From Vision to Execution: How Investors Are Operationalizing the Total Portfolio Approach
In 2024, CAIA’s Innovation Unleashed: The Rise of Total Portfolio Approach report laid the conceptual foundation. A year later, market uncertainty, resource pressures, and rising complexity have reframed the conversation. Investors are no longer debating TPA’s relevance, but rather how to translate it into real-world decisions.
This new report, developed in collaboration with WTW’s Thinking Ahead Institute, picks up where theory ends and practice begins.
What You’ll Learn Inside
• How over a dozen asset owners—from different regions, sizes, and mandates—are putting TPA into practice
• The real-world shifts in governance, culture, and decision-making that drive successful adoption
• What works, what doesn’t, and how portfolios are changing along the journey from traditional SAA to TPA
• Why adaptability—not size—is becoming the key differentiator
Why This Report Matters Now
Markets are converging, regimes are shifting, and the pressure to deliver more with less is rising. What makes this report different is not the framework itself, but the lived stories of those implementing it. TPA success depends less on structure and more on culture—and those lessons are messy, contextual, and often unspoken.
This paper surfaces those realities, offering investors a rare look at what implementation truly requires.
From Vision to Execution:
How Investors Are Operationalizing the Total Portfolio Approach
Practical insights. Global perspectives. Real-world lessons.