State funds tipped to face big shortfalls

Some of the biggest state investors are due to fall well short of fulfilling their liabilities based on their current asset allocations, according to analysis of interviews with 20 such entities by Towers Watson. Asian sovereign funds in particular should be thinking more about the best way to take on more risk than how to do more investing in-house, said Jayne Bok, Asia-Pacific head of sovereign advisory at the investment consultancy. Twenty of the world's largest sovereign fun…