Funds Management

Investors have negative outlook “fatigue” and are tired of being cautious. But a large chunk of asset price falls have been due to earnings misses, and the lagged impact of monetary policy means the risks are still out in front.

The collapse of a built-in bull market has put more pressure on asset managers according to a new report, which will need to make “transformational changes” to enjoy the profitability and growth of years past.

Industry super fund owned IFM Investors and ISPT are exploring a merger at the request of their shareholders amidst a challenging outlook for commercial property.

Having poached a number of high-profile portfolio managers, and with backing from family offices and high net worth investors, new boutique Blackwattle is trying to correct the “inadequacies” of the Australian funds management industry.

The NZ Superannuation Fund (NZS) has topped up its hedge fund exposure, handing US$100 million to trans-Atlantic global macro-strategy specialist Episteme Capital.

A new fund headed up by several entertainment and finance veterans will back film and television productions in Australia, taking advantage of “huge changes” in the industry that have made streaming content king.

While equities have been the first stop for institutional investors trying to decarbonise their portfolios and back the transition to renewables, fixed income is the next lever they want to pull.

A rethink of the classic 60/40 portfolio and the need to generate consistent income are driving global pension funds deeper into private debt. But this “best in a generation” vintage probably won’t last.

Comparing public and private market performance can be misleading, according to a new study from PGIM, and CIOs need to look deeper into the data.

The Future Fund is thinking of restarting its active equity programs with investments in small caps, according to CEO Raphael Arndt, but commentators are split on whether it will find the returns it needs.

Managed equity funds have experienced their worst outflows since the Covid downturn of early 2020, according to Calastone. Specialist sector funds are feeling the pain too.

Active management and diversification are “essential” in the emerging carbon credit market. TelstraSuper is getting both through a new strategy from Apostle Funds Management.