Backing Talent, Not Track Records
Family-office cowboys have new competition in niche seed investing: A $3 billion hospital fund.
Manager Selection
Secretive Hedge Funds More Likely to Crash
The less transparent a hedge fund’s process, the more likely it is that investors are exposed to significant downside risk, research shows.
London Pensions Pooled Money, Now Need Managers to Invest It
Almost £8 billion is now under the oversight of the collaborative venture.
Only Half of UNPRI Managers Follow Principles, Says Consultant
A Lane Clark & Peacock survey found that asset managers who say they’re committed to environmental, social, and governance issues don’t necessarily behave accordingly.
TIAA Targets DC in Revamp
Nuveen Investments and TIAA Investments will be unified under a defined contribution investment only business.
High 3i: Personality Metrics of Strong Asset Managers
Manager selection boils down to the people—and three key traits, writes guest columnist Christopher Schelling, private equity chief for the Texas Municipal Retirement System.
The Great Canadian Pension Fight
When is big too big for pension plans? A Canadian think tank takes on the idea of mega-funds.
In-House Expertise Lacking at Health Care Funds
Tight budgets and small internal teams cause health and hospital systems to rely on outside consultants and OCIOs, according to Cerulli Associates.
Don’t Try to Time Factors, Says Cliff Asness
The AQR founder argues there’s little benefit in timing factors as long as value spreads remain within normal historical ranges.
BlackRock Nets £2.8B Pooled Mandate for Welsh Public Pensions
The world’s biggest asset manager has pushed out Legal & General and State Street.
Reorgs, Reshuffles, Rethinks: Asset Management’s Overhauls
Firms including BlackRock, TIAA, and Bain Capital are making major changes to their businesses to meet evolving investor needs.
The New Pay Model for Asset Managers
How your fund managers will be rewarded in five years’ time is going to be very different from the present, according to PwC.
Princeton Defends Fee Spend to Legislators
The $22.7 billion endowment has been paying more to external managers over the last three years—but for top gains.
Why Benchmarks Lead to Bubbles
London economists argue that benchmarks encourage managers to invest in assets as prices go up, even when securities have no fundamental value.
Smart Beta vs. the Monkeys
A random approach to stock-picking may have been proven to outperform active managers, but can it trump smart beta too?