Portfolio Management

  1. All risks are not created equal

    trueInvestors who have relied on quantitative easing as the basis for many of their investment decisions have been well-rewarded. But the times, and investors' views, are changing.

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  1. Can estimating volatility trump predicting stock returns?

    trueCapturing stocks' volatility is a path to potential outperformance that is often overlooked in favor of the traditional betting on stocks that are likely to rise in value.

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  2. Look beyond macro story to find equity returns in frontier markets

    trueFrontier markets typically are underdeveloped, with strong prospects for growth and capital market expansion.

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  3. Drug royalties in a real asset portfolio

    trueThe pharmaceutical industry has a strong need to access growth capital for the development and production of blockbuster drugs.

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  4. The illusion of liquidity

    truePension fund executives, like many investors, historically have been willing to pay a premium for liquidity. Lately, though, they've started to realize that, for many investments, liquidity can be an illusion. When the 2008 financial crisis hit, only the very highest-quality assets — such as U.S. ...

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  5. As equity drivers shift, allocations will need to change

    trueThe stock market's rise from the depths of the financial crisis has been nothing short of spectacular. Those returns, however, are largely owed to the actions of central banks.

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  6. Never Satisfied

    trueManulife Asset Management's global multi-sector Strategic Fixed Income Strategy generates strong, consistent returns by investing in global government and corporate bonds, foreign exchange, and other fixed income instruments. Portfolio Manager Dan Janis explains how he scours multiple sectors, ...

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  7. Risk parity still can offer rewards to careful investors

    trueAfter tremendous growth over more than a decade of strong returns, risk-parity strategies recently have been struggling. Has the market run-up exposed a fatal flaw? We don't think so.

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  8. Alternative strategies for investors to position their portfolios in a rising rates environment

    trueFixed-income markets might be experiencing the calm before the storm. Rather than allowing complacency to creep in, following the normalization of markets after the significant sell-off in the second quarter of 2013, thoughtful investors should at least be thinking of how best to protect themselves ...

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  9. Upping the ante on implementation of derisking process

    trueMany ERISA pension plans are now implementing specific formulas called “glidepaths” to automatically shift funds to fixed income from growth assets as the plan's funded status increases. The goal, of course, is to reduce funded status risk — i.e., to decrease the chance plan sponsors will face ...

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  10. Emerging markets reward discipline, demand action

    trueHere we are again. Poor recent performance from emerging markets equities, and the entire asset class is under review. We heard the negativity in early 2009, just prior to that year's 78% jump. We heard it at the end of 2011, just before 2012 saw emerging markets outpace the developed world en ...

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  11. A case for high yield in a rising rate environment

    trueLast year, the fixed-income markets saw considerable volatility as participants debated whether quantitative easing was about to end — this was answered in December as the Fed began its tapering program. At the time of writing, U.S. growth dynamics remain favorable and with greater visibility on ...

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  12. Fundamentals set to take on new investing importance

    trueWith the recent announcement of Fed tapering due to start in January and the expectation of tighter U.S. dollar policy as normalization of growth gets underway, the investment landscape is likely to be transforming.

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  13. Choosing among derisking strategies is no easy task

    trueAlthough the full details of last year's landmark pension buyout deals remain largely undisclosed, one fact is abundantly clear — many plan sponsors of all shapes and sizes are eager to decide for themselves whether annuitization is the right solution for managing pension risk.

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