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On a personal level, the proudest moment of Chris Ivey’s year was watching his son score a century for the school cricket team. On the professional front, however, he warns some investment managers may soon be negotiating a sticky wicket. ‘There’s a recognition that future returns may be lower,’ he says. ‘That leads to increased interest in enhancing returns through exposure to private investments. Many clients are either looking at the asset class for the first time or considering how to increase allocations and/or use other levers such as co-invests and secondaries.’
Cambridge Associates provides global investment management on a discretionary and nondiscretionary basis. It has no pooled fund or model portfolios, instead electing to build each client portfolio on a bottom-up, bespoke basis.
Another consequence of the current environment is a renewed focus on fees, and Ivey reports ‘notable successes’ in improving Cambridge clients’ terms with leading managers. To achieve this, he drew on experience garnered in his former career as a lawyer at
Magic Circle firm Linklaters. He says a legal career wasn’t ultimately for him, but it did provide ‘a strong foundation for being very client-focused’.