Pension commitments to real estate continue to increase in 2013
|
|
- Veronica Fitzgerald
- 5 years ago
- Views:
Transcription
1 Pension commitments to real estate continue to increase in 2013 Domestic public pensions committed $5.3 billion to managed real estate vehicles in the first quarter of 2013, up from $4.4 billion in Q Commitments to real estate managers by U.S.-based public pensions continue to increase, according to data tracked by FPL Consulting. Per FPL s proprietary database, pensions committed $5.3 billion to managed real estate vehicles in the first quarter of 2013, compared to just $4.4 billion through the same period in This trend represents a continuation of gains made in 2012 where commitment volume represented a 29 percent increase over The database includes commitments to over 150 managers from 110 public pensions representing $2.7 trillion in assets under management. Tracked commitments include those made to managed vehicles such as closed-end commingled funds, open-end commingled funds, separate accounts, club funds, and programmatic joint ventures. Other notable findings: Investment strategy Value-add strategies have gained favor among pensions thus far in 2013, representing 37 percent of aggregate commitment volume. This represents a significant increase over the last three quarters where value-add vehicles have accounted for only 17, 22, and 25 percent of commitments respectively. Conversely, while core vehicles were favored by investors for much of 2012, they represented only 34 percent of commitments in Q1 (down from 50 percent in Q and 40 percent in Q4 2012). Vehicle structure Closed-end commingled funds have also been very popular with investors thus far this year, representing 59 percent of Q1 commitments (up from just 36 percent in Q4 2012). Separate account structures have seen a corresponding decrease (from 51 and 54 percent in Q2 and Q to just 22 percent in 2013). Asset class - Vehicles focusing on a specific asset class continue to gain traction with investors, accounting for 40 percent of aggregate commitment dollars (up from 22 percent in 2011 and 35 percent in 2012). Among those asset-specific vehicles, multifamily was the most popular, accounting for 48 percent of total commitments. Manager concentration - Commitment activity continues to illustrate a bifurcation between the haves and have nots. So far in 2013, the top 5 firms (by aggregate fundraising dollars over the period) represent 41 percent of total capital flows, more than doubling the capital raised by all firms outside the top 20. Vertical integration - Vertically integrated managers have continued to gain favor with investors, receiving 33 percent of commitments, up from 26 percent in 2012 and 20 percent in Operators are particularly popular selections for separate account vehicles; of all commitments to separate account structures, 83 percent were made to vertically integrated managers.
2 About FPL Consulting: FPL Consulting is a member of the FPL Advisory Group family of companies, which provides highly specialized advisory services to the real estate and related industries. Through our complementary practice areas, we work with our clients to develop the right leadership, structures, strategies, financial and compensation foundations for success in today s intensely competitive marketplace. FPL Consulting specializes in transformational assignments addressing key shareholder and/or employee requirements so as to provide a new foundation for competitive performance. For more information, please contact Timothy Kessler, Principal, at tkessler@fplassociates.com.
3 Q Fundraising Update Pension fund commitments to managed real estate vehicles
4 Pension commitments to real estate continue to increase in 2013 Domestic public pensions committed $5.3 billion to managed real estate vehicles in Q1 2013, up from $4.4 billion in Q Commitments to real estate managers by U.S.-based public pensions continue to increase, according to data tracked by FPL Consulting. Per FPL s proprietary database, pensions committed $5.3 billion to managed real estate vehicles in the first quarter of 2013, compared to just $4.4 billion through the same period in This trend represents a continuation of gains made in 2012 where commitment volume represented a 29 percent increase over The database includes commitments to over 150 managers from 110 public pensions representing $2.7 trillion in assets under management. The average commitment size so far in 2013 is $66 million, which represents a decrease from full year 2012 where the average size was $92 million. As one would expect, the size of commitments for separate accounts is considerably higher with an average size of $163 million; this too represents a decline from 2012 where the average separate account commitment size was $279 million. $B Commitments to real estate managers $mm Q Q Overall Average commitment size (overall and by vehicle type) Closed-end funds Open-end funds Separate accounts 163 Investment Strategy 2013 YTD Commitments by investment strategy While core vehicles were the clear favorite among pensions in , YTD 2013 commitments suggest a resurgence of higher yield strategies. Vehicles employing value-add or opportunistic strategies represented 62 percent of aggregate commitment dollars in Q1, compared to just 34 percent for core vehicles. Other strategies (e.g. senior/mezzanine debt, securities, etc.) rounded out the remaining 4 percent. Q Q Q Q Core Value-add Opportunistic Other 2013, FPL Consulting
5 Vehicle Structure Commitments by vehicle type Q Q Q Q Closed-end commingled Open-end commingled Separate account There has been a material change in the types of vehicles pensions are committing to over the past year. While separate accounts were heavily emphasized through most of 2012, commingled funds have recently been attracting much greater levels of capital. Separate accounts represented 51 and 54 percent of total commitment volume in Q2 and Q3 of 2012, but only 22 percent of commitments flowed to such vehicles in Q Conversely, open-end commingled vehicles attracted very few commitments in early 2012, but have seen significant levels of activity the past two quarters. Closed-end funds have been the most popular among investors so far in 2013, representing 59 percent of total commitment volume. Asset Class Vehicles focusing on a specific asset class continue to gain traction with investors, accounting for 40 percent of aggregate commitment dollars (up from 22 percent in 2011 and 35 percent in 2012). Among those asset-specific vehicles, multifamily was the most popular asset type, accounting for 48 percent of total commitments. Industrial has also been popular with investors so far in 2013, representing 27 percent of commitment volume. Other includes asset types such as hotels, student housing, senior living facilities, medical office, single family, etc YTD 2012 Breakdown of commitments by asset type (among asset-focused vehicles) Multifamily Office Industrial Retail Other 9 Geography Breakdown of commitments by geography The majority of commitment capital (70) went to vehicles with a North American focus, a number that has held relatively constant over the past couple of years. Vehicles investing on more than one continent dropped to 12 percent of commitments while those focused on Asia have showed a significant increase, accounting for 14 percent of commitments so far in That said, this number is largely driven by a $500 million commitment from New Jersey Division of Investments to Blackstone Real Estate Partners Asia YTD North America Global Europe Asia Latin America 2013, FPL Consulting
6 Manager Concentration Commitment activity continues to illustrate a bifurcation between the haves and have nots. The top firms (in terms of fundraising dollars) have consistently attracted a disproportionate share of total commitment volume over the past couple of years. So far in 2013, the top 5 firms (by aggregate fundraising dollars over the period) represent 41 percent of total capital flows, more than doubling the capital raised by all other firms outside the top 20. This bifurcation is even more dramatic when considering that there are many other firms in market that have not received any commitments thus far in Top 5 41 Concentration of commitments among managers All others Vertical Integration Commitments to vertically integrated managers (as of total commitments) YTD Vertically integrated managers have continued to gain favor with investors, receiving 33 percent of commitments, up from 26 percent in 2012 and 20 percent in The vast majority of commitments thus far in 2013 were made to vehicles employing core or value-add strategies. Additionally, of all commitments to separate account structures, 83 percent were made to vertically integrated managers YTD Commingled funds JV/Separate accounts Contact For more information, please contact: Timothy Kessler Principal tkessler@fplassociates.com 2013, FPL Consulting
7 Executive Search Chairmen/ Chief Executive Officers/ Presidents Board of Directors/Trustees Senior Management/ Corporate Infrastructure Ferguson Partners Compensation Benchmarking Program Design Contractual & Policy Arrangements Surveys Management Consulting Strategic Planning Organizational Design Corporate Finance Succession Planning & Leadership Specialized Research FPL Associates About FPL Advisory Group FPL Advisory Group ( FPL ) is a global professional services firm that specializes in providing executive search, compensation, and management consulting solutions to a select group of related industries. Our committed senior partners bring a wealth of expertise and category-specific knowledge to leaders across the real estate, asset and wealth management, hospitality and leisure, and healthcare sectors. FPL is comprised of two primary operating companies that work together to serve a common client base. Ferguson Partners provides executive, director, and professional search services. FPL Associates provides a range of specialized compensation and management consulting services. Through our complementary practice areas, we work with our clients to develop the right talent, leadership, structures, and strategies for success in today s intensely competitive marketplace. From Boston, Chicago, Hong Kong, London, New York, Singapore, and Tokyo, we serve clients across the globe. Our Industry Practices FPL serves clients in a select group of related sectors: Real Estate Investment Managers, Public & Private Owners/Developers, Service Firms, Commercial Mortgage Investment/Finance, Residential Mortgage Investment/Finance, Homebuilders, Engineering/Construction/Infrastructure Asset & Wealth Management Global & Specialty Money Managers, Endowments/Foundations/Pensions, Private Wealth Managers, Family Offices, Fund of Funds, Hedge Funds, Private Equity Hospitality & Leisure Lodging, Gaming Resorts & Casinos, Restaurants & Cafes, Sports & Recreation, Amusement Parks & Attractions Healthcare Seniors Housing, Hospitals BOSTON CHICAGO HONG KONG LONDON NEW YORK SINGAPORE TOKYO FPL Associates L.P. All rights reserved. No business or professional relationship is created in connection with any provision of the content of this publication (the Content ). The Content is provided exclusively with the understanding that FPL Associates L.P. is not engaged in rendering professional advice or services to you, including, without limitation, tax, accounting, or legal advice. Nothing in the Content should be used in or construed as an offer to sell or solicitation of an offer to buy securities or other financial instruments or any advice or recommendation with respect to any securities or financial instruments. Any alteration, modification, reproduction, redistribution, retransmission, redisplay or other use of any portion of the Content constitutes an infringement of our intellectual property and other proprietary rights. However, permission is hereby granted to forward the Content in its entirety to a third party as long as full attribution is given to FPL Associates L.P. The Ferguson Partners recruitment practice consists of two affiliated entities serving FPL s clients around the world: Ferguson Partners Ltd. headquartered in Chicago with other locations in Boston and New York and Ferguson Partners Europe Ltd. headquartered in London with a Japan branch located in Tokyo. Ferguson Partners Europe Ltd. is registered in England and Wales, No , Registered Office: 100 New Bridge Street, London, EC4V 6JA. FPL Associates L.P., the entity which provides consulting services to FPL s clients, is headquartered in Chicago.
Q Fundraising Update. Pension fund commitments to managed real estate vehicles
Q1 2016 Fundraising Update Pension fund commitments to managed real estate vehicles Q1 commitments up from Q4, in line with Q1 15 Public pensions have committed $11.8 billion to real estate managers thus
More informationNAREIM/FPL Executive Compensation Pulse Survey
NAREIM/FPL Executive Compensation Pulse Survey Participant Report of Findings Fourth Quarter, 2013 2013 NAREIM/FPL Executive Compensation Pulse Survey Introduction NAREIM and FPL Associates L.P. are pleased
More informationOutsourcing Trends within the REIM Industry
Outsourcing Trends within the REIM Industry NAREIM/FPL Pulse Series Third Quarter, 2012 FPL ADVISORY GROUP FERGUSON PARTNERS FPL ASSOCIATES Participants overwhelmingly confirmed outsourcing is a trend
More informationGlobal Management Survey
Global Management Survey A comprehensive study of management practices and enterprise benchmarking metrics in the real estate investment management/private equity industry 2015 Executive Summary & Key
More informationNAREIM/FPL Pulse Survey
NAREIM/FPL Pulse Survey Participant Report of Findings Fourth Quarter, 2011 FPL ADVISORY GROUP FERGUSON PARTNERS FPL ASSOCIATES NAREIM/FPL Pulse Survey Introduction NAREIM and FPL Associates L.P. are pleased
More informationInvestor Presentation. October 31, 2017
Investor Presentation October 31, 2017 Notices and Disclaimers Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of
More informationPREQIN SPECIAL REPORT: REAL ESTATE FUND MANAGER OUTLOOK H alternative assets. intelligent data.
PREQIN SPECIAL REPORT: REAL ESTATE FUND MANAGER OUTLOOK H2 2017 alternative assets. intelligent data. PREQIN SPECIAL REPORT: REAL ESTATE FUND MANAGER OUTLOOK FOREWORD Our latest survey of private real
More informationCapital Consolidation in Real Estate Investment Management
Capital Consolidation in Real Estate Investment Management NAREIM/FPL Pulse Series Third Quarter, 2013 Introduction Over the past thirty years, the real estate investment management (REIM) industry has
More informationInvestor Presentation February 7, 2018
Investor Presentation February 7, 2018 Notices and Disclaimers Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of
More informationInvestor Presentation May 2, 2018
Investor Presentation May 2, 2018 Notices and Disclaimers Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933,
More informationPREQIN SPECIAL REPORT: PRIVATE CAPITAL COMPENSATION AND EMPLOYMENT MARCH In association with
PREQIN SPECIAL REPORT: PRIVATE CAPITAL COMPENSATION AND EMPLOYMENT MARCH 2018 In association with PREQIN SPECIAL REPORT: PRIVATE CAPITAL COMPENSATION AND EMPLOYMENT FOREWORD The private capital industry
More informationC$1 trillion (US$829 billion). US$392 billion.
Manulife Financial Corporation (Manulife) is a leading international financial services group that traces its roots and investment management experience back to the 1800s. As at 31 December 2017, assets
More informationPJT Partners Inc. June 22, 2017 JMP FINANCIAL SERVICES AND REAL ESTATE CONFERENCE
PJT Partners Inc. June 22, 2017 JMP FINANCIAL SERVICES AND REAL ESTATE CONFERENCE Notices and Disclaimers Forward-Looking Statements This presentation may contain forward-looking statements within the
More informationInvestor Presentation October 30, 2018
Investor Presentation October 30, 2018 Notices and Disclaimers Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of
More informationPREQIN SPECIAL REPORT: PRIVATE DEBT FUND MANAGER OUTLOOK
PREQIN SPECIAL REPORT: PRIVATE DEBT FUND MANAGER OUTLOOK H1 2018 PREQIN SPECIAL REPORT: PRIVATE DEBT FUND MANAGER OUTLOOK, H1 2018 FOREWORD The private debt industry witnessed considerable growth throughout
More informationBAML Banking and Financial Services Conference
BAML Banking and Financial Services Conference Bennett Goodman Senior Managing Director & Co-Founder, GSO Capital Partners November 13, 2012 Blackstone is a global leader in the faster growing alternative
More informationAUM by region AUM by sector Equity vs. debt AUM. $2bn. $6bn 13% 32% 37% 10% $10bn. Retail Residential
Who we are a nuveen company About us TH Real Estate, an investment affiliate of Nuveen (the investment management arm of TIAA), is one of the largest real estate investment managers in the world with c.$103bn
More information2015 Market Outlook Survey. FPL Associates L.P.
CRE Finance Council 2015 Market Outlook Survey FPL Associates L.P. Introduction The CRE Finance Council (CREFC) and FPL Associates L.P. are pleased to present the 2015 CRE Finance Council Market Outlook
More informationGICS Consultation 2005
GICS Consultation 2005 Standard & Poor s and MSCI Consultation Paper on Potential Changes to the Global Industry Classification Standard (GICS ) Structure I. INTRODUCTION MSCI and Standard & Poor s (S&P),
More informationCompanies. The smart business decision: Switzerland and UBS
ab Companies The smart business decision: Switzerland and UBS Switzerland is the ideal location for business Switzerland is a world leader in business competitiveness and innovation, with a strong economy,
More informationGlobal ex US PE/VC Benchmark Commentary Quarter and Year Ending December 31, 2013
Global ex US PE/VC Benchmark Commentary Quarter and Year Ending December 31, 2013 The Cambridge Associates LLC Global ex US Developed Markets Private Equity and Venture Capital (PE/VC) Index rose 6.5%
More informationGlobal ex US PE / VC Benchmark Commentary
Global ex US PE / VC Benchmark Commentary Quarter Ending September 30, 2014 Overview During the third quarter, the Cambridge Associates LLC Global ex US Developed Markets Private Equity and Venture Capital
More informationWe introduce the disclosure of Risk Capital and Returns on all Product pages for each quarter of 2004 and for the six-month period
Investor Relations 399 Park Avenue New York, N.Y. 10043 To: From: The Investment Community Citigroup Investor Relations Date: July 15, 2004 Re: Changes to Disclosure Format We want to highlight several
More informationGLOBAL SERVICES OVERVIEW
GLOBAL SERVICES OVERVIEW Mike Lafitte Chief Operating Officer PRIORITIES Continue growth of core Brokerage business Accelerate market share gains Drive growth agenda for other key business lines: CBRE
More informationIntroduction Q Hospitality Platforms Real Estate Investment Asset Management & Advisory Services. New York Sydney Singapore
New York Sydney Singapore Hospitality Platforms Real Estate Investment Asset Management & Advisory Services Introduction Q2 2017 New York Sydney Singapore www.apaceurocp.com Strategic Partner smatsgroup
More informationThe REIT Cap Rate Perspective
The REIT Perspective What is It? CenterSquare s REIT Perspective presents the market pricing of $1.5 trillion of real estate in the U.S. REIT market, seeking to quantify the valuation gap between public
More informationNORTHERN TRUST GLOBAL INVESTMENTS
Investor Day 2005 Northern Trust Strategic Differentiation NORTHERN TRUST GLOBAL INVESTMENTS Terence J. Toth President Today s Agenda NTGI Strategic Profile Competitive Differentiators Market Position
More information2005 FINANCIAL ANNUAL REPORT TO SHAREHOLDERS
Northern Trust Corporation 2005 FINANCIAL ANNUAL REPORT TO SHAREHOLDERS FINANCIAL REVIEW 2 MANAGEMENT S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 32 MANAGEMENT S REPORT
More informationNORTHERN TRUST CORPORATION
NORTHERN TRUST CORPORATION Frederick H. Waddell Chairman & Chief Executive Officer Citigroup Financial s Conference The Waldorf=Astoria Hotel New York, New York March 11, 2010 2010 Northern Trust Corporation
More informationMSCI CONSUMER DEMAND INDEXES METHODOLOGY
INDEX METHODOLOGY MSCI CONSUMER DEMAND INDEXES METHODOLOGY November 2018 NOVEMBER 2018 CONTENTS 1 Introduction... 3 2 Constructing the MSCI Consumer Demand Indexes... 4 2.1 Constituent Selection:... 4
More informationHospitality & Leisure Corporate Governance Snapshot
2017 Hospitality & Leisure Corporate Governance Snapshot 2017 Hospitality and leisure corporate governance snapshot 1 header (section title) (remove when section header present) About Spencer Stuart board
More informationReal Estate Index and Selected Benchmark Statistics. June 30, 2015
Real Estate Index and Selected Benchmark Statistics Disclaimer Our goal is to provide you with the most accurate and relevant performance information possible; as a result, Cambridge Associates research
More informationMSCI Economic Exposure Indexes Methodology
es Methodology Contents 1 Introduction... 3 2 Index Construction Methodology... 4 2.1 Applicable Universe:... 4 2.2 Security Selection:... 4 2.3 Weighting Scheme:... 4 2.4 Rebalancing Frequency:... 4 2.5
More informationSpecial Report: Infrastructure Industry Themes
Content Includes: Special Report: Infrastructure Industry Themes Infrastructure Themes Ferguson Partners analyzes the current infrastructure industry, and how it is likely to evolve in the short and longer
More informationReal Estate Index and Selected Benchmark Statistics. September 30, 2015
Real Estate Index and Selected Benchmark Statistics Note on Methodology Changes: Beginning this quarter, we have updated our approach for the calculation and display of select data points contained in
More informationAnalyzing Operational Due Diligence Frameworks. In Fund of Hedge Funds
Analyzing Operational Due Diligence Frameworks In Fund of Hedge Funds Jason Scharfman 1, Managing Partner, Corgentum Consulting LLC Abstract An analysis was conducted using a sample of over 275 global
More informationPE/VC Impact Investing Index & Benchmark Statistics. June 30, 2017
PE/VC Impact Investing Index & Benchmark Statistics Disclaimer Our goal is to provide you with the most accurate and relevant performance information possible; as a result, Cambridge Associates research
More informationBancAnalysts Association of Boston 25 th Annual Fall Conference
N O R T H E R N T R U S T C O R P O R A T I O N BancAnalysts Association of Boston 25 th Annual Fall Conference November 2, 2006 Steven L. Fradkin Executive Vice President & Chief Financial Officer 2006
More informationSmall Cap Allocation for Japanese Investors December 2007
Small Cap Allocation for Japanese Investors Introduction For many years, the equity allocation of Japanese institutional investors has typically been split between domestic and international assets and
More informationOMAM. Investor Presentation. Fourth Quarter 2014
OMAM Investor Presentation Fourth Quarter 2014 DISCLAIMER Forward Looking Statements This presentation may contain forward looking statements for the purposes of the safe harbor provision under the Private
More informationPREQIN QUARTERLY UPDATE: HEDGE FUNDS Q Content includes: Performance Largest Fund Managers Fund Launches Fund Searches
PREQIN QUARTERLY UPDATE: HEDGE FUNDS Q2 2018 Insight on the quarter from the leading provider of alternative assets data Content includes: Performance Largest Fund Managers Fund Launches Fund Searches
More informationU. S. S p o r t s B e t t i n g a n d I n t e r a c t i v e G a m i n g J o i n t V e n t u r e. J u l y
U. S. S p o r t s B e t t i n g a n d I n t e r a c t i v e G a m i n g J o i n t V e n t u r e J u l y 2 0 1 8 L e g a l D i s c l a i m e r s FORWARD-LOOKING STATEMENTS Statements in this presentation
More informationPerspectives July. Liability-Driven Perspectives. A Tale of Two Recessions. Liabilities Do Not Have Downgrade Risk, Bonds Do
PGIM FIXED INCOME Perspectives July 2015 Liability-Driven Perspectives A Tale of Two Recessions The Effect of Credit Migration on Liability-Driven Investment Portfolios Tom McCartan Vice President, Liability-Driven
More informationPREQIN SPECIAL REPORT: ALTERNATIVE METHODS OF INVESTING IN INFRASTRUCTURE MAY alternative assets. intelligent data.
PREQIN SPECIAL REPORT: ALTERNATIVE METHODS OF INVESTING IN INFRASTRUCTURE MAY 2017 alternative assets. intelligent data. SOURCE new investors for funds or deals IDENTIFY new investment opportunities CONDUCT
More informationCAMPUS CAREERS INVESTMENT GROUPS BUILD STRATEGIES
ABOUT BlackRock was founded 28 years ago by eight entrepreneurs who wanted to start a very different company. One that combined the best of a financial leader and a technology pioneer. And one that focused
More informationForward-Looking Statements
Forward-Looking Statements The following information contains, or may be deemed to contain, forwardlooking statements. By their nature, forward-looking statements involve risks, assumptions and uncertainties
More informationAccessing US Real Estate: Navigating the Capital Stack Maze
Accessing US Real Estate: Navigating the Capital Stack Maze Investment in US Real Estate & Debt ULI/Mayer Brown Seminar Frankfurt, Germany Paul E. Meyer Partner +1 312 701 7182 pmeyer@mayerbrown.com 28
More informationGlobal Multi-Sector (GMS) Strategy
Global Multi-Sector (GMS) Strategy In today s volatile environment, the ability to allocate tactically across global markets is of ever increasing importance. Many investors may be looking to draw on a
More informationMSCI Economic Exposure Indices
Contents Section 1: Introduction... 2 Section 2: Index Construction Methodology... 3 Section 3: Maintaining... 4 Appendix I: Determination of Company Level Economic Exposure... 6 Appendix II: Target Number
More information!!!1!!!!!!!!!!!!!!!!!!!!!!!!!!!!! The Association of Real Estate Funds & Property Funds Research
1 The Association of Real Estate Funds & Property Funds Research Global Real Estate Funds Review H1 216 Contents CONTENTS 2 EXECUTIVE SUMMARY 3 UNLISTED FUND UNIVERSE: OVERVIEW (EX FOF) 6 UNLISTED FUNDS
More informationPrincipal Global Investors. Investment expertise with a purpose
Principal Global Investors Investment expertise with a purpose 1 Whether you re investing personally or on behalf of your business, you want an investment manager who empowers you to reach your financial
More informationAn Increasingly Attractive Global Secondary Opportunity D ECEMBER 2015 REAL ASSETS:
An Increasingly Attractive Global Secondary Opportunity D ECEMBER 2015 REAL ASSETS: 2 HarbourVest Partners In recent years, global real assets sectors such as energy, power, infrastructure, and natural
More informationF 10 STANDING COMMITTEES. Finance and Asset Management Committee. Comparative Performance and Asset Allocation INFORMATION
STANDING COMMITTEES F 10 Finance and Asset Management Committee Comparative Performance and Asset Allocation INFORMATION This item is being presented for information only. Max Senter from Cambridge Associates
More informationAustralia Private Equity & Venture Capital Index and Benchmark Statistics. June 30, 2017
Australia Private Equity & Venture Capital Index and Benchmark Statistics Disclaimer Our goal is to provide you with the most accurate and relevant performance information possible; as a result, Cambridge
More informationRequest for Proposals Investment Management Services
Request for Proposals Investment Management Services Deadline: March 19, 2018, 4:00 P.M. Questions concerning this solicitation must be submitted by March 9, 2018, 11:30 a.m. at mvalletta1@ric.edu. Questions
More informationRBS UK Balanced Sector Index
RBS UK Balanced Sector Index What is an index? An index is a tool for measuring the performance of a collection of financial assets. It may, for example, be composed of shares in companies from a specific
More informationUS PE / VC Benchmark Commentary Quarter Ending September 30, 2016
US PE / VC Benchmark Commentary Quarter Ending September 30, 2016 Overview Third quarter 2016 returns for the Cambridge Associates LLC US Private Equity Index and the Cambridge Associates LLC US Venture
More informationMSCI Islamic Index Series Methodology
1. Definition The MSCI Islamic Index Series (the Islamic Indices ) follow Sharia investment principles. An Islamic Index is based on an MSCI Equity Index (or any combination of MSCI Equity Indices), but
More informationInvestment Management
ASSET management Investment Management Hanson Asset Management Who We Are Hanson Asset Management provides investment management and advisory services globally to wealthy families, high net worth individuals
More informationJanet Balaskas Active Birth Workshop Teacher Training Full Certification Agreement Logo TM
Janet Balaskas Active Birth Workshop Teacher Training Full Certification Agreement Logo TM NAME (Block capitals please): This agreement applies to those who intend to teach this workshop in a private capacity
More informationThe Basics of Real Estate Investment Trusts (REITs)
Feature: REITs 2018 by the American Association of Individual Investors, 625 N. Michigan Ave., Chicago, IL 60611; 800-428-2244; www.aaii.com. The Basics of Real Estate Investment Trusts (REITs) By Jaclyn
More informationAsia Outlook. Hiring Forecast FPL ADVISORY GROUP FERGUSON PARTNERS FPL ASSOCIATES FPL CONSULTING
Asia Outlook Hiring Forecast 2016 Capital Continues to Flow from East to West Focus on Core Assets in Asia-Pacific Investors in Japan Climb the Risk Curve China s Opportunistic Debt Market FPL ADVISORY
More informationSignature Perspectives Dynamic Global Asset Allocation
Signature Perspectives Dynamic Global Asset Allocation Signature Funds Portfolios Dynamic Global Asset Allocation As of 30 June 2012 Performance Review Investment Objective Seeks capital appreciation over
More informationSupplemental Information Earnings Call
Supplemental Information Earnings Call Fourth-Quarter 2015 Market volume & outlook JLL Research Investment volumes remain solid; outlook steady Market Volumes Actual Forecast Capital Markets (1) LC USD
More informationCambridge Associates LLC Australia Private Equity & Venture Capital Index And Selected Benchmark Statitics Private Investments.
CAMBRIDGE ASSOCIATES LLC Cambridge Associates LLC Australia Private Equity & Venture Capital Index And Selected Benchmark Statitics Private Investments December 31, 2010 Official Performance Benchmark
More informationAfrica Private Equity & Venture Capital Index and Selected Benchmark Statistics
Official Performance Benchmark of Africa Private Equity & Venture Capital Index and Selected Benchmark Statistics Composition and History of the Africa Private Equity & Venture Capital Index The Africa
More informationPreqin Investor Outlook: Private Equity H2 2016
Preqin Investor Outlook: H2 2016 alternative assets. intelligent data. Investor Appetite High Despite Uncertainty in the Market Section Two: At the start of the year, the Preqin Investor Outlook: Alternative
More informationPREQIN SPECIAL REPORT: VENTURE CAPITAL FUND MANAGER OUTLOOK
PREQIN SPECIAL REPORT: VENTURE CAPITAL FUND MANAGER OUTLOOK H1 2018 PREQIN SPECIAL REPORT: VENTURE CAPITAL FUND MANAGER OUTLOOK, H1 2018 FOREWORD Venture capital is a unique strategy with characteristics
More informationBank of America Merrill Lynch The Future of Financials Conference. November 6, Citi Investor Relations
Citi Investor Relations Bank of America Merrill Lynch The Future of Financials Conference November 6, 2018 Francisco Aristeguieta CEO, Citigroup Asia Pacific Agenda Franchise Overview Asia Institutional
More informationinvestment teams in a boutique the global leader
investment teams in a boutique e n v i ro n me n t + the global re s o u rc e s o f a f i n a n c i a l s e r v ice s leader Who We Are A global asset manager with expertise across a full range of asset
More informationGoldman Sachs 2012 Lodging, Gaming, Restaurant and Leisure Conference. June 5, 2012
Goldman Sachs 2012 Lodging, Gaming, Restaurant and Leisure Conference June 5, 2012 Forward Looking Statements This quarterly report contains forward-looking statements within the meaning of the Private
More informationUBS Clarion Global Property Securities Fund. Quarterly investment report to 31-Dec-17
UBS Clarion Global Property Securities Fund Quarterly investment report to 31-Dec-17 Performance comments Before fees and expenses, the portfolio rose by 4.87% over the quarter, outperforming its benchmark.
More information2009 Professional Compensation Survey Asset Management
Executive Summary Total Compensation for Risk Professionals in Dips Below 2004 Levels After a challenging year in the financial services industry, the 2009 Risk Talent Associates Professional Compensation
More informationICB PUBLICATIONS. Industry Classification Benchmark (ICB).
ICB PUBLICATIONS Industry Classification Benchmark (ICB). A single standard defining the market. The Industry Classification Benchmark (ICB) is a definitive system categorizing over 70,000 companies and
More informationThe commentary provided is based on the information provided by Cerberus Capital Management, L.P. to Pioneer Investments.
Update: DR Funds January 2013 Alternative Relevant Fund of Hedge Funds: Special Investment Class Fund, DR AllWeather Fund, DR2 AllWeather Fund, DR AllWeather Strategies II Fund, DR2 AllWeather Strategies
More informationBrokerage and Capital Markets
Brokerage and Capital Markets The Dubai International Financial Centre (DIFC) is the financial hub for the Middle East, Africa and South Asia, providing a world-class platform connecting this region s
More informationNORTHERN TRUST CORPORATION
NORTHERN TRUST CORPORATION Steven L. Fradkin Executive Vice President & Chief Financial Officer Merrill Lynch Banking & Financial s Conference New York City November 13, 2008 2008 Northern Trust Corporation
More informationU.S. Healthcare Reform
U.S. Healthcare Reform Five Years after the ACA and Its Impact on Businesses Hayley Xuereb, Ph.D, / Managing Director, Core Select Healthcare Analyst Over five years after the Affordable Care Act (ACA),
More informationEnhancements to the MSCI 10/40 Equity Indices
Enhancements to the MSCI 10/40 Equity Indices Consultation Document April 2005 Introduction to the consultation MSCI is consulting with investors on various approaches to enhance the MSCI 10/40 Indices
More informationMid-Year Survey of Hedge Fund Investor Sentiment. Summer Capital Services. Credit Suisse
Credit Suisse Capital Services Mid-Year Survey of Hedge Fund Investor Sentiment Summer 2017 Credit Suisse Credit Suisse AG is one of the world's leading financial services providers and is part of the
More informationUSE OF NDRS & SELL-SIDE CONFERENCES Among Senior IROs in German-Speaking Countries
USE OF NDRS & SELL-SIDE CONFERENCES Among Senior IROs in German-Speaking Countries APRIL 2017 RESEARCH SUPPORTED BY: INTRODUCTION AND METHODOLOGY Results based on online surveys completed in March of 2017
More informationPinsent Masons in Spain
Pinsent Masons in Spain Pinsent Masons in Spain Pinsent Masons is a sector focussed global law firm. Our strategy is to invest in geographies that connect our clients to where they want to do business.
More informationMay Global Growth Strategy
May 2012 Global Growth Strategy Jones Lang LaSalle Global Growth Strategy G1 G3 Build our local and regional leasing and capital markets businesses G5 Connections Capture the leading share of global capital
More informationDISCLOSEABLE TRANSACTION JOINT VENTURE WITH CAESARS IN INCHEON, THE REPUBLIC OF KOREA
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness
More informationPresentation Global private equity trends
Presentation Global private equity trends Alex Scott Partner Pantheon Ventures Global Private Equity Trends Alex Scott July 2018 Hitting the headlines IPOS ARE DWINDLING, SO IS THE NUMBER OF PUBLIC COMPANIES
More informationMid-Year Survey of Hedge Fund Investor Sentiment
Mid-Year Survey of Hedge Fund Investor Sentiment Credit Suisse Capital Services July 2014 Credit Suisse Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit
More informationSGX reports 3Q FY2017 net profit of $83 million
News Release 20 April 2017 SGX reports 3Q FY2017 net profit of $83 million 3Q FY2017 Financial Summary Revenue: $203 million, down 2% from a year earlier Operating profit: $103 million, unchanged Net profit:
More information2005 Professional Compensation Survey Asset Management. 1. Executive Summary
1. Executive Summary The 2005 Risk Talent Associates Professional Compensation Survey reveals that total compensation for risk professionals in asset management grew an average of 15% in 2005 over 2004.
More informationAn introduction. May 2018
An introduction May 2018 Our strategy To grow our specialist asset management activities 2 Invest selectively Grow assets under management Manage portfolios to maximise value Generate strong shareholder
More informationNorthern Trust FOCUS on the Changing Paradigm of the Wealth Management Business
Northern Trust FOCUS on the Changing Paradigm of the Wealth Management Business Jana Schreuder President, Personal Financial Services October 3, 2012 2012 Northern Trust Corporation Mission Statement &
More informationGateway to real estate. opportunities & expertise
Gateway to real estate opportunities & expertise Meeting clients needs is always top of mind. The strength of our market connections and of our insights makes it possible for us to do that. Todd Everett,
More informationSPECIALIST EXPERTISE MULTI-JURISDICTIONAL COVERAGE. Private Equity Fund Administration Services
SPECIALIST EXPERTISE MULTI-JURISDICTIONAL COVERAGE Private Equity Fund Administration Services SOPHISTICATED FUND ADMINISTRATION FOR A UNIQUE ASSET CLASS Receive specialist knowledge, exceptional expertise
More informationF U L L Y E A R R E S U L T S P R E S E N T A T I O N
2 0 1 6 F U L L Y E A R R E S U L T S P R E S E N T A T I O N Caution statement No representations or warranties, express or implied are given in, or in respect of, this presentation or any further information
More informationIP ISSUES IN MERGERS & ACQUISITIONS
IP ISSUES IN MERGERS & ACQUISITIONS Louis Beardell, James Carrigan, and Rachelle Dubow June 6, 2017 2016 Morgan, Lewis & Bockius LLP Key IP Issues in Mergers & Acquisitions I. IP due diligence: scope,
More informationBanking, Financial Services, and Insurance (BFSI) Outsourcing Report: August 2011 Preview Deck
Banking, Financial Services, and Insurance (BFSI) Outsourcing Report: August 2011 Preview Deck Topic: IT Applications Outsourcing in Insurance Trends and Future Outlook Background and scope of the research
More information2010 Professional Compensation Survey Asset Management
Executive Summary Return to Bonus Growth for Risk Professionals in The 2010 Risk Talent Associates Professional Compensation Survey reveals that total compensation for risk professionals in asset management
More informationdiversification Levels of Multi-Asset (MA) Passive Funds
diversification Levels of Multi-Asset (MA) Passive Funds LEVELS OF DIVERSIFICATION At Architas we believe that diversification is central to any investment portfolio. Being too concentrated in any one
More informationC$1.1 trillion (US$850 billion). US$394 billion.
Manulife Financial Corporation (Manulife) is a leading international financial services group that traces its roots and investment management experience back to the 1800s. As at 31 March 2018, assets under
More informationS&P DOW JONES INDICES AND MSCI ANNOUNCE REVISIONS TO THE GLOBAL INDUSTRY CLASSIFICATION STANDARD (GICS ) STRUCTURE IN 2016
S&P DOW JONES INDICES AND MSCI ANNOUNCE REVISIONS TO THE GLOBAL INDUSTRY CLASSIFICATION STANDARD (GICS ) STRUCTURE IN 2016 New York, November 10, 2014 - S&P Dow Jones Indices, a leading provider of financial
More informationSegmental reviews. Transaction Advisory
The Savills Group advises on commercial, rural, residential and leisure property. We also provide corporate finance advice, investment management and a range of property related financial services. Operations
More information