Don't Count Out the Low-Volatility Factor
The strategy’s alpha cannot be “dismissed as another manifestation of the value effect,” says Robeco Asset Management’s top quant.
News
Private Equity’s Valuation Conundrum
Valuations are still a concern for GPs but managers expect to put more of their dry powder to work in 2016.
Carlyle Accused of Fraud by Ex-Employee
A former portfolio manager claims he was fired for blowing the whistle on “crazy” and “irresponsible” investments.
Morgan Stanley Pays $3.2B in MBS Settlement
The bank admitted to securitizing mortgage loans with full knowledge of their “material defects.”
Asian Development Fund Names Inaugural CIO
A former minister in the Indian government will lead the investment operations of the Asian Infrastructure Investment Bank.
Doing Private Equity in Public Markets
Returns before fees from PE-style stocks beat the real thing in a Harvard study—but expect a wild ride.
Why Trend-Following Isn’t Return-Chasing
The rule-based momentum strategy is a tried-and-true source of returns, argues Elm Partners.
Newsmakers
The Useless Annual Ritual Asset Managers Should Stop
Spoiler: Most of those holiday cards don’t even get opened.
Why Volatility Is Good for (Selling) Smart Beta
Factor investing will only get bigger in the next couple of years, a survey suggests.
CIOs Play Powerball
The winnings: $1.5 billion. The investment mandate: Whatever you want.
PwC: Returns Not Enough for Success In Asset Management
Long-term performance, corporate responsibility, and adaptation to technology are just as important for asset managers that want to stay competitive.
Former London Whale Boss Fined $1M
Achilles Macris allegedly failed to be “open and co-operative” with the UK’s financial watchdog.
Volatility Is at ‘Normal’ Levels, Says CalSTRS
The $186 billion public pension’s risk team has analyzed recent market turbulence and some seldom-discussed tail risks.
Investor Collaboration ‘Poses Threat to Asset Managers’
A wave of asset-owner partnerships could cause some managers to lose out, according to Cerulli.
Allianz Adds Another Bond Manager to Roster
PIMCO’s parent company has agreed to buy London-based Rogge Global Partners.