February 12, 2016
There were further reports this week of asset leakage from traditional asset managers, as evidenced by the net outflows from AMG Funds for the fourth quarter of 2015 of $6.8 bn, while Waddell and Reid had redemptions of $5 billion over the same period . These are, of course gross outflow figures, that...
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The Alpha Paradox
A rose by any other name
February 12, 2016
In an increasingly return constrained environment, reclassification of investment buckets has found quite a lot of traction. A recent article in Financial News comparing returns of local government pension plans suggested that in order to offer bespoke options to underlying employers with different risk profiles, many funds are starting to create an a...
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Pensions continue their march towards direct investment
February 12, 2016
This week there was news of the UK’s University Superannuation Scheme sale of a substantial part of their private equity portfolio. It reflects, according to the institution, a continuing shift towards direct investment, in which they are mirroring the actions of Railpen, another UK pension fund, which has taken an increasing...
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