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Asset Allocation

What past market crashes teach us

Looking back at the portfolios of large institutional investors during and after the dot.com crash and the GFC, CEM Benchmarking, reveals commonality in the portfolios that thrived. For both events the top quartile returns were more than 2 per cent higher than the bottom quartile. Analysing the asset allocation and behaviour of investors showed two clear themes: top quartile performers had more defensive allocations pre-crash; and rebalancing is a tailwind for performance.
Chris Flynn and Franco WangMay 11, 2020
Governance

Metrics for long term performance

Academics Gordon Clark and Ashby Monk have created 11 metrics that focus on meaningful and useful predictors of long-term performance. It’s a boon for investors struggling with the problem of appropriate measures for investing for the long term, a horizon where traditional benchmarks don’t always fit.
Amanda WhiteFebruary 7, 2019
Opinion

The in-house investment team: right people, roles, rewards

Good people are at the core of any successful organisation, and that is true for asset owners. Global chief investment officer of Towers Watson, Craig Baker discusses how designing and implementing structures that attract the right people in the right roles can unlock long-term sustainable advantages that the right investment team can offer.   It […]
 July 25, 2014
Asset Classes

Data doesn’t lie: illiquidity premium doesn’t exist

There is no 3 per cent illiquidity premium in private equity, according to research by CEM Benchmarking. A cost drag on private assets cancels out the returns of investing in private equity and real estate for those investors that outsource to external providers, the research finds. CEM Benchmarking, which has a database of 354 pension […]
Amanda WhiteJanuary 22, 2014
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