What is the asset class or investment
that keeps you up at night, and why?
We have had a really good run in terms of
what assets have delivered. What worries me
is what a post-QE, low-return world looks like
and the impacts that would have on asset owners’ portfolios. The confluence of the growing
appeal of populism and both fiscal and monetary policy being in a bind is a rather uncomfortable position for the global economy to be
in. Therefore, I am nervous about our ability
to cycle through the next recession given that
we are approaching late cycle.
What methodologies have you adopted
within your institution?
My general approach is predominantly data
driven. I digest information better when it is
backed by numbers. I would caveat that by
saying any financial model would need to
have common sense backing it. They are not
perfect but a necessary complement.
Where do you fall in the passive vs.
I am for both. Investors can make money
both ways, either through passive invest-
ing (beta, risk premia) or actively, through
uncorrelated alpha on top of that beta. I
think it boils down to knowing what you
have in the portfolio, being able to control
those exposures, and understanding the risks
associated. Portfolio construction is about
putting together investments that get you to
your investment objectives, and I think both
passive and active investing have merits that
get you there. What I find most valuable is
to be able to have uncorrelated alpha that is
risk-reducing to the portfolio.
What are the changes you’d like to see
the institutional investing community
make in 10 years?
I think there’s a couple of things that I would
like to see. Institutional investors collectively
form very large pools of capital. Personally,
I would like to see ESG considerations to be
more in the forefront because I value sustain-ability quite strongly. I also would like us to
be able to shape outcomes around standards,
fees, and transparency where they still lack
in the Alternatives space. I think that it
would also be ideal if we had the increased
ability to really invest with the long term in
mind and not having to worry about short-term outcomes.
Who is a manager you don’t currently
work with whose brain you’d like to pick?
There are so many who inspire me. If I really
had to pick, Ng Kok Song, Ray Dalio, and
Ideally, where would that meeting take
A lookout, which we would have to get to by
What is the software investment tool
that helps you most?
We have a couple that we use. The ones that
are built internally I would say are the ones
Head of Absolute Return and Commodities,
Brunei Investment Agency
(Bandar Seri Begawan, Brune)
She has risen quickly within the organization—most
notably having been tapped by the Managing Director to
lead a risk parity pilot project in addition to her day job
looking over the firm’s holdings in hedge funds.
that really help me the most since they have
been built customized to our needs.
What would improve the relationship
between you and managers?
Someone serious about long-term partnerships and sees it beyond just getting business.
Managers who genuinely try to understand
my objectives and work together towards a
solution. Simply checking in to say what’s
up, and then catching up over whats going
on in markets, and talking about trends and
opportunities. That works for me.
Why did you choose your current path?
I went into my first Financial Management
class as a part of my core undergraduate
module and I fell instantly in love with it.
From then on, it was all Finance and Investments for me.