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CloseChronicles of an Allocator
A curated newsletter to equip investment professionals to think like an allocator.
Latest Issue
Issue 58: February 2025
Authored by Steven Novakovic, CAIA, CFA, Managing Director, Educational Programs
For years, crypto evolved in a regulatory gray area—fast-moving, volatile, and driven by speculation. But now, as U.S. regulators step in, digital assets are entering a new phase. With the United States finally embracing digital assets, what does this mean for the rest of the world? Are we witnessing the start of a new era, or is this just another false start?
In the latest issue of Chronicles, Steve Novakovic, CAIA, CFA takes a closer look
- How shifting U.S. regulations could impact crypto adoption,
- Why institutional investors are more confident in ramping up exposure,
- And the important roles of governments in the crypto ecosystem.
Past Issues
Issue 57: January 2025
Authored by John L. Bowman, CEO
You’ve probably heard us say often, “everything is an alternative.” What we’re really getting at is the world of investment management is shifting fast. It’s getting harder to neatly label asset classes, products, or liquidity profiles—it’s all starting to blur.
As we step into 2025, we’re focused on helping you navigate the “great convergence” — a transformational shift reshaping business models and investment processes.
In this issue of Chronicles, CAIA CEO, John L. Bowman, CFA breaks down this emerging trend:
- What’s driving the blurring of lines between traditional and alternative assets?
- Why the old benchmarks and categories may no longer make sense.
- And what it all means for you, whether you're managing portfolios or preparing for tomorrow’s capital markets.
The shift is here, and the implications are bigger than you think.
Ready to explore what’s next?
Issue 56: December 2024
Authored by Aaron Filbeck, CAIA, CFA, CFP®, CIPM, FDP, Managing Director, Global Content Strategy
In this issue of Chronicles of an Allocator, Aaron Filbeck, Managing Director of Global Content Strategy at CAIA, draws inspiration from The Hitchhiker’s Guide to the Galaxy to explore the staggering growth of the alternatives industry and what it means for you in 2025. From lagging values to optional(?) reporting, this galaxy is full of twists, turns, and hidden black holes.
But don’t worry, we’ve got the towel. He shares insights and some grounded perspectives to help you make sense of this ever-expanding market.
Issue 55: November 2024
Authored by Nick Pollard, Managing Director, CAIA APAC, and Joey Chan, CFA, FCCA, CPA, Director, External Relations, CAIA APAC
In this month’s issue of Chronicles of an Allocator, our authors present a compelling view of APAC's booming investment landscape. From mega-financial hubs like Hong Kong and Singapore to the tech-savvy innovation pouring out of this region, you’ll see why APAC is capturing the imagination of investors worldwide.
The future is shifting eastward. Are you ready to explore?
Issue 54: October 2024
Authored by Christie Townsend
As the year winds down, we've been thinking about a question that's sparked debates among the best minds in the industry: What really makes a great investor?
Spoiler alert: it’s not just about those shiny track records or lucky streaks.
In this month’s issue of Chronicles of an Allocator, "Student of the Markets: What Actually Makes a ‘Great’ Investor?”, Christie Townsend, Director, Content and Research, CAIA Association explores what it means to be a true student of the markets—beyond the benchmarks and into the mindset that sets the great apart from the good.
Issue 53: September 2024
Authored by Steven Novakovic, CFA, CAIA
In this month’s issue of Chronicles of an Allocator, "Plus ça change, plus c'est la même chose", we explore how evolving market trends mirror age-old investment principles, reminding us that despite the changes, some fundamentals remain timeless.
Ever feel like keeping up with venture capital is like trying to catch a train that’s already pulling away? You’re not alone.
Chronicles contributor, Steven Novakovic, CAIA, CFA, Managing Director, Curriculum, CAIA Association offers a look into the ever-changing (yet strangely familiar) landscape of private equity.
Issue 52, July/August 2024
Authored by Laura Merlini, CAIA, CIFD
In this month’s issue of Chronicles of an Allocator, we make a connection between the distant past and the modern African Continent. Chronicles contributor, Laura Merlini, CAIA, CIFD, Managing Director, CAIA EMEA, crafts a captivating parallel between Herodotus, the ancient traveler and historian, to Africa's emerging opportunities of today.
You’ll discover how Africa, a diverse mosaic of 54 countries, is pioneering green economies, renewable energy, and digitalization. With significant elections and economic integration on the horizon, the continent is primed for growth.
IN THIS ISSUE:
- African Economic Outlook 2024 by African Development Bank
- The 2024 Africa Wealth Report by Henley & Partners
- AVCA Venture Capital in Africa Report 2024
Issue 51, June 2024
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!
Issue 50, May 2024
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.
Issue 49, April 2024
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)
Issue 48, March 2024
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