The Yale endowment has a substantial and growing exposure to green investments with allocations in timberland, emerging markets and venture capital including more than $100 million in cleantech.
OMERS’ new CIO to focus on in-house management
Bringing externally managed funds under the guidance of the internal investment team is a key component of OMERS’ growth plans, with the fund moving to having more direct control over its investments, according to new chief investment officer, Michael Latimer.
The hidden risks of risk parity portfolios
The benefits of risk parity portfolios are largely an illusion and contain hidden risks such as confusing volatility with risk and including asset classes that have significant negative skew, which combined with leverage could be painful for investors, according to director of asset allocation at GMO, Ben Inker.
Performance-based pay should be abolished: ICGN
Non-executive directors’ pay should consist solely of a combination of a cash retainer and equity-based remuneration, according to the International Corporate Governance Network’s new guidelines for non-executive director pay crafted over the past several years in consultation with, and on behalf of, many of the largest global shareowners.
Abu Dhabi fund doubles revenue in 2009
Abu Dhabi’s (AED88.5) $24 billion strategic investment arm, Mubadala Development, reaped nearly twice as much revenue from portfolio companies in 2009 than in the previous year.
High FX costs drag on returns
Higher than expected foreign exchange transaction costs can result in a long-term return drag on a portfolio of up to 2 per cent over 40 years according to new research by Russell Investments, which urges investors to review and measure foreign exchange costs.
