Chris Brits的动态

In High Street’s most recent engagement with?EBnet, we reimagine a new approach to retirement for South African investors and those who work in Employee Benefits. ? Read the full article here or join us at Meet the Managers 2024. ? #Regulation28 #Retirement #WealthManagement #TopFunds #InvestmentTrends #MeetTheManagers2024 #EmployeeBenefits

Fantastic to see the NEW YORK STATE COMMON RETIREMENT FUND up its allocation towards sustainable investment from 20 to 40B USD among other key announcements, as written up by the previous NYS Comptroller Tom Sanzillo of Institute for Energy Economics and Financial Analysis (IEEFA) as below. The team at NYS Common have been leaders in a number of areas, and for a long time under the commendable oversight of the Office of the NYS Comptroller Thomas P. DiNapoli. The one recommendation we made in 2019 that they haven't quite managed to implement (yet) is going 100% sustainable, but these steps taken this week are meaningful steps forward and to be commended, placing the fund amongst global leaders in so far as new sustainability focused commitments are concerned. On top of recent allocations to climate solutions by the likes of the State of Oregon (and even the Alberta retirement system!), more such demand leads to more supply by asset managers, such as the recently closed 10B USD Brookfield Asset Management's latest climate/climate transition fund. This is why teams are ramping up at investment institutions, more demand creates competition for more supply, and more supply creates meaningful and necessary progress (and yes, there are something like 50,000 open climate jobs in the US at present, per my post yesterday https://lnkd.in/dxJjMKiK, so all of this also creates employment opportunities throughout the economy as well as increased job security for those involved, versus legacy jobs that are only more vulnerable to the rounds of layoffs occuring and that will occur going forward - hence you'd love to see this dynamic happen more in Europe and around the world as well). A key question as a result becomes: Are increased allocations to sustainable investment the best way asset owners can enable "just transitions?" Also love to see their minimum standards work being deployed, a key part of our 2019 recommendations, resulting in the selling off of fossil fuel companies deemed to be "not transition ready" - and similar/related steps regarding Private Equity - this is how you bake divestment into any investment process, seeing this deployed across asset classes would seem a reasonable next step for any investor Minimum standards in action is what Bevis Longstreth, former SEC commissioner and another member of our panel, said at the time was "better than divestment." Love to see it https://lnkd.in/d7J8_THy.

【Big US pension fund capital for Japan real estate fund】 A Japan-focused fund of the US asset manager BentallGreenOak has secured a 100 million dollars commitment from the pension system in Michigan, pulling off a rare feat as many US state retirement plans slow their pledges to Asia Pacific real estate vehicles. BentallGreenOak Asia (USD) IV excludes mainland China and India and concentrates on Japan’s office, logistics, residential and hospitality sectors, according to meeting minutes released by the State of Michigan Investment Board, writes the real estate journal Mingtiandi. The State of Michigan Retirement System’s real estate portfolio exceeds 8.9 billion dollars in market value, with infrastructure investments bringing the total to more than 9.8 billion dollars. The pension plan previously backed BentallGreenOak funds targeting European real estate and US cold storage. Miami-based BentallGreenOak managed 82 billion dollars in assets as of March and has invested at least 700 billion yen (4.4 billion dollars) in Japan over the years. The fund manager snapped up Tokyo’s Avex Building, the headquarters of entertainment conglomerate Avex Group, for 72 billion yen at the end of 2020 and acquired the Rihga Royal Hotel Osaka for an undisclosed price believed to be at least 50 billion yen in early 2023. https://lnkd.in/g7qvfyaP

A Solution to Externalise Retirement Savings Beyond South African Shores https://lnkd.in/dUkCd6Zn Christopher Brownlee, CFA Head of Research, High Street Asset Management Regulation 28 of the Pension Funds Act 24 of 1956 (“Regulation 28”), while designed to manage concentration risk within retirement portfolios, also places constraints on South African investors' exposure to international markets. The current limit of a 45% direct offshore allowance means that 55% of investors' retirement savings must be allocated locally. However, the current domestic landscape presents challenges in achieving attractive returns when benchmarked to a global standard. Beyond persistently weak economic growth over the past decade, there are several other contributing factors...

CFA Society Switzerland issues best practice recommendations for pension fund management ? Zurich, 6 May 2024 ? In its best practice “Position Paper on Investment Governance at Swiss Pension Funds”, CFA Society Switzerland issues recommendations in terms of investment governance, addressing both roles and responsibilities as well as management of potential conflicts of interests. With these recommendations, society aims to elevate the standards of the investment profession locally, ensuring the resilience and sustainability of pension funds for generations to come. Mirjana Wojtal, PhD, CEO of CFA Society Switzerland, comments:?“CFA Society Switzerland firmly believes that the best practices outlined in this paper serves as valuable resources for pension funds across Switzerland, fostering an environment of improved investment decision-making and operational efficiency. It is our intention to help the Board of Trustees and the pension fund management to address challenges they may face, to ultimately ensure the financial security of current and future beneficiaries.” The society would like to thank the authors of this paper for sharing their valuable knowledge and expertise. ”Position Paper on Investment Governance at Swiss Pension Funds” in English, German, French and Italian is available for download?here: https://lnkd.in/ezm4exQH

Pension funds can contribute to a more sustainable, gender-equal future. https://lnkd.in/gw6Gy9B8 “We noticed a lot of members or plan sponsors are more aware of the impact their money can have and they don’t just want their investments to grow, they also want them to make a positive difference,” says Thomas Yuk, iA Financial Group (Industrial Alliance). Reporting by Mallory Hendry in HRD Canada. Australian Retirement Trust, CPF Board, Ontario Teachers' Pension Plan, Hostplus, Universities Superannuation Scheme (Ltd), NGS Super, The Public Institution for Social Security, Pension Protection Fund, State Super (SAS Trustee Corporation), Alberta Pensions Services Corporation (APS), Teacher Retirement System of Texas, CalPERS, United Nations Joint Staff Pension Fund (UNJSPF), LifeGoals Financial Services Limited, Stichting Pensioenfonds PostNL #ESG #pensionfunds #responsibleinvestment

New Position Paper Release: Alternatives under the Pension Reform I'm pleased to share the position paper "Development of a blueprint to ease the transition under the new pension fund reform for alternative investments". Since July 2022, a working group within CFA Society Netherlands , spearheaded by Hanneke Veringa, has been crafting recommendations to address the challenges posed by the new pension fund reform and ease the transition for investments in alternatives. Thanks to the dedication of Thomas Cornelissens, CAIA, FDP, Yno van Haaster, CFA, CAIA, Evelien V., Daan Horsthuis, Jeroen Kakebeeke, Frederik Mannaerts, CFA, Gerard Moerman, Anton Reijinga, Reinout van Tuyll van Serooskerken, CFA, CAIA and not in the least Hanneke Veringa, we've developed actionable insights on portfolio construction, liquidity, and valuation. A huge thank you to everyone involved for your hard work and expertise. Stay tuned for updates as we continue shaping the future of investments in alternatives! #professionallearning #alternativeinvestments #pensionreform #continuingeducation #privateequity #privateassets #alternativeassets ?

For professional clients and qualified Investors only. ?? Sustainability and Pension Funds: A Strategic Asset Allocation Perspective ?? In the realm of pension funds, the integration of sustainability into strategic asset allocations (SAA) is not just a trend, but a necessity for achieving risk-return objectives. Despite its importance, the connection between sustainability considerations and SAA has been surprisingly overlooked. Willem Schramade, our Head of Sustainability Client Advisory, delves into this critical issue in his latest article. He highlights how sustainability considerations, once peripheral, are now becoming central to the investment beliefs and strategies of forward-thinking pension funds. From adopting single materiality perspectives, where ESG factors are recognized for their financial impact, to embracing double materiality approaches that seek to influence positive outcomes for society and the environment, pension funds are on a transformative path. Yet, the journey is not without its challenges. Integrating sustainability into SAA involves navigating complex bottlenecks, such as imperfect long-term models on climate risk and the need for strategic-level initiative beyond the confines of manager selection teams. The article sheds light on these challenges and offers insights into how pension funds are beginning to address them, moving from mere aspiration to actionable strategies. For those interested in the intersection of sustainability and investment strategy, especially professional clients and qualified investors, this article is a must-read. It not only explores the current state of sustainability integration in pension funds but also provides a glimpse into the future of sustainable investing. ?? Interested in learning more about how sustainability beliefs are shaping pension funds' asset allocation? Want to discuss or share your experience with integrating sustainability into SAA? ?? Get in touch or read the full article to dive deeper into this pivotal topic. Your insights and experiences are invaluable as we navigate this evolving landscape together. #sustainability #decarbonisation #Pensions

Increasingly pension schemes would like to reduce negative impacts arising from carbon emissions, biodiversity loss, poor governance and inequality, which affect their portfolios. We are here to help! The Impact Investing Principles for Pensions were designed by the Impact Investing Institute in partnership with Pensions for Purpose, and are a practical guide to impact investment; they dispel the myths, and give pension funds concrete steps to follow to reduce their climate-related risks. We are delighted to announce we are publishing our first case study on behalf of Wiltshire Pension Fund. Pensions for Purpose now manages the Supporters, Adopters and case studies, as well as gathering and reviewing annual evidence from investment consultants and fiduciary managers on their progress. Our case study series will showcase best practice and how far Adopters of the Principles have come on their impact journey. Wilshire’s Impact investment story so far: The fund aims for 30% of the portfolio to be sustainable/low-carbon by 2030. Currently, 5% of their portfolio is allocated to affordable housing and 7% to renewable infrastructure and climate solutions. We are hope other pension funds will grasp the nettle and follow Wiltshire’s lead by adopting the Principles for themselves. visit our Impacts Investing Principles page for more information; https://ow.ly/JOjB50RIehP #PrinciplesforPensions #ImpactInvestment #PensionsforPurpose https://ow.ly/uwIm50RIehR

Can your simple portfolio of stock and bond funds match the performance of a sophisticated pension fund? Maybe so, concludes a new study.