The publication of the APRA Heatmap has caused a fair amount of criticism, ranging from interpretation of metrics to large scale market distortion. Is this simply a matter of people resisting change or is there more going on?
Which articles do you think were most read during the year? The answer might surprise you.
CalSTRS portfolio manager Carrie Lo looks back on how markets tested the risk mitigation model. But the US pension fund stuck with it and has now expanded the strategy, adding systematic risk premia strategies to the portfolio.
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.