Ashley Baum
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- Milken Institute1h 0m
Alpha Architects for Multi Asset Strategy | Global Conference 2025
Jared Carney, Khaled Al Shamlan, Ashley Baum, Jeb Bentley, Saira Malik, David Mihalick
Five senior investment leaders representing approximately $3 trillion in assets convened to discuss evolving portfolio strategies amidst rising asset correlations and the declining efficacy of the traditional 60-40 model. The panel emphasized a strategic shift toward alternative assets like infrastructure and private credit while highlighting that resilience and local information networks are critical for generating alpha during periods of volatility. By prioritizing downside protection, utilizing regime-based allocations, and leveraging internal management structures, the speakers outlined a roadmap for navigating current market dislocations and meeting long-term liability requirements.
- Milken Institute1h 1m
Credit Markets Forging Ahead | Milken Institute Global Conference 2024
Will Caiger-Smith, Ashley Baum, Michael Buchanan, Lee Kruter, Michael Patterson
A panel of investors analyzed the post-tightening fixed income landscape, highlighting how rising Treasury yields severely impacted duration-sensitive assets while high-yield and bank loan sectors demonstrated resilience through credit risk isolation. The Texas Teachers Retirement System outlined its opportunistic credit strategy, deploying $7.5 billion into asset-based financing and real estate loans while navigating a market where private credit's dominance is receding amid a sharp rebound in syndicated loan issuance. Furthermore, the discussion addressed the evolution of distress dynamics, noting that while modern covenants masked default rates, a wave of coercive liability management exercises and covenant erosion now signals an impending cycle of stricter documentation and reduced recovery rates.