The phony happiness of volatility laundering
ANALYSIS: Pension fund managers are often rewarded on the basis of performance but are constrained by a maximum allowed level of risk.
Pension fund managers are often rewarded on the basis of performance.
Why do investment products without a listing on the stock exchange – like BREIT (Blackstone real estate income trust) and private equity funds, which invest in relatively illiquid assets – continue to appeal to both the sell-side and the buy-side, despite regular meltdowns?
The answer is high
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