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ALO21: How to Run a Multi-Billion Dollar Sovereign Fund ft. Peter Madsen

Top Traders Unplugged

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Optimizing Asset Allocation in a Sovereign Fund

This chapter delves into the intricate details of asset allocation within a multi-billion dollar sovereign fund, starting from historical roots of portfolio theory to considerations of growth, real assets, income, and defensive assets. The discussion covers the fund's investment targets, strategies for managing drawdown risk, and the importance of diversification across various asset classes. The chapter highlights the challenges and benefits of including private markets within the fund's allocations, emphasizing the impact of sector exposure, leverage, and manager capabilities on equity beta in private markets.

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