With Trend-Following Funds Down Sharply This Fall, Should Investors Fish or Cut Bait?
Fish, but only if investors can accept very lumpy returns.
December 2019
A Summary of Climate Change Science for Investors
We are investors, not scientists; however, investors would be wise to consider climate science in their investment decision-making process.
December 2019
Liability-Hedging Strategies for US Plan Sponsors in the Low Interest Rate Era
While many plan sponsors have adapted to dramatic interest rate swings by strategically hedging their liability interest rate risk, some balk when interest rates are low. But failing to hedge long-duration liabilities with long-duration assets can expose sponsors to significant downside risk.
November 2019
Outlook 2020: Ten Investing Themes for the Coming Year
In 2019, returns were driven less by what went right than by what did not go wrong. We highlight ten themes for 2020, with a focus on key macro questions, emerging opportunities, and risks.
November 2019
Pension Schemes in Pursuit of Income, Growth, and Diversification
A universal approach to portfolio construction can help schemes achieve required return targets whilst adding additional upside from alpha generation; reduce risk through true diversification; and generate sufficient income to comfortably meet both planned and unplanned cashflow needs.
November 2019
VantagePoint: Fourth Quarter 2019
As economic growth slows, manufacturing contracts, and major central banks start to ease monetary policy anew, investors need to consider what policy options the world has left in the event this slowdown becomes a recession. In this edition of VantagePoint, we look to the 1930s for some answers, while realizing that intervening changes to the global financial system rule out an exact repeat of that period.
October 2019
With Peak Brexit Stress Seemingly Passed, Should UK Investors Boost Sterling Allocations?
No, sterling-based investors should not change their currency hedge ratios or their allocations to sterling-denominated assets based on potential Brexit outcomes.
September 2019
Alternative Risk Premia: A Diversifying Option for Investors (Euro Edition)
Elevated equity market valuations and potentially rising bond yields suggest the return environment for traditional risk assets could be difficult. Faced with this challenge, institutional investors are seeking alternative sources of return. Alternative risk premia (ARP) strategies—which harvest well-established risk premia and market anomalies across asset classes—may fit the bill. ARP strategies have exhibited low […]
September 2019