Nuveen Investments Inc., Chicago, is bringing a “Yale quality” endowment model for portfolio asset allocation to the masses, including smaller pension funds, foundations and, yes, endowments.
The idea is the brainchild of Mark J.P. Anson, president and executive director of investment services, who will be the CIO of the strategy, internally labeled the global endowment model, said Jam Zovein, managing director and head of Nuveen Alternative Investments in Los Angeles. The strategy will be launched in June, Mr. Anson said.
The model offers a standardized investment management approach, rather than also offering full portfolio outsourcing services, for institutional and high-net-worth investor portfolios with assets under $500 million, Mr. Zovein said. The program is “a gigantic fund of funds, which invests across nine asset classes,” Mr. Zovein said, including development and emerging markets, credit, private equity, real estate and absolute return/special situations.
Mr. Anson brings unique credentials to the job, having directed portfolio construction and asset allocation strategies for a combined seven and a half years for two of the world's largest pension funds: the $179.7 billion California Public Employees' Retirement System and Hermes Pension Management Ltd., which manages the £37.4 billion ($60 billion) British Telecom Pension Scheme. — Christine Williamson
