This collaborative research examines the relationship between hedge fund managers’ fee structures and the amount of risk taken and among other things finds a “high-powered incentive fee” encourages excessive risk-taking, while management fees have the opposite effect.
Wurts polishes its silver
US consulting firm Wurts & Associates turns 25 this year, so Amanda White spoke to the founder, Bill Wurts, and managing director, Jeff MacLean, about the company’s transformation and the plans for the next quarter of a century.
Capital ventures forth … cautiously
Everyone likes venture capital. It’s one of the feel-good asset types that fiduciary investors can believe makes a difference to society. Unfortunately, for the past 10 years it has also, on average, lost money.
Climate-change cloud has silver lining: Mercer
Climate change could slash as much as 10 per cent off portfolios in the next 20 years, according to Mercer’s much-anticipated climate change report, the result of an 18-month collaboration with 14 institutional investors from around the globe.
CalSTRS plugs holes in neat buckets with risk overlays
CalSTRS will employ a new way of evaluating portfolio risk which overlays risk across asset classes, rather than replacing asset classes with risk categories, and introduces six broad risk factors.
CPPIB privately eyes its 75-year horizon
The $140 billion Canadian Pension Plan Investment Board participated in the largest private equity transaction globally in 2010 with its acquisition of Tomkins plc alongside Onex Corporation. Amanda White looks at the fund’s private investments.
