In this study, we investigate if investors that have adopted investment strategies based on asset pricing anomalies documented in the academic literature (i.e., the low-beta, small cap, value, momentum, short-term reversal, and long-term reversal factors) consistently earn positive abnormal...

A growing number of institutional investors are unhappy with the exposures they have to long-term alternative asset classes, such as private equity, infrastructure and real estate. This frustration has little to do with the underlying assets. Rather, it relates to the sub-optimal access points...

In this paper we unpack the possibilities and constraints facing sovereign development funds. Our focus and logic is primarily conceptual and deductive rather than directly empirical and inductive. We consider how and in what ways sovereign wealth can be employed for the purpose of economic...

Sovereign wealth funds' (SWF) operations and strategies remain, in many cases, guarded secrets. While some confidentiality is understandable, a gap exists between what we'd like to know about SWFs and what most SWFs are willing to tell us. This report fills this information gap through proxy, by...

The idea of selling membership into society is not new, but it has taken on new life with the recent proliferation globally of Immigrant Investor Programs (IIPs). These programs involve the sale of national membership privileges to wealthy foreigners. They are justified by attractive policy...

In a slowing global economy with diminished confidence in the long-term prospects for public financial markets, many institutional investors are looking for innovative, alternative, and often private, investment strategies to meet elevated expected return targets. One source of potential...