Unbundling risks and using crocodile strategies

Bjarne Graven Larsen, who recently stepped down as chief investment officer of Ontario Teachers’ Pension Plan, talks about the most meaningful discussion to have prior to constructing the portfolio, getting rid of uncompensated risks and his plans for what to do next.

After two and a half years of holding one of the top chief investment officer jobs in the asset owner world, Bjarne Graven Larsen returned to Denmark this summer. His time at the Ontario Teachers’ Pension Plan and the new experiences brought back in the luggage have, however, probably reaffirmed rather than altered his beliefs of how to think about portfolio construction and successfully manage an institutional portfolio.

Asked about his time in Canada in charge of the pension fund’s CAD 193.9 billion (EUR 130 billion) portfolio and an investment department of about 350 members of staff, he has only praise for his former employer. 

“It has really been terrific and the pension plan looks as great from the inside as the outside. I would be long Ontario Teachers’ if you could buy it in the market,” comments Bjarne Graven Larsen, who is known to many in the industry for his more than a decade spent as chief investment officer of Denmark’s largest pension fund ATP and one of the key figures behind its all-weather and risk-based approach to investing.

The full article, which was published in issue 5 of Nordic Fund Selection Journal, can be accessed here