2014: the year in words
In 2014 we have delivered to our readers more than 200 in-depth investor profiles, analytical and research-driven stories on the global institutional investment universe.  The most popular investment stories have been about private equity, ESG integration and how to find the ever-elusive alpha. But asset owners have also liked stories on how to improve their internal structures, decision making and…

The real factor exposures in “smart beta” indexes
Investors relying on nomenclature of smart beta indexes as an accurate reflection of their factor exposures should take a closer look. New research, using a “factor efficiency ratio”, finds that most smart beta indexes are unable to provide desired factor exposures without taking on substantial unintended exposures. Importantly the paper finds that some smart beta indexes advertise certain factor exposures,…

Traditional risk measures flawed
The traditional method of using aggregated monthly data to measure long run risk is flawed and inaccurate, according to important new research by State Street. Co-authors David Turkington, Will Kinlaw and Mark Kritzman have found that there is a huge divergence in risk and return over long periods, which is not visible when using measures such as volatility and correlation…

Divestment of fossil fuels inappropriate for Norway’s SWF: expert group
Automatic exclusion of coal or petroleum producers is not an effective way for the Norwegian Sovereign Wealth Fund of addressing climate issues, according the report of the expert group on investments in coal and petroleum to the Norwegian Ministry of Finance. “We believe the use of the Fund as a climate policy instrument beyond what is compatible with its role as…

Rethinking investment performance attribution
As asset owners move away from silo-based investment decision making, their performance attribution systems also need to evolve. The Alberta Investment Management Corporation AimCo, the C$70 billion arm’s length investment manager for public sector assets in Alberta, Canada, has implemented a new performance attribution system based on how managers actually make their investment decisions.   In an article in the Fall 2014…

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In 2014 we have delivered to our readers more than 200 in-depth investor profiles, analytical and research-driven stories on the global [more]
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Investors relying on nomenclature of smart beta indexes as an accurate reflection of their factor exposures should take a closer look. [more]
Insider >
As the fixed income asset class undergoes rapid change and the opportunity set expands, unconstrained bond funds have become popular. But as this article examines, with that expanded opportunity set [more]

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Long-termism, the problems with capitalism and other holiday reading

The holiday season is a good time to catch up on the reading you may ... [more]

2014: the year in words

In 2014 we have delivered to our readers more than 200 in-depth investor profiles, analytical ... [more]

The real factor exposures in “smart beta” indexes

Investors relying on nomenclature of smart beta indexes as an accurate reflection of their factor ... [more]

Traditional risk measures flawed

The traditional method of using aggregated monthly data to measure long run risk is flawed ... [more]

Divestment of fossil fuels inappropriate for Norway’s SWF: expert group

Automatic exclusion of coal or petroleum producers is not an effective way for the Norwegian ... [more]

Rethinking investment performance attribution

As asset owners move away from silo-based investment decision making, their performance attribution systems also ... [more]

Benchmark design for an active investment process

Choosing the appropriate benchmark for active managers is a common debate among institutional investors. Norges ... [more]

How to hedge long-term inflation-linked liabilities without inflation-linked instruments

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  • November 26, 2014

Given the capacity constraints on local inflation-linked bond markets, what are other options for hedging ... [more]

Breaking down emerging markets active returns

New research by MSCI shows a rare insight into whether the factor phenomenon, driving development ... [more]