Chronicles: Issue 7, September 2020

Dear Investment Professional,

Welcome to the September edition of Chronicles of an Allocator. This monthly newsletter is carefully curated to provide you with a selection of thought leadership pieces, designed to assist and inform the capital allocation process.

As we’ve said before, the relationship between public and private markets continues to shift, which has prompted investors, managers, and regulators alike to discuss the importance of access. Throughout most of this year especially, the theme of democratization continues to be at the forefront of regulators’ minds in the United States. While this discussion has been initiated in the United States, the outcome is likely to impact other areas of the world in the future. A few weeks ago, the Securities and Exchange Commission officially voted to extend the definition of an “accredited investor” from a wealth-based requirement to an education-based requirement.

While a select few now have access, CAIA Association argues that not much has changed for the end-investor and the education requirements are far from rigorous. We believe that a combination of shifting capital formation and the thrust of responsibility on the end investor for their own retirement savings brings a sense of urgency to the situation.

These pieces are a “best of” compilation of insights we believe are most relevant to you as allocators of capital. They fall under four themes: democratization of alternative investments, the current state of the industry, artificial intelligence and data science, and environmental, social and governance (ESG) issues.


John L. Bowman, CFA, Senior Managing Director, Twitter, LinkedIn

Keith Black, PhD, CFA, CAIA, FDP, Managing Director Content Strategy, Twitter, LinkedIn

Guowei Jack Wu, CFA, Content Director, CAIA APAC, Twitter, LinkedIn

Aaron Filbeck, CFA, CAIA, CIPM, Associate Director, Content Development, Twitter, LinkedIn