Marieke van Kamp, head of private markets at Dutch insurer NN, flags growing risks in private credit. In an interview with Top1000funds.com, she also outlines NN’s partnership model with managers and argues the case for sustainable real estate.
Despite uncertainties, Norges Bank is tipping that the US stock market will continue to outperform Europe in the next two decades. The mammoth fund also explained how it carved out a $90 billion pure alpha portfolio from passive investments, overseen only by 8 portfolio managers.
The current versions of AI are helpful at the “partial automation” of tasks, but the last mile of training to reach “full automation” will come with a dramatic escalation of costs. For investors who want to place their capital most effectively, there are some ways to spot an AI winner.
The second Trump administration has given investors plenty to worry about – tax changes, tariffs and diplomatic chaos among other concerns. But geopolitics expert Stephen Kotkin said the only real danger that will obliterate any portfolio is an US-China war.
Policy uncertainty over issues such as US tariffs put investors in uncharted territory, but the Top1000funds.com Fiduciary Investors Symposium heard that one guiding principle at such moments is not to make big, risky bets.
Bridgewater’s co-CIO Karen Karniol-Tambour warned that many investors have built up significant vulnerabilities in their portfolios over the past 15 years, in a period defined by steady growth and US exceptionalism. But the post-Liberation Day regime will be much less favourable for traditional portfolios.
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