95: The New York State Common Retirement Fund - With Anastasia Titarchuk, CIO
Money Maze Podcast
Money Maze Podcast
4.8 • 216 Ratings
🗓️ 4 May 2023
⏱️ 36 minutes
🧾️ Download transcript
Summary
In this episode we examine these questions through the prism of one of the largest US public pension plans, The New York State Common Retirement Fund, with over $250 billion in assets and more than one million members (as of 31/03/22).
Anastasia explains her switch, after several years, from sell-side to buy-side, and from private to public. She discusses why the Fund is widely regarded as one of the nation's best-managed and best-funded pension plans, their objectives, restrictions and where and how they prefer active over passive.
She describes the infrastructure component, real assets, PE and overseas investing as well as why emerging managers are considered an important element in their portfolio construction. Finally, she acknowledges the limitations that come with managing such a large pool of capital in terms of mobility when compared to an endowment, but equally explains their reach, reputation and results.
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Transcript
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| 0:00.0 | I believe the two most powerful words in business are just ask. |
| 0:04.4 | From a base of 200 billion of assets, my target in five years gets to 300. |
| 0:09.7 | We struck the oil in 69 at the day before Christmas Eve. |
| 0:12.5 | On the last attempt, bang, found the oil. |
| 0:15.0 | Welcome to the Money Maes podcast. |
| 0:17.0 | I'm Simon Brewer and Will Campion and I have created this show to explore and unravel |
| 0:21.9 | some of the mysteries surrounding the investment business. |
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| 0:32.5 | If you enjoy the show, please subscribe, and we'd love you to tell a friend or colleague |
| 0:36.3 | about it. |
| 0:37.3 | Thank you for listening. |
| 0:38.8 | We're delighted to have Schroeder's as a sponsor and corporate partner. |
| 0:42.8 | Schroeder is a global investment manager whose purpose is to provide excellent investment |
| 0:47.5 | performance through active decision making. |
| 0:50.5 | For more than two centuries, Schroeder's has evolved their understanding of markets, |
| 1:01.7 | offering investment solutions across fixed income, equities, multi-asset, as well as private markets through Schroeder's capital. |
| 1:11.6 | Schroeder's actively invest in companies with responsible and durable business models. They're also a leading specialist in impact investing for clients who want to maximize positive change. Capital is at risk with investing. |
| 1:14.5 | Bramont is also a sponsor of the Money Maze podcast. |
| 1:18.1 | Bramont is a British company based in Henley that was established 20 years ago by two young |
| 1:23.2 | brothers whose dream was to design and engineer beautiful chronometers. When Giles English, |
| 1:29.5 | one of those brothers, appeared as a guest on the Money Mays podcast last year, he brought to life |
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