The electricity Lunch

consensus, ” says Stefan Dunatov, CIO of the UK’s £20 billion ($32 billion) Coal

Monthly pension, “it’s about sparking debate. Different ideas. Not just trotting out a real line.

We are weaving our method to through the construction

that lines these streets outside Hermes iPhone cover Investment Management software and the company’s

owner, the BT Pension Scheme’s offices. The unseasonably warm weather, and lack

of available street adhesion for taxis to drive upon, manner we are walking back into

London’s Main market square Mile and reflecting on the beyond couple of hours.

“So, do you think you can obtain a story out of

that? ” that they enquires. “We didn’t really deal with power…”

The “that” he is dealing with is a lunch hosted

Investment Officer for the 300 Club, a group of key

international asset managers, owners, since consultants. Dunatov was admitted

into their ranks just after appearing in CIO’s Power

100 in 2013—no connection, I will assured—and sits beside giant US ALL

investors including CalSTRS’ Chris Ailman and Wisconsin’s David Villa.

4 of the 16-strong group to a swanky restaurant, but after advice (“Liz,

they’ll just want to talk and trade ideas”) and a glance at the available

cost range, we took Hermes iPhone 5S case up on its deliver of in-house catering.

Hermes CHIEF EXECUTIVE OFFICER and head of investment Objekt Nusseibeh

founded the group three years prior, and is as proud of it as she is keen to

encourage its regular members to push the boundaries of System.Drawing.Bitmap in

investment management. In the room are perhaps players at the top of their game: these

type who give keynote messages at their competitors’ conferences. “Great, ” I

think. “Power could be oozing out of this one. ”

Looking for sacrifice of fowl.|Leaving the|A|Using} sparkling water and chat about these “good

old days of 1980s information and facts, ” when a due diligence visit would mean a two-day trip

punting during Cambridge, we get down to business. Test men—yes, they are all men

today, however , that story is for another time—are responsible for hundreds of billions

of extra pounds, dollars, and euros, and are truthfully among the most powerful in the

business. But since we begin discussing power, these conversation slips.

“Fund management is actually art, not a science, so you

are in need of combination of skills and knowledge. And folks don’t spend enough time

thinking, ” begins Nusseibeh. “Scientists will say: ‘I’m not sure, but I think, ’

while a financier will say: ‘This is your way it is. ’ It’s a special

marketing angle. The bravado of claiming ‘I know this to be fact’- is quite a

serious matter when considering fund managers, ” says Joe Brown, former CIO of Schroders.

“But the flipside is, forex traders want that, too, ”

Dunatov—the investor—counters. “The problem is behavioral. People young and old like to think

they’ve been guaranteed they’re going to get the upside. ”

believe it’s a science rather than a form of art, ” chimes in Zuhair Prophet, partner

trio of smoked this fish, arrives, and the conversation turns regarding academic models—how

they are mostly nope, but why no one will be honest.

embarrassment factor, ” says Darkish, “but a lot of asset management depends on

economic theory that is fundamentally mistaken. Now graduates come into fund

consolidation and think these theories are perhaps unequivocally true. ”

“This will be 300 is really about, ” makes clear

Nusseibeh. “It’s not a specific proposal; it’s much more about wanting to obtain

enough senior CIOs to encourage and test ideas as there are not enough of that