The latest
Research

Recasting private equity after the financial crisis

This article published by the European Corporate Governance and written by Tilburg University academics examines the post-financial crisis trends in the private equity industry, showing investors are demanding the inclusion of more investor-favorable compensation terms in limited partnership agreements. The findings suggest these new terms not only provide the investors with more favorable management fee and profit […]
Amanda WhiteFebruary 7, 2014
Investment Think Tanks

Active management: turning the argument on its head

One of the enduring areas of asset management academic study, and practitioner query, is whether or not managers have skill. In his work, professor of finance at Stanford, Jonathan Berk, shows the answer doesn’t lie in returns but in manager compensation.   Determining whether active skill exists is not the same as looking at whether […]
Amanda WhiteFebruary 5, 2014
Research

Systemic tail risk

A research paper by executives at the Dutch Central Bank, De Nederlandsche Bank, examines tail risk, and shows that historical tail betas are able to capture the sensitivity to future systematic tail risk.   The paper can be downloaded here  Systemic tail risk
Amanda WhiteJanuary 31, 2014
Uncategorised posts

Organisational change: asset owners 2.0

A key ingredient for success in any organisation is strong leadership. It is common in the corporate world for the chief executive to change every five to 10 years as the organisation evolves. Are the same principles true for large institutional investors?     Roger Urwin, global head of investment content at Towers Watson, who […]
Amanda WhiteJanuary 31, 2014
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