All defined benefit (DB) schemes still need to pay pensions as they fall due. What's the right balance between cashflow-driven and ‘barbell’ investment approaches? And how should schemes’ strategies differ given low-dependency or buyout objectives?

Join Henry Song, CFA, portfolio manager for the Diamond Hill Core Bond and Short Duration Securitized Bond strategies, for a discussion on the opportunities in the investment-grade fixed income market, including a breakdown of the securitized markets and the importance of looking beyond the benchmark for investments in…

CEM Benchmarking has evaluated the investment costs of eleven profit-to-member Australian superannuation funds (supers) for the year ending June 30, 2023. The datasets used in this study were provided by the eleven supers. The study finds that the Australian supers, on average, were 11.7 basis points (bps) lower cost than…

In the ever-evolving landscape of investment strategies, achieving stability and resilience is crucial, particularly amid market uncertainties and downturns.

As institutional investors increasingly use alternative investment strategies to complement their traditional asset allocations, exposure to real assets and in particular real estate has grown considerably. In a market environment characterized by an advancing business cycle, allocations to high-quality, core real estate can…

Core infrastructure strategies have been growing in popularity in recent years. The continued fall in bond yields has meant that for some investors, the returns on offer in debt markets have not been sufficient to meet their long-term liabilities. This has pushed them to look for higher-returning alternatives, and core…

An analysis of potential investment returns to the year 2100 led us to consider four themes that we think will have a pervasive influence over the rest of the century: low bond yields, demographics, climate change and technological innovation. All four are interlinked, with feedback mechanisms from one to the other. We…

Infrastructure equity demonstrated its resilience during the global financial crisis, COVID-19 upheaval, and inflation rate shocks of 2023. Discover the attractions of core and core-plus infrastructure investment strategies seeking to offer low volatility.

In this short piece, we review the case for multi-strategy alternatives. We explain why liquid, diversifying alternative strategies may have a decisive role to play in the tougher investment environment ahead and highlight the potential of multi-strategy alternatives as a natural core solution for diversifying returns. We…

In 2022, trend-following indices have posted some of their best returns of the past 20 years. Against a backdrop of both equity and bond market sell-offs, these alternative strategies have thrived. But why? In this episode of Trend Setters, we dive into the reasons why trend following strategies work and importantly, when…

An analysis of potential investment returns to the year 2100 led us to consider four themes that we think will have a pervasive influence over the rest of the century: low bond yields, demographics, climate change and technological innovation. All four are interlinked, with feedback mechanisms from one to the other. We…

While co-investing has been a feature of the private equity industry for many years, it is a relatively new but growing trend in the hedge fund industry. We believe that hedge fund co-investments are an important tool to increase the total return of portfolios, while also delivering limited correlation to traditional asset…

Thematic investment is new and exciting. It aims to harness long-term growth, but this innovative investment approach also breaks from traditional investment silos like countries, sectors, factors, or regions. Whether thematic investments are used tactically or strategically, investors’ portfolio allocation should be able to…

This paper examines the characteristics of non-core (value-added and opportunistic) real estate strategies and the impact of including them in an investor’s portfolio. It concludes with a recommendation that investors should consider allocating part of their real estate allocation to non-core strategies.

This paper explores private equity real estate fund performance and voluntary environmental, social, and governance (ESG) disclosures. Using data from the National Council of Real Estate Investment Fiduciaries (NCREIF), it examines the relationship between performance for funds in the Open Ended Diversified Core Equity (ODCE…

In this paper, UBS AM examines how office space will continue to add value to employees and employers after the current health situation has subsided. The post-COVID-19 future will be characterized by technological advances and organizations determining the right balance of remote work to advance their organizational…

Core real estate equity offers insurers a multitude of benefits. The sector has historically produced attractive absolute and risk-adjusted returns while acting as a strong diversifier in multi-asset class portfolios. It can serve multiple roles in asset liability matching strategies and offers significant tax advantages for…