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Explainers

Coverage, charts, video and research on Explainers for universal owners.

Latest in Explainers
UAO Fiduciary

Asset owner vs asset manager

The distinction between asset owners and asset managers defines modern institutional investing. Asset owners control capital and set policy; managers deploy it. Understanding this hierarchy is critical for CIOs navigating fee structures, governance, and accountability.

UAO Editorial · May 25, 2026
Family Offices

What Is a Family Office?

What a family office actually does, how large the sector has become, and why the biggest now allocate capital like sovereign and pension funds.

UAO Editorial · May 25, 2026
Conceptual illustration of a single unified portfolio versus separate asset-class buckets
Institutional Investing

The Total Portfolio Approach, Explained

Why the world's most sophisticated funds are abandoning fixed asset-class buckets for a single, competition-for-capital view of risk and return.

UAO Editorial · May 25, 2026
The Daily Brief

The morning briefing for the people who allocate long-horizon capital.

Research, charts, video and podcast analysis for the institutions investing at the scale of the world.