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Joe Deere

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  1. Milken Institute1h 2m

    Institutional Investors: Where in the World Will Returns Come From? (audio/video update)

    Janet Cowell, Joseph Dear, Michael Sabia, Mauricio Wanderley, Tom Finke, Joe Deere

    Representatives from CalPERS, the North Carolina State Treasurer, the Canadian Caisse de Dépôt, and Brazil's Funcef convened to detail strategies for recovering from financial crises and targeting 6.7% to 7.5% annual returns in a low-yield environment. The panelists emphasized a decisive shift away from benchmark-relative mandates toward direct ownership of real economy assets, with significant capital redeployment into private equity, infrastructure, and emerging markets like China and Brazil to hedge against inflation and fill fixed-income gaps. While noting political and monetary risks in Europe, these leaders projected a moderately offensive posture for 2013, prioritizing internal management to reduce fees and enhance long-term growth despite the scarcity of high-quality investment vehicles.

  2. Milken Institute1h 4m

    Institutional Investors: Where in the World Will Returns Come From?

    Janet Cowell, Joseph Dear, Michael Sabia, Mauricio Wanderley, Tom Finke, Joe Deere

    Moderator Tom Fink led a panel featuring senior executives from CalPERS, the North Carolina Treasurer's office, Caisse de dépôt et placement du Québec, and Datala to discuss institutional portfolio strategies aimed at achieving actuarial returns of 6.7% to 7.5% through a decisive shift toward alternative assets and direct investing. Participants emphasized a strategic pivot away from broad market indices and traditional fee structures, instead prioritizing high selectivity, internal management capabilities, and diversification into private equity, infrastructure, and emerging markets to mitigate tail risks and improve funded status. While regional outlooks varied from U.S. energy opportunities to Brazilian mid-market growth, all panelists warned that distorted central bank rates require rigorous asset selection rooted in the real economy to sustain long-term performance.