标题: weighting between fixed equity and alternatives? [打印本页] 作者: Mechanic 时间: 2011-10-8 02:38 标题: weighting between fixed equity and alternatives?
For a normal portfolio what's the usual 40 40 20?作者: ayaz_mahmud369 时间: 2011-10-8 02:40
What's a "normal" portfolio? University endowment, for instance, would be completely different from a pension plan and both could be very different from most individual investors.作者: LBriscoe 时间: 2011-10-8 02:42
20% for alts is a bit high for most of middle market institutional clients.作者: tango_gs 时间: 2011-10-8 02:44
ohai Wrote:
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> What's a "normal" portfolio? University endowment,
> for instance, would be completely different from a
> pension plan and both could be very different from
> most individual investors.
Agreed. I worked for a university system with both a pension fund and endowment and the latter had a much larger allocation to alternatives.
Also, the equity/fixed income mix would also likely depend on whether the plan utilizes liability-driven investing (as does the corporate pension fund where I currently work) and on the funded status of the plan.作者: noel 时间: 2011-10-8 02:46
Working in private wealth, 40/40/20 is a model allocation for us. We take the "core" portfoio and allocate 100, 80/20, 60/40, 50/50, 40/60 and have a satelitte portfolio of 20-30% AIs depending on liquidity needs, risk tolerance, client constraints. That 30% includes hedge funds. We're thinking of increasing to our "cap" on AIs from 20-30% to pick up more hedge fund exposure.作者: pawn 时间: 2011-10-8 02:49
this is all so useless作者: jbaldyga 时间: 2011-10-8 02:51
Also depends on how you define alternatives. For example, many institutions use L/S equity hedge funds as part of their "global equity" allocation rather than as part of their "alternative" allocation.
