Browsing: Institutional Asset Management

Pension, Endowment, Foundation, Family Office, Sovereign Wealth
Governance issues

Institutional Asset Management

Nowcasting Endowment Returns

May 21st, 2020 | Filed under: Newly Added, Institutional Investing, Asset allocation, CAIA Alternative Viewpoints, Asset Allocation Models, Endowments & Foundations, Institutional Asset Management

By Hossein Kazemi, PhD, CFA, Senior Advisor at CAIA Association, and Aaron Filbeck, CAIA, CFA, CIPM, Associate Director, Content Development at CAIA Association “There are at least two kinds of games. One could be called finite, the other infinite. A finite game is played for the purpose of winning, an infiniteRead More


Next Customer!

Apr 20th, 2020 | Filed under: Newly Added, Institutional Investing, Asset allocation, What about beta?, Asset Allocation Models, Alternative Investments in Context, Institutional Asset Management

By Bill Kelly, CAIA Association CEO Our story starts with a former Eagle Scout known as Barber. While his name had absolutely nothing to do with his ultimate professional calling, Barber Conable did, perhaps unwittingly, become the Sweeney Todd of the defined benefit plan. Barber Conable lived a noble lifeRead More


Peeling Back the Wrapper of Hedge Fund Strategies

Apr 13th, 2020 | Filed under: CAPM / Alpha Theory, Hedge Fund Strategies, Alpha & Beta, Equity Hedge Funds, Newly Added, Institutional Investing, Alpha Strategies, Event-Driven Hedge Funds, CAIA Alternative Viewpoints, Liquid Alts, Institutional Asset Management, Macro and Managed Futures Funds, Hedge Funds, Relative Value Hedge Funds, Liquid Alternative Investiments, Allocating to A.I., Other Topics in A.I.

By Aaron Filbeck, CAIA, CFA, CIPM, Associate Director, Content Development at CAIA Association During CAIA Association’s most recent Virtual Chapter event, Keith and I (virtually) sat down with Chris Tidmore, CFA, CPA at The Vanguard Group to discuss Vanguard’s recent whitepaper, “The Wrapper Matters: Comparing Liquid Alternatives to Hedge Funds”Read More


Be Direct with Me, Please!

Mar 19th, 2020 | Filed under: Private Equity, Newly Added, Institutional Investing, Venture capital, Equity Types of Private Equity, CAIA Alternative Viewpoints, High-net-worth investors, Endowments & Foundations, Family Offices, Private Investments

By Aaron Filbeck, CAIA, CFA, CIPM Associate Director, Content Development at CAIA Association Original Article: “Direct Investments” by Paul Kenny, AIAR Volume 8, Issue 3 Viewpoint Author: Aaron Filbeck, CFA, CAIA, CIPM Excerpted from the Alternative Investment Analyst Review, Volume 8, Issue 3 The Alternative Investment Analyst Review is theRead More


‘Access to private capital benefits should not require premier status’

Mar 19th, 2020 | Filed under: Newly Added, Asset allocation, CAIA Alternative Viewpoints, Asset Allocation Models, Institutional Asset Management

John Bowman, CFA, Senior Managing Director at CAIA Association “If the devil can quote Scripture, in his spare time he might be working on private capital return methodology.” So uttered Bill Elfers in 1995, founder of Greylock Capital and arguably modern venture capital itself. Eleven years later in 2006, HowardRead More


Diversification Strikes Back!

Mar 13th, 2020 | Filed under: Real Estate, Private Equity, Hedge Fund Strategies, Newly Added, Asset allocation, CAIA Alternative Viewpoints, Asset Allocation Models, Institutional Asset Management, Real Estate Equity Investments, Risk Management Strategies & Processes, Hedge Funds, Private Investments, Real Assets, Allocating to A.I.

By Aaron Filbeck, CFA, CAIA, CIPM, Associate Director, Content Development at CAIA Association, and Keith Black, PhD, CFA, CAIA, FDP, Managing Director, Content Strategy at CAIA Association “Diversification is back” – now that’s not a phrase we’ve heard in a long time…long time. Considering recent market performance, we thought thatRead More


Real Assets ‘Inception:’ Diversification within Diversification

Feb 27th, 2020 | Filed under: Consultants, Real Estate, Liquid and Fixed Income Real Estate, Newly Added, Institutional Investing, Risk management, Asset allocation, Natural Resources and Land, CAIA Alternative Viewpoints, Asset Allocation Models, Operationally Intensive Real Assets, Endowments & Foundations, Institutional Asset Management, Real Estate Equity Investments, Risk Management Strategies & Processes, Real Assets

By Aaron Filbeck, CFA, CAIA, CIPM, Associate Director, Content Development at CAIA Association Excerpted from the Alternative Investment Analyst Review, Volume 8, Issue 1 The Alternative Investment Analyst Review is the official publication of the CAIA Association. Access to the most current issue is an exclusive benefit of CAIA MembershipRead More


Wall Street Tackles Sustainable Development Goals

Feb 25th, 2020 | Filed under: Retail Investing, Newly Added, Institutional Investing, Socially responsible investing, ESG, The A.I. Industry, Institutional Asset Management, SRI and Clean Energy, Other Topics in A.I.

In 2015 the United Nations defined 17 Sustainable Development Goals [no poverty, no hunger, health & well-being, etc.] along with 169 targets that were devised to allow for quantitative measurement of progress. It also set 2030 as the bull’s eye for the attainment of the goals. Since governments alone areRead More


The Future of Hedge Fund Fees

Feb 18th, 2020 | Filed under: Hedge Fund Industry Trends, Consultants, Newly Added, Institutional Investing, High-net-worth investors, Endowments & Foundations, The A.I. Industry, Institutional Asset Management, Fees, Family Offices, Hedge Funds, Structure of the Hedge Funds Industry

We can, in a speculative mood, ask ourselves, “Will hedge fund fees continue to drop or have they reached an equilibrium after the decline of recent years?” But it would be better to ask instead “whose fees?” For talk of the “average” fee hides the fact that discounting for volume,Read More


Making Your Portfolio About #Goals

Feb 13th, 2020 | Filed under: Performance, Analytics & Metrics, Retail Investing, Newly Added, Institutional Investing, Asset allocation, Benchmarking & Performance Attribution, CAIA Alternative Viewpoints, High-net-worth investors, Asset Allocation Models, Endowments & Foundations, The A.I. Industry, Institutional Asset Management, Real Estate Equity Investments, Family Offices, Hedge Funds, Commodities, Private Investments

By Aaron Filbeck, CFA, CAIA, CIPM, Associate Director, Content Development at CAIA Association Central Issue of the Paper If you’re a social media junkie, you have probably seen “#goals” in your timeline. In most cases, the hashtag is referring to an attractive couple or an aesthetically pleasing plate of food.Read More


Lessons from CAIS 2020

Feb 11th, 2020 | Filed under: Debt Types of Private Equity, Newly Added, Institutional Investing, Socially responsible investing, Equity Types of Private Equity, Artificial Intelligence, CAIA Alternative Viewpoints, Alternative Investments in Context, ESG, Economics, Climate change, Institutional Asset Management, Hedge Funds, Macroeconomics, Private Investments, Personalities in AI, SRI and Clean Energy, Allocating to A.I., Other Topics in A.I.

John Bowman, CFA, Senior Managing Director at CAIA Association “You’re a kite dancing in a hurricane, Mr. Bond.” (Mr. White to 007, Spectre) Despite the crystal blue island water, softly rolling Caribbean tide, and perfect skies outside the hotel all week, I opened my conference wrap-up panel reminding delegates forRead More


Climate: The ‘OUR’ Between Dog and Wolf

Feb 10th, 2020 | Filed under: Newly Added, Institutional Investing, Media Coverage of Hedge Funds, Socially responsible investing, The Global Economy & Currencies, What about beta?, Alternative Investments in Context, ESG, Economics, Climate change, Institutional Asset Management, Hedge Funds, Macroeconomics, Private Investments, SRI and Clean Energy, Finance & Economics, Other Topics in A.I.

By Bill Kelly, CEO, CAIA Association While this week’s post may harken to a certain book written by John Coates, there is a different play on the metaphor at work here, with our wheezing planet spinning in the center. Consider the wolf: powerful, aggressive, and risk-seeking. The wolf is alsoRead More


The Case for ESG as a Performance Additive

Feb 4th, 2020 | Filed under: Retail Investing, Newly Added, Institutional Investing, ESG, The A.I. Industry, Institutional Asset Management, Other Topics in A.I.

Sustainability-sensitive investing has a net positive impact on performance, according to a paper released by Robeco. According to the paper written by Chris Berkouwer, a Robeco equity analyst, ESG was responsible for 20% of the outperformance of a Robeco fund over a period of three years. His findings are presentedRead More


Leery Funk’s Open Letter to Sovereign Leaders

Jan 27th, 2020 | Filed under: Consultants, Retail Investing, Private Equity, Newly Added, Institutional Investing, The Global Economy & Currencies, What about beta?, Alternative Investments in Context, Endowments & Foundations, Economics, Climate change, Institutional Asset Management, Macroeconomics, Private Investments, Finance & Economics

By Bill Kelly, CAIA Association CEO In the interest of brevity, I am going to skip the salutation and get right to the heart of the matter. As my name implies, I am Leery of the lofty promises that depend on solving our long-term problems and I do remain inRead More


SASB + TCFD = Common ESG Disclosure Standards?

Jan 26th, 2020 | Filed under: Newly Added, Institutional Investing, Risk management, ESG, Climate change, The A.I. Industry, Institutional Asset Management, Risk Management Strategies & Processes, Macroeconomics, Risk Management & Operations, Other Topics in A.I.

The Sustainability Accounting Standards Board (SASB), a non-profit organization has developed industry-specific standards across environmental, social, and governance topics, working toward a consensus on the sorts of disclosures that the issuers of securities should and will make to their investors. In November 2018, SASB released complete standards for 77 industries.Read More


Hope May Not Be a Strategy…But Neither is a 60/40

Jan 21st, 2020 | Filed under: Consultants, Retail Investing, Alpha & Beta, Newly Added, Institutional Investing, Risk management, Asset allocation, What about beta?, Asset Allocation Models, Alternative Investments in Context, Institutional Asset Management, Risk Management Strategies & Processes, Allocating to A.I.

By Guest Contributor Aaron Filbeck, CFA, CAIA, CIPM, Associate Director, Content Development The death of the 60/40 may be a welcome change for multi-asset investors who understand that exposure to risk premia is perhaps a far better long-term investment strategy. Diversification remains an important facet of asset allocation, but weRead More


An Alternative View of Manager Selection Risk

Jan 16th, 2020 | Filed under: Performance, Analytics & Metrics, Newly Added, Institutional Investing, Risk management, Asset allocation, Benchmarking & Performance Attribution, Asset Allocation Models, Other Issues in Private Investments, Risk Metrics and Measurement, The A.I. Industry, Institutional Asset Management, Risk Management Strategies & Processes, Hedge Funds, Private Investments, Risk Management & Operations, Allocating to A.I.

By Aaron Filbeck, CFA, CAIA, CIPM & Hossein Kazemi, PhD, CFA, CAIA Association & CISDM This is a summary of the editor’s letter originally published in the Volume 8, Issue 4 of the Alternative Investment Analyst Review, a journal published by CAIA Association. The Problem with Studies Many studies onRead More


Simpler Rules for Commodity Pools

Jan 9th, 2020 | Filed under: Investing in Commodities, Newly Added, Institutional Investing, Regulatory, The A.I. Industry, Institutional Asset Management, Family Offices, Commodities

The Commodity Futures Trading Commission has changed the rules for the managers of commodity pools. The new regulations, approved in November and published in the Federal Register for Dec. 10, take effect on Thursday, January 9, 2020. Some key points about these changes: They have codified Family Office No-Action Letters,Read More


SHARE BUYBACKS OR COMPOSITE EQUITY ISSUANCE?

Jan 1st, 2020 | Filed under: CAPM / Alpha Theory, Financial Economics Theory, Newly Added, The Global Economy & Currencies, Emerging markets, The A.I. Industry, Institutional Asset Management, Finance & Economics

By Daniel Fang, CFA, CAIA, Quantitative Research, and Diana Olteanu-Veerman, CFA, Quantitative Strategy, Northern Trust Asset Management Composite Equity Issuance (Cei) Can be a Proxy for Intangible Returns Anomalies Even though factor investing is widely supported in academia and investment practice, forecasting and harvesting factor returns remains challenging for various reasons.Read More


Ebenezer Scrooge: An Alternative View

Dec 23rd, 2019 | Filed under: Alpha-centric Companies, Social investing, Industry Size & Managers, Newly Added, Asset Managers, Institutional Investing, Socially responsible investing, What about beta?, The A.I. Industry, Institutional Asset Management, Hedge Funds, SRI and Clean Energy, Other Topics in A.I.

By Bill Kelly, CEO, CAIA Association Ebenezer Scrooge was not exactly a cuddly CEO. The way he treated poor Bob Cratchit alone would not have exactly put Scrooge & Marley Ltd. in the top quartile of the Sustainalytics’ ESG Risk Ratings, as he routinely gutted any notion of social responsibility.Read More


Investment Management: Time for New Leaders and Exiting Comfort Zones

Dec 10th, 2019 | Filed under: Hedge Fund Industry Trends, Consultants, Private Equity, Industry Size & Managers, Newly Added, Institutional Investing, Socially responsible investing, Equity Types of Private Equity, Other Issues in Private Investments, Business News, The A.I. Industry, Institutional Asset Management, Hedge Funds, Private Investments, SRI and Clean Energy

Disruption is the trend of the moment in many industries and the investment world is no exception. Deloitte Insights has just posted an article that takes a comprehensive look at the investment world today, traditional and alternative. Its theme is that this world is in search of new leadership andRead More


Central Bank Policies Put the Squeeze on Pension Funds

Dec 5th, 2019 | Filed under: Financial Economics Theory, Newly Added, Institutional Investing, The A.I. Industry, Institutional Asset Management, Finance & Economics

Amundi-CREATE Research has offered its independent assessment on challenges now faced by the world’s pension funds, given the policies of central banks. The subject is of great significance to alternative investments managers who represent the aggressive end of many a pension fund’s portfolio. The gist of the report is thatRead More


Looking for Bias: Hedge Funds, Funds of Funds and Prime Brokers

Nov 28th, 2019 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Institutional Investing, Funds of Hedge Funds, The A.I. Industry, Hedge Funds, Structure of the Hedge Funds Industry, Allocating to A.I.

Prime brokers help funds of hedge funds identify hedge funds, which creates what the authors of a new paper call a PB bias. This means that portfolios are overweighted to the hedge funds serviced by the connected prime brokers. The scholars tested (and confirmed) the intuitive hypothesis that the biasRead More


Democratization Without Education

Nov 18th, 2019 | Filed under: Consultants, Retail Investing, Private Equity, Newly Added, Institutional Investing, Asset allocation, What about beta?, High-net-worth investors, Asset Allocation Models, Other Issues in Private Investments, Alternative Investments in Context, Endowments & Foundations, Institutional Asset Management, Family Offices, Private Investments, Allocating to A.I.

By Bill Kelly, CAIA Association CEO The American history buffs out there will know that we are just a few short weeks away from the 246th anniversary of the Boston Tea Party. Back in 1773, the British government was deep in debt and decided the very best course was toRead More


Investors Want Liquidity and They Want it Now

Nov 7th, 2019 | Filed under: Private Equity, Hedge Fund Strategies, Debt Types of Private Equity, Newly Added, Institutional Investing, Equity Types of Private Equity, The Global Economy & Currencies, Other Issues in Private Investments, Business News, Economics, The A.I. Industry, Institutional Asset Management, Hedge Funds, Macroeconomics, Private Investments, Allocating to A.I., Finance & Economics, Other Topics in A.I.

A recent publication from Fidelity Institutional Asset Management, while looking at the money markets in the US, emphasizes that investors are looking for liquidity. The report, written by Kerry Pope and Chris Lewis, each an institutional portfolio manager with FIAM, begins with a discussion of the Federal Reserve’s September rateRead More


A Harvard Education

Oct 28th, 2019 | Filed under: Newly Added, Academic Foundations, Institutional Investing, Asset allocation, What about beta?, Asset Allocation Models, Other Issues in Private Investments, Endowments & Foundations, Institutional Asset Management, Private Investments, Personalities in AI, Allocating to A.I.

By Bill Kelly, CEO, CAIA Association While Harvard the institution is legendary, much less is known about its founding other than by some who have taken those tedious Cambridge tours or the gifted alum who studied their way in through one of those 25 famous gates. Harvard College was foundedRead More


Improve Private Funds, Don’t Do Away with Them

Oct 22nd, 2019 | Filed under: Consultants, Private Equity, Debt Types of Private Equity, Newly Added, Institutional Investing, Equity Types of Private Equity, Other Issues in Private Investments, Endowments & Foundations, The A.I. Industry, Institutional Asset Management, Private Investments, Allocating to A.I.

By John L. Bowman, CFA This editorial first appeared on Sept. 18 in Crain’s Pensions & Investments online edition. It’s open season on private equity in the Democratic presidential debates. Senators Elizabeth Warren and Bernie Sanders and others have made attacking “Wall Street” a major plank in their campaign platforms.Read More


New Study Shows Hedge Fund Investors are Quick Learners

Sep 3rd, 2019 | Filed under: Hedge Fund Industry Trends, Consultants, Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Institutional Investing, Event-Driven Hedge Funds, High-net-worth investors, Endowments & Foundations, The A.I. Industry, Institutional Asset Management, Family Offices, Hedge Funds

A recent study by two scholars at the University of California Irvine asks how quickly investors learn about the skills of their asset managers, including their hedge fund managers. Christopher Schwarz and Zheng Sun, both associate professors of finance at The Paul Merage School of Business at UC Irvine, hadRead More


How Endowments and Foundations Look at Hedge Funds

Aug 8th, 2019 | Filed under: Hedge Fund Industry Trends, Consultants, Private Equity, Hedge Fund Strategies, Equity Hedge Funds, Debt Types of Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, High-net-worth investors, Endowments & Foundations, The A.I. Industry, Institutional Asset Management, Fees, Family Offices, Hedge Funds, Private Investments

Cowen’s Capital Introduction Group has compiled information on what the endowment and foundation community is thinking about hedge funds and how best to invest in them. The Cowen paper on the subject begins with the observation, drawn from Preqin, that at present US-based E&Fs with more than $750 million inRead More


Restrictions on Pension Plan Investments: A Global Survey

Jul 16th, 2019 | Filed under: Derivatives, Newly Added, Institutional Investing, The A.I. Industry, Institutional Asset Management, Hedge Funds, Commodities, Structured Products, Allocating to A.I.

A new report from the Organization for Economic Cooperation and Development surveys the main quantitative investment restrictions to which pension funds and other pension providers are subject in both OECD countries and a selection of International Organization of Pension Supervisors’ (IOPS) member countries. It reminds us of the general desireRead More


The Audacity of Opacity

Jul 15th, 2019 | Filed under: Consultants, Private Equity, Industry Size & Managers, Newly Added, Asset Managers, Institutional Investing, Media Coverage of Hedge Funds, What about beta?, High-net-worth investors, Alternative Investments in Context, Endowments & Foundations, Institutional Asset Management, Family Offices, Hedge Funds, Private Investments, Allocating to A.I.

By Bill Kelly, CEO, CAIA Association Why are we still talking about this? No, it’s not the central bankers and their insatiable easing tendencies, trade wars with China, or even the Women’s World Cup football match (sorry Netherlands!). These stories all make great headlines, drive news ratings, generate tickertape parades,Read More


The Dangers and Attractions of Infrastructure Investing

Jul 4th, 2019 | Filed under: Infrastructure, Newly Added, Institutional Investing, Natural Resources and Land, Other Issues in Private Investments, Operationally Intensive Real Assets, The A.I. Industry, Institutional Asset Management, Real Assets, Other Topics in A.I.

An arm of Brookfield Asset Management, Brookfield Infrastructure, announced that it is leading a group of investors to buy Genesee & Wyoming for a cash payment of $112 per share, a premium of nearly 40% over the pre-announcement stock price. This is a big infrastructure play. G&W is a freightRead More


SOS

Jul 1st, 2019 | Filed under: Retail Investing, Newly Added, Institutional Investing, Asset allocation, What about beta?, Asset Allocation Models, Alternative Investments in Context, Institutional Asset Management, Allocating to A.I., Other Topics in A.I.

By Bill Kelly, CEO, CAIA Association Ask someone of a certain generation to name the most common worldwide distress signal, and they will likely come back with SOS. No surprise then that this same signal, borne from the Morse code, turns 111 years old on this date in history. MostRead More


Advising the Ultra-Wealthy: The State of the Industry

Jun 12th, 2019 | Filed under: Consultants, Newly Added, High-net-worth investors, The A.I. Industry, Family Offices

The Family Office Exchange (FOX) has released a report on the state of the ultra-wealthy advisory business. The report, based on a survey and interviews, draws three broad conclusions: first, the business is in a healthy condition; second, its value proposition is in transition, away from asset-based and toward retainer-basedRead More


The Mysterious Shortfall in Women Chief Investment Officers

May 22nd, 2019 | Filed under: Newly Added, Academic Foundations, Institutional Investing, Endowments & Foundations, The A.I. Industry, Institutional Asset Management, Practitioners, Personalities in AI

By Charles Skorina We recently looked at the number of women CIOs at big endowments*. Among 109 North American endowments over $1 billion we identified twenty (18 plus one director of investments and one CFO who liaises with their OCIO providers). That’s just 18%–less than one out of five. ForRead More


The Big List: 5-year Endowment Performance

Apr 23rd, 2019 | Filed under: Newly Added, Institutional Investing, Endowments & Foundations, The A.I. Industry, Institutional Asset Management

By Charles Skorina In February we published an abbreviated list of five-year endowment performance for fiscal year end June 30, 2018 for 61 schools to compliment the release of the annual NACUBO TIAA study.  Today, we introduce our big list with one hundred large endowments. Every CIO on our listRead More


Nonprofits Gird for Tough New Tax Rules

Mar 26th, 2019 | Filed under: Newly Added, Institutional Investing, Endowments & Foundations, The A.I. Industry, Institutional Asset Management

By Charles Skorina We’re executive recruiters, not lawyers, so you generally won’t catch us opining on important lawyerly stuff like detinue, replevin, trover; or even usufruct (especially usufruct).  We’ll leave all that to the learned JDs. But, in our daily conversations with investment heads in the nonprofit world, we’ve beenRead More


Was 2014 a Turning Point for ESG Investing?

Mar 7th, 2019 | Filed under: Social investing, Newly Added, Institutional Investing, Socially responsible investing, The A.I. Industry, Institutional Asset Management, Emerging Alternative Investments, SRI and Clean Energy

Amundi, the French asset management firm that, less than a year ago, launched the world’s largest green bond and emerging markets-focused investment, has just posted a scholarly discussion, “How ESG Investing Has Impacted the Asset Pricing in the Equity Market.”  The paper begins by saying that academic study of ESG firmsRead More


Pension Funds Not Quite Swamped by ‘Grey Tsunami’

Mar 5th, 2019 | Filed under: Real Estate, Private Equity, Hedge Fund Strategies, Infrastructure, Equity Hedge Funds, Debt Types of Private Equity, Newly Added, Institutional Investing, Asset allocation, Event-Driven Hedge Funds, Equity Types of Private Equity, Natural Resources and Land, Asset Allocation Models, Operationally Intensive Real Assets, The A.I. Industry, Institutional Asset Management, Macro and Managed Futures Funds, Real Estate Equity Investments, Hedge Funds, Commodities, Private Investments, Real Assets, Allocating to A.I.

A recent study of public employee retirement systems in the United States reaches conclusions, that, after a fair amount of “grey tsunami” alarmism in recent years, sound reassuring. The study, based on a recent survey of system managements conducted by the National Conference of Public Employee Retirement Systems (NCPERS) inRead More


Defined Contribution Schemes in Britain: Encouraging a Broader Portfolio

Feb 28th, 2019 | Filed under: Consultants, Private Equity, Newly Added, Institutional Investing, Alpha Strategies, Equity Types of Private Equity, The A.I. Industry, Institutional Asset Management, Hedge Funds, Private Investments, Allocating to A.I.

Britain’s All-Party Parliamentary Group on Alternative Investment Management has published a paper on the country’s pensions. It’s focus is defined contribution schemes especially and the demographic strain they face, and the prospect of their moving more heavily into alternative assets and strategies in response. Defined benefit schemes “have some freedomRead More


Waiting for Godot

Feb 25th, 2019 | Filed under: Consultants, Newly Added, Institutional Investing, Asset allocation, What about beta?, Asset Allocation Models, Institutional Asset Management, Allocating to A.I.

By Bill Kelly, CEO, CAIA Association Waiting for Godot is a tragic comedy play by Samuel Beckett which first premiered on stage in Paris in 1953. There is only one scene and two primary characters who seem to know that they must wait for someone named Godot. They don’t knowRead More


Green Bonds: The Future of Infrastructure Investing

Feb 24th, 2019 | Filed under: Commodities, Infrastructure, Investing in Commodities, Debt Types of Private Equity, Newly Added, Institutional Investing, Socially responsible investing, Operationally Intensive Real Assets, Climate change, Institutional Asset Management, Hedge Funds, Commodities, Private Investments, Real Assets, SRI and Clean Energy, Other Topics in A.I.

Two scholars affiliated with the Centre for International Governance Innovation, Waterloo, Canada, have taken a look at the future of green bonds, that is, bonds whose proceeds are employed to fund environmental initiatives. The paper, by Olaf Weber and Vasundhara Saravade, begins with a guesstimate as to the amount ofRead More


Steps to Attain Sustainable Development Goals

Feb 19th, 2019 | Filed under: Social investing, Newly Added, Institutional Investing, Socially responsible investing, Other Issues in Private Investments, Climate change, The A.I. Industry, Institutional Asset Management, Private Investments, SRI and Clean Energy

Amber Fairbanks, a portfolio manager at Mirova, a division of Natixis, recently talked to Clarice Avery, a Natixis investment strategist on Asset TV about potential long-term investment opportunity in the ESG space. She described ESG as a way in which investors can benefit from long-term secular trends rather than tryingRead More


The Survey Says… 

Feb 11th, 2019 | Filed under: Consultants, Hedge Fund Strategies, Newly Added, Institutional Investing, What about beta?, Asset Allocation Models, Alternative Investments in Context, Institutional Asset Management, Hedge Funds, Private Investments, Allocating to A.I.

By Bill Kelly, CEO, CAIA Association Earlier this year, we surveyed the CAIA Association Membership to ascertain their views on investment-related topics as we step into 2019. We had well over 1,000 responses which, according to the statisticians, puts us in the 95% confidence interval, plus or minus 3%. The respondents’ geographic breakdown tracked the home region of our broader Member base, andRead More


Women in Alternative Investments: ‘Leveraging Diverse Perspectives’

Feb 10th, 2019 | Filed under: Private Equity, Newly Added, Institutional Investing, Venture capital, The A.I. Industry, Institutional Asset Management, Hedge Funds, Private Investments

“With change happening at an unprecedented pace, it is fitting that alternative investment firms are strategically focused on leveraging diverse perspectives in these disruptive times,” says KPMG Chairman and CEO Lynne Doughtie, “The Call to Act,” a new paper that looks at the roles of women in the alternative investmentRead More


How Public Pension Funds are Subsidizing Infrastructure

Jan 29th, 2019 | Filed under: Infrastructure, Newly Added, Institutional Investing, Socially responsible investing, Alternative energy, Operationally Intensive Real Assets, The A.I. Industry, Institutional Asset Management, Frontier markets, Real Assets, SRI and Clean Energy

Public pension funds in the United States invest in infrastructure. Unfortunately, they aren’t very good at it. A recent working paper of the NBER concludes, indeed, that public pensions are so bad at such investments that they—and thus either the public or its retirees or both—are unwittingly subsidizing infrastructure projects.Read More


The Affluent Family Pro: A conversation with Stuart Lucas: wealth manager, educator, and family scion

Jan 21st, 2019 | Filed under: Newly Added, High-net-worth investors, The A.I. Industry, Institutional Asset Management, Family Offices

By Charles Skorina Stuart Lucas has double-barreled credentials as a wealth manager. He’s a Harvard MBA who worked for years with top-shelf financial firms including Wellington Management Company and Banc One (now JP Morgan Chase), where he led their Ultra HNW unit. And, he is himself an heir to familyRead More


Five-year endowment performance: no bed of roses

Dec 21st, 2018 | Filed under: Industry Size & Managers, Newly Added, Institutional Investing, Endowments & Foundations, The A.I. Industry, Institutional Asset Management

By Charles Skorina Chief investment officers at endowments, foundations, and family offices are the top guns of the institutional investment world.  They have an infinite investment horizon, a global playing field, and can invest in anything anywhere – within the broad policy limits set by their institution. We, and manyRead More


And This Little Piggy Wants to TARP It  

Nov 26th, 2018 | Filed under: Newly Added, Institutional Investing, What about beta?, Institutional Asset Management, Allocating to A.I., Finance & Economics

By Bill Kelly, CEO, CAIA Association Pity the poor maligned pig. From the early origins of the Mother Goose nursery rhyme dating back almost 300 years, to the modern and profane descriptor for any boorish lout, the pig is there. Commonly used synonyms, like swine, provide little solace and theRead More


M&A Worldwide Near-Term: New Numbers from Intralinks

Nov 15th, 2018 | Filed under: Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Event-Driven Hedge Funds, The A.I. Industry, Family Offices, Hedge Funds, Allocating to A.I.

The Intralinks Deal Flow Predictor is forecasting a lot of  deals for the first quarter of 2019: 20% year-over-year growth. However, if one looks at a broader frame, the last quarter of this year and the first quarter of the next, the year-over-year growth looks less impressive, at 6% worldwide.Read More