Linda Gruendken: Cycling in Cambridge and the randomness of markets

I chat with Linda, the lead scientist from GAM Sys
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US endowment returns rocket on SpaceX windfall

US endowment returns rocket on SpaceX windfall

Early venture bets on SpaceX have ballooned into major portfolio positions at some US university endowments, with new analysis estimating the aerospace firm contributed as much as 10.6 percentage points to annual returns. Michael Markov, founder of US quantitative researcher Markov Processes International, says the windfall is now creating a concentration risk that investors cannot ignore.

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Managing fat tails and risks in the face of contradictory signals

Global investors face the difficult task of setting asset allocation in an environment where the global macro-economic backdrop suggests chaos and downside risk but markets continue to perform strongly.

Risk takers vs scalers: Investors split on where to access innovation

Investors are still split on whether it’s better to hunt for innovative companies in the public or private markets. But the biggest consideration for investing in new technologies might have more to do with liquidity.

NZ Super co-CIOs chart TPA vision; hunt for new alpha sources

As NZ Super nuts out growing pains in processes and technology, it has made some recent decisions to change its governance route including appointing two co-CIOs, Brad Dunstan and Will Goodwin, last year. In an interview, they discuss the co-delegation model, the evolution of TPA, and new alpha sources.

HESTA prepares AI investment framework for total fund clarity

The A$98 billion ($64 billion) Australian super fund HESTA is laying the groundwork for a more systematic framework for using AI across its total portfolio, solidifying use cases in research, forecasting, risk management and private assets that all centres on the objective of “seeing risks earlier and clearer”.

US Department of Labor slams OECD on ‘Marxist’ ESG policies

The US Department of Labor has publicly condemned the OECD for “pushing members to politicise their pension systems by integrating ESG factors unmoored from returns”, declaring that it will no longer support the OECD's responsible investment principles and the concept of ESG "a Marxist march through corporate culture". 

Future Fund flags expansion of active equity program

Emerging markets, Europe and Japan are all in focus for Australia’s sovereign wealth fund as it looks to ramp up active equities and diversify its exposures, as the fund grows wary of US markets amidst heightened political uncertainty.

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