I’ve always been frustrated by interviewing consultants and the lack of conviction they have about their decisions. “What would your ideal model portfolio look like?” I constantly ask. “It depends on the client” is the predictable and consistent answer. That may be valid, even true, but it speaks to a wider problem. Consultants are hired […]
Amanda WhiteOctober 4, 2013
At the International Centre for Pension Management’s biannual meeting in London, Jack Gray and Generation’s David Blood had a tête à tête on sustainability. An academic at the Paul Woolley Centre for Capital Market Dysfunctionality at the University of Technology Sydney, Gray has written a paper, Misadventures of an Irresponsible Investor, that at its core […]
Amanda WhiteOctober 10, 2012
In what is lauded as somewhat of a Laurel and Hardy performance, APG’s Stefan Lundbergh and academic provocateur Jack Gray, demonstrate the disparity between ideology and action in a hypothetical dynamic asset allocation case study. But jokes aside, it highlights the misnomer in the words “best practice”, and the lack of courage in this industry. […]
Amanda WhiteNovember 16, 2011
The investment firepower and cost savings promised by economies of scale have enraptured the Australian superannuation industry. This has instilled in some funds an urge to merge in order to enjoy the benefits of being large. However some investment chiefs believe that bigger size brings a new set of problems that can undermine performance.
Simon Mumme and Brett ColeOctober 12, 2011
This month Australia celebrated 20 years of its compulsory superannuation guarantee system. Observing the past two decades, “entrepreneurial academic” Jack Gray has some advice for those rebooting their system, and it’s not defined contribution.
Amanda WhiteAugust 24, 2011
Funds of funds, particularly hedge funds of funds, have suffered outflows in recent years as pension funds reassessed their cost alongside risk and return characteristics. The conventional wisdom is that all types of FoFs are at death’s door.
Ghost Top1000December 15, 2010