Mario Therrien, Senior Vice President at CDPQ, predicts how money management firms must evolve to outperform future markets.
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“I think that, you know, there's been some people talking about sort of the mix between quant and fundamental. I think in the future, the managers or the money managers that will sort of grow the best will be the people that will marry both discipline.”
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More from Mario Therrien
Opinion
Therrien: Falling interest rates broke the traditional 2-and-20 hedge fund fee model
“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
“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 TherrienJun 19, 2017▶ 38:05Mario Therrien – The Canadian Pension Model (Capital Allocators, EP.12)
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
“That strategy as a positive gamma. That strategy thrives in more volatile markets.”
Terrien: Major succession shift coming to hedge funds in the next decade
“I think that we'll see a big shift in succession, whether it's in public or private markets, hedge funds over the next five, 10 years, where that generation is now moving into another cycle.”
Therrien: CDPQ Moved Most Hedge Fund Allocations to Managed Accounts
“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.”
Mario TherrienSep 28, 2020▶ 38:49Luke Ellis and Mario Therrien – Best Practices in Alternatives (Capital Allocators, EP.158)
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