All Strategies articles – Page 25
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White papersMarket sell-off requires more emphasis on diversification
Market sell-off. After more than a year without a significant correction, equity markets declined as interest rates moved sharply higher due to concerns that inflation may be rising.
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White papersRight outcome & real income: a Multi-Asset approach
For most investors, diversifying via uncorrelated - or less correlated - sources of performances is key to medium / long term investment success, while efficient asset allocation becomes even more relevant in the current regime of low yields and lower returns.
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White papersAdding Science to the Art of Active Management
Most investors understand that equities and bonds have a fundamental value – an anchor or a centre of gravity to which price should typically converge over the intermediate- to long-term.
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White papersMegatrends and disruptions: Consequences for asset management
The asset management industry has to face three different types of challenges.
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White papersReal assets: what contribution to asset allocation, especially in times of crisis?
Sacrificing some portfolio liquidity can be profitable. Ultra-low bond rates, equities that are highly volatile and thus sometimes seen as too expensive, the search for yield and the search to capture a liquidity premium are all pushing institutional investors toward the unlisted or «real asset» universe.
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White papersThe "new normal" turned into the old normal: Our economic outlook for 2018
In this year’s global economic outlook we examine the outlook for the United States and the rest of the world, ask if the coming fiscal stimulus in developed countries could boost this expansion even further, try to shed some light on how central bank attempts to normalize monetary policy might impact the stock market, and investigate the asset class implications of this cyclical upturn and of less-accommodative monetary policy.
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White papersRisk Parity: Does One Size Fit All?
Investors worried about the next market downturn are searching for unique ways to diversify their portfolios, and risk parity, a risk-based multi-asset strategy, continues to be an area of interest.
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White papersFloaters in Alternative Credit will help keep portfolios buoyant
The future is looking less certain for investors, also in fixed income. After a bull run lasting more than three decades, the prospect of western economies winding down quantitative easing and normalising their monetary policies creates the prospect of a more challenging, rising rate environment.
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White papersShared Thinking: In Pursuit Of Positive Skew
There are significant benefits to steering portfolios towards an improved skew in their profile of returns.
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White papersAnalysing the Exposure of Low-volatility Equity Strategies to Interest Rates
At the dawn of a potential rise in rates triggered by Central Banks in both Europe and the United States, doubts are being raised about the ability of low-volatility portfolios to continue to deliver robust performance.
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White papersThe Science and Art of Multi-Asset Investing
Generating consistent returns under uncertain conditions is a challenge. Can multi-asset strategies make the job a little easier? We think so. But a lot depends on how they’re designed.
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White papersThe paradox of passive. Beware of feedback loops
While we understand and generally concur with the desire to implement portfolios cheaply, investors should always be cognisant of what they are buying.
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White papersThe acid test of active management
Active managers are more likely to outperform in certain market conditions, but our research finds that there is also a group that can outperform whatever the weather.
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White papersA Guide to Alternative Risk Premia
For years, academics and investors have been researching sources of return to understand what drives outperformance. Increasingly, this research has been focused on alternative risk premia strategies, a form of factor-based investing which is now entering the mainstream.
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White papersAn unconstrained approach to liquid risk premia research and construction
Liquid Risk Premia, sometimes called Alternative Betas, are return opportunities associated with second-order capital market risks that are in themselves not dependent upon assuming some form of market direction.
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White papersFactor Investing: Diversifying risks to enhance long-term performance
For a long time, traditional equity investing has aimed at generating returns rather than managing risk. But in recent years institutional investors have started to change their attitude: mitigating risk is now more important than maximising returns.
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White papersGlobal Investment Views: October 2017
Ongoing dovishness from Central Banks and higher geopolitical risks are the divergent forces driving financial markets at this point.
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White papersUnderstanding the Momentum Risk Premium
Momentum risk premium is one of the most important alternative risk premia. Since it is considered a market anomaly, it is not always well understood
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White papersEconomic Insights: September 2017
Global expansion stays on track: The global economic recovery that began in early 2016 has reached a self-sustaining velocity.
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White papersValue resurrection on pause, but for how long?
Value investing has had a tough decade of underperformance. This seems to have led many investors to ignore the extensive research showing how value investing outperforms the market over longer time horizons, and today many are under-allocated to value stocks. However, history suggests that periods of value underperformance always end – and often they end abruptly - as we saw last year. The question is whether the factor rotation seen in the second half of 2016 was a one off event, or the beginning of a more sustainable comeback.
