As pension funds face growing pressure to invest more at home, investors face a balancing act between supporting long-term national interests and their fiduciary duties to beneficiaries. Investors call for policy incentives, not mandates, and transparency, not constraints.
Germany’s €70 billion pension provider VBL is increasing its diversification, notably investing in overseas real estate outside Germany for the first time. It's also increasing its tilt to international equities over European stocks, enabled by an organisational and investment process overhaul.
The boom in private credit has been accompanied by a spike in lighter covenants, reducing protection and guardrails for lenders says Jennifer Shum, senior managing director, structured and private credit at HOOPP, and warns of mounting risks in private credit.
In the final part of a column series exploring a new risk management framework, 'risk 2.0', WTW global head of portfolio strategy Jeff Chee outlines what investment professionals of the future need to understand about the commonalities of risk events and the resulting benefits of an interconnected risk mindset.
AIMCo's new CIO Justin Lord explains why he is upbeat about investment opportunities and the fund manager's new governance after a tumultuous few years. Prioritising costs, efficiency and cutting back on direct investments in private equity, he articulates the opportunities ahead including in infrastructure and private credit.
In this regular column from WTW's Thinking Ahead Institute, researcher Andrea Caloisi explores two potential risk events in the future and how a more interconnected risk mindset, or 'risk 2.0', can protect us from them.
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