Weekend Giant Reading: September 27 — 28, 2014

Welcome to the weekend! Here’s some news on pensions and sovereign wealth funds for your reading enjoyment.

Inside A Secondhand Book Store Operated By Yahoo Japan Corp. And Bookoff Corp. As Japan Consumer Prices Rise 3.1%

Books and packages of DVDs are stacked as a customer, left, sells them at a counter inside a YAHUOFF! second-hand book store, operated by Yahoo Japan Corp. and Bookoff Corp., in the Shibuya district of Tokyo, Japan, on Friday, Sept. 26, 2014. Japan’s inflation slowed more than expected in August, highlighting the risks facing Bank of Japan Governor Haruhiko Kuroda in his push for prices to rise 2 percent. Photographer: Kiyoshi Ota/Bloomberg

Kiyoshi Ota/Bloomberg

Welcome to the weekend! Here’s some news for your reading enjoyment.

- The Great Hedge Fund Evolution: Dutch pension fund APG Asset Management sees signals the hedge fund opportunity is shrinking but is happy and persevering with its allocations — for now.

- Pension Liabilities: After five years of awesome returns, unfunded public pension liabilities among the top 25 public funds has been cut to $2 trillion.

- Insourcing: AustralianSuper is adding 30 percent to its internal team to cut external management costs.

- Inflow Insanity: Norway’s sovereign wealth fund is shifting its approach to investing — it will move into private equity.

- Insourcing: Korea Investment Corporation fancies itself a stock picker. It’s doubling the size of its research department.

- New Sovereign Wealth Funds: Zimbabwe’s Senate approved the new SWF bill and at the same time, rejected Mugabe as one of the fund’s new trustees. Interesting.

- Musical Chairs: Stephen Blyth will take over as head of Harvard Management Company.

- Drawdowns: Brazil is withdrawing $1.5 billion from its SWF to plug a hole in its budget.

- Sovereign Development Funds: Temasek says that the secret to its remarkable performance for 40 years has been its separation from government. I say, isn’t it smart and professional use of government relationships?

- Green I: It feels like pensions are finally thinking long-term thoughts, especially about the environment.

- Green II: CalPERS will disclose the carbon footprint in its investment portfolio.

- Green III: The New Zealand Superannuation Fund has backed a study to assess better the risks and opportunities from climate change.

- Green IV: The Washington State Investment Board has added what it calls a new “investment belief” that demands transparency around climate risks from managers.

- Green V: CalSTRS has announced it will invest in the sustainable rather than divest from the unsustainable.

On that positive note, have a great weekend!