Conflicts of Interest in Continuation Funds
Part II in a Series on Ethics in Private Markets Learn MoreRecently Published
The Total Portfolio Approach (TPA)
With Genevieve Hayman, PhD
Remembering Bill Fung, PhD
Explore his many contributions to CFA Institute Research and Policy Center.
Private Credit: Market Structure, Fund Design, and Retail Access
Hear from the author, Cheryll-Ann Wilson, PhD, CFA
The Algorithmic Market Hypothesis: Information Efficiency in the Age of AI
By Joe Simonian, PhD
Thematic Content
Capital Markets
Understanding the Growth of Private Markets: Structural Shifts in the Investment Industry
Private markets now shape capital formation, portfolio construction, and financial stability. This report examines private markets’ growth, risks, and implications for investors, policymakers, intermediaries, and the investment profession.
Technology
Artificial Intelligence and the Future of Finance: A Framework for Structural Change
This report addresses how artificial intelligence could reshape finance by changing how investors process information, allocate capital, manage risk, define professional skill, and preserve accountability in an increasingly automated system.
Industry Future
The Total Portfolio Approach (TPA): A Practical Guide for Navigating the Transition to TPA
Explore the total portfolio approach (TPA), its advantages over traditional asset allocation, and the governance, culture, technology, and leadership needed for adoption. Learn from leading asset owners and gain practical guidance for transitioning to TPA.
Sustainability
Investment Innovations Toward Achieving Net Zero
CFA Institute Research and Policy Center has convened net-zero thought leaders and investment luminaries to break down the big ideas around achieving net zero. They provide practical guidance for investors, asset managers, investment professionals, and regulators.
Blogs
The Risks of Cognitive Delegation and the Challenge of Accountability in the Age of AI
AI can make investors faster—but could it also affect their analytical thinking? As AI takes on more of the analytical workload, investment professionals risk outsourcing the judgment and accountability that underpin good decisions. Markus Schuller, Michelle Sisto, PhD, Wojtek Wojaczek, PhD, Franz Mohr, Patrick Wierckx, CFA, Jurgen Janssens, and Leonardo Fabbridive into why the real edge of AI-augmented investing may lie in knowing what not to delegate.
Using AI to Develop Optimal Trade Execution Strategies
Even the right investment call can lose money through poor execution. A team of CFA Institute AI Investment Challenge finalists explores how reinforcement learning can adapt trades to changing market conditions, potentially cutting execution costs while keeping AI decisions transparent and explainable.
Six Risks Private Equity Investors Should Consider in a Buy-and-Build Strategy
Buy-and-build strategies can look compelling on paper, but execution brings hidden complexities. Carlos Ceppas Lynch, CFA,and Leonardo Alves examine six lessons on shared costs, founder alignment, governance, and staged control that private equity investors may overlook.
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Conflicts of Interest in Continuation Funds: Part II in a Series on Ethics in Private Markets
Unlocking AGMs: From Votes to Voice in Asia-Pacific
Financial Analysts Journal, Third Quarter 2026, Vol. 82, No. 3
The Equity Risk Premium
Private Credit: Market Structure, Fund Design, and Retail Access
Conversations with Frank Fabozzi, CFA, Featuring Francesco Fabozzi
Infrastructure Debt: Alternative Credit to Finance the Future
