Church Commissioners for England
6 statements across 1 episodes · 0 bullish · 2 bearish · 1 people on the record · first statement Apr 3, 2023 by Tom Joy · said 9 times in 1 episodes since 2023 · across every show →
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Apr 3, 2023 negative
Apr 3, 2023
Apr 3, 2023
Joy: Church Commissioners holds 13% to 14% in private equity, split evenly between buyout and VC
“So we've been in private equity investing since the mid-nineteen nineties. It's roughly about 13 to 14% of our overall book, which is a sizable amount, but it's not nearly as big as some other investors have. I'm happy with that. It's roughly split equal betwe…”
Apr 3, 2023 bearish
Joy: Aggregate hedge fund industry does not justify its fees
“If I was to talk generically about the hedge fund industry, I would say that probably on balance,
At an aggregate level, that industry doesn't justify its fees or its role in the portfolio, because on a net of fee basis, it's really not going to give clients …”
Apr 3, 2023
Joy lets manager access dictate Church Commissioners' venture capital allocation
“So I don't target a VC allocation. I target VC managers, and I will take what I can get from the managers that I'm targeting. We have a very concentrated book of managers, and our allocation, if you like, is what drops out of the access we can get with the man…”