CIO Commentary – Second Quarter 2022

CIO Commentary – Second Quarter 2022

Asset allocation is perhaps the single most important determinant of over/underperformance when it comes to delivering returns to investors.  This has always been a complex endeavor, but it seems despite having seen a full spectrum of macro issues to digest over the...
CIO Commentary – First Quarter 2022

CIO Commentary – First Quarter 2022

The unwinding effects of the post pandemic government fiscal and monetary stimulus is now underway. Excessive liquidity creation during that period first flowed into the capital markets (mostly risk assets) but now this has essentially “spilled over” into the...
CIO Commentary – Fourth Quarter 2021

CIO Commentary – Fourth Quarter 2021

I am opening this quarter’s comments in the face of the continuing war in Ukraine, and accordingly I write with complete solace and respect for the people of Ukraine, who are fighting for their lives. I consciously try to keep politics and emotions out of these...
CIO Commentary – Second Quarter 2021

CIO Commentary – Second Quarter 2021

The quarter was a strong one for our private equity heavy portfolios, the reasons of which are highlighted in our quarterly reports. Public equity markets have also been exceptionally strong, and the pundit debate seems to remain centered upon: whether inflation is...
CIO Commentary – First Quarter 2021

CIO Commentary – First Quarter 2021

Economies are now at different stages of reopening which is correspondent to the degree to which local populations have become vaccinated and/or new COVID-19 cases have abated. This is contributing to shortages of certain goods that were disrupted by manufacturing...