SEI taps Lazard, Delaware Investments as subadvisers
SEI Institutional Investments Trust hired
Lazard Asset Management as subadviser of its SIIT World Equity Ex-U.S. Fund and SIIT Screened World Equity Ex-U.S. Fund, and hired
Delaware Investments Fund Advisers as subadviser to the World Equity Ex-U.S. Fund, the company disclosed Tuesday in an SEC filing.
The filing also noted the removal of Baillie Gifford as subadviser to the two funds. An SEI spokeswoman confirmed that the change was made because the firm was looking to allocate the assets to a higher-conviction strategy.
SIIT World Equity ex-U.S. had $10 billion in assets as of Jan. 31. SIIT Screened World Equity ex-U.S. had $117 million.
New Jersey preps search for emerging markets, international small-cap equity
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New Jersey Division of Investment, which handles investments for the New Jersey Pension Fund, Trenton, will issue an RFP next month for investment advisers to provide non-discretionary advice for emerging markets equity and international small-cap equity.
The division described its intention Wednesday in a report to the State Investment Council, which formulates policy for the division, a unit of the state Department of the Treasury.
The division currently has five emerging markets investment advisers, the report said. These firms provide non-discretionary investment advice for a total market value of about $5.7 billion of the pension fund s $83.3 billion in assets, the report said.
10 Biggest Quant Funds in The World, 10 Stock Picks
Quant hedge funds saw massive losses in 2020 as machine powered strategies failed to accurately predict the unprecedented market trends. Quant equity hedge funds mainly struggled due to the introduction of new market trends in the pandemic year, which have no previous precedent. This is contrary to quantitative trading strategies that study a large amount of historic data to predict future trends. Quant hedge funds are blaming increased volatility for hefty losses.
Volume, price, and historical data are among the big factors when it comes to quantitative analysis.
“If nothing else, it’s clear that 2020 represents an Achilles’ heel in the hedge fund machines, namely a real failure to grapple with unique new drivers of stock returns that don’t fit the academic models. Even the newer ‘machine learning’ approaches felt somewhat impotent since you need to learn from something, and probably rack up losses while you’re lea
Mississippi axes Longview from global equity portfolio
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Mississippi Public Employees Retirement System, Jackson, terminated Longview Partners as one of its four global equity managers.
The $29.9 billion pension plan approved the termination at a board meeting on Dec. 15, a spokeswoman said in an email.
Longview, which was put on watch in October, was terminated due to a combination of investment team and executive team changes as well as performance, she said.
As of Sept. 30, Longview managed $756 million, or 20.8% of the pension fund s $3.6 billion total global equity allocation. The assets managed by Longview will be moved into the Northern Trust Global Index Fund, managed by Northern Trust Asset Management,the spokeswoman said. It wasn t known whether the pension fund would look for another global equity manager as a result of the termination.
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