Thinking Like a CIO: Inside Modern Pension Investing | Allocator | Ep.34

Description

In this episode, Alan Dunne speaks with Dan Mikulskis, CIO of People’s Partnership, about the evolution of large pension funds and what it means to think like an asset owner. Managing over £40 billion for millions of members, Dan explains how scale changes the way portfolios are constructed, managers are selected, and partnerships are built. The conversation explores the balance between passive and active strategies, diversification beyond equities, and the growing role of private markets. Dan also shares insights on governance, investment philosophy, and why humility is essential when making asset allocation decisions in complex global markets. #toptraders #investing #trendfollowing Episode TimeStamps: 01:33 - Introduction to the global macro series 02:18 - Introducing Dan Mikulskis and his background 03:38 - From actuarial science to investment consulting 05:45 - The history and growth of People’s Partnership 08:18 - Auto-enrolment and the rise of large UK pension schemes 11:12 - What it means to operate as an asset owner 13:24 - Building the investment team and ownership model 18:34 - Scale advantages in manager relationships and partnerships 23:24 - How large asset owners select external managers 28:58 - Balancing core partnerships and specialist managers 34:25 - Macro insights and quarterly investment forums 37:34 - Portfolio construction and diversified growth strategies 43:19 - Concentration risk and global equity allocations 50:44 - Factor investing and style diversification 53:30 - The role of hedge funds and alternative strategies 56:08 - Total portfolio approach in pension investing 58:56 - Measuring performance and evaluating investment teams 01:03:18 - Career advice for future CIOs Full episode can be found here: https://toptradsersunplugged.com/alo34 Subscribe to our podcast: iTunes: https://itunes.apple.com/us/podcast/top-traders-unplugged-niels-kaastrup-larsen-engaging/id888420325?mt=2 Spotify: https://open.spotify.com/show/2OnOvLbIV3AttbFLxuoaBW Follow us on social media: TWITTER: https://tw