罗纳德奥汉利,新总统兼首席执行官州街全球顾问,认为投资管理的趋势正在进行SSGA的方式,包括从积极管理到索引的动作。
O’Hanley, who was most recently president of asset management and corporate services at Fidelity Investments, says $2.45 trillion SSgA is well positioned with its passive strategies, which include a well-known exchange-traded fund lineup, and its defined contribution retirement business, which is fueling much of the growth in indexing. As investors develop portfolios of index funds, their returns are more tied to asset allocation than to an active manager’s ability to outperform.
“I think the new active, as I would describe it, is in asset allocation,” says O’Hanley, 58. “As more and more investors are using these highly developed investment building blocks, they need to put them together in an asset allocation model.” Boston-based SSgA will be working to expand its existing asset allocation capabilities, including proprietary models for all types of advisers.
o'hanley成功斯科特权力,自2008年以来运行了SSGA,现在退休了。在加入富达之前,奥汉利也总部位于波士顿,是BNY Mellon Asset Management的总裁兼首席执行官,并曾与银行及其前身Mellon Bank,持续13年。(纽约银行和梅隆金融公司于2007年合并。)他以前花费了十多年的麦肯锡公司,他创立了咨询公司的投资管理实践。
SSGA还在进行研究和与所谓的替代测试版的客户合作。奥海利表示,他希望替代投资进行传统资金管理中发生的同类转型。通过传统的投资,研究表明,积极管理人员的回报往往由于可以隔离的因素,例如价值和增长;投资者现在经常使用被动策略来接触这些因素。SSGA正在研究替代世界中的回报来源。“这些是可计算的问题,”奥·兰德说。
新的SSGA BOSS希望利用更多的研发在公司之外进行,包括父母州街道公司的监护手术。大数据是一个例子。2013年,州街推出了一个名为全球交易所的集团,以帮助外部投资经理更好地理解并使用他们存储的大量数据。“很多人谈论大数据,但这个地方一直在做这一点很长一段时间,这让我们亮相未来,”O'Hanley断言。
虽然SSGA最为人知被动投资,但他希望更加关注公司的积极策略。SSGA计划将活跃的管理者置于Multiagset资金,作为被动的更具机会主义的补充。奥海利表示,尽管有“活跃共同基金的收缩措施”,但投资管理方面有很多增长。