In this episode of The Allocation Agenda, we sit down with Matthew Burrows, Director of Investment Relations and Marketing at Frostrow Capital LLP, to explore the role of the intermediary in allocator–manager relationships. With a background in discretionary portfolio management, and now working as the 'middleman' between allocators and fund managers, Burrows offers a unique perspective on how to build trust and alignment between two distinct sides of the investment landscape.

He challenges the short-termism often imposed on fund managers, and argues that real conversations should be enabled, not replaced, by technology. From reconciling mismatched timelines to reducing friction through clearer communication, this episode offers a candid look at what it takes to strengthen relationships in a fast-moving, data-saturated industry.

With over two decades of experience in manager research and investment analysis, Gary Tom offers a detailed examination of the 1940 Investment Company Act’s diversified fund rule. He explains why outdated constraints continue to shape trillions of dollars in large-cap assets, explores the real costs associated with capping top holdings, and shares insights on how managers and asset owners can advocate for a non-diversified approach better suited to today’s market dynamics.

Liron Mandelbaum, COO of Dasseti, shares insights from his Bloomberg career and how they shaped transformative strategies at Dasseti. He highlights the “aha moment” in investment management, exposing data collection challenges in private markets. Liron explores data democratization and how Dasseti streamlines data flows, replacing outdated processes with seamless, efficient solutions.

"Our client’s job is to invest wisely, manage risk, and assess risk—not to structure data or figure out how to organize unstructured data. That’s where we come in." - Liron Mandelbaum

This conversation highlights the intricacies of data democratization within investment management. He describes how Dasseti is paving the way for more accessible and structured data flows, easing the archaic processes traditionally burdened with inefficiencies. As Liron vividly depicts, aligning tech solutions with market needs can spearhead the journey from cumbersome dirt roads to seamless six-lane data interchange highways, benefiting asset allocators and managers alike.

In this episode of The Allocation Agenda, Matthew Stiling, Senior Operational Due Diligence Analyst at Investcorp-Tages, discusses the evolving dynamics between internal and external investment managers. They discuss the critical role these managers play for allocators, the importance of trust and transparency in relationships, and how new technologies are streamlining the flow of data between allocators and managers. Matt also highlights the challenges of rising costs, regulatory pressures, and talent retention while emphasizing the need for a balanced approach to internal and external management strategies.

"The key to success in this industry is trust, transparency, and culture. Whether you're working with internal or external managers, the relationships you build and the flow of information you maintain are what drive long-term performance." – Matthew Stiling

The conversation also delves into the benefits of internal platforms, such as real-time data flow and operational scalability, and the unique opportunities external managers provide through niche strategies and diversification. Matt shares insights on how allocators can better manage relationships, ask for the right information, and leverage technology to improve efficiency. This episode is a must-listen for anyone navigating the complexities of investment management today.