Cat Bonds: What Allocators Need to Know Now

Catastrophe bonds (cat bonds) have moved from niche to mainstream allocator tool. Record primary supply in 2025—$10.5bn in Q2 alone and a $54–56bn outstanding market mid-year—reflects insurers’ demand for alternative capital and investors’ ...
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7 min read

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Dutch Pensions: What’s Changing and Why Markets Care

The Netherlands is shifting from DB-style promises to DC-style accruals under the Future Pensions Act (Wtp). A sizeable share of assets plans to transition around January 2026, with a follow-up wave likely in January 2027. The shift ...
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4 min read

Life Settlements as an Investment Asset Class

Life settlements—the purchase of life insurance policies from original holders—have gained traction as a niche alternative asset class offering actuarially driven returns and structural diversification. Institutional investors, including ...
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7 min read

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Evaluating Hedge Funds in a Crowded Market: How Allocators Can Separate Durable Alpha from Disappearing Edge

Hedge funds are more plentiful than ever, but true alpha has never been scarcer. Crowding, high cash yields, and performance dispersion make today’s environment particularly unforgiving for allocators. For CIOs and family offices, the ...
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5 min read

The Path to Redemption: Rethinking Decisions When Good Managers Fail To Perform

Every allocator knows the experience. A hedge fund manager with a stellar track record suddenly falters. Performance dips, peers outperform, and questions surface in the Investment Committee. Do you stay patient and give the manager room ...
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6 min read

Total Portfolio Approach: A Holistic Framework for Modern Asset Allocation

Strategic Asset Allocation (SAA), epitomized by the classic 60/40 portfolio, worked for decades under stable conditions. But 2022’s equity–bond sell-off showed how fragile static mixes have become as correlations shift. Old assumptions, ...
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13 min read

The Total Cost of Alternatives: A Fee & Terms Budgeting Framework for Absolute-Return Allocations

Institutional investors and family office CIOs know that not all “absolute-return” vehicles are created equal. Hedge funds, UCITS liquid alternatives, and bank-provided QIS products can all deliver alternative strategies – but each comes ...
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12 min read

Liquidity Isn’t Cash: Building a Portfolio Liquidity Budget

Liquidity is often thought of as simply “liquid” or “illiquid,” but in reality it exists along a continuum. It represents how quickly and reliably an asset can be converted to cash without significant loss in value. At one extreme, cash ...
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5 min read

Position Sizing & Sell Discipline: A Modern Allocator’s Framework

Position sizing and sell discipline rarely get the same airtime as asset allocation or manager selection, yet they influence long-term portfolio outcomes just as much. In many investment processes, these decisions sit in a grey area—left ...
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11 min read

The Art and Science of Portfolio Rebalancing: A Timeless Framework for All Market Environments

Portfolio rebalancing is one of the most consistently overlooked drivers of long-term portfolio resilience. While asset allocation gets the strategic spotlight, it’s rebalancing that ensures portfolios stay aligned with their intended risk ...
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10 min read
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