Bloomberg just published an article challenging the traditional notion that institutional investors represent “smart money” whereas retail investors are hapless. The article is based on data collected by State Street showing the equity weighting of a large universe of institutional investors. First, note...
The establishment of a formal Investment Policy Statement (“IPS”) is the most critical step for building a successful investment program. IPS guidelines capture the definition, purpose, and objectives for a single account or a consolidated pool of assets, and provide the investment roadmap for how...
