NEWSLETTER
True North Institute's most notable observations over the last 3-months
What appears to be working and not working in the world of institutional investing across all asset classes.
Issues
2nd Quarter 2026 Newsletter
This white paper explores how institutional investors can practically deploy artificial intelligence today to enhance investment performance. Drawing on third party developers’ AI tools and institutional CIO’s experience, it outlines where AI is already delivering measurable value—particularly in manager due diligence and data infrastructure—and where human judgement remains essential. The paper introduces a two-phase roadmap…
1st Quarter 2026 Newsletter
This newsletter seeks to make a small contribution to the global body of institutional investment thinking. Its aim is simple: to help the next generation of CIOs avoid reinventing investment “wheels” that have already been built, tested, and, in many cases, broken. Prompted by a recent debate among leading institutional investors on topics including mean-variance…
4th Quarter 2025 Newsletter
This newsletter is an update two years on from our whitepaper entitled “Analysis of Large US University Endowment Outperformance” covering the 10-year period ending June 2023 of a select group of 12 US university endowments. This update covers the 10-year period ending June 2025. We have made one small change to the methodology and that is…
3rd Quarter 2025 Newsletter
This newsletter argues that while there may indeed be a “regime change” taking place in the world, the institutional investor’s response is not a wholesale pivot away from the endowment model to the Total Portfolio Approach (TPA). The recommended model is a “hybrid endowment” where investors retain deep asset-class expertise and diversified manager rosters, enhance…
2nd Quarter 2025 Newsletter
This newsletter explores whether recent market shifts mark a major regime change requiring more dynamic asset allocation (SAA vs TPA). We also cover global moves to disentangle from the U.S., the dollar’s declining safe-haven status, the U.S.–China tech race, and new AI investment opportunities.
4th Quarter 2024 / 1st Quarter 2025 Newsletter
This newsletter reflects on President Trump’s action-packed first month and its long-term investment impact. We also update on AI investing, structural shifts in PE/VC and the end of the energy transition.
3rd Quarter 2024 Newsletter
This is True North Institute’s second quarterly newsletter. The primary aim of these letters is to quickly arm the Chief Investment Officer with some of the most important agenda items to be discussed in any upcoming investment committee meeting.
2nd Quarter 2024 Newsletter
This is True North Institute’s inaugural quarterly newsletter. The primary aim is to quickly arm the Chief Investment Officer with important agenda items to be debated in any upcoming investment committee meeting.