Investment Strategies – Page 21
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Special Report
Securities Services: Embrace the information age
Cyril Demaria argues that private equity has everything to win from a more systematic and transparent approach to reporting information W
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Special Report
Portfolio Construction: A roadmap for portfolio rebalancing
Will Kinlaw and Jay Moore discuss how pension funds can avoid traffic jams, road construction and the associated costs of delays as they get portfolios back on the road to strategic asset allocation weights
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Special Report
Portfolio Construction: Offensive or defensive?
Kathryn Kaminski argues that the adaptable, liquid,systematic profile of managed futures makes it a more efficient long-term approach to tail risk than insurance-style strategies
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Special Report
Portfolio Construction: Defensive or offensive?
Jerry Haworth argues that options-based volatility strategies have five ‘killer apps’ that make them better tail-risk hedges than managed futures – as long as you buy them at the right time
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Special Report
Portfolio Construction: Convexity complexities
Buying absolute return or tail-risk insurance strategies complicates the portfolio rebalancing process. But Martin Steward finds that a solvency management framework can re-impose some objectivity on that process
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Portfolio Construction: Risk as a profit centre
Managing and monitoring tail risk is not just about insuring against extreme losses. Boryana Racheva-Iotova describes the potential for expected tail loss measures to feed into tactical portfolio optimisation where variance is traditionally deployed
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Special ReportPortfolio Construction: Hedge fund ALM
The 2008 crisis showed how liquidity mismatches can undermine apparently robust hedge fund portfolios. Peter Meier and Jann Stoz argue that measuring returns autocorrelation can enable investors to assess mismatches using only fund of fund-level information
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Special ReportPortfolio Construction: The changing asset allocation framework
Stacy Cuffe, Lisa Goldberg and Frank Nielsen describe the move from asset-class allocation to risk-based allocation, and the problem of ‘risk-grouping’
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Special ReportPortfolio Construction: Preparing for all probabilities
Emma Cusworth discusses strategic asset allocation weights adjusted for the economic cycle
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Special Report
A tailor-made trend
Nina Röhrbein reports on a recent surge in demand for sustainable indices, but questions whether they match client needs
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Special Report
Measuring social impact
Work needs to be done to standardise the measurement of the social impact of investments. Michele Giddens warns against oversimplifying the question
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Features
Event horizons
Martin Steward finds an unusual corporate event cycle teeing up opportunities for event-driven hedge funds – but not necessarily classic merger arbitrage or distressed debt
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Features
Opening up custody
Planned merger of Russia’s rival exchanges could clear the way for securities lending, writes Iain Morse
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Special Report
The future of cleantech
Investors in the cleantech industry are not just funding the development of environmentally conscious business, argues Paul Corren. While the technology is developed to do that, it is also focused on reducing costs and improving efficiency
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Asset Class Reports
Structured Credit: Alphabet soup: a second helping
Joseph Mariathasan takes a look at the structured credit and loans markets and finds a surprising abundance of reasons to tuck back into the alphabet soup, even after significant spread-tightening
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Interviews
‘Adjacency’, or the art of step-by-step
It is tempting, just because it is so good at it, to think of the $11bn (€7.8bn) London-based hedge fund manager CQS as a credit specialist. But founder Michael Hintze is keen to emphasise its broader strengths. “We are a big hedge fund, but we do more than simply provide absolute returns in credit,” he says. “Nowadays we are a global multi-strategy, multi-asset management firm providing hedge fund, long only and bespoke solutions for clients.”
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Special Report
Quant: Man vs Machine
Andrew Kaplan offers his reflections as a fundamental value investor who found himself working at a ‘quant shop’
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Special Report
Credit: Steady as she goes
Even Europe’s most sophisticated pension funds took a sober view of the greatest credit value opportunity of all time, finds Lynn Strongin-Dodds
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Special ReportCredit: At the cliff edge
An IPE snap poll suggests that even at the bottom of the nastiest bear market and the top of the longest bull market in history, portfolio positioning is far from simple. Martin Steward reports
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Special Report
Quant: Integrated circuit
What happens when a big, traditional asset management company sets out to diversify its risk and revenue streams by acquiring a smaller team of successful quants? Rob Job, head of business development at quants specialist PanAgora Asset Management, outlines his firm’s model of an operating committee with “business-oriented people” like ...
