Insights

The market usually tells you the truth before the fund report does. Different instruments absorb information on different clocks — and the gap between when public proxies reprice and when private NAVs follow is exactly where portfolio risk ...

The hedge fund business still looks concentrated from the outside. Flows are skewed to large platforms. Capacity is tight in some of the best-performing segments. Bigger firms keep getting bigger. Under the surface, the operating model is ...

This note builds on our earlier post, Why EM Macro has Outperformed in 2025. That piece argued that EM macro was the right place to take risk in 2025: the dollar had stopped being an automatic headwind, EM real yields were high, balance ...

Japan’s opportunity today isn’t “cheap stocks in a slow economy.” It’s the combination of too much idle capital and a regulatory/exchange agenda that keeps forcing the capital-allocation conversation onto the board agenda. That matters for ...

A lot of “AI quant” decks in 2026 are marketing decks with extra nouns. The claims sound technical. The evidence is thin. And the slide count goes up every time the Sharpe goes down. The allocator’s job isn’t to decide whether large ...

If you allocate to liquid alternatives, you already know the awkward truth: the label sells the strategy. Now the label has to pass a math test. The SEC’s amended Names Rule (Rule 35d-1) is forcing funds to line up what’s in the name with ...

We’ve looked at the AI boom from a few angles already — from how hedge funds are actually using GenAI (and what that means for manager selection), to how crowding in the “Magnificent Seven” became its own risk factor. This piece tackles ...

When people say “private wealth is the next allocator,” it can sound like marketing shorthand. But there’s a concrete reason the phrase keeps coming back: the wealth channel is not just getting bigger — it’s getting more institutional. ...

Strategic Asset Allocation has been a running theme in our research this year. In “Strategic Asset Allocation: 6 Practical Frameworks for Better Decisions”, we laid out the core playbook: different ways investment committees can design ...