims to create most impact at home. Top1000funds.com looks at the fund’s impact journey.
Why traditional investment committees can amplify group biases
Investment committee meetings, a governance cornerstone at every asset owner organisation, run the risk of amplifying group biases and social dynamics, and can push the IC towards recommending more extreme investment positions collectively than the average of their individual views. Bernhard Scherer, head of portfolio implementation at ADIA, unpacks the thesis in a new paper.
NZ Super cuts benchmark return expectation on US valuation concerns
A view that the US stock market is overvalued and equity risk premia will be lower over the long term has driven New Zealand Super to lower the return expectations for its reference portfolio following its recent five-yearly review of the benchmark. Co-chief investment officer Brad Dunstan also flags underweight commodity exposure as an area to address and explains why the fund remains sceptical of illiquidity premia despite seeing a growing case for private markets.
Why Australia’s super funds continue to engage with Washington
Australia’s fast-growing superannuation funds are increasingly allocating capital into US infrastructure, but success will rely on navigating an unpredictable federal policy environment and a patchwork of skeptical state governments.
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.
| Fund Name | Country | AUM ($B) | Articles | More Info |
|---|---|---|---|---|
PGGM / PFZW | Netherlands | $298 | 120 | View Info |
Elo Mutual Pension Insurance Company | Finland | $28 | 5 | View Info |
State Teachers Retirement System of Ohio (STRS) | United States | $103 | 3 | View Info |
PMT Pensioensfonds Metaal & Techniek | Netherlands | $92 | 6 | View Info |
How CPP is evolving risk management for a faster, more interconnected world
In an environment where multiple risks are emerging and their effects are compounding on the portfolio, CPP Investments’ chief risk officer Priti Singh says the $572 billion fund is rethinking risk management from the ground up, shifting from reaction to preparation and embedding risk thinking earlier in investment decisions. She speaks to Amanda White about the fund’s risk approach.
Impact investing’s case for scale
Impact investing has come a long way in the past two decades, going from a niche strategy to a $1.5 trillion industry, but there are still challenges for it to reach institutional scale due to the lack of products and insufficient evidence of outperformance in some parts of the market.
Fiduciary Investors Symposium
The Fiduciary Investors Symposium at Stanford University celebrates the fast-moving change taking place in economies and communities and will examine the impact of innovation on our lives, workplaces and investments.
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.
La Caisse’s oil exit pays off as renewables portfolio pulls ahead of fossil fuels
Divesting from the oil sector has been a boon for La Caisse’s performance, as the Canadian pension giant says its energy investments have earned billions in value-add compared to the benchmark since the inception of its climate strategy. Head of sustainability Bertrand Millot unpacks the fund’s approach in an interview with Top1000funds.com.
Why Asian equities’ growth will outlast the AI-driven semiconductor cycle
In the latest episode of the Fiduciary Investors Series, Liao spoke with Top1000funds.com Asia Pacific correspondent Darcy Song on why the convergence of innovation, demographics and improving shareholder returns makes Asian equities an increasingly compelling diversification trade for asset owners navigating a geopolitically fractured world.
CPP Investments, NBIM reflect on lessons from a 5-year transparency journey
The Global Pension Transparency Benchmark has been a driving force in improved transparency of disclosures and reporting among global asset owners. As the project comes to its close after five years, two leading funds reflect on why transparency has been a clear focus for their organisations.
Falling dollar dents Canadian pension returns; triggers hedging rethink
A weakening US dollar has eaten into the returns of Canada’s largest pension funds as annual reports revealed the currency shock forced a fundamental rethink from some investors around hedging practices. OMERS has pivoted from a policy hedging target to a more flexible approach fulfilling multiple objectives, while OTPP more than halved its US dollar exposure in 2025.
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Long term lens shields Colorado from private credit jitters
As concerns in private credit mount, Colorado PERA CIO and COO Amy McGarrity says the pension fund isn’t seeing any strains in its growing allocation to the asset class, arguing that long-term investors are shielded from the risks because they can lock up their capital to weather market cycles.
Nest favours institutional-first managers as retail exodus pressures private credit
Nest, the largest workplace pension in the UK, says that private credit managers who prioritise institutional clients will be more favourably viewed. The £61 billion ($82 billion) fund has awarded a £450 million ($605 million) US direct lending mandate to Crescent Capital this month, citing the manager’s institutional-client-first approach as a key attraction.
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