CalPERS carries explicit fiduciary obligations under federal and state law. We examine the legal framework, governance constraints, and practical implications for asset owners following the fund's institutional model.
ADIA's fiduciary status remains legally ambiguous. While UAE law does not impose statutory fiduciary duties on sovereign wealth funds, ADIA's founding charter and operational mandate create institutional fiduciary obligations to the UAE state and its future generations.
Fiduciary breaches expose institutional investors to legal liability and performance drag. We examine documented cases involving major pension funds, board failures, and manager misconduct.
AI's real bottleneck is power. The 49-gigawatt deficit, this week's newsroom in full, the Insider, and The Frontier weekly recap.
The 49-gigawatt question every long-horizon portfolio now faces.
The first weekly issue - featured pieces in full, the rest one tap away.
A framework for how universal owners approach climate risk in 2026 — distinguishing physical from transition risk, correcting the underpricing of physical risk, and treating climate as a systemic exposure.
How long-term asset owners are rebuilding portfolio construction around structural geopolitical risk — scenario analysis, resilience and the shift from forecasting outcomes to preparing for many.
What systemic risk means, how it differs from idiosyncratic and systematic risk, and why the largest, most diversified asset owners cannot simply diversify their way out of it.
The biggest sovereign wealth funds in 2026, ranked by assets under management, with the caveats every reader should know about how these figures are estimated.
What investment stewardship means, how engagement and voting work in practice, and how the UK Stewardship Code 2026 and global frameworks define the responsibilities of asset owners and managers.
What a fiduciary is, the legal duties of loyalty and care that define the role, and why the standard sits at the heart of how the world's largest asset owners govern capital.