Since the emergence of “Modern Portfolio Theory” and the “Capital Asset Pricing Model” in the late 1960s, institutional investors have taken a quantitatively driven approach to portfolio construction, looking to create portfolio diversification and obtain better risk-adjusted returns by balancing their asset-class exposures. This journey has seen several important advancements in thinking about how to optimally achieve desired results.
Funds that want to take the total portfolio approach first need to get the total portfolio view. To do that they not only need data – and lots of it – but a rock-solid understanding of exactly how they’re going to use it.
New fund services head at JP Morgan in Australia
(Pictured: Henry Capra)
Henry Capra, an investment operations specialist who was most recently the chief operating officer at BlackRock, has been appointed local head of custody and fund services at JP Morgan.
Capra has joined JP Morgan Investor Services in Sydney following the promotion of Australian-based custody and fund services head, Mark Kelley, to a regional role. American-born Kelley, who reports to New York, will still be based in Sydney.
After a restructure earlier this year, JP Morgan’s client-facing people, such as Bryan Gray, a managing director, and client relationships head Chris Field, report to the regional head responsible for business, Laurence Bailey, based in Hong Kong. Bailey, who ran the company in Australia for many years, now also oversees other non-custody services at JP Morgan for Asia Pacific.
Capra departed BlackRock in April this year, after joining in August 2010 – a year after its takeover of Barclays Global Investors. Many departed the merged firm in Australia, including those who went on to form the successful Vinva Investment Management, also in 2010. Capra previously had similar senior operational roles at AMP Capital and BNP Paribas.
