Trading Insights: Long-term investing for a long-term mission, with Wellcome Trust

Nov 21, 2024

Elaina Elzinga, Principal and Head of Active Manager Selection at Wellcome Trust, shares her expertise on long-term investment strategies that support scientific progress. She discusses how data and AI are reshaping allocation decisions in portfolio construction. Elaina highlights Wellcome Trust's mission in funding transformative health research and the integration of climate considerations in investments. Together with Eloise Goulder from J.P. Morgan, they explore navigating market volatility and identifying companies with strong sustainability practices.

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ANECDOTE

From Trading Floor To Wellcome

Elaina Elzinga described her path from childhood memories on a JP Morgan trading floor to studying history and joining Goldman Sachs at the financial crisis.
She joined Wellcome in 2010 to work on a globally diverse portfolio aligned with a mission she cares about.

INSIGHT

Investment Portfolio Powers Science

Wellcome funds science in perpetuity via a £40bn investment portfolio that supports discovery and targeted research areas.
The portfolio is global, managed by a 40-person team, and designed to enable long-term funding for health research.

INSIGHT

Choosing Managers For Durability

Active manager selection spans long-only emerging markets to multi-PM hedge funds to maximise long-term risk-adjusted returns.
Selection focuses on organisational durability, repeatable processes, and ability to exceed a 4% real return target.

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In this episode we hear from Elaina Elzinga, Principal and Head of Active Manager Selection at Wellcome Trust. Elaina runs through portfolio construction when spanning investments from HFs to LOs to real assets, how use of data and AI in the investment space influences allocation decisions, and how these longer term investment goals interplay with Wellcome Trust’s mission and purpose. Elaina is in discussion with Eloise Goulder, Head of the Data Assets & Alpha Group at J.P. Morgan.

To learn more about Wellcome Trust: www.wellcome.org

To learn more about the Data Assets & Alpha Group: https://www.jpmorgan.com/markets/market-data-intelligence

Related podcasts:

Asset Allocation amid Climate risks, with Fidelity International Macroeconomist – January 2024

A Macroeconomic Approach to Investing, with Fulcrum’s Chief Risk Officer – February 2024

Recording date: 17 October 2024

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