Clarke said the new portfolios would also provide more protection against inflation, although the firm was not predicting a significant blow-out in inflation around the world. Mercer generally expects a “slow grinding recovery” to continue over the medium term. Infrastructure and natural resources have been taken out of the alternatives bucket and given their own categories, in recognition of a greater weighting for those investments. Remaining alternatives include things such as insurancelinked securities, mezzanine debt, global tactical asset allocation products and hedge funds.
Investments
Rest Super has built its private equity program around a deliberately selective approach to manager and deal selection, favouring a concentrated roster of external partners and proactively seeking out top PE firms rather than waiting for them to come knocking. Head of private markets Marina Pasika unpacks the program’s coming of age and what powered an asset class return more than double the peer average in the last financial year.
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