Ashby Monk – Total Portfolio Approach and the Future of Asset Owners (EP.480)
Capital Allocators – Inside the Institutional Investment Industry
Ted Seides – Allocator and Asset Management Expert
4.8 • 806 Ratings
🗓️ 12 January 2026
⏱️ 63 minutes
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Summary
Dr. Ashby Monk is the Executive and Research Director of the Stanford Research Initiative on Long-Term Investing. Over the last two decades, Ashby has worked closely with some of the world's largest sovereign wealth funds and pension funds on governance, organizational design, technology, and investment strategy. He is also a co-founder of KDX Management, a venture capital firm focused on investech, a co-founder of several startups in the space, and a repeat past guest on the show. His first and most recent appearances are replayed in the feed.
Our conversation explores the increasingly popular Total Portfolio Approach, Ashby's perspective on the role of AI and data in the investment office of the future, including his work with Hoopit AI, a very cool relationship intelligence platform, and examples of innovation at Saudi Arabia's Public Investment Fund and the New Mexico State Investment Council.
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Transcript
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| 0:00.0 | You need to understand the total portfolio. |
| 0:02.3 | Every new investment that comes into the portfolio, |
| 0:05.2 | you're thinking about the overall risk budget, |
| 0:09.2 | liquidity needs, all these goals that every pension fund has. |
| 0:13.3 | TPA begins to think about this, |
| 0:15.7 | not just as an asset allocation project. |
| 0:19.1 | The word TPA to me feels more like an investor identity project. |
| 0:25.2 | TPA is the next level of advanced. It implies that you have all of this real-time stuff at your |
| 0:30.4 | fingertips that you can think about, this piece of knowledge that's being delivered to the |
| 0:34.7 | investment committee. Is that knowledge better than this other knowledge? |
| 0:38.3 | And then you can act on that knowledge. |
| 0:39.7 | Well, some knowledge is going to be, we've found a manager that does X. |
| 0:43.6 | Over on the other side, it's we've got an ETF that does Y. |
| 0:46.8 | Now it's the CIO's job to recommend which to do. |
| 0:50.6 | Finding a way of looking at those different opportunities with apples to apples is really |
| 0:56.3 | valuable. |
| 1:02.8 | I'm Ted Cydies, and this is Capital Allicators. |
| 1:08.9 | My guest on today's show is Dr. Ashby Munk, the executive and research director of the |
| 1:14.9 | Stanford Research Initiative on long-term investing. |
| 1:18.3 | Over the last two decades, Ashby has worked closely with some of the world's largest sovereign |
| 1:22.7 | wealth funds and pension funds on governance, organizational design, technology, and investment strategy. |
| 1:29.8 | He's also a co-founder of KDX management, a venture capital firm focused on InvestTech, |
... |
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