How-To Guide: Global Tactical Asset Allocation

I just published a note on the Alberta Investment Management Corporation’s Global Tactical Asset Allocation (GTAA) over on SSRN that is co-authored with our CEO Leo de Bever, our Deputy-CIO Jagdeep Singh Bachher, and Consultant Roman Chuyan.

(As I think I’ve mentioned a few times, I split my time between Stanford / academic stuff and Alberta’s Crown Corporation AIMCo / investment stuff. AIMCo, if you don’t know, manages around C$70 billion on behalf of 26 public pension, endowment, and government reserve funds in the Province of Alberta. Think of it as Alberta’s sovereign fund; the sole shareholder is the government.)

Anyway, in the brief note we just posted we provide a description of the ways in which AIMCo has developed and executed its GTAA process over the past few years. It may offer some insights to other institutional investors considering or preparing to launch a similar GTAA or tilting policy.

And here’s a Spoiler: We conclude that executing a successful GTAA requires developing world-class talent, systems, process and governance.

Download it here.