Capital Decanted Episode 9: Total Portfolio Approach: An Unexpected Journey with Ben Samild and Jayne Bok
Mar 19, 2024
Ben Samild, Chief Investment Officer at Future Fund, and Jayne Bok, Head of Investments, Asia at Willis Towers Watson, dive into the innovative Total Portfolio Approach (TPA). They discuss the shift from traditional asset allocation to a more dynamic and integrated strategy, showcasing collaboration among global asset owners. Their conversations cover the risks and benefits of TPA, digital asset strategies, and the need for a cultural shift in investment management. They even share amusing personal tales about how social media shaped their relationships!
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Episode notes
TPA's Edge According to GIC
- GIC’s Chum Sui Chang views Total Portfolio Approach (TPA) as superior to Strategic Asset Allocation (SAA).
- He believes SAA is too blunt and TPA offers a competitive edge.
TPA: An Evolution, Not Just Overlays
- John Bowman's perspective on TPA shifted.
- He now sees TPA as an evolution of the entire portfolio construction process.
Four Realms of Portfolio Construction
- Chum Sui Chang categorizes portfolio construction into four realms: Norwegian, Endowment, Canadian, and TPA.
- TPA builds upon the strengths of prior models, allowing portfolios to reflect future investment theses.