AQR has always questioned the merits of factor timing, stating it is too difficult to do consistently well. But valuations have now become so irrational that even they believe a skew towards value is warranted. It is time to sin a little.
With an older member base, TelstraSuper can’t rely on inflows to fund new real estate purchases. “I have to sell something to buy something, so I need to be very disciplined,” says Head of Real Assets Miriam Patterson.
The unique characteristics of Cbus members make life-cycle and annuity strategies less attractive to them, the pension fund’s chief executive said at the inaugural [i3] Pensions Portfolio Forum.
Determining the true expression of a factor is difficult, but a factor should give an investor something that traditional asset classes don’t, Janus Henderson’s David Elms says.
In mathematics there are problems that can be expressed but not solved. Do financial markets represent such problems?
New Zealand Super’s strategic tilting program has added significant value to its portfolio and now it is ready to add a new asset class to its framework.
Digital disruption is not just a challenge, but also an opportunity. Real estate firm Actis is playing into this dynamic with the development of large data centres in China, South Korea and potentially India.
HESTA’s real estate portfolio plays an important role in executing the fund’s impact investment strategy, Florence Chong writes.
Australian superannuation funds face some of the steepest trading costs in the developed world. Controlling these costs is critical to deliver good outcomes for members, Raewyn Williams writes in a new research paper.