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July 27

Strategy Machine Learning : Choosing the best regime for you!

Machine learning and big data techniques have been developed making it possible to apply sophisticated mathematical models (hidden Markov switching models, which we will examine later) to financial data series in order to identify market regimes. All this has created scope (...)

Strategy

Investment Style Rotations - Growth versus Value

Strategy

Should you care about biodiversity ? Investors have a role to play in habitat and species protection

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May 4

Strategy The impact of COVID-19 on global high yield

As an increasing number of companies battle the economic consequences of COVID-19, their ability to service bond payments is coming under intense scrutiny. In this Q&A, Sunita Kara considers whether current high-yield valuations adequately compensate investors for (...)

April 28

Strategy ESG and climate: When credit becomes sustainable

Those investors who have opted to incorporate ESG and climate issues into their portfolios will emerge from the crisis with even greater faith in their convictions and all the keener to take more action for the future. New investors will undoubtedly soon join the movement to (...)

April 14

Strategy CTAs as shock absorbers

In the space of alternative strategies, Global Macro and Event-Driven strategies rebounded the most since March 23rd. Both Merger Arbitrage and Special Situations sub strategies benefitted as M&A deal spreads tightened significantly since (...)

April 6

Strategy Opportunity in volatility

The first three months of 2020 go down in history as the worst Q1 ever for global stock markets. Many measures of market stress reached levels last seen in the financial crisis and some price moves were on a scale not witnessed since the great Crash of 1929. The surge in (...)

April 2

Strategy Asset allocation update: credit upgraded amid fluid and uncertain backdrop

The ultimate public health costs and economic impact of Covid-19 are at this time unknown. Public health responses have weighed the human cost of intensive care units being overwhelmed and the number of preventable deaths exploding against the jump higher in (...)

March 19

Strategy Quality stocks remain our focus amid the volatility

Markets last week scrambled to come to terms with two major exogenous shocks: the spread of the COVID-19 virus and the oil price slump. Such shocks to the global economy are rare. Two huge and unconnected shocks coming within days of each other is an unprecedented (...)

December 2019

Strategy Trump trumped: will fundamentals win the day in 2020?

When looking ahead to next year it is easy to focus on the many uncertainties around the world, but we prefer to focus on what we consider a certainty: the continued, rapid digitalisation of the financial services industry. We have already seen huge disruption on this front (...)

November 2019

Strategy Solving for 2020 : Ten for 2020

The heads of Neuberger Berman’s investment platforms identified the key themes they anticipate will guide investment decisions in 2020.

November 2019

Strategy Small, Medium, Large HF: How to choose?

Should alternative portfolios favor smaller, medium, or larger hedge funds? The choice might not be as obvious as before and may be more dependent on the stage of the business cycle. For many years, small hedge funds have steadily outperformed their large peers, sometimes by (...)

October 2019

Strategy Trend reversals briefly halted the CTA rise

Despite the escalation of trade tensions during the third quarter, economic activity has remained quite resilient. Macro data releases even managed to beat expectations in the U.S. and in Japan, leading to a sudden rise in bond yields over the course of (...)

October 2019

Strategy Falling Geopolitical Premium to fuel Global Macro Strategies

Progress in trade talks between the U.S. and China and in Brexit negotiations knocked down safe assets last week. Bond yields rose in most developed countries and gold prices fell, as the stance on both thorny issues reversed and turned (...)

October 2019

Strategy VARPS: 2019 Update

GAM Investments’ Tim Love reflects on the performance of his frontier market plays, Vietnam, Argentina, Romania, Pakistan and Saudi Arabia (VARPS) so far this year and discusses the investment opportunities and risks associated with these (...)

October 2019

Strategy Slow and steady march towards a higher volatility regime

Volatility regimes are decisive for most investment approaches, particularly hedge funds. For both top down players (CTAs, Global Macro, FI Sovereign Arb.) and bottom-up strategies (L/S Equity, Event Driven, Credit Arb.), volatility deeply influence their universe and the (...)

October 2019

Strategy Caution or Precaution? Fixed income outlook for the second half of 2019

Bond market performance in 2019 has been dominated by a theme of central banks pivoting towards easier policy. In particular, the US Federal Reserve has signalled potential interest rate cuts, marking a meaningful shift compared with the hiking cycle of the past three years (...)

September 2019

Strategy Which hedge funds strategy amid rising uncertainties?

Despite massive headwinds from trade tensions, Brexit deadlock and the manufacturing recession, asset prices have been incredibly buoyant so far this year. But as we head into Q4 2019, the sky starts to fill with clouds. We believe the balance of risks is highly asymmetric (...)

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Strategy Subordinated debt – worth a look for yield-starved investors

Bonds yield little, while equities are not particularly cheap. Against that unappealing backdrop, looking beyond the beaten track for alternatives may prove rewarding. Anthony Smouha, CEO of Geneva-based Atlanticomnium, explains why he believes that junior debt could be an (...)

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Strategy Risk factor investing explained

Risk factor investing is growing in popularity, but there’s a risk of getting lost in the factor “zoo”. In this Expert Opinion Thierry Roncalli, Head of Quantitative Research at Lyxor Asset Management, explains the concept of risk factors and distinguishes between facts and (...)

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Strategy How Smart is ‘Smart Beta’ Investing?

Investors increasingly embrace “smart beta” investing, by which we mean passively following an index in which stock weights are not proportional to their market capitalizations, but based on some alternative weighting scheme. Examples include fundamentally-weighted indices (...)

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Strategy An example of Quantitative Strategy: The Low Volatility approach

Low volatility indices and, more broadly, products based on quantitative strategies aiming to select only low-volatility stocks, have met with growing success with the financial community and investors. However, most of these indices have major drawbacks that cannot always (...)

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Strategy US dollar now sole safe haven currency

The US dollar will increasingly benefit from the flight to quality as the appeal of other ‘safe haven’ currencies wanes, according to Jack McIntyre, portfolio manager at Brandywine Global, a subsidiary of Legg Mason.

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Strategy Does a liquidity factor premium exist in the stock market?

Academic studies present ample evidence in support of the existence of four factor premiums in stock markets: Low Risk, Value, Momentum, and Quality. Factor investing puts these concepts into practice by enabling investors to allocate their capital explicitly to these (...)

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Strategy How helicopter money works

Monetary financing isn’t a wacky new policy and is easy to understand once you look at ‘money’ the right way. We should treat government debt and taxation as two forms of monetary sterilisation rather than financing (...)

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Strategy The impact of COVID-19 on global high yield

As an increasing number of companies battle the economic consequences of COVID-19, their ability to service bond payments is coming under intense scrutiny. In this Q&A, Sunita Kara considers whether current high-yield valuations adequately compensate investors for (...)

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Strategy How does ‘quantamental’ fit with factor investing?

‘Quantamental’ is a relatively new portmanteau word in asset management lingo. Its creation is indicative of a trend in our industry. Quantamental is the fruit of the marriage of the quantitative and fundamental (also known as judgmental) disciplines in managing (...)

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Strategy Alternative risk premia weathering Brexit storm well

Pierre-Yves Moix, co-manager of the Alternative Risk Premia strategy at GAM, comments on how the growing alternative risk premia industry has delivered strong performance in the uncertain Brexit environment – proving once again its strong diversification and market neutral (...)

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Strategy A Rising Tide Lifts Most Boats

The broad-based market upswing in the first half of July has benefitted risk assets globally. That follows the release of better than expected economic data in the US and China, suggesting that fears over the strength of the global recovery have been (...)

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Strategy Our take on opposite Macro/CTA views on bonds

Systematic Global Macro and CTAs are often associated because many strategies are multi-asset, global, and have a top down investment process. Benchmark indices tend to pool them together.

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Strategy Targeting positive returns in an uncertain climate

A decade after the financial crisis, the uncertain economic conditions it ushered in are starving Europe’s investors of returns. We believe this makes our approach to long/short equity investing more valuable than (...)

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Strategy Forex, a value added in an allocation between real and financial assets

The foreign exchange market (Forex) is not an extra asset class but all asset classes together in the same market. It can be a real source of diversification and performance subject to a systematic, disciplined and rigorous (...)

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Strategy Managed futures strategies

This type of strategy is based on a simple idea: try to take advantage of an exposure on futures contracts («Futures») with the underlying being a financial instruments or a commodity ...

Focus

Strategy CPR AM has recently launched CPR Invest – Global Disruptive Opportunities | A look back at an accelerating phenomenon: disruption

The recently theorised phenomenon of "disruption" is defined as a process whereby a product, a service or a solution disrupts the rules on an already established market. Technological progress, along with the globalisation of trade and demographic changes are now helping to (...)

Focus

Hidden assets

Learn about hidden assets (volatility, correlation,...) and related strategies

Multi-asset funds

Special Focus on Multi-asset funds: Prevent structural asset allocation biases to improve responsiveness, Allocation strategy for 2017, Multi-Asset Funds Face Investors Scrutiny on Flexibility…

Smart Beta

Special focus on Smart Beta & Factor Investing : Beta positionning and outlook within current asset management framework | Risk factor investing | Factors Value, Momentum, Low Volatility, Quality | Smart Beta and Low Carbon | Smart Beta and (...)

Strategies on dividend derivatives

Dividends : New strategies - Analysis, investment perspectives and strategies on dividend derivatives....

Alternative Risk Premia

Alternative Risk Premia: Alternative Risk Premia strategies | Using Risk Premia for a true diversified portfolio | Investors Increase Pressure on Hedge Funds to Lower Fees | Combining différent styles for risk premia (...)

Infrastructure

Infrastructure : A Growing asset class | The role of pension funds | Energy infrastructure | The MLP example | Accessing the US Energy Infrastructure with MLP ETFs....

China

China : Invest in domestic chinese stocks with ETFS-E Fund MSCI China A GO UCITS | Chinese domestic equities could benefit from more economic stimulus| Li Kequiang’s Chinese growth indicator …

Gestion Obligataire

Gestion Obligataire : Quelle allocation d’actifs obligataires ? | Rallonger la maturité des investissements | La recherche de rendement, un exercice de plus en plus difficile | Investir en volatilité sur les obligations américaines | Déclin de la liquidité du crédit | Rendements (...)

Gestion Action

Gestion Action – Comment investir dans les actions thématiques ? Small Caps, Growth, Value, Momentum, High Dividend, Equity Europe Income Defensive... Quel style de gestion pour quel rendement/risque ? La bulle sur les stratégies à faible volatilité est-elle en train d’éclater (...)

ETF Actions américaines

Actions américaines : comment investir à ce stade du cycle ? Avec une collecte record de 16 milliards d’euros à fin août, soit 70% de la collecte totale du marché des ETF européens, les actions américaines dominent largement les flux ETF depuis le début de (...)

Actions Thématiques - Special Disruption

Actions Thématiques - Special Disruption - La pandémie du Covid 19, accélérateur de la disruption sur le long terme : En quelques semaines, l’innovation s’est accélérée, les taux d’adoption à de nouveaux usages ont explosé : télémédecine, apprentissage à distance, loisirs confinés… (...)

Forex

l’actualité et les stratégies sur le marché du change

Last commented articles

Strategy Targeting positive returns in an uncertain climate
Read comments Update May 2019
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FR Stratégie Les « actions protégées », une stratégie séduisante à calibrer sur-mesure
Read comments Update July 2017
FR Stratégie QE : au-delà des marchés, quel impact pour l’économie réelle ?
Read comments Update January 2015

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