How Can an Organization Achieve Gender Diversity?

View PDF In a recent white paper I addressed the problem of gender diversity in the investment management industry. I reviewed the industry’s track record on the inclusion of women, explored why diversity is important, and outlined why many firms have found it so difficult to add women to their workforce. You can find my […]

Untangling the Gordian Knot of ‘Cash Drag’

Modern portfolios are increasingly complicated as they have expanded beyond stocks and bonds. The management of those portfolios—and the attendant illiquidity that can come with alternative investments—has many asset owners staring at a Gordian knot very much in need of untangling. With Alexandrian efficiency, a futures-based cash overlay can slice through many of the issues complicating cash […]

Thoughts on Relevance

Staying competitive in our industry is critical for all of us, but it is becoming more challenging. We are all well aware of the many issues our industry faces. However, from my perspective as a 40+ year industry veteran, it is amazing just how resilient and successful our industry has always been. Why is our […]

New Feature: A Monthly Periodic Table

Monthly Table ‘Classic’ Table All Tables Callan has long used our Periodic Table of Investment Returns to highlight for clients and other institutional investors the advantages of diversification over the long haul. The table ranks asset classes by performance over various time periods, and over the years we have created specialized versions (such as equity-only, […]

Over-Inflated? PCE vs. CPI

Because of its extraordinary response to the Global Financial Crisis, investors scrutinize the actions of the Federal Open Market Committee (FOMC) more than ever. Since 2000, the Fed’s preferred measure to set its 2% target rate for inflation has been the personal consumption expenditures (PCE) index. Despite these developments, the consumer price index (CPI) remains […]

2017 National Conference: On Challenges for Institutional Investors

Callan’s 37th annual National Conference drew a range of high-profile speakers. This final post recaps their views on the array of challenges institutional investors face; previous ones appear here, here, and here. Ben Inker of GMO (at right in photo) and Cliff Asness of AQR discussed how to create a portfolio—given a “clean sheet of […]