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Norway SWF tops list of most transparent funds globally
Government Pension Fund Global, Norway’s giant sovereign wealth fund, has topped the list of the most transparent funds in the 2023 Global Pension Transparency Benchmark, beating last year’s winner CPP Investments by only one point. The results indicate a heightened...
Canada, The Netherlands lead the way on pension transparency
Canada is a standout in the transparency of pension fund reporting, topping the list of countries for the third year in a row, with a score of 83, and eight points clear of the next best country score. In a benchmarking first, all five assessed Canadian funds feature...
GPTB 2023: The funds that excelled
The highest scoring funds overall in the 2023 Global Pension Transparency Benchmark were also among the biggest improvers. Both Norway’s Government Pension Fund Global and AustralianSuper increased their scores by 14 points year on year and were the biggest...
Transparency improvements but more work needed on cost disclosure
Funds around the world improved their scores on responsible investment disclosure by more than on any of the three other factors assessed in the 2023 Global Pension Transparency Benchmark. The GPTB measures the transparency of disclosures of 15 pension systems across...
Funds need to evolve governance disclosures
While funds around the world do a good job of disclosing governance frameworks related to financial and investment risks, as revealed in the GPTB, but what is best practice for communicating governance around addressing large, one-off events such as the impact of COVID or war?
GPTB shows pension transparency improvement
The transparency of pension fund disclosures has improved in the past year across the 15 countries and 75 pension funds measured in the Global Pension Transparency Benchmark, a collaboration between Top1000funds.com and CEM Benchmarking.
Innovation needed on fund disclosure of corporate strategy
A minority of pension funds reviewed for the GPTB publicly disclosure their organizational strategy in a way that goes beyond disclosures of economic and market conditions and the impact on the performance of their investments. Michael Reid argues there is room for improvement in communicating key corporate activities to stakeholders.
Why transparency is important for CalPERS
Anne Simpson, managing investment director, board governance and sustainability tells Amanda White why transparency is so important at CalPERS and what the fund is doing to improve it.
Why disclosure and communication are key to pension excellence
Comprehensive, holistic value disclosures and compelling communication are key benchmarks for pension funds. This has been confirmed by the first year experience working with leading global pension funds for the Global Pension Transparency Benchmark, a collaboration between Top1000funds.com and CEM Benchmarking. In year two, in recognition of this belief and communication excellence, we have decided to award bonus points to funds preparing
Cost disclosure distorts reality
The Global Pension Transparency Benchmark (GPTB) measured four factors in its assessment of transparency of pension fund disclosures, here Amanda White looks specifically at the level of cost transparency across pension funds globally.
Much Ado About Transparency
Global Pension Transparency Benchmark advisory board member Lorelei Graye, says the benchmark combined with better data standards for incoming reporting will usher in more constructive transparency.
GPTB: The funds that stood out
The Global Pension Transparency Benchmark revealed the need for much improved transparency among pension fund public disclosures across the globe. But there were some notable best practice examples among pension funds globally. So who were they?
Benchmarking is a filter for excellence
Effective benchmarking separates the wheat from the chaff in pension management, according to Keith Ambachtsheer who argues the Top1000funds.com /CEM Benchmarking Global Pension Transparency Benchmark will help reduce the material ‘saying-doing’ gap in the global pension industry.
GPTB highlights transparency gaps
The Global Pension Transparency Benchmark has revealed the need for serious improvement in pension transparency across the globe.
Benchmark will help build trust
Transparency is an important link in improving pension delivery, and the Global Pension Transparency Benchmark will help lift transparency standards and ultimately trust in pension institutions, according to its advisory board.
Pension transparency needs a benchmark
A new Global Pension Transparency Benchmark – the first formal collaboration between Top1000funds.com and CEM Benchmarking – will launch in February 2021 ranking countries, via their underlying pension funds, on four factors: governance and organization; performance; costs; and responsible investing.
Asset owners report half of all costs
Asset owners are reporting only half of their true total costs according to analysis by CEM Benchmarking exclusively for Top1000funds.com. This means tens of billions of dollars across the industry is not being reported. The authors look at case studies and make suggestions for industry best practice.
Canadians more complex than first glance
The Canadian model, revered world over for its supreme pension management, is not low cost despite that being one of its oft-described traits. New research by CEM Benchmarking and McGill University shows that these funds are cost efficient, rather than being low cost. Their aim is to be high net performers, not low cost.
What past market crashes teach us
Looking back at the portfolios of large institutional investors during and after the dot.com crash and the GFC, CEM Benchmarking, reveals commonality in the portfolios that thrived. For both events the top quartile returns were more than 2 per cent higher than the bottom quartile. Analysing the asset allocation and behaviour of investors showed two clear themes: top quartile performers had more defensive allocations pre-crash; and rebalancing is a tailwind for performance.
The bright and dark sides of PE
Analysis of institutional investor private equity allocations shows the differences in implementation styles and related costs are a key driver of a wide dispersion in private equity results. Researchers at CEM Benchmarking show that costs matter, a lot, in PE.
Active US large cap adds nothing
Active investing in US large caps has detracted value from US pension fund portfolios and exposures should be indexed, according to new research by CEM Benchmarking. This could result in huge cost savings and have implications for how pension funds spend their active budget.
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