Most of the outsourced CIO clients of Cambridge Associates have aggressive asset allocations, with a tilt towards alternatives and hedge funds. But do the high fees eat into the potential alpha?
A new measure of the value a manager adds meets a proposed rate of compensation and protection for asset owners in the Thinking Ahead Institute’s plan for fairer performance fees.
Albourne's John Claisse says hedge funds must make more flexible arrangements with managers to survive and points to the ‘1 or 30’ model for its simple approach to putting the focus on alpha.
Australia’s sovereign wealth fund has revamped its equities portfolio to take on deliberate factor risk and target idiosyncratic risk. The fund’s head of equities, Björn Kvarnskog, explains.
CalPERS is happy with its consultants, except for their performance in recommending ways to control fees and costs and their presentation of new investment ideas, a board rating reveals.
A deep dive into the world-class private capital division of OTPP, led by Jane Rowe, reveals a strategy of buying large direct stakes in companies, and a commitment to innovation.
MSCI research has shown that, among top-performing funds, more than half of active returns come from factors, rather than manager skill, and style factors have the biggest impact.
The $140 billion Teacher Retirement System of Texas is renegotiating its deals with hedge fund managers including moving to a 1-and 30 fee model as it looks to realign fees across the board.
Danish pension fund Lønmodtagernes Dyrtidsfond has embraced innovation, introducing four buckets for a more dynamic equities portfolio and co-investing with peers to get top value for fees.
The UK Financial Conduct Authority’s upcoming report is expected to call for consolidation in pension funds, tighter controls on active management fees and greater transparency.
Keith Ambachtsheer says net value added for members, not absolute cost, is the way to evaluate funds, and points to a report from Australia’s Productivity Commission as a sensible blueprint.
Ilmarinen CIO Mikko Mursula looks to shrink its holdings in bonds while adding real estate and equity away from Europe, as the fund seeks protection from potential interest rate moves.