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Investor Spotlight: KWAP - navigating technological shifts in quant equities
Kumpulan Wang Persaraan (Diperbadankan) (KWAP) is Malaysia’s public sector pension fund and a key government-linked investment...
Semi-liquid funds: managing the structural liquidity mismatch
Redemptions from US semi-liquid private credit funds continue to dominate the headlines. Often presented in absolute terms – 'billions...
Investment Management Fees: Pricing pressure in the turbulent twenties
The latest instalment in the bfinance Fee and Cost Insight series highlights recent price pressures in both private and public markets as...
Why don’t MAC strategies typically include emerging market debt?
Emerging market debt offers yields that are hard to ignore. Yet across 47 MAC strategies reviewed by bfinance, a half allocated less than...
Infographic: private capital and German ‘place-based investing’
Governments are seeking to turn investors' attention closer to home in pursuit of resilience – Germany is at the forefront of efforts to...
How might a normalisation of credit spreads impact returns?
Since the 2007/08 Global Financial Crisis, aggressive monetary easing, prolonged low interest rates and repeated policy backstops have...
bfinance poll: investors gain edge in private market fees
Disappointing distributions, weak returns and a softer fundraising climate now appear to be putting real pricing power in investors’...
Secondaries under scrutiny: layer cake or traffic jam?
Private market secondaries are booming – but are they creating a welcome 'layer cake' of liquidity solutions, or a 'traffic jam' that...
Manager Intelligence and Market Trends - May 2026
bfinance's quarterly report for May 2026: read the team's latest insights on institutional investor activity, risk appetite, market...
Why investors can still rely on the negative equity/bond diversification free lunch
A simultaneous sell‑off in equities and bonds made March 2026 an uncomfortable month for investors. As the Iranian conflict escalated into...
German infrastructure – what will it take to unlock domestic investment opportunities?
There has been considerable excitement in markets around the rollout of Germany’s new fiscal spending plans. Last year’s historic...
Global Infrastructure Survey – Three Takeaways as Broad Enthusiasm Gives Way to Selectivity and Precision
Although institutional investors still report widespread satisfaction and conviction toward the ‘infrastructure asset class,’ a new...
The ‘GP Stakes’ Debate: Overlooked Opportunity or Canary in the Coalmine?
An apparent fundraising slump for ‘GP Stakes’ funds offers a fascinating window into the current tensions within the illiquid investment...
Managing Currency Exposures in the ‘New World Disorder’
For many institutional investors, foreign currency exposures have often been treated as an afterthought to the central job of asset...
Hedge Funds: Are Push and Pull Dynamics Coming into Rare Alignment?
The'pull' of strong performance is combining with 'push' factors (related to concerns around the effectiveness of traditional asset...
Manager Intelligence and Market Trends - February 2026
bfinance’s quarterly report in February 2026: read the team’s latest insights on institutional investor activity, risk appetite, market...
As Private Market Secondaries Soar, Investors Must Demand Discipline
Fundraising for secondary investments in illiquid asset classes—such as private equity, infrastructure and private credit—has...
Beyond the Hype: How AI Is Changing Equity Investing
While many equity managers claim to use AI to generate alpha or achieve productivity gains, distinguishing genuine innovation...
The Profitability Problem: Three Ways for Wealth Managers to Counter Fee Compression
Wealth managers face mounting pressure to deliver more for less. Cost-aware clients, digital disruption and regulatory demands...
How to Build a Hedge Fund Allocation
Hedge fund portfolio construction has changed. This brief paper outlines key considerations for developing ‘liquid alternatives’...
Insurance-linked Securities: Key Questions for Manager Selectors
The Insurance-linked Securities (ILS) sector has recovered strongly and institutional investor appetite for this highly...
As Investors Rethink FX, Are Hidden Costs Being Overlooked?
US dollar volatility in 2025 and evolving macroeconomic conditions have led many investors to re-evaluate FX management. Yet,...
Back in the Black? Real Estate 'Recovery' Raises Strategy Selection Questions
One-year returns are back in positive territory for Core and Core-plus real estate funds, while industry figures continue to...
Investors Must Scrutinize ‘Performance Detractors’ in Semi-liquid Private Markets
How can investors guard against the risk of underperformance in semi-liquid private market funds? While some degree of...
Manager Intelligence and Market Trends - November 2025
bfinance’s quarterly report in November 2025: read the team’s latest insights on institutional investor activity, risk appetite,...
India Equity: DNA of a Manager Search
With structural tailwinds and strong historical outperformance by active managers, India Equity strategies are increasingly...
Are Liquid Private Markets Solving a Problem that Liquid Alternatives Already Addressed?
In today’s pursuit of diversification without sacrificing liquidity, wealth managers are offered a new generation of liquid...
Are your Private Market Investment Fees correct?
The high cost of illiquid investments has long represented a key area of focus for investors. Yet, despite some positive...
Private Equity Secondaries: Sector in Brief
Private equity secondaries are booming—again. Following a 45% uptick in transaction volumes during 2024, market momentum has...
Managing Equity Risk in the Dutch Pension Transition
As Dutch pension funds prepare for the shift to the new pension contract under the Wet Toekomst Pensioenen (WTP), the industry...
ROI, But Not As You Know It
Return on Investment” (ROI) is a well-known concept in finance and usually means one thing: how much your portfolio or...
Manager Intelligence and Market Trends - August 2025
bfinance’s quarterly report in August 2025: read the team’s latest insights on institutional investor activity, risk appetite,...
The Valuation Question: Operational Risk in Private Markets
The UK Financial Conduct Authority (FCA) recently released its findings from a multi-firm review on valuation practices in...
Private Markets for Private Wealth: Democratisation vs. Retailisation
Once the preserve of institutional investors, private markets are now becoming an essential part of wealth management...
