Wednesday, December 15th, 2021 A biweekly topical newsletter from CIO Fund Performance This issue: Insights on winners and losers in fund performance. SPONSORED AD Risk Record Returns Not Enough to Ensure Public Pension Stability Exceeding 6% returns over the next decade will likely require excess risk or consistently performing well above average. Newsmakers CalSTRS CIO Set to Receive $1.1 Million Bonus Chris Ailman is up for a bonus that’s nearly twice his base pay for leading the pension to a 27.2% return. Asset Allocation MIT, Brown Endowments Report Over 50% Returns for 2021 MIT’s portfolio grew to $27.4 billion, while Brown’s rose to $6.9 billion. In-Focus Why Bother With Active Management When Mechanistic Passive Does Best Historically? You want a helping of alpha along with beta-hugging index funds? We asked some shrewd allocators how they get it.   Market Moves Venture Capital Spurs Endowments’ Record Returns However, Pitchbook warns that growth from alternative investments ‘could be more mirage than oasis.’ News Brown Leads Ivies for Third Year in a Row, as Columbia, Harvard Lag Behind Endowment investment returns range from 32.3% to 51.5% for the fiscal year ending June 30. Did someone forward you this newsletter? Sign up here to get Chief Investment Officer Spotlight directly in your mailbox!

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