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(pictured: Hersh Gandhi) The global financial crisis prompted significant change among the world’s alternative fund managers – a move to greater liquidity, a move to a more institutional client base and a move to more diversification and customisation of investment offerings. The Man Group, the world’s largest listed alternatives manager, provides an interesting case study in…

(pictured: Niall Ferguson) Renowned UK financial historian, Niall Ferguson, will make his New Zealand debut next week in a one-time-only deal at the Portfolio Construction Forum (PCF) Symposium in Auckland, ahead of a series of meetings in Australia. In a coup for the Graham Rich-run PCF, Ferguson – author of 14 books including the bestseller-cum-TV series…

(pictured: Sandra Urie) Sandra Urie is to step down as chair and chief executive of global asset consultant Cambridge Associates after 25 years with the firm, but will remain, at least part-time, working with clients in the role as “chairman emeritus”. She hopes to devote more time to impact investing, which is a personal passion. Urie…

(pictured: Christopher Schelling) A big US pension fund is investigating the use of personality and aptitude tests for fund managers to become part of its due diligence process. The fund’s head of private equity investments, Christopher Schelling, has written a paper explaining the rationale. Schelling, the director of private equity at the Texas Municipal Retirement System,…

(pictured: Jonathan Shead) New research by State Street Global Advisors indicates that there is still a lot of work to be done for, even, big fiduciary investors to understand the value in factor investing. The research also shows these investors seem a bit unrealistic about expected returns. In its regular survey of 400 of the world’s largest…

(pictured: Jon Howie) BlackRock has cut the management fee on two of its most popular ETFs in the package launched last week as a ‘core’ offering designed for new investors to the ETF market. Jon Howie, the head of iShares Australia, said that in ‘Act I’, relatively sophisticated investors used iShares, with about 50 per cent…

(pictured: Alex Vynokur) AMP Capital and BetaShares have formed an alliance to launch a range of active ETFs. This follows the success of the launch late last year of Magellan’s global active ETF and, according to BetaShares, marks the new generation of exchange-traded products (ETPs). AMP Capital and BetaShares will launch the first three ETPs under their alliance on the…

(pictured: Raewyn Williams) The amount of tax saved from efficient after-tax management by super funds can vary through various market cycles, requiring different techniques to maximise returns. A new paper by Parametric illustrates the potential returns by treating the strategy as ‘tax alpha’. The paper, “The New Recruit to Your Alpha Team”, was written by Sydney-based…

(pictured: Ugo Lancioni) Neuberger Berman is introducing a new concept in currency hedging which it calls the “Dynamic Ideal Hedge Ratio”. It integrates dynamic or active management within a total portfolio’s risk management, which tends to reduce individual manager risk and style risk. In a paper written by three of its specialists the manager says currency…

(pictured: Bob Henricks) Bob Henricks has retired as chair of Queensland’s Energy Super and a career battling for worker and member rights. Arguably one of the most influential trustees in the country, Henricks is, however, considering other board appointments. Brian Delaney* looks at the man behind the industry legend. It is easy to underestimate Bob Henricks. His…