This comparison of expected versus realized turnover in institutional equity portfolios reveals that 65%of portfolios turn over more than expected, some by large amounts.Manager interviews indicated they were aware that excessive turnover was potentially harmful to their clients. They cited...

Climate change was described by Nicholas Stern as ‘the greatest market failure the world has seen' (Stern Review, 2007). But relatively little research has focused on the investment implications of climate change at the total-portfolio level, and how institutional investors might respond. That...

As society's expectations about the appropriate behaviour of corporations has shifted over time, so too has the focus on what role institutional investors might play through the investment mechanism. This thesis focuses on the behavioural impediments to the adoption and effective implementation...

This article presents the results of a large-scale research project analyzing the potential impact of climate change on investors' portfolios. This collaborative endeavor was led by Mercer and included 14 global institutional investors representing in excess of $2 trillion in assets under...

This article examines the credit crisis and the role that different agents played, including institutional investors. It suggests a series of actions that we can take to improve the integrity and resilience of the financial system going forward. Whether or not you agree with all the suggested...

Many collaborative initiatives amongst pension funds and their agents have emerged over recent years in an attempt to improve the workings of the market mechanism, most of which have been targeted at changing corporate, rather than investor behaviour. It has been argued that more consideration...

This paper describes the continuation of previous research on the effectiveness of investor group collaborations funded by the Rotman International Centre for Pension Management (ICPM). Of particular interest is how investor collaboration might redress some of the shortcomings of the financial...

This paper presents the findings of a research project funded by ClimateWorks Foundation on Institutional Investors and the Behavioural Barriers to Taking Action on Climate Change. The project focuses on the behavioural drivers that impact on institutional investors' ability and/or willingness...

Regulation is one way to minimize the harmful impact of financial markets dysfunction. This article argues that collaboration among financial market agents such as pension funds offers a powerful alternative and points to a growing number of successful examples of collaborative initiatives....

The aim of this discussion paper is to begin a conversation with institutional investors about the potential synergies that exist between Environmental, Social and Governance (ESG) investment frameworks and the principles of climate justice. Climate justice works at the intersection of climate...