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Energy is the fundamental systemic risk

Tim Hodgson, co-founder of the Thinking Ahead Institute at WTW, makes the case that energy is the metaphorical lifeblood of any system, and is therefore the fundamental systemic risk, and that this insight should inform how we go about our net-zero investing.

Systemic tail risk

A research paper by executives at the Dutch Central Bank, De Nederlandsche Bank, examines tail risk, and shows that historical tail betas are able to capture the sensitivity to future systematic tail risk.   The paper can be downloaded here  Systemic tail risk
Investor Profile

UMR: growth from government bonds?

“We have to move faster than our competitors,” says the chief executive of French retirement fund Union Mutualiste Retraite, Charles Vaquier. It is a phrase that you can hear uttered by business leaders at all sectors and levels, but one that institutional investors rarely emphasise. In chatting about its investment strategy, it soon becomes apparent […]

US Department of Treasury surveys systemic risk

Part of the mandate given to US regulators by the Dodd Frank Act is to measure and monitor systemic risk, but more than one risk measure is needed to capture the complex and adaptive nature of the financial system. The Office of Financial Research, part of the US Department of Treasury, has put together a […]