When Paul Woolley, academic-turned funds manager-turned academic, set up his research Centre in 2007, the two main associated universities, London School of Economics and University of Toulouse, didn’t like the name. But he insisted and now the Paul Woolley Centre for (the study of) Capital Market Dysfunctionality has a significant body of work in progress. GREG BRIGHT reports.
CalSTRS shortlists general consultant under new approach to advisers
CalSTRS has named three consultants in its shortlist to act as general consultant, including for the first time Meketa Investment Group, long-time consultant to Harvard Management Corporation and more commonly known as a specialist in infrastructure, under a new tiered approach to the use of consultants introduced by chief investment officer, Chris Ailman.
Russell’s Doman looks to be ‘Intel inside’ retail land
Russell Investments’ newish president and chief executive, Andrew Doman, the first ‘outsider’ to take the top job, has notched up nine months at the firm. The ex-McKinsey & Co executive spoke to GREG BRIGHT about the evolution of Russell.
Not drowning, waving: quants on the comeback trail
Quantitative investing has taken a battering during the global financial crisis, with many big firms suffering lower-than-average performance for much of the past two years. But the stuff that gave quants a compelling story before investor behavioural biases – is now helping them again.
What’s the role of an asset consultant post crisis?
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 at the long.
Diversification – based investing – the new balanced
Not withstanding the effect, for investors, of globalisation, country and sector bets still drive the performance of global equity portfolios. And research shows that whole countries tend to stray from fair value for a lot longer than individual stocks do. Deutsche Asset Management has produced a paper on ‘Diversification-Based Investing’, which leads one to think … Read more
