CalPERS gets what it pays for from private equity

November 24, 2015

The U.S. pension giant revealed that $24.2 bln of net gains from the asset class over 25 years came at the cost of $3.4 bln in so-called carried interest for fund managers. Private equity is pricey and hitherto opaque, but CalPERS’ analysis so far helps justify the fees.

Cox: Quarterly reporting to get a major rethink

November 17, 2015

From BlackRock’s Larry Fink to presidential contender Hillary Clinton, “quarterly capitalism” has become a four-letter word. Big publicly traded asset managers could change habits by abandoning their own three-monthly results. Watch for that in the coming year.

Fund managers should be able to say no to new cash

August 11, 2010

It stands to reason that the more money flowing to a particular investment strategy, the more likely returns will diminish. By logical extension, fund managers should therefore occasionally say no to new cash to keep from hurting performance. But in the money business, that's easier said than done, especially when considering the growing number of alternative asset managers that are publicly traded.

Europe’s investors miss value cues, again

October 18, 2013

It’s a basic rule of asset management: buy what’s cheap, sell what’s expensive. The current crop of European money managers must have slept through that lesson. As the most recent cycle turned, they sold as stocks got cheaper. Now shares are more expensive, they are buying again.