Editor of the Financial Analysts Journal and chair of Ennis Knupp & Associates, Richard Ennis, believes contemporary asset allocation schemes are becoming unwieldy for many decision makers because of the proliferation and splintering of investment categories, and advocates an approach that relies more on empirical evidence than on assumptions or intuition.
As concerns in private credit mount, Colorado PERA CIO and COO Amy McGarrity says the pension fund isn’t seeing any strains in its growing allocation to the asset class, arguing that long-term investors are shielded from the risks because they can lock up their capital to weather market cycles.
The new CIO at the Hawaii state pension fund is looking for additional sources of uncorrelated return, including hedge funds, and will look to add new managers to the lineup. Sarah Rundell talks to Elizabeth Burton.
Stefan Dunatov, head of investment strategy and risk at Canada’s $170 billion British Columbia Investment Management, says long term investors should forget about diversification at the strategic level and instead focus on buying growth beta assets.
Bob Prince, co-chief investment officer of Bridgewater, says that institutional investors should consider diversification in the context of different economic exposures which could manifest in splitting portfolio allocations to the east and west. He advocates looking at diversification through the lens of macroeconomic conditions and cashflows related to the differences in economic regimes around the world.
The Future Fund is adding risk to its portfolio, and focusing on liquidity, as part of a part of an ongoing strategy to free up more capital in the portfolio in the event of a drawdown. It is in the midst of selling off a “large slice” of private equity assets on the secondary market and has bought listed equities in emerging markets in the past year.
A year ago, the Alaska Permanent Fund appointed its first chief risk and compliance officer, Sebastian Vadakumcherry. With current investment conditions, and a move to a more conservative outlook, the relationship between Vadakumcherry and CIO, Marcus Frampton is proving its worth. We look at the fund’s approach to risk, its outlook for capital markets, and how data will give it an edge.
A big contributor to the long-term top decile performance of the Washington State Investment Board has been its high allocation to private markets. But it is not just the high allocation that sets the fund apart from its peers, it’s also the nature of the relationships with its GPs. Amanda White speaks to retiring CIO Gary Bruebaker about the fund's secret sauce.
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