TIAA：2026浮躁时代的 “耐心资本”：长期机构投资关键主题研究报告（英文版）（20页）.pdf

1、Surya Kolluri,TIAA InstituteCatherine Reilly,TIAA InstituteDavid Richardson,TIAA InstitutePatient capital in impatient timesKey themes for long-term institutional investingPATIENT CAPITAL IN IMPATIENT TIMES 2ContentsAbout the project .3Key takeaways.3Introduction .4 Longevity,debt,and tech:What does

2、 the future hold?.4The new risk premium:Resilience over efficiency .6The inflation imperative:Protection and growth in a new rate regime .8From bullion to bitcoin,or maybe not?.10FOMO versus ROI:The AI investment conundrum .10AI in the portfolio process:From automation to insight .12The sustainabili

3、ty spectrum:Integration over isolation.13The accountability imperative:Justifying institutional value.15Conclusion .17 Navigating complexity with curiosity and conviction .17Any opinions expressed herein are those of the authors,and do not necessarily represent the views of TIAA,the TIAA Institute o

4、r any other organization with which the authors areaffiliated.PATIENT CAPITAL IN IMPATIENT TIMESPATIENT CAPITAL IN IMPATIENT TIMES 3About the projectThe goal of this project is to identify the longer-term themes that are important for institutional investors as they build their portfolios.We particu

5、larly want to get beyond short-term tactical considerations to understand whats strategically important from a 510-year perspective.Our approach combined background research and interviews with both academic and other subject matter experts and a diverse range of institutional investors.The intervie

6、ws encompassed American,European,Australian,and Asian investors representing institutions such as insurance companies,sovereign wealth funds,pension funds,and defined contribution retirement plans.In this paper,we describe the main challenges and opportunities we uncovered and the ways in which inst