European pension managers feeling more optimistic, but still not crazy about traditional beta investments: survey
| Jul 22nd, 2010 | Filed under: Institutional Investing, Today's Post | By: AAA Staff |
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Active/passive separation – the central foundation of this publication, and a driving force behind the growth of both the ETF industry and the alternative investment industry – has seen better times. It turns out that disentangling manager skill from the rising (or falling) tides of markets wasn’t as straightforward (i.e. linear) as was once thought. The result: portable alpha and other alpha/beta separation techniques was kind of dragged under the bus by the mass media over the past few years.
But institutional investors – the ones who have continued to allocate to hedge funds even during the financial crisis – apparently still believe in both active and passive management. In fact, a sizable proportion see alternative investments “becoming popular again.” This, according to the latest quarterly survey of pension funds from Tilburg University, Investment & Pensions Europe, and the European Pension Academy (European results available here – with emphasis on UK and Dutch plans, Asian results here – although it’s a little light on respondents).
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