$2b tilting programme 'good example' for advisers
The Super Fund has issued a paper about its strategic tilting programme, which it said was the most significant of its active management strategies, and allowed it to add substantial value.
Its tilting programme alters fund exposures to certain asset classes, to capitalise on the fund's long-term investing horizon. It is driven by a belief in mean reversion of assets prices and risk premiums.
Chief investment officer Matt Whineray said the strategy had only marginally increased the Fund's realised risk over its eight years in operation.
"In assessing the performance of such a strategy we always ask whether the returns have been consistent with the investment philosophy, whether there have been any changes to that philosophy and, if so, why. This discipline keeps us focused on the long-term and ensures we act consistently with our investment beliefs and endowments."
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