The equities allocation of the Irish National Pensions Reserve Fund fluctuated enormously in 2009 as the fund was directed to by the Minister for Finance to invest €7 billion in preference shares issued by Bank of Ireland and Allied Irish Banks to recapitalise the banks. Amanda White spoke to Eugene O’Callaghan, head of the investment manager program, National Pensions Reserve Fund of Ireland and Adrian O’Donovan, secretary to the NPRF Commission about the events of last year and the fund’s long-term asset allocation plans.
Private equity is ‘train crash’: expert
The collapse of a private equity manager lacks the impact of a hedge fund failure: it’s like a “slow-motion train wreck,” says Chris Hunter, managing director of Cambridge Associates in London. Now that fundraising among private equity managers is down, leveraged finance is scarce and the market for exits is weak, mega-buyout funds are busy … Read more
Going green boosts property returns
Green properties are better financial performers, says of Maastricht University, who recently helped build a global environmental real estate index. But most property managers are either unaware of this dynamic or prefer to talk about sustainability rather than take action. However, some exceptions provide a ‘green’ benchmark for institutional investors in property. Simon Mumme reports.
New private equity head for New York Teachers
The New York State Teachers’ Retirement System has restructured its internal investment team creating a new role of head of private equity, to create five direct investment reports to the executive director, and has already made a number of additional investments in that asset class.
Investors take credit in Say on Pay reform
Investor action through letters and company dialogue has resulted in more than 40 companies in the US, including Goldman Sachs, State Street, BNY Mellon and Conoco, agreeing to implement Say on Pay reform, according to Timothy Smith, senior vice president, Walden Asset Management who recently coordinated a letter signed by investors including CalPERS chief investment officer Joe Dear, urging 17 financial institutions, including Bank of America, to adopt reform.
Dutch pension schemes show relative conservatism
Dutch pension schemes have the highest allocation to bonds, with an average weighting of 48 per cent, while US and UK funds favour equities, according to the 2010 Towers Watson global pension assets study.
