Tag: Liquidity

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Improving Alpha: Jim Bethea on Resetting the Learning Process of Endowment Performance

Improving Alpha: Jim Bethea on Resetting the Learning Process of Endowment Performance

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​Many talented endowment CIOs evolve from engineering backgrounds, consultancies, and other disciplines. These past experiences allow CIOs to transform investment office teams, broadening the search for alpha through improved portfolio construction, balancing liquidity concerns, outpacing endowment peers, and creating an environment where investment staff are valued for their continued contributions.

On the latest Improving Alpha podcast, Michael Oliver Weinberg is joined by Jim Bethea, CFA, CAIA, Chief Investment Officer, West Virginia University Foundation.

By the time this episode airs, Jim will have been in the WVU Foundation role for only a few months, but the insights that he provides from his time at RVK Consulting, the University of Iowa Center for Advancement, and now the WVU Foundation are priceless for institutional asset owners.  

Key takeaways from Jim Bethea’s discussion with Michael include:

  • What were the lightbulb moments that made Jim decide to make a switch to endowment portfolio management?
  • When sitting in the CIO seat at a major endowment, why should you look less at inflation and more towards fee spending and risk tolerance? Risk in PR, liquidity, etc.
  • What is Jim’s mindset when the campus needs capital, and how to navigate that when considering future fiscal year projections?
  • Staff buy-in and how that helps to accelerate an investment edge or interest level across the team on the search for alpha across various asset classes. More importantly, if there isn’t an edge in a given asset class, can beta be leveraged to generate median returns?
  • Why having an ESG policy might be hurting your approach to managing total portfolio returns.
  • How AI and future innovations in technology will be shaping his portfolio allocations.
  • Red flags in VC fund managers and why you should be worried as an endowment CIO if these managers start touting 3X gains.
  • Reshoring efforts, incremental capital destination with GPs, retaining staff, and more!

Resources:

Connect with Michael Oliver Weinberg: 

Connect with Jim Bethea:

About Our Guest:

Jim Bethea is the Chief Investment Officer of the West Virginia University Foundation. He oversees the management of the Foundation’s investment portfolio, bringing decades of experience in institutional investing, manager research, and portfolio construction. Prior to joining WVU, he served as the Senior Vice President and Chief Investment Officer at the University of Iowa Center for Advancement, where he led investment strategy and expanded the endowment’s portfolio diversification.

The information covered and posted represents the views and opinions of the guest and does not necessarily represent the views or opinions of Vidrio Financial, and/or our host, Michael Oliver Weinberg. The Content has been made available for informational and educational purposes only. The Content is not intended to be a substitute for professional investing advice. Always seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your investment planning.

The release date may not correspond to the recording date.

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Improving Alpha: Mazen Jabban on the Dangers of Delegating Away Allocator Innovation

Improving Alpha: Mazen Jabban on the Dangers of Delegating Away Allocator Innovation

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Navigating the world of technology innovations as a chief investment officer or portfolio manager is akin to a thrilling game of high-stakes poker or a graceful tango. Your success hinges on your ability to not just welcome incoming innovations but also effectively implement them, enhancing data transparency, boosting portfolio returns, and more.

In this episode of the Improving Alpha podcast, Michael Oliver Weinberg is joined by Mazen Jabban, Chairman & CEO, Vidrio Financial. Mazen details his journey on what led him to create Vidrio Financial, and how allocators should look at the paradigm shifts occurring in innovations across the investment community. 

Mazen further highlights: 

  • how the revolutionary impact of artificial intelligence and large language models (LLM) could shape the landscape for institutional investors.
  • the continued significance of transparency within the GP-LP relationship and the transformative influence of technology on these dialogues.
  • the investment for allocators to dedicate resources towards purchasing or constructing infrastructure to enhance data management practices..
  • how can institutional investors successfully implement a comprehensive portfolio strategy when faced with segmented teams spanning private equity, real estate, and hedge funds, each with their unique risk, data, and performance methodologies.
  • insights on private credit and the transformative potential of technology advancements for this asset class.
  • And more.

Resources:

Connect with Mazen Jabban:

Mazen Jabban is the Founder, Chairman, and CEO of Vidrio Financial, a New York-based company that provides institutional investors managing alternative investments with investment management solutions on a single platform. He is responsible for setting strategic direction and the firm’s product development roadmap. 

As an entrepreneur at heart, with years of experience in investment strategies, IT systems, management consulting, real estate development, and investment he is always looking for new ways to grow.

Connect with Michael Oliver Weinberg: 

The information covered and posted represents the views and opinions of the guest and does not necessarily represent the views or opinions of Vidrio Financial, and/or our host, Michael Oliver Weinberg. The Content has been made available for informational and educational purposes only. The Content is not intended to be a substitute for professional investing advice. Always seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your investment planning.

The release date may not correspond to the recording date.

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Improving Alpha: William J. Kelly, CAIA on disrupting data transparency in the institutional markets

Improving Alpha: William J. Kelly, CAIA on disrupting data transparency in the institutional markets

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As institutional investments become increasingly intricate, it is crucial to bring transparency (and perhaps even enlightenment) to both GPs and LPs. Large data sets and the scale of innovative technology shows no signs of decelerating for those seeking alpha. Serving as a cautionary tale for this installment of Improving Alpha, a famous quote by renowned British Economist Ronald H. Coase once said, “ if you torture the data long enough, it will confess to anything”.

Join Michael Oliver Weinberg as he sits down with William (Bill) J. Kelly, CAIA, President & CEO of the CAIA Association, in this captivating episode. In just :40 minutes, Bill shares his insightful perspectives on the ever-increasing regulation of private markets and the importance of data transparency. Dive into the fascinating world of AI and large language models, and explore the latest trends in ESG. Don’t forget to click on the audio play button at the top of this page to uncover even more valuable insights.

Further highlights cover: 

  • a brief overview of CAIA and FDP, explaining their origins and their roles in the alternative investments industry
  • the critical importance of being able to upskill and cross-skill the cast of characters that define the investment process, and how the process has changed over the last 10 years.
  • will artificial intelligence ever be able to build a comprehensive mosaic around cash flow, manager letters, and more.
  • learning what’s on the minds of larger allocators when it comes to increasing regulation by the SEC, and would real opinions be presented better with a ‘truth serum’ cocktail on data transparency.
  • the huge potential of doing well at one pillar of ESG, while simultaneously nuking another pillar. 
  • And more!

Connect with Michael Oliver Weinberg: 

Connect with William (Bill) Kelly:

About William (Bill) Kelly:

William (Bill) J. Kelly, CAIA is the President & CEO of the CAIA Association. Bill has been a frequent industry speaker, writer, and commentator on alternative investment topics around the world since taking the leadership role at the CAIA Association in January 2014. Previously, Bill was the CEO of Boston Partners and one of seven founding partners of the predecessor firm, Boston Partners Asset Management which, prior to a majority interest being sold to Robeco Group in Rotterdam in 2002, was an employee-owned firm. Bill’s career in the institutional asset management space spans over 30 years where he gained extensive managerial experience through successive CFO, COO, and CEO roles. In addition to his current role, Bill is a tireless advocate for shareholder protection and investor education and is currently the Chairman and lead independent director for the Boston Partners Trust Company. He has previously served as an independent director and audit committee chair for ’40 Act Mutual Funds and other financial services firms. He is also currently an Advisory Board Member of the Certified Investment Fund Director Institute which strives to bring the highest levels of professionalism and governance to independent fund directors around the world. A member of the board of the CAIA Association, Bill also represents CAIA in similar capacities via their global partnerships with other associations and global regulators. Bill began his career as an accountant with PwC and is a designated Audit Committee Financial Expert in accordance with SEC rules. 

The information covered and posted represents the views and opinions of the guest and does not necessarily represent the views or opinions of Vidrio Financial, and/or our host, Michael Oliver Weinberg. The Content has been made available for informational and educational purposes only. The Content is not intended to be a substitute for professional investing advice. Always seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your investment planning.

The release date may not correspond to the recording date.