It’s a concept that has underpinned the investment decisions of the world’s largest institutions for decades. But now there are real questions about whether it actually exists, which is forcing a rethink about how trillions of dollars are allocated.
This debate is as relevant to Canadian pension funds as it is to high-end Australian wealth shops, which have steered a good chunk of their clients’ funds into private assets in the belief they will deliver outperformance in the long run.
