The Ivy League endowment’s strategy of investing heavily in via active management strategies has seen copycat efforts from other endowments, but fee loads are prompting questions about whether that was such a good idea.

The $1.4trn pension fund’s appointment of Asset Management One as gatekeeper underscores the crucial role intermediaries will play matching Japanese capital with Western managers.

Institutional investors still have room for improvement in terms of ESG adoption, but the progress that has been made thus far has been encouraging.