Doesn’t this just kill Ritchie’s pension ideas?

A similar picture emerges in New York, where pension managers have consistently increased holdings in the Developed Environmental Activist class over the last three years, despite those investments consistently underperforming overall market returns. Indeed, the 12 worst-performing private equity funds in the New York City Retirement System in 2016 focused on renewable and clean energy assets.

All the things he wants to invest in just aren’t good investments.

10 thoughts on “Doesn’t this just kill Ritchie’s pension ideas?”

  1. The Fair Tax mark companies with a Public Listing have lost share value since getting the Mark ( Go Ahead, SSE, Staffline ).

    I’m writing up something soon about not investing in the winners of the 2017 global Stonewall Equality awards “Through our Global Diversity Champions programme, we help multinational employers across all sectors and industries create workplaces where lesbian, gay, bi and trans staff can be themselves and, because of this, thrive”, but need a bit more data.

    Correlation isn’t causation of course ( Carillion aren’t in there ) but I’d rather not take my chances, thanks

  2. Investment advisors, but maybe not pension administrators, could add to their questionnaire on whether the client prefers current income or capital appreciation, a third option of Posturing about moral superiority.

  3. Considering the history of the Teamsters’ funds investments, I wouldn’t be surprised if the New York City Retirement System was getting investment advise from Allen Dorfman, Jr.

  4. Just read in the local press the MD of Hyundai ( their annual world congress is being held in Bilbao this yesr) talking about what is required for electric cars to take off; infrastructure and GRANTS for buying the bloody things.

    Why do I have help my neighbour virtue signal with my cash?

    Looks like green is an economic bummer all round.

  5. Bloke in North Dorset

    Ritchie isn’t calling for it to get us a positive return on our pension funds, he’s doing it for his own aggrandisement.

  6. @Bilbaoboy, just out of interest, what government grants were there for the infrastructure for coal-fired trains, say 1830-50, or petrol powered cars, say 1900-1910??

  7. No idea. My guess would be nil. Railways in the UK were all private and brought under government control in the IWW. AFAIA the companies raised capital and built their own infrastructures.

    Don’t know if the concept of grants existed.

    Open to correction.

  8. I am buying shares in oil companies for my kids right now. Up more than 50% since I started and in the face of a gale from the sustainability pressure groups. Bunch of liars.

    The sustainability indices are down despite a massive increase in demand from investment management firms as a result of pressure groups. Says something about the underlying economics when demand is increasing but returns are low.

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