Mario Therrien of CDPQ explains how the pension fund gained transparency into managers' actual realized volatility by moving assets to separately managed accounts.
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“In order for us to be a better evaluator of talent, we have transitioned a big part of our program in edge funds onto managed account platforms.”
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More from Mario Therrien
Opinion
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“The problem we've had in the last 15 years really is the whole rate structure fell, which brought sort of the two 20, not no longer the right fee structure.”
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Insight
Therrien: Illiquid assets reduce optical risk and daily mark-to-market panic
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Disclosure
Therrien: CDPQ uses '1.5% or 15%' fee structures to capture more alpha
“From our standpoint, one of the variation that we brought, which is in parallel to what Luke said, was the fee structure, which is X or Y. So we pay 1.5 or 15%, depending, instead of 1.5 and 15%, which actually helps us capture the portion of the alpha that's …”
Mario TherrienSep 28, 2020▶ 44:06Luke Ellis and Mario Therrien – Best Practices in Alternatives (Capital Allocators, EP.158)
Insight
Terrien: CTA strategies carry positive gamma and thrive in volatile markets
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“Patience in, in the context of a pension plan Is, is being able to sort of shy away from, you know, the fads, shy away from sort of the trends, the momentum that can build up into sectors, into some stocks. Patience also means what? Means underperform. Underpe…”
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