All Portable Alpha articles
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White papersAbsolute Return Overlays: The Power of Diversification on Returns
Expected returns on multi-asset portfolios may be improved materially with the implementation of a portable alpha overlay. Unlike other alternative allocations, portable alpha overlays can be implemented without changing underlying portfolio allocations and/or existing active managers.
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White papersCIO views: a new era of finding alpha
Uncertainty from higher interest rates, mixed data and geopolitical risk is fuelling more volatility. How is active management even more relevant in the current context? Are the former winners gone? Is this a new era of finding alpha?
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White papersAn Evolutionary Perspective on ESG-Alpha
The NB Global Sustainable Equities team discuss why all financial analysts should embrace this alpha resource now in a material and forward looking way.
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White papersDurable Competitive Positions: A Key Driver of Alpha
The NB Global Sustainable Equities Team invests in companies that do no harm, have a durable competitive position and are adaptable to change.
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White papersThe good, the bad, and the ugly of secondary public equity offerings
The stock market plays a crucial role in helping companies raise finance, but are these raises a good deal for investors?
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White papersWhen Tax Alpha is Negative
It may come as a surprise to discover that tax-loss harvesting can result in negative alpha: Here’s what’s going on.
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White papersAsset Allocation Update: Strong earnings prompt US equities upgrade
Amid background noise such as ongoing trade skirmishes involving the US, the evolving Chinese economy and geo-political tensions, we have spent time analysing recent market movements and the implications for risk assets.
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White papersDaisuke Nomoto: Japan - more tailwinds than headwinds for 2018
With GDP on a sustained growth track, supported by structural reforms and the Bank of Japan’s accommodative monetary policy, we maintain a positive outlook for the region.
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White papersReaction: Italian election
The Italian election result looks messy, but we do not believe that the chances of Italy leaving the eurozone have gone up materially.
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White papersTechnology and ‘mega-trends’ to drive US equity performance
US equities have outperformed global equities since the beginning of the recovery because the US economy was initially the sole engine of global growth, as European countries wrestled with the Eurozone crisis.
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White papersThe UK’s demise is overstated
UK equities reached all-time highs in 2017, but relative to world stocks (in US dollar terms) they were laggards.
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White papersAsset Allocation Monthly: May 2017
We have recently increased our equity rating to favour from neutral on the back of lower political risk and positive earnings developments.
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White papersThe emerging markets cloud receding
As US rhetoric on trade protectionism softens, investors are focusing on emerging markets’ fundamental attractions once more as productivity improvements and fast-growing young populations are driving superior economic growth.
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White papersHow should investors approach US infrastructure?
Improving and expanding US infrastructure involves more than building roads and bridges.
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White papersTrumponomics: What could go right?
When it comes to policy, there are things that can go right and things that can go wrong – particularly so with Trumponomics.
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White papersTrump unnerves Asia
The new US administration’s trade and foreign policy threatens to unsettle relations with Asia-Pacific nations. It is commonplace to say that the election of President Donald Trump has created uncertainty and nervousness among both US’s allies and its rivals.
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White papersSoutheast Asia’s credit stability
Credit rating agencies are optimistic that Southeast Asian countries will weather the fallout from developments in other regions. Southeast Asia appears vulnerable to several forces it can do little to control.
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White papersShenzhen-Hong Kong Stock Connect opens for traffic
Offering a bridge for international investors accessing China’s ‘new economy’, policymakers are confident in Stock Connect’s future. China’s recent policy initiatives to attract international investors to its equities markets have struggled.
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White papersIndonesia’s reforms gather momentum
Jokowi’s administration is making progress and pleasing investors in a region troubled by political controversies. Expectations were high when Joko Widodo won Indonesia’s presidential election in 2014.
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White papersHow China rules the waves
FT investigation: Beijing has spent billions expanding its ports network to secure sea lanes and establish itself as a maritime power. Pakistan’s Arabian Sea port of Gwadar is perched on the world’s energy jugular. Sea lanes nearby carry most of China’s oil imports; any disruption could choke the world’s second-largest economy.
