Tim McCusker (CIO at NEPC) discusses asset management consolidation following NEPC's merger announcement with Hightower.
Prediction Not checkable as stated
McCusker: Pure institutional, RIA, and retail channels will vanish within 20 years
“I would say, 20 years from now, there's not many purely institutional, or purely RIA, or purely retail players. Everything is blended together, whether it's asset managers, advisors, or the end participants, even.”
Opinion
McCusker: Allocators will negatively view well-capitalized managers taking SBA loans
“For a lot of well-established, well-capitalized managers, that's not an appropriate use of that pool of capital, and In some ways, they're taking from small businesses on Main Street that can really deserve it, and I believe that list is going to be made publi…”
Prediction Not checkable as stated
McCusker: Markets are more likely to experience a short-term downward snapback
“In the short term, I think it's just Really hard to look at things and say, all right, we're moving forward and markets are going up and we're going to buy more when it feels like the market's gotten a little bit ahead of itself and we're more likely to see a …”
Prediction Not checkable as stated
McCusker: Business Travel Will Return to Normal Quickly Post-Pandemic
“While some are saying this is a breakthrough, and we're going to be a lot more flexible working from home, I think we're going to go back to normal pretty quickly, and we're going to be road warriors once again. So it's actually, I'm not answering the question…”
Disclosure
NEPC is pounding the table to rebalance out of US equities
“We've been talking about over the last year, and US equities have continued to do pretty well, but I think we're really pounding the table now that that's a place where we want to rebalance.”
Disclosure
NEPC lets fund managers decide capacity allocations across clients
“We take that twenty million dollars, put it in a list, and we give that back to the manager, and they make the decision of how they want to allocate, so we're not making the choice of one client over another. We're not choosing OCIO over advisory. They all go …”