Why specialisation is a prerequisite in an increasingly complex market

Real assets require more than allocation

a.s.r. real assets investment partners views specialisation in real assets not as an organisational preference, but as a prerequisite. What does this mean in practice? Strategic asset allocation, supported by the fiduciary manager, determines the direction of the overall portfolio of institutional investors. It defines how much is invested, in which asset category, and with which return objective. However, once the decision is made to allocate to real estate, infrastructure and natural capital (hereafter referred to as ‘real assets’), a discipline begins for which a generic framework provides insufficient guidance. Markets, structures, fund managers and ESG all require something other  than breadth. They require active and in-depth expertise.

Want to learn more? Download our paper: Real Assets Require More Than Allocation.