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CloseChronicles of an Allocator
A curated newsletter to equip investment professionals to think like an allocator.
Latest Issue
Issue 61: May 2025
Authored by Nick Pollard, Managing Director, CAIA APAC, and Joey Chan, CFA, FCCA, CPA, Director, External Relations, CAIA APAC
The penguins of Heard and MacDonald Islands may be unfazed by U.S. tariffs, but for investors across Asia, it’s a very different climate.
When the U.S. launched its 2025 tariff wave, the ripple effect hit Asia fast. Exits slowed. Valuations got foggy. And allocators were left asking: now what?
In the latest issue of Chronicles of an Allocator, Nick Pollard, Managing Director, CAIA APAC and Joey Chan, Director, CAIA APAC External Relations, unpack how tariffs are shaking up private markets across Asia by stoking volatility, complicating exits, and reshaping opportunity sets in PE, VC, credit, real estate, and more.
Past Issues
Issue 60: April 2025
Authored by Laura Merlini, CAIA, CIFD, Managing Director, EMEA and Eva Katsoulakis, UniFi by CAIA™
A financial revolution is unfolding. By 2030, women will control 38% of investable assets—a staggering $30 trillion in financial power. But here’s the real question: Is the industry ready?
In this edition of Chronicles, co-authors Laura Merlini, CAIA, CIFD, Managing Director, CAIA EMEA and Eva Katsoulakis, UniFi by CAIA™ explore how women are reshaping wealth management, the rise of gender-lens investing, and why female financial advisors are uniquely positioned to lead.
Issue 59: March 2025
Authored by Aaron Filbeck, CAIA, CFA, CFP®, CIPM, FDP, Managing Director of Global Content Strategy
Can investment models actually help—or are we all just playing a high-stakes game of financial Tetris? The Collaborative Model isn’t just another framework, it’s a method asset owners have used to reduce costs, improve returns, and collaborate strategically (without giving up control!). But how does it really work? And how does it compare to the Total Portfolio Approach?
In the latest edition of Chronicles, Aaron Filbeck, Managing Director of Global Content Strategy breaks it all down—along with delving into how CalSTRS, OCERS, and others are using this model to rethink investing.
Issue 58: February 2025
Authored by Steven Novakovic, CAIA, CFA, Managing Director, Educational Programs
For years, crypto evolved in a regulatory gray area—fast-moving, volatile, and driven by speculation. But now, as U.S. regulators step in, digital assets are entering a new phase. With the United States finally embracing digital assets, what does this mean for the rest of the world? Are we witnessing the start of a new era, or is this just another false start?
In the latest issue of Chronicles, Steve Novakovic, CAIA, CFA takes a closer look
- How shifting U.S. regulations could impact crypto adoption,
- Why institutional investors are more confident in ramping up exposure,
- And the important roles of governments in the crypto ecosystem.
Issue 57: January 2025
Authored by John L. Bowman, CEO
You’ve probably heard us say often, “everything is an alternative.” What we’re really getting at is the world of investment management is shifting fast. It’s getting harder to neatly label asset classes, products, or liquidity profiles—it’s all starting to blur.
As we step into 2025, we’re focused on helping you navigate the “great convergence” — a transformational shift reshaping business models and investment processes.
In this issue of Chronicles, CAIA CEO, John L. Bowman, CFA breaks down this emerging trend:
- What’s driving the blurring of lines between traditional and alternative assets?
- Why the old benchmarks and categories may no longer make sense.
- And what it all means for you, whether you're managing portfolios or preparing for tomorrow’s capital markets.
The shift is here, and the implications are bigger than you think.
Ready to explore what’s next?
Issue 56: December 2024
Authored by Aaron Filbeck, CAIA, CFA, CFP®, CIPM, FDP, Managing Director, Global Content Strategy
In this issue of Chronicles of an Allocator, Aaron Filbeck, Managing Director of Global Content Strategy at CAIA, draws inspiration from The Hitchhiker’s Guide to the Galaxy to explore the staggering growth of the alternatives industry and what it means for you in 2025. From lagging values to optional(?) reporting, this galaxy is full of twists, turns, and hidden black holes.
But don’t worry, we’ve got the towel. He shares insights and some grounded perspectives to help you make sense of this ever-expanding market.
Issue 55: November 2024
Authored by Nick Pollard, Managing Director, CAIA APAC, and Joey Chan, CFA, FCCA, CPA, Director, External Relations, CAIA APAC
In this month’s issue of Chronicles of an Allocator, our authors present a compelling view of APAC's booming investment landscape. From mega-financial hubs like Hong Kong and Singapore to the tech-savvy innovation pouring out of this region, you’ll see why APAC is capturing the imagination of investors worldwide.
The future is shifting eastward. Are you ready to explore?
Issue 54: October 2024
Authored by Christie Townsend
As the year winds down, we've been thinking about a question that's sparked debates among the best minds in the industry: What really makes a great investor?
Spoiler alert: it’s not just about those shiny track records or lucky streaks.
In this month’s issue of Chronicles of an Allocator, "Student of the Markets: What Actually Makes a ‘Great’ Investor?”, Christie Townsend, Director, Content and Research, CAIA Association explores what it means to be a true student of the markets—beyond the benchmarks and into the mindset that sets the great apart from the good.
Issue 53: September 2024
Authored by Steven Novakovic, CFA, CAIA
In this month’s issue of Chronicles of an Allocator, "Plus ça change, plus c'est la même chose", we explore how evolving market trends mirror age-old investment principles, reminding us that despite the changes, some fundamentals remain timeless.
Ever feel like keeping up with venture capital is like trying to catch a train that’s already pulling away? You’re not alone.
Chronicles contributor, Steven Novakovic, CAIA, CFA, Managing Director, Curriculum, CAIA Association offers a look into the ever-changing (yet strangely familiar) landscape of private equity.
Issue 52, July/August 2024
Authored by Laura Merlini, CAIA, CIFD
In this month’s issue of Chronicles of an Allocator, we make a connection between the distant past and the modern African Continent. Chronicles contributor, Laura Merlini, CAIA, CIFD, Managing Director, CAIA EMEA, crafts a captivating parallel between Herodotus, the ancient traveler and historian, to Africa's emerging opportunities of today.
You’ll discover how Africa, a diverse mosaic of 54 countries, is pioneering green economies, renewable energy, and digitalization. With significant elections and economic integration on the horizon, the continent is primed for growth.
IN THIS ISSUE:
- African Economic Outlook 2024 by African Development Bank
- The 2024 Africa Wealth Report by Henley & Partners
- AVCA Venture Capital in Africa Report 2024
Issue 51, June 2024
Authored by Aaron Filbeck, CAIA, CFA, CFP®, CIPM, FDP
In this month’s issue of Chronicles of an Allocator, we take on the debate over including private assets in 401(k) plans. Chronicles contributor, Aaron Filbeck, CAIA, CFA, CFP®, CIPM, FDP, Managing Director, Head of UniFi by CAIA™ points out that the discussion is an ongoing one, and the conversation has only intensified since the Pantheon and Partners Group’s Letter to the Department of Labor in June 2020 argued for private equity’s inclusion in fund lineups.
Aaron delves into both sides of the case for integrating asset classes like private equity, real estate, and infrastructure into defined contribution schemes, and wraps it up with a possible path forward. Get a ringside seat to the debate!