“As we put organisations together we want to leave intact the quant risk activities but create a firm wide oversight on top of that. At worst it will be duplicative, at best collaborative and it adds another perspective, a firm-wide control,” he says. “History has shown us that portfolio problems don’t arise solely because of bad formulas, people drive quant processes so we believe strongly in an independent risk management team.” In 1988 when BlackRock was formed the aim of the eight partners was to be the best fixedincome manager in the US. “Now we are saying we want to be the best manager in the world.” And for Golub, risk management is crucial to that.
The senior investment leader describes the governance challenges as “huge” for funds moving into alternative asset classes because of the complexity and also because of the gap between the best and worst performing general partners and investment managers.
Matthew SmithMarch 10, 2021
This year’s single-best trade was Chinese mid-cap semiconductor and tech stocks, according to UBS O’Connor's Kevin Russell. This illustrates how China’s domestic consumption economy allows it to combat any trade wars with the US.
Jessica SierSeptember 24, 2020
While Sunsuper's access to cash and public market meant its alternatives allocations weren't tapped for liquidity to facilitate early release payments, Tomlinson said he could take advantage of some more liquid ‘hedge fund-type’ investments during tumbling markets.
Jessica SierSeptember 23, 2020