So far, most attention for factor investing has focused on equities, but the concepts and premiums carry over to other asset classes like credits. In this note, we address a specific factor premium in the credit market, namely the size premium. This premium relates to the effect that small caps tend to outperform large caps. … Read more
Oregon State Treasury has undergone material change to its structure and process evolving its investment strategy and techniques including smart beta, private equity and internal management.
In this Research Note we show that low-risk credits had superior risk-adjusted excess returns over the past 20 years. By selecting low-risk bonds from low-risk issuers, investors would have earned credit-like returns at substantially lower risk. Read more about the low-risk anomaly in credit markets using various dimensions of risk. Read the research paper »
Keith Ambachtsheer’s fourth book, to launch next month, tackles the persistent problems in pension governance, design and investment, including the sizeable aspiration/implementation gap.
With proper governance, Mercer suggests the best way to create value is to establish an internal process to evaluate and capture market opportunities and give external managers more flexibility.
Alternatives the focus for Danish fund PFA, under the guidance of Henrik Nohr Poulsen who joins from Industriens Pension.
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