Industry Voices

  1. Beneath the ugly face of second half 2014 lies the beauty of opportunity in 2015

    trueIn our view, the coming year will resemble more the volatility of the second half of 2014 than the prolonged, virtually uni-directional (i.e., up!) market that leveraged credit investors have enjoyed over the past several years.

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  2. Tail hedging review

    trueSince the start of 2014, we have witnessed increasing interest in tail hedging with large global institutions looking to develop tail hedge mandates. Recent bouts of turbulence since October 2014 have intensified that interest, especially since volatility levels have continued to fluctuate rapidly, ...

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  3. In defense of stock buybacks

    trueThere's a specter haunting the financial landscape. Or at least you might think so, judging from the mainstream financial press. The threat du jour is share buybacks, if you can believe that.

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  4. The rise of the multimanaged fund

    trueAs the pension landscape evolves, the question of optimizing returns from investments becomes ever more crucial.

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  5. Fair pricing, bubbles and crashes

    trueStock returns have a fat-tailed distribution; this means that large shocks are far more likely than one might expect. A few examples illustrate why this matters to investors.

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  6. U.S. buyouts: Achieving attractive returns in a high price environment

    trueManager selection — always of paramount importance to the success of private equity programs — is even more critical in today's highly competitive and very expensive marketplace.

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  7. Wider implications of oil prices

    trueWith the rapid decline and ongoing volatility in oil prices, investors will already have a sense of how the parts of their portfolios directly exposed to energy have responded, but it is also important to consider the broader investment repercussions for parts of the portfolio that are indirectly ...

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  8. Active investing in an indexed world

    trueWhile active management still plays a critical role in portfolios of all sizes and sophistication levels, it’s hard to ignore the reams of headlines and research notes making the case for passive.

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  9. Systematic quant uncovers EM small-cap opportunity

    trueThe potential investment opportunity represented by small-cap stocks within the emerging markets space — both in terms of returns and low correlation to traditional markets — is clear to many investors.

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  10. Why now is the time for Asian private equity

    trueInvestor interest in Asia, particularly in Asian private equity, appears to have waned in recent years, with many developed markets globally trading at or around all-time market highs while various Asia-Pacific markets continue to languish.

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  11. Europe ripe for active strategies

    trueWhile European ETF funds have seen peak outflows amid economic concerns, the dislocation and ongoing macro unease can be viewed as reintroducing value to the Continent.

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  12. The role of hedge funds in institutional portfolios

    trueDespite recent high-profile exits from hedge funds and alternative investments, public pension funds are expected to be the main driver of growth in the alternatives space going forward. The combination of high interest and controversy around hedge funds and their managers has fueled the ...

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  13. Ruble, ruble, oil and trouble

    trueIt's natural to wonder if, like the three witches in Macbeth, the year's events are harbingers for additional strife and trouble. However, if one were to heed the negative headlines and "pack it in" for 2015, one is likely to miss the opportunities that currently present themselves as fear ...

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  14. Did the Treasury undermine the Fed?

    trueA paper from Harvard scholars has the potential to influence Fed and Treasury policy. In particular, the Treasury might be urged to sell less long-term debt in favor of more short-term debt. Because this could reduce the supply of quality long-term assets available to match long-term liabilities, ...

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