By Massimiliano Saccone, CFA, Founder & CEO, XTAL Strategies For many years, the definition of private market performance seemed inevitably reduced to hazardous time-weighting approximations. The calculation hurdle of the presence of interim cash flows looked insurmountable, so much so that, in the private markets, it became perfectly acceptable to neglect the basic rules of […]
By Steve Novakovic, CAIA, CFA, Managing Director of Educational Programming, CAIA Association In Innovation Unleashed: The Total Portfolio Approach CAIA Association highlighted governance as one of the four key dimensions of the Total Portfolio approach (TPA). In the TPA model, the governance structure delegates most authority from the board to the investment team. The one […]
By Massimiliano Saccone, CFA, Founder & CEO, XTAL Strategies One of the useful legacies of the now-vacated SEC’s Private Fund Advisers Rule[i] is a clear and current definition of the purpose of reported performance. Performance metrics should allow investors: “…to compare private fund investments and comprehensively understand their existing investments and determine what to […]
By Claire Sawyer, Associate Director of Content Development, CAIA Association We know life can get busy, and sometimes you just can’t find the time to tune in to every episode of the Capital Decanted podcast. In this blog post, we’ve summarized our latest episode, giving you all the leading insights without the lengthy listen.Read on […]
By Aaron Filbeck, CAIA, CFA, CFP®, CIPM, FDPManaging Director, Head of UniFi by CAIA™ at CAIA Association In case you missed it, a flurry of ETF proposals have attempted to integrate private credit into their offerings, effectively providing private credit to the masses. It’s still early days, but these proposals are likely not over. As […]
By William (Bill) J. Kelly, CAIA, CEO, CAIA Association Paul Munter is the chief accountant at the SEC. He was interviewed by the Wall Street Journal about six months ago on the topic of What Worries Him when it comes to auditor independence in the wake of some recent ‘breakdowns in practice.’ The Q&A […]
By Fernando Walter Lolo, CAIA The objective of this article is to provide the reader an overview on cryptocurrency (crypto) data and statistics as a kind of dashboard to help especially Chief Investment Officers (CIO) in Crypto Hedge Funds (HF), and also to portfolio and wealth managers, allocators, practitioners, traders, and investors. […]
By Gregory C. Beier, Macro ESG Strategist and Founder of Sustainability Arbitrage LLC. There is a lot of confusion about how to implement climate as well as environmental, social, and governance, or ESG, analysis in finance. Today, rating agencies, researchers, and fund managers use different, often proprietary models to assess companies’ ESG performance. That […]
By William (Bill) J. Kelly, President and CEO of the CAIA Association. I spent last week at the SALT Conference in NYC, and it felt great to be back in a zoom-free zone. It was less of a global crowd this year due to COVID travel restrictions but nonetheless, you always learn a lot […]
By John Bowman, CFA, Senior Managing Director at CAIA Association “Of the maxims of orthodox finance, none, surely, is more antisocial than the fetish of liquidity” – John Maynard Keynes Fashioning a common enemy is the work of a brilliant politician, military general, or coach. When well executed, it results in unmatched solidarity and emotional […]