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illiquid assets

5 statements across 4 episodes · 3 bullish · 0 bearish · 4 people on the record · first statement Jun 19, 2017 by Mario Therrien · across every show →

Everything said about illiquid assets, oldest first

Jun 19, 2017 positive
Insight
Therrien: Illiquid assets reduce optical risk and daily mark-to-market panic
“Investing more money in illiquid assets also mitigates sort of the optical risk, if you like. Because, you know, these assets are not revalued every day, so I think that I mean, at the end, I think that's also important, because why people behave in a certain …”
Mario Therrien Jun 19, 2017 ▶ 38:05 Mario Therrien – The Canadian Pension Model (Capital Allocators, EP.12)
May 6, 2019 positive
Insight
Long-lockup illiquid assets offer rich and repeatable alpha
“So when we think at the very top, we're thinking about illiquid assets, 10 to 12 year lockups, and that's a big, thick icing on the top. There's lots of alpha there. Lots of manager value added because it's an illiquid market. It's idiosyncratic. It takes spec…”
Jon Hirtle May 6, 2019 ▶ 30:59 Jon Hirtle – The Pioneer of OCIO (Capital Allocators, EP.98)
Oct 9, 2023 neutral
Disclosure
HESTA currently targets an approximately 30% allocation to illiquid assets
“We currently target around 30% in illiquid assets.”
Sonya Sawtell-Rickson Oct 9, 2023 ▶ 49:26 Sonya Sawtell-Rickson – Total Portfolio Approach at Australian Superannuation HESTA (EP.342)
Oct 9, 2023 neutral
Disclosure
HESTA stress-tests liquidity to keep illiquid assets below a 40% cap
“But assuming that those couldn't be traded, we do different scenarios and try and make sure that we're not breaching 40%.”
Sonya Sawtell-Rickson Oct 9, 2023 ▶ 49:40 Sonya Sawtell-Rickson – Total Portfolio Approach at Australian Superannuation HESTA (EP.342)
Mar 24, 2025 bullish
Insight
Illiquid assets, small caps, and equities will outperform long-term
“We believe over long periods of time, Illiquid's going to outperform liquid. Small's going to outperform large. Equities are going to outperform fixed income.”
Ed Grefenstette Mar 24, 2025 ▶ 26:36 Ed Grefenstette – Bold Allocations at The Dietrich Foundation (EP.437)
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