![]() ![]() ![]() Clients can allocate to that building block,” he says.ĪPG also applies smart beta to real estate and in particular looks at the environmental spectrum in direct property, overweighting to environmentally friendly buildings. “We created a separate asset class for minimum volatility, and we are now researching to allocate to credit and emerging market equities in that. And in its equities exposure, the fund has more than 50 tilts along the “quant spectrum”.īetween 50 and 60 per cent of the developed markets equities exposure is managed using quant strategies and APG started using smart beta three years ago including value, momentum, quality, fundamental indexing, and risk tilts. The practice started in commodities, where it excluded some of the commodity classes, such as natural gas, that have certain behaviours, in a bid to have a more optimal beta exposure. Under the smart beta umbrellaĪbout three years ago APG started implementing some of the strategies that broadly fit under the smart beta umbrella. In fact, many of the developments at APG have been driven by academic thinking. So, if we understand how people make decisions, we can know how to present financial products that they know what to expect and have a guide on how to improve regulation,” he says. “Critics say people don’t understand finance. Wuijster himself is studying a doctoral degree, crudely under the subject of decision making. In addition to out-of-the-box, opportunistic investments, APG takes seriously the evolution of its portfolio management and implementation, and has a close tie to academia. Now run out of the New York office, it earns income every time there is a CD sale, a song played on the radio or performed live, and increasingly in today’s music world, as songs are sampled by other artists. That investment, which amounts to about $917 million, is ticking along nicely. Ronald Wuijster earned a reputation as somewhat of a pension rockstar when he introduced the idea of intellectual property rights as an asset class and bought the music rights to a number of high profile musicians from the contemporary to classical. APG, which manages €314 billion ($480 billion), has always been innovative. ![]()
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