Consultants Grapple with Private Debt Benchmarking

Private credit, a relatively new asset class, offers investors a large multi-asset class that encompasses a variety of niche strategies. Yet, institutional investors and consultants continue to grapple with an important question: how does one benchmark private debt, especially when  trying to measure performance for an opportunity set that is so diverse, both by collateral type …

No Place Yet for Cryptocurrency in Institutional Portfolios

Most market practitioners agree that institutional investors, in general, have still not yet warmed up to cryptocurrencies due in part to the lack of regulation governing the new class and volatility in the asset class. Yet, change could be on the horizon. “There are a whole series of specialist investment possibilities that investors could consider, and …

MSBI CIO Mansco Perry Brings Investments Back to the Basics

Reporter Kaitlyn Mitchell recently spoke with Mansco Perry, longtime executive director and chief investment officer (CIO) of the $93.5 billion Minnesota State Board of Investment (MSBI). Perry has had a long career in financial analysis, and has overseen MSBI through excellent returns in his time with the fund—in 2017, the fund had a 15.1% return, …

Advisors Offer Deep Dive into their Real-Asset Investing Strategies

This week, Reporter Kaitlyn Mitchell spoke with institutional investment consultants and managers on how they are advising their institutional clients to invest in real assets. Experts consulted include pros from Aon, Hamilton Lane and Wilshire Associates, and Polsinelli law firm. Many Facets to the Class “The way we define real assets is anything that has …

Seth Magaziner, General Treasurer of R.I., Poster Child for Pension Plan Transparency

This week, IA reporter Kaitlyn Mitchell had an in-depth conversation with Seth Magaziner, the General Treasurer of Rhode Island. A young man at age 35, Magaziner, who is responsible for the administration of $8.3 billion in assets at the Employees’ Retirement System of Rhode Island (ERSRI), is running for re-election this fall, after making improvements to the …

Epoch’s New COO Values Left and Right Brain in Seeking Alpha

Philipp Hensler, who last week joined New York City–based equity manager Epoch Investment Partners, as president and chief operating officer, has alpha on his mind—on the left and right side of his brain, to be clinical. Hensler was previously president and CEO of Vontobel Asset Management. Delivering a presentation based on doctoral research he conducted …

Struggling, Small R.I. Funds Pursue Strategies to Improve Funding Status

While a number of New England pension funds, which aggregate some $2.5 billion in assets under management across 20 open and 14 closed plans, remain critically underfunded, one fund has turned around its misfortune using conservative investment strategies. Others, such as the 24.2%-funded Central Falls, Rhode Island police and fire pensions, are still in rough …

SSGA Votes Against Directors at 500 Companies that Won’t Add Women to Board

State Street Global Advisors (SSGA) voted against reinstating board directors of more than 500 companies in the United Kingdom, U.S. and Australia that have no women on their boards and have taken no action to improve board diversity, despite engagement by the asset manager, according to Rakhi Kumar, senior managing director, head of ESG investments …

Stamford Police Pension Board Reaps Payoff from Securitized Products

The Stamford Police Pension Board has gradually shifted its $37 million traditional fixed-income allocation to multi-strategy-securitized credit and hedge funds. The move is continuing to pay off.  On a year-to-date basis, through March 31, Stamford pension’s securitized credit exposure was up 8.5%, while its standard fixed income index, the BloombergBarclays US Aggregate Index was down …

Cambridge Hires Diversity Manager To Boost Women and Minority Manager Offerings

Cambridge Associates has hired Jasmine Richards as senior investment director, manager diversity, based in the firm’s Boston headquarters. Richards joined the consultancy to lead its ongoing initiatives to identify and research institutional investment managers in all public and private asset classes that have diverse owners or leaders, including women and people of color. The goal is to increase …