Factors aid manager selection
Investors, including the $194 billion State Board of Administration of Florida (SBA), are using factor analysis to decompose returns, select active managers and negotiate fees.
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Real factors, and how to use them
Factor investing has become a topic du jour, but according to four experts, there are only a handful of factors that are persistent and robust. If used strategically, these can be useful.
Why Andrew Ang joined Blackrock
Andrew Ang believes factor investing is a more efficient way to organise a portfolio as it allows liquid and illiquid strategies to be managed across the portfolio. It also has the added benefit of honing managers on value creation. He’s been working with a handful of investors while Professor of Finance at Columbia University on
The contest: factor-based or industry-based allocations?
Factor-investing has not yet won the right to be the endurable and dominating asset allocation method, according to new research.
Stanford dumps coal: why divestment doesn’t work
The decision by the Stanford University endowment to divest from coal stocks might produce some positive PR, but from an investment perspective it’s only making them worse off, says Andrew Ang, professor of finance at Columbia University, who says the move prompts the bigger question of what the purpose of a university endowment actually is.
Breaking bad habits: why investors aren’t good at asset allocation
Institutional investors act like momentum investors, chasing returns, even over longer time horizons according to Asset Allocation and Bad Habits, a new research paper that looks at the impact of past returns on asset allocation. The paper commissioned by Rotman-ICPM and authored by Amit Goyal professor at Univeriste de Lausanne, Andrew Ang professor at Columbia Business
FIS MIT 2017