Matthew Herbert

CERN Pension Fund is an active manager which adopts a capital preservation investment philosophy, targeting positive returns while limiting downside risk. They invest in a range of asset classes including listed equity, government and non-government debt, currencies, money market instruments, property, commodities, private equity and in strategies with absolute return focus. They make direct and indirect investments in physical assets or derivatives. Natural Strategic Asset Allocation is their default asset allocation and is approved by the investment committee and regularly reviewed. They seek to dynamically adapt their investment exposure to prevailing market conditions and conduct top-down analysis and assess market risks as well as investment themes and opportunities. They implement the capital preservation strategy through capital preservation sub-strategies and select and monitor external managers with a proven capital preservation expertise. They construct a diversified portfolio, investing in a range of investment opportunities based on different risk/return characteristics within the risk limits approved by the Governing Board.