Transaction Costs: The Cause of Crowding?
A researcher argues trading costs do not lead portfolio managers to make similar investments—but in fact help them to differentiate.
News Archive: Jul - 2016
The False Economy of High-Conviction Investing
Researchers at Standard & Poor’s argue that a ‘best-ideas’ approach has a number of downsides if asset owners rely on it too much.
NYSTRS Hires Ex-Philadelphia CIO
Brad Woolworth has joined the private equity team at the New York State Teachers’ Retirement System.
Harvard Endowment Chief Stephen Blyth Resigns
Robert Ettl will continue to serve as interim CEO while the $37.6 billion endowment searches for a permanent replacement.
State Street to Pay $530M to Settle FX Charges
US authorities have claimed State Street made “substantial profits at the expense of its custody clients.”
The Masters of Factor Timing
Look to newer, smaller hedge funds with high incentive fees for the most timing ability, researchers have claimed.
Public Funds ‘on the Hook for Excessive PE Fees’
Public pensions must shoulder some of the blame when it comes to paying high fees for private equity, a law professor argues.
The Magic Number in Private Investments
An allocation of 15% or more to private assets can be the difference between outperformance and negative returns, argues Cambridge Associates.
Newsmakers
Seventh Annual Industry Innovation Awards: Nominations Open
Nominations for innovative and talented asset owners and managers/servicers will stay open until August 26.
How Political Ideology Affects Hedge Fund Performance
An “abnormal” political event can lead to a large disparity in investment performance between Republicans and Democrats, research shows.
Latest DC Lawsuit Target: New York Life
A class action lawsuit accuses the insurance company of using a fund with “excessive” fees.
Asset Managers Turn Bearish, Hoard Cash
A global survey of managers finds high levels of cash and a dramatic change in sentiment towards Europe.
Factor Investing: Allocation vs. Integration
Integrating, not just mixing, factors is the key to successful portfolio construction, research shows.
Prudential Names New Retirement CIO
Portfolio Strategy Head Sara Bonesteel will take over the firm’s $371 billion retirement business.
Brexit’s First Winners: De-riskers
A £750 million transaction involving the ICI pension indicates that market turmoil post-referendum has opened up attractive pricing for buy-ins and buyouts.