Ditch the SAA if you will, but keep it simple

And no-one will buy them if they’re 2 and 20. Cheap,
transparent and measured exposures to traditional asset classes, capable of
generating cashflow, will be favoured by trustees more now than they have been
for years – because suspicious members understand them. Simplicity. Set and
forget.

 

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What I took away from the world’s ‘festival of private capital’

The on- and off-stage antics at the extravagant Milken Global Conference in Los Angeles tell us a lot about where institutional capital is right on the money – and where it is putting its head in the sand. And while the event retains the extraordinary intellectual and financial firepower that has always been its signature, something has shifted. The absences are as instructive as what's on the program.

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