Northern Trust Asset Management has named Peter Wilke to the newly created position of head of tactical asset allocation. He started at the firm at the beginning of November.
Wilke joins the $1.3 trillion asset manager from Wellington Management Co., where he worked for nearly 10 years and was most recently managing director and portfolio manager. In that role, he was responsible for developing and managing multi-asset portfolios for institutional and financial intermediary investors. He was also head of Wellington’s global tactical asset allocation research team.
Prior to joining Wellington Management, Wilke worked for BlackRock for almost 10 years, rising to portfolio manager and becoming a member of the asset management giant’s multi-asset portfolio strategies team. Before BlackRock, Wilke was an investment analyst at Deutsche Bank.
According to the announcement, Wilke will head up a team of analysts conducting the macroeconomic research that influences Northern Trust’s investment views on market-moving factors, such as growth, inflation and economic policy. At NTAM, Wilke will lead the tactical asset allocation research team and report to Anwiti Bahuguna, NTAM’s CIO of global asset allocation.
“NTAM is strengthening investment capabilities and growing an even more robust process for economic research and analysis,” Bahuguna said in a release. “Peter’s multi-asset expertise will play a pivotal role in developing innovative investment strategies.”
Northern Trust’s Global Tactical Asset Allocation Fund posted a total return of 6.23% for the third quarter that ended September 30, compared with 6.05% for the fund’s benchmark, the Asset Allocation Blend Index. According to the company, the fund outperformed during the quarter, as benefits from tactical positioning outweighed “modest headwinds” from product fulfillment.
The fund has returned 10.45% year-to-date, below its benchmark’s return of 12.82% during the same period. Over the past three, five and 10 years, the fund has posted annualized returns of 3.55%, 5.89% and 5.28%, respectively, short of its benchmark’s returns by 82, 169 and 126 basis points, respectively, during the same periods.
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Tags: Anwiti Bahuguna, Global Tactical Asset Allocation Fund, Northern Trust Asset Management, NTAM, Peter Wilke, tactical asset Allocation