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 Jersey Division of Investment generated double digit returns in fiscal year 2024 while maintaining good liquidity and dry powder on hand with an overweight to cash and cash equivalents. The cash position is likely to decline through 2025 given the robust pipeline in new private market opportunities.
Uniquely positioned in Silicon Valley, the City of San Jose Retirement System is poised to fulfil its 4 per cent target allocation to venture capital. It underscores a bold risk-on strategy that CIO Prabhu Palani has used to transform the fund he joined in 2018.
At the October investment committee meeting for the Teachers Retirement System of the City of New York, TRS' Tax Deferred Annuity Programme trustees heard how lower quality stocks are outperforming the broad market in what is commonly referred to as a “junk rally.”
In the past two years, the Future Fund has made around $70 billion worth of changes in the portfolio that can be traced back to stubbornly high inflation. Its director of research and insights, Craig Thorburn, outlined how asset allocation around currencies, alternatives and bonds are all looking different.
Texas Teachers records the highest quarterly return in its 85-year history – 333 basis points of alpha – with US and Indian equities fuelling the excess return. The fund has made a number of recent changes to the portfolio including removing China and reducing allocations to private equity.
A total portfolio approach aligns investment implementation with the purpose of being a fiduciary, rather than short term or relative performance. Not only that, there is huge upside performance from the approach, the source of which is not what you might think according to Sue Brake.
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