The Long Right Tail: Asymmetry in Single Stock Collars
As we saw with SpaceX in June, a number of larger IPOs on the horizon could drive single-stock hedging demand from allocators. While there
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Strong Payrolls Report Doesn’t Change our Fed Outlook
August was a strong month for job creation. Nonfarm payrolls increased by 162,000 and the prior two months were revised higher by 55,000 total. Local government education payrolls increased by 42,000
The Elephants in the Curve: Hyperscalers in Pension Discount Curves
The AI infrastructure boom is reshaping a lot of things—equity markets, capital spending, even the power grid. Add one more to the list: the
NISA by the Numbers
32 yrs
as an institutional asset manager
$483b
under management
400+
employees
$299 billion in physical assets + $184 billion in overlay strategies as of 6/30/2026. Overlay strategies include a combination gross notional, fund AUM or fully funded equivalent exposure. Derivative-based liability driven and beta strategies are reported based on gross notional. Systematic and absolute return strategies are based on program objectives and may include notional, fund AUM or the fully funded equivalent exposure.
Our APPROACH
“We’ve always aimed to do things a little differently.
We are a 100% employee-owned firm,
operating as a genuine solutions provider
and extension of staff
for world-leading asset owners.”
David G. Eichhorn, CFA
Chief Executive Officer and Head of Investment Strategies
Recognition of Quality Leadership is Ongoing!
NISA was named a 2025 Best Asset Manager for Institutional Investors in the United States by Crisil Coalition Greenwich, part of Crisil Ltd., a company of S&P Global, recognizing asset managers who stand out by delivering exceptional client service and helping institutional investors achieve their goals.
Crisil Coalition Greenwich named NISA a 2025 U.S. Institutional Best Asset Manager on Dec. 18, 2025 (formerly “Quality Leader”). NISA paid standard data and logo‑use fees. Rankings reflect aggregated participant feedback. See www.greenwich.com for methodology and previous rankings.
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