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
COAERS finds rich pickings in PE secondaries; warns of retail risk
The exit drought and extended holding periods in private equity is causing mounting pain for many LPs. But for Austin-based COAERS, it is providing ample market to pick up bargains in the secondary market. Sarah Rundell spoke to CIO David Kushner.
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Equity paradigms challenged
A number of new research articles have deunked two universally held beliefs in the investment industry, that shares are a good long-term bet and that economic growth is good for equities. Dr Arjuna Sittampalam, Research Associate with the EDHEC-Risk Institute and editor, Investment Management Review, examines the research. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
Maryland moves to strategic allocations profiting private equity and commodities
The $32 billion Maryland State Retirement System is searching for advisers in real estate and private equity, as it moves toward its strategic asset allocation target that sits signficantly distant from its actual investments at the end of September, requiring a quadrupling of its private equity investments and new allocations to real return assets. mrec4inarticleinline
NYSTRS reallocates to international passive
The executive director of the $72 billion New York State Teachers’ Retirement System (NYSTRS), Thomas Lee, has been given the discretion to reallocate actively managed international equity assets into passive funds, in line with a board decision to use a blended international equity benchmark, as the fund appoints new consultants to begin from January. mrec4inarticleinline
PE, venture revived by market rebound: Cambridge Associates
For US private equity and venture capital managers, Q2 generated the best returns since the end of 2007, when listed markets began sliding, and for the first time since its introduction mark-to-market valuation methodology benefited managers, according to research from US Consultancy Cambridge Associates. mrec4inarticleinline Sponsored Content scnative1 scnative2 scnative3
New era in private equity fees: Watson Wyatt
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
HOOPP survives the crisis through ALM
The experience of the C$26.7 billion ($25 billion) Hospitals of Ontario Pension Plan (HOOPP) is testament to the success of asset-liability driven investing. Amanda White spoke with chief executive, John Crocker, about how matching assets with liabilities led to an underweighting in equities and a subsequent (relative) survival of the global economic crisis. mrec4inarticleinline Sponsored
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