PSERS Hires Manager For USD10 Billion Overlay
The Pennsylvania Public School Employees' Retirement System has selected NISA Investment Advisors to run a USD10 billion derivatives overlay portfolio for the plan.
BT Pension Tweaks Investment Strategy To Manage Large Drawdowns
London-based GBP42 billion BT Pension Scheme is redesigning its hedging strategy by reducing its holdings of equity put options to use more convex tail-risk strategies to manage extreme market drawdowns. This comes as the Scheme’s multi-billion equity option programs will not efficiently hedge the fund’s evolving investment strategy.
Aspect Sees Increased Demand As Investors Hunt Diversification
Aspect Capital, a U.K.-based systematic firm managing USD8.2 billion, has seen a growing number of client requests from institutional investors seeking alternative solutions for diversification. Max Dongyan Xu, portfolio manager for the firm’s Diversified Programme, which manages USD3.5 billion, said she is having a growing number of conversations with investors looking to improve the diversification of their portfolios through allocations to systematic strategies, primarily through trend-following strategies.
