What’s the role of an asset consultant post crisis?

by GREG BRIGHT | October 28, 2009

Asset consultants have recently started offering medium-term asset allocation advice, often as a separately priced service. Watson Wyatt Worldwide calls it “dynamic strategic asset allocation”. Russell Investments calls it “enhanced asset allocation”. Whatever the term, the advice sits between tactical asset allocation at the short end and strategic asset allocation [...]

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Clash of the titans: investors and managers at odds over alternatives regulation

by STAFF WRITER | July 29, 2009

A battle has broken out between investors and suppliers over the regulation of hedge fund and private equity managers, with opposing testimony given to the US Senate by the country’s largest pension fund, the $180.9 billion CalPERS, and a US-based venture capital firm. In this “Have Your Say” column we [...]

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The marginal investor: thoughts from the edge

by STAFF WRITER | June 23, 2009
Jack Gray

Getting past past performance In his top1000funds.com blog on outlying investment issues, Jack Gray Adjunct Professor of Finance at the Paul Woolley Centre for Capital Markets Dysfunctionality at the University of Technology, Sydney, contemplates the allure of past performance.

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The marginal investor: thoughts from the edge

by STAFF WRITER | May 5, 2009
Jack Gray

What’s in a Name (or an Acronym)? GFC is in the lexicon. It’s not in mine. I refuse to add to the surplus of investment TLAs in  circulation. I refuse because naming induces a dangerously comforting sense that we’ve understood or even controlled that named. Hurricanes sound less malevolent, friendly [...]

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Governance foiled by human folly at NY state fund

by AMANDA WHITE | April 15, 2009

The third largest fund in the US, the $122 billion New York state pension fund, has recently been embroiled in a tale of greed, fraud, bribery and corruption, with a number of its alternative investment funds allegedly tainted by the wrong-doing of former employees of the state comptroller’s officer, including [...]

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Should hedge funds delay taking performance fees?

by STAFF WRITER | March 31, 2009
Joseph Dear

The US$173 billion California Public Employees’ Retirement System (CalPERS) is restructuring the relationships it has with its hedge fund managers and calling for fees to be based on long-term rather than short-term performance. CalPERS said performance fees should be judged on a long-term basis, and mechanisms such as delayed realisations [...]

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