Colorado’s FPPA Reaps Rewards of Long Investment Governance Revamp

Staff members of the approximately $4.5 billion Fire & Police Pension Association of Colorado (FPPA) are feeling pretty good about themselves currently. Why? In 2009, an informal level of questioning, second-guessing and  hypothesizing among board and staff members regarding the fund’s longstanding, heavily-consultant-driven asset manager hiring process coalesced into formal action to change that process …

MOSERS Board Taps New Chairwoman; ED Expected in June

The Missouri State Employees’ Retirement System (MOSERS) has appointed Crystal Wessing as Chairwoman of the Board of Trustees of the $8.5 billion Jefferson City-based retirement fund, according to a released statement from MOSERS. Separately, the system is also now in the final phase of a recruitment effort for a new executive director, which it expects …

More Power to the CEO!

Governance Guru Applauds CalPERS’ Move The decision last week by the board of the $350 billion California Public State Retirement System (CalPERS) to change its governance policy to make the CEO solely responsible for hiring, evaluating and, if necessary, terminating the chief investment officer, sits very well with Rick Funston, managing partner at Funston Advisory …

Is Risk Parity Ready For Rocky, Roiled Market?

Risk-parity investing, which ballooned in popularity in the aftermath of the financial crisis, may be entering the latest test of its efficacy.  According to some investment market practitioners, peculiar market dynamics have raised questions about the performance potential of the strategy, for this year at least. “Risk parity has enjoyed an unusually good environment for …

Political Patter and Investment Srvcs: Benign Banter or Briar Patch!?

Some argue that the political landscape in the U.S.—if not the world—has never been more polarized than since the election of Donald Trump as U.S. President. And according to some senior institutional investment consultants contacted last week, sensitivities and strong feelings one way or the other regarding the Trump administration and its policy agenda are …

PE Surveys: Investors, Managers Diverge on Due Diligence; Firms Target Divestment  

Fund managers and asset owners are not totally aligned in their views of what factors about managers are important in a private market due diligence process, according to eVestment’s recently released Private Markets Due Diligence Survey 2018. Meanwhile, EY’s Global Private Equity Divestment Study, released last week, finds that PE firms continue to focus on …

MOSERS Board to New Consultant: “Show Me”

The Missouri State Employees’ Retirement System (MOSERS) has hired Verus Investments as a Board Investment Consultant (BIC) to provide investment advisory and oversight services directly to its Board of Trustees. MOSERS has asked the BIC to present a proposed asset allocation/policy portfolio to the fund’s investment committee, which the fund says Verus has done. According …