The $71.9 billion Mass PRIM pores over the numbers to be sure it pays active managers only for skill. That's just one way it uses intense analysis to deliver.
Hiro Mizuno, CIO of the world's largest investor, told the CFA conference that in exchange for multi-year commitments its mandates would now claw back fees when firms don't reach alpha targets.
Many active managers in Canada were able to exceed a passive benchmark return by 50-100 basis points, net of fees, for the decade ending December 31, 2016, Russell Investments research has found.
Texas Teachers has made extensive changes to its equities portfolio, increasing risk premia, reducing active management and applying new strategies developed by the fund’s research arm.
The Canada Pension Plan Investment Board has increased its focus on emerging economies, using active management to access local expertise and maximise its advantages of scale.
Australia’s sovereign wealth fund has revamped its equities portfolio to take on deliberate factor risk and target idiosyncratic risk. The fund’s head of equities, Björn Kvarnskog, explains.
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