Cambridge hedge fund insight sells
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?
AP4: Why a dynamic, shorter term allocation is paying off
Volatile markets have provided a rich hunting ground and opportunistic best ideas have come thick and fast for AP4’s new five-pronged global allocation made up of systematic equity, currency and rates, asset allocation, hedge funds/external mandates and analysis. Magdalena Högberg explains the risks and opportunities of the best ideas allocation.
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LASERS targets alternatives
The $12 billion Louisiana State Employees’ Retirement System is overhauling its multipronged alternatives portfolio to concentrate on top-performing allocations and shake up the manager roster.
Future Fund revamps equities
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.
Absolute returns boost Statewide
Australia’s Statewide Super is a top performer under Con Michalakis who embraces absolute returns and active managers while fighting against what he sees as the greatest risk of all, complacency.
Not your usual alternatives
With public assets looking fully priced, the New Mexico Retirement Board is diversifying into alternatives such as litigation finance and royalties from intellectual property and music.
Performance fees hardly worth it
An analysis of 218 Dutch pension funds has shown that paying performance fees has little impact on performance. Size of fund and specialisation were deemed more important for net returns.
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