In this latest paper, Watson Wyatt, suggests some changes to redress the imbalance in private equity fees including changing the basis on which a manager sets its management fees; and that GPs should consider phasing in management fees over the investment period to reduce the significant fee drag from paying on commitments early in the life of a fund.
A concentrated bet on fewer, better GP relationships is paying off for one of Australia's largest superannuation funds. Built on selective manager and deal selection rather than a broad roster, the A$112 billion ($78 billion) Rest Super delivered private equity returns more than double the peer average last financial year, as the fund proactively courts top-tier PE firms instead of waiting to be approached.
Towers Watson’s negative outlook for bonds and its advice to increase allocations to high quality credit is being reflected in portfolio shifts by institutional investors.mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
This MSCI research note looks at the historical behaviour of two risk-based investment strategies and investigates their potential application in an institutional equity portfolio. Does risk-based strategy diversification work?mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
In 2008 CalSTRS decided on building an exposure to infrastructure that eventually would total $3.5 billion or 2.5 per cent of its more than $148 billion overall portfolio. An experienced investor in other asset classes, it was a relative newcomer to infrastructure.mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
With more than $A5 billion ($5.3 billion) invested in infrastructure through some 120 different types of assets, AustralianSuper is examining whether diversity is all its cracked up to be when it comes to infrastructure investing. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Ireland’s sovereign wealth fund has to delicately balance the twin demands of being a long-term investor with providing capital to rebuild the shattered Irish economy.mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
A majority of investors believe “stability bonds” could provide a partial solution to the euro zone sovereign debt crisis, but are concerned that these bonds carry a high moral-hazard risk, a CFA institute poll reveals. The poll found 55 per cent of European investment professionals believe that the common issuance of stability bonds can help
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