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TOBAM Stepping Out into Fixed Income Smart Beta

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In an October 9th announcement, TOBAM unveiled a brand new fixed income smart beta strategy: Anti-Benchmark US Credit Strategy. The Paris-based asset manager entered the smart beta equity space in 2006, and this is their first foray into fixed income. According to a press release, a leading institutional investor seeded the strategy with an initial contribution of US$ 30 million in May 2014.

“The heavy structural biases that plague market-cap weighted equity indices plaque issuer-weighted bond indices just the same,” said Christophe Roehri, Head of Business Development, in the statement. “Investors are coming to realize that issuer-weighted corporate bond indices do not provide a diversified risk allocation. The Anti-Benchmark US Credit strategy is the result of years of pioneering research and provides investors with a unique strategy in the fixed income world.”

For the new strategy, TOBAM is applying its patented maximum diversification methodology to fixed income in an attempt to capture the credit risk premium. In terms of benchmarks, the strategy strives for lower volatility and returns of 120 basis points higher than the Merrill Lynch US Corporate Index by 120 basis points per year.

ADIA Seeks to Sell KIC Headquarters

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The Abu Dhabi Investment Authority (ADIA) is seeking to sell the building that houses the headquarters of the Korea Investment Corporation (KIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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BMO and OTPP Test Blockchain Canadian Dollar Debt Deal

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The Bank of Montreal (BMO) and the Ontario Teachers’ Pension Plan (OTPP) participated in a landmark blockchain Canadian-dollar debt transaction. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Just Group Acquires Corinthian Pension Consulting

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Just Group plc acquired a 75% ownership stake in the holding company of Corinthian Pension Consulting Limited (Corinthian Pension Consulting). Operating in the institutional world for over 12 years, Corinthian Pension Consulting provides advisory services to defined-benefit pension scheme trustees and scheme sponsors undertaking bulk scheme exercises. The remaining 25% will be retained by current shareholders of Corinthian Pension Consulting. Robert MacGregor will continue to lead Corinthian Pension Consulting, as its Chief Executive Officer. Furthermore, Corinthian Benefits Consulting Limited and Corinthian Affinity Solutions Limited will continue to operate as before, becoming part of a newly formed holding company, Corinthian Group Holdings Limited.

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