Real estate is evolving fast as increased global investment opportunities emerge. Property prices in key markets have begun a tentative upswing that may offer scope for capital gain. There is also evidence of rental growth in some locations, which has had a positive effect on capital values. However, as the effects of the global financial crisis continue to be felt, investors are demanding greater control over their investments. This paper examines the opportunities and challenges facing institutional investors, as well as favoured strategies in the current market.
Asset Classes
Real Estate: New Opportunities for Institutional Investors
State Street, State Street Sponsored Research
Asset Classes
Nest favours institutional-first managers as retail exodus pressures private credit
Nest, the largest workplace pension in the UK, says that private credit managers who prioritise institutional clients will be more favourably viewed. The £61 billion ($82 billion) fund has awarded a £450 million ($605 million) US direct lending mandate to Crescent Capital this month, citing the manager's institutional-client-first approach as a key attraction.
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A spotlight on hedge funds
A roundup of recent institutional investors' hedge fund activity.
Fees kill alpha from hedge funds
Many hedge fund portfolios perform well before costs but fall into negative alpha after charges are levied, Canadian firm CEM Benchmarking's analysis of nearly 400 large investors has found.
MSCI will be patient with A-Shares
Reports are that the inclusion of 226 Chinese large caps in the Emerging Markets Index has gone well. Small-cap and mid-cap shares could follow if concerns about suspensions prove unfounded.
OPTrust ready to jump on bonds
Staying fully funded is priority for the C$20 billion OPTrust, reflected in everything from the name of its annual report to its scaling down of equities, to manoeuvring for high-yield debt.
FSBA pounces on high valuations
The $204 billion Florida State Board of Administration has decided today's market is overpriced and is unloading private equity and real estate to re-deploy capital for higher long-term yields.
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