Willis Towers Watson

Calls to liquidate the Future Fund and use the proceeds to pay down government debt have grown louder in recent weeks but doing so won’t come without a cost according to analysis from WTW.

The $70 billion super fund has appointed WTW as asset consultant to its board and board investment committee as it internalises a substantial chunk of its funds under management.

Active management might be back in a big way but asset managers need to make sure they’re getting what they pay for: skill, not luck. Figuring out manager style and factor biases is key.

Systemic risk is difficult for investors to grasp because it’s no big deal – until it is. And unless investors adopt a “vastly different” mindset about pricing, it’s going to get a lot worse.

Global pension assets fell sharply in 2022, but the “global polycrisis” that caused the chaos is unlikely to be a one-off, according to the Thinking Ahead Institute.

Much of the work Willis Towers Watson does for Australia’s largest allocators is now around investment governance. But the tyranny of distance means the local scene can be a bit of an “echo chamber”.

The Kiwi secretariat provider has named former WTW global head of governance consulting Tim Mitchell as chief executive to replace long-time head Simon Tyler. But it has another vacancy to fill with the looming exit of Paul Bevin, general manager investments.

A small handful of new benchmarks would make alternative strategies viable under the YFYS performance test and once again allow funds to take advantage of their diversifying characteristics.

The level of alpha that hedge funds generated in the age of quantitative easing was “lackluster”, but rising market volatility now offer “a richer opportunity set for skilled managers.”

Until now, Japanese funds have largely been bond and cash investors. As they expand into real assets, Frontier wants to own that consulting niche.