Uncovering the Unobservable: Have Private Assets Outperformed Public Assets?
IAS's Fair Comparison framework uncovers the real-world performance of private assets, comparing private and public assets on a consistent risk-adjusted basis.
Given the growth in illiquid asset allocations, good portfolio liquidity management must integrate a fund’s liquidity demands and sources over a long horizon and measure the consequences of large external liquidity demands, especially in adverse markets.
A strong liquidity management role would quantify a fund’s liquidity risk across many scenarios and identify at-the-ready external liquidity facilities.
High-quality liquidity management can enhance portfolio performance by recognizing the opportunity cost of holding too much liquidity.
Reprinted with permission from the Nummer 2 2023 edition of Financial Investigator.
The IAS team conducts bespoke, quantitative client research that focuses on asset allocation and portfolio analysis.
Learn More
IAS's Fair Comparison framework uncovers the real-world performance of private assets, comparing private and public assets on a consistent risk-adjusted basis.
We examine how DB plan CIOs facing high funding ratio and a PRT might “get ready” for portfolio challenges by adjusting their private asset commitment pacing.
Pending receipt of the GP NAVs, LPs grapple with getting a real-time NAV for risk management and rebalancing purposes. What LP method has performed the best?