Chronicles of an Allocator

Authored by Steven Novakovic, CFA, CAIA

Authored by Laura Merlini, CAIA, CIFD

Authored by Aaron Filbeck, CAIA, CFA, CFP®, CIPM, FDP

In this month’s issue of Chronicles of an Allocator, we take on the debate over including private assets in 401(k) plans. Chronicles contributor, Aaron Filbeck, CAIA, CFA, CFP®, CIPM, FDP, Managing Director, Head of UniFi by CAIA™ points out that the discussion is an ongoing one, and the conversation has only intensified since the Pantheon and Partners Group’s Letter to the Department of Labor in June 2020 argued for private equity’s inclusion in fund lineups.

Aaron delves into both sides of the case for integrating asset classes like private equity, real estate, and infrastructure into defined contribution schemes, and wraps it up with a possible path forward. Get a ringside seat to the debate!

Authored by Steven Novakovic, CFA, CAIA

In this month’s issue of Chronicles of an Allocator, we're taking a fresh perspective on ethics. While they might not be the most exciting water cooler topic, it's undoubtedly a cornerstone of what sets exceptional professionals apart in our industry.

Chronicles contributor, Steven Novakovic, CFA, CAIA, Managing Director, CAIA Curriculum explores why ethics matter now more than ever.

Authored by Christie Hamilton

We’ve all known that wherever there's an object of value, a secondary market emerges to provide solutions to asset holders. However, the more intriguing story may be how the underlying investment strategies within secondaries have evolved significantly in recent years.

Explore this fascinating evolution in our latest Chronicles edition, where Christie Hamilton, Director of Content and Research at CAIA Association, dissects the transformation of investment strategies and characteristics within the secondary market—the intricacies of historic fundraisings, innovative diversification strategies, and the emergence of GP-led solutions reshaping private asset markets. 

IN THIS ISSUE: 

• Myths and Reality in GP-Led Secondaries
• Jefferies Global Secondary Market Review 2024
• The Evolution of the Private Equity Secondaries Market (CAIS Group)

Authored by Christie Hamilton

With the recent publication of our seminal report, Innovation Unleashed: The Rise of Total Portfolio Approach, Christie Hamilton, Director of Content and Research at CAIA Association, explores the topic further in this issue of Chronicles to see how beyond the numbers lies a deeper truth: TPA represents a paradigm shift in how we think about and approach portfolio construction.

IN THIS ISSUE: 

• Capital Decanted: Episode 9 - Total Portfolio Approach: An Unexpected Journey with Ben Samild and Jayne Bok
• Thinking Ahead Institute's TPA content hub
• Gain a “behind the pages” perspective of our seminal report

Authored by Steven Novakovic, CFA, CAIA

In this month’s issue of Chronicles of an Allocator, contributor Steven Novakovic, CFA, CAIA, Managing Director, CAIA Curriculum brings us into the world of VC cycles where tough times might not be all bad news. Discover the silver lining as valuations return to Earth, and non-traditional players exit the stage. Are you ready to be contrarian and capitalize on opportunities amid challenges?

IN THIS ISSUE: 

• JP Morgan Growth Equity Outlook
• Pitchbook European VC Predictions
• Asia VC Outlook

Authored by Aaron Filbeck, CAIA, CFA, CFP®, CIPM, FDP

In this month’s issue of Chronicles of an Allocator, contributor Aaron Filbeck, CAIA, CFA, CFP®, CIPM, FDP, Managing Director, and Head of UniFi by CAIA™ offers a cinematic perspective on the democratization of alternatives, drawing parallels with the Star Wars Sequel Trilogy to explore the challenges and innovations in the alternatives space.

IN THIS ISSUE:

• The Tide Has Turned from BCG
• BlackRock’s long-term capital markets assumptions
• Capital Decanted: Democratization of Alts

Authored by Laura Merlini, CAIA, CIFD, Managing Director, CAIA EMEA

Embark on a captivating journey with Sindbad the Sailor and Alternative Investments: A Story of Two Seas in this month’s Chronicles of an Allocator. Laura Merlini, CAIA, CIFD, Managing Director, EMEA for CAIA Association draws parallels between the mythical adventures of Ulysses and Sindbad and the dynamic landscape of the Middle East's alternative investment industry.

IN THIS ISSUE:

• How global climate imperatives are re-shaping energy sectors across the globe
• Advancing Gender Equity in the Middle East Workforce by Bain & Company
• A brief outline of recent PE and VC performance

Authored by Christie Hamilton

This edition of Chronicles, we draw intriguing parallels between architecture and investing, and it's not your typical floorplan. From the transparent elegance of the Farnsworth House to the whimsy of Prada Marfa, this piece weaves a narrative connecting childhood Lego obsessions to a love for genius architects like Mies van der Rohe.

IN THIS ISSUE:

• Greenwich Roundtable Best Practices
• Artificial intelligence and machine learning in asset management
• Linking The Drivers of Total Returns to Fundamentals

Authored by John L. Bowman, CFA

This edition of Chronicles focuses on recent travels to Asia, providing a brief overview — like postcards from the edge, or perhaps paper boats, of my insights from various panels, conversations, and conferences.

IN THIS ISSUE:

• Asia's Private Markets Show Signs of Resilience
• KKR's Thoughts from the Road
• Pictet Group launches inaugural Megatrending - Opportunities Ahead study

Authored by Aaron Filbeck, CAIA, CFA, CFP®, CIPM, FDP 

We’ve all heard some variation of the phrase “a solid foundation is the key to success.” Most of the time, we’re talking about education, morals, or technical expertise. Of course, I agree with the statement when it comes to personal development, but right now I’d like to talk more literally.

IN THIS ISSUE:

• Themes and Opportunities

• Growth Prospects and Fundraising Trends in Infrastructure Investments

Authored by Christie Hamilton

On my first day of investment consulting, I was handed a copy of Pioneering Portfolio Management and told to get familiar with it. David Swensen had me at “rigorous investment framework,” and like many others in the industry, I adopted his model—including the dogmatic adherence to policy asset allocation primacy.

IN THIS ISSUE:

• Discovering Themes for Visual Learners and Graph Geeks

• An Unlikely Resource 

• 2023 Trends + Private Equity

Authored by Steven Novakovic, CAIA, CFA

In nearly 15 years, the universe of digital assets has grown from an idea presented in a whitepaper by an unknown author, to a global ecosystem full of promise, potential and tangible value.

IN THIS ISSUE:

• Unchained Podcast
• One-Two Punch Finally Registers SEC View on Binance, Coinbase, Rest of Crypto
• Are Crypto Markets Correlated with Macroeconomic Factors?

For this month’s edition of Chronicles, we turned to Laura Merlini, CAIA, CIFD, Managing Director, CAIA EMEA to contribute insight and perspective on the art market as an alternative investment class.

IN THIS ISSUE:

• The Art Market Report 2023 by Art Basel and UBS
• How Has Covid-19 Affected the Public Auction Market?
• The Hiscox report

For this month’s edition of Chronicles, we turned to Deborah McLean, President of the CAIA Foundation, and CAIA’s Global Head of Diversity, Equity, & Inclusion, to contribute insight and perspective on DEI initiatives throughout the industry.

IN THIS ISSUE:

• Diversity, Equity, and Inclusion Lighthouses
• Women in Alternatives
• The Path to Inclusive Capitalism

Authored by John L. Bowman, CFA

In this edition, CAIA Association is committed to continuing our global tour and conversation on the Total Portfolio Approach (TPA) to investing.

IN THIS ISSUE:

• The Journal of Portfolio Management
• Total Portfolio Approach Content Hub
• GIC's Total Portfolio Approach

Authored by Aaron Filbeck, CAIA, CFA, CFP®, CIPM, FDP

This edition of Chronicles focuses on alternative investments adoption in wealth management.

IN THIS ISSUE:

• Top Trends in Wealth Management
• The State of Alternative Investments in Wealth Management
• Alternative Investments - Their Rising Prominence in Asia's HNW Portfolios

Authored by Steven Novakovic, CAIA, CFA

In this edition of Chronicles, we highlight a handful of resolutions we believe are worthy of keeping.

IN THIS ISSUE:

• The Illusion of Trust in Asset Management
• Don't be Fooled by Your Office Building Appraisal
• Four Investment Mistakes to Avoid in 2023

This month's issue of Chronicles is by guest author Jo Murphy, who contributed insight and perspective on 2022 as a year of sustained momentum for the APAC region.

IN THIS ISSUE:

• Asia Sails Into Headwinds From Rate Hikes, War, and China Slowdown
• Asia-Pacific Private Equity Report
• The Rise of India's Private Equity Market

Authored by Aaron Filbeck, CAIA, CFA, CFP®, CIPM, FDP

While none of us have a crystal ball and can perfectly predict the future, diversification is a long-term value proposition that’s showing its benefits today. In this edition, we’ve compiled a short collection of articles that can help you take advantage of the chaos while simultaneously improving long-term outcomes.

IN THIS ISSUE:

• Q3'22 Venture Pulse Report
• Private Equity Fundraising Challenges Set Up A Tough 2023
• The Denominator Effect

Authored by Steven Novakovic, CAIA, CFA

This month's edition highlights our paper, "A Renewed Professionalism", outlining six guiding principles for investment professionals to implement the portfolio for the future.

Authored by John L. Bowman, CFA

Late last year, the industry couldn’t get enough ESG. It was a feeding frenzy across LPs, GPs, academics, consultants, and even professional bodies. This month’s edition of Chronicles is dedicated to exploring and equipping you with the latest from the front line of this evolution.

IN THIS ISSUE:

• ESG, CIOs on Crash Course with Politics
• Time to Put the Fossil-Fuel Industry Into Hospice
• What Does ESG Need to Work?

For this edition of Chronicles, CAIA explores the growing demand for access to alternative assets within the world of wealth management.

Authored by Roger Urwin, Thinking Ahead Institute

For this edition of Chronicles, we're highlighting Roger Urwin feature in Portfolio for the Future™ and discussing how strong cultural values within an investment organization will ultimately lead to greater long-term success for the client.

Authored by Ashby Monk, Stanford University

For this edition of Chronicles, we're highlighting Ashby Monk’s feature in Portfolio for the Future™ and unpacking how to develop strategies that will yield the most alpha in today’s volatile investment arena.

Authored by Andrea Auerbach, Cambridge Associates

For this edition of Chronicles, we're highlighting Andrea Auerbach’s feature in Portfolio for the Future™ and discussing why a solid financial footing could mean a less liquid approach.

Authored by Ariel Babcock, CFA, FCLT Global

In this month’s edition, we focus exclusively on the Portfolio for the Future™ report, which simultaneously represents a “back to basics” mantra and a forward-looking view of where our industry and capital markets are headed.

Authored by Navneet Munot, CAIA

This month’s guest author is Navneet Munot, Managing Director, and CEO of HDFC Asset Management who details India’s claim to fame on the capital market stage.

This edition of Chronicles is dedicated to property technology (PropTech), or the application of automated tools in real estate and property management.