The trend towards the use of strategic partnerships by large US public pension funds is paying off, with the Teacher Retirement System of Texas claiming its program of a committed $4 billion produced returns of 7.3 per cent for the year to the end of September, well above expectation.
The giant Danish fund ATP has earmarked €1 billion to a climate change action fund, deliberately timing the launch of the commitment to coincide with the UN conference in its capital, Copenhagen. Amanda White spoke with chief investment officer of ATP, Bjarne Graven Larsen, about how the fund is using its sizeable capital to incite political action, and how it plans to allocates the funds alongside other investments.
The C$41 billion ($38 billion) Public Sector Pension Investment Board plans to bring more assets in house in a bid to lower costs, and will increase the number of direct investments to increase control, the chair Paul Cantor said at the annual public meeting.
CalPERS and CalSTRS have collaborated to build a network of more than 150 individuals from a diverse pool of sources to act as potential candidates for nomination to corporate boards, as CalPERS’ consultant advises it to synchronise proxy votes between internal and external portfolios.
Investors can learn a thing or two from the human foibles displayed by Tiger Woods, according to new research by academics at the Wharton School of the University of Pennsylvania. The research refers, however, to his tendency to be too risk-averse when ahead for a putt, rather than his recently exposed sexual escapades. Woods and his fellow leading golfers in the world unnecessarily forego about one stroke per 72-hole tournament, which equates to a combined loss of $1.2 million in prize money for the top 20 golfers.
CalPERS has appointed a lead infrastructure consultant from its list of four shortlisted candidates that included Meketa Investment Group, Pension Consulting Alliance, RV Kuhns and Wilshire, with the appointed consultant offering a reduced fee structure as part of its contract.