Instead, these investments would rely more heavily on active management--things like emerging market equity and debt funds, domestic high-yield bonds, small cap equities, real estate and private equity.
Allocations to equities and equity-based funds rose 1.5 percentage points to 62.9%.
It made light bets in plain old stocks and bonds and went hell-for-leather into exotic and illiquid holdings: commodities, timberland, hedge funds, emerging-market equities and private equity partnerships.
That's a nice way of saying that during recent years the Harvard Management Company, the university's investment subsidiary, diverted large portions of the university's endowment assets out of safe but poky low-yield securities (as of last June fixed-income investments accounted for only 16% of Harvard's portfolio) and into what this Forbes story describes as "exotic financial instruments": derivatives, hedge funds, private equity partnerships, commodities and emerging-market equities.
Public equities surged but we at CircleUp, an equity-based crowdfunding platform focused on consumer and retail companies, were equally excited.
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Coupled with that, I do want to say that what I feel is one of the best investments out there for anybody who wants to play the equity markets is actually derivative equities, and that would be a high-yield or junk bond.
Consultant conflicts may be responsible for over-allocations into equities since consultants may derive substantial brokerage income from equity managers they recommend.
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For the Hedged Equity Fund, portfolio managers will take long positions--the outright purchase of equities--primarily in stocks that have ratings of A or B and short positions primarily in stocks that have ratings of D or F.
He also said the sharp rally in equities on Friday may have encouraged unwinding of long gold-short equity trades.
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When choosing stocks, he concentrates on finding the right sector first and then drills down to equities with relatively attractive price-to-sales ratios and return on equity.
In an e-mail to investors, Trip Chowdhry, the Managing Director of Equity Research at Global Equities Research, revealed the findings from his analysis of the patents that belong to Apple, Samsung, and Google (NASDAQ: GOOG).
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But according to the Investment Management Association, the British fund-management industry's trade body, an equity unit trust has to have 80% in equities.
However, with the bank focusing on expanding its equities business considerably in subsequent years to achieve a top-three spot in global equity standings, the annual growth may very well be a double-digit number if DB finds the right formula for growth.
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The equity risk premium is usually viewed as the extra return that investors demand for holding equities rather than risk-free bonds.
But, so far, neither private-equity firms nor the big four are showing much interest in Havas, says Nicolas Gindre at Kepler Equities, a brokerage.
For not all bonds are created equal, and investors may be unwittingly increasing their exposure to equity risk by allocating portions of their fixed income exposure to high-yield bonds, which behave much like equities.
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The eight, including Robert Karofsky , Morgan's U.S. head of cash equity trading, are jumping ship after Morgan Stanley's equities group posted the best revenues since mid-2001, driven by success in Morgan's prime brokerage group.
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