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Author Series: Asset Owner Edition – Multi-Asset Investing: A Practitioner’s Framework by Pranay Gupta

October 25, 2017

Author Series: Asset Owner Edition – Multi-Asset Investing: A Practitioner’s Framework by Pranay Gupta

Pranay Gupta, CFA, has over 25 years of experience in Europe, UK, US and Asia in managing all liquid asset class across global markets. His areas of experience and interest include Asset Allocation, Investment Strategy and Risk Management, and have advised several sovereign wealth funds on these subjects.

As the former Head of Multi-Asset Strategies at Fullerton Fund Management (a subsidiary of Temasek Holdings, the sovereign wealth fund of Singapore), Pranay is responsible for strategic and tactical allocation globally. Prior to that he was the Chief Investment Officer at Lombard Odier and  ING Investment Management Asia Pacific, where he led investment teams across 12 countries to manage over US$85bn of institutional and retail assets. Prior to that, he held senior positions at Axial Investment Management in London, APG Investments in the Netherlands, Societe Generale in Hong Kong and JP Morgan Investment Management in New York.

His recent book “Multi-Asset Investing: A Practitioner’s Framework” published by Wiley, proposes that the fundamental structure of institutional and individuals’ portfolios needs to evolve from single asset class active management, toward a multi-asset class allocation framework.

He holds an MBA in Finance from XLRI India, Bachelor of Technology in Mechanical Engineering from the Indian Institute of Technology, Delhi and is a CFA Charter holder. He has been a visiting Research Fellow at the Centre of Asset Management Research and Investments at the National University of Singapore, and is a frequent commentator on CNN International and BBC World. Pranay helps direct the curriculum of the CFA Program, and has served as a member of the Board of Trustees of the CFA Institute Research Foundation as the Chairman of the Finance and Investment Committee.

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Overview

Although a substantial part of the risk and return of any portfolio comes from asset allocation, the majority of investment professionals worldwide are currently focused on security selection. Join Pranay Gupta, CFA, as he questions this basic structure of the investment process and investment industry:

  • Why should alpha and beta be separated?
  • Are the traditional definitions for risk and risk premium relevant in a multi-asset-class world?
  • Do portfolios cater to the “real risks” in their investment processes?
  • Does the emerging market demarcation make sense for investing?
  • Why do active Asian managers perform worse than developed market managers?
  • Can investors distinguish how much of a strategy’s performance comes from skill rather than luck?
  • Does having a performance fee for your manager create alignment or misalignment?
  • Why is the asset management transitioning from multi-asset strategies to multi-asset solutions?

Author

Pranay Gupta, CFA

Former Head of Multi-Asset Strategies, Fullerton Fund Management (subsidiary of Temasek Holdings)

Moderator

Rongbiao Fu, CFA

Organizer

Thomas Brigandi

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CFA Society New York, Inc. (“CFA NY”) is not a Registered Investment Advisor, Broker/Dealer, Financial Analyst, Financial Bank, Securities Broker, or Financial Planner. While CFA NY seeks to present accurate and reliable information, CFA Society New York does not endorse, approve, or certify such information, nor does it warrant or guarantee the accuracy, completeness, efficacy, timeliness, or fitness of such information for any particular purpose. Information presented may or may not be current as of the date of the presentation, and CFA Society New York has no duty to update and maintain the information, reports, or statements made during events.

The information presented is provided for information purposes only, and is not intended to be and does not constitute financial advice, investment advice, trading advice, or any other advice, is general in nature, and is not specific to you.

None of the information presented is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any security, company, or fund.