Performance of SRIs: Funds and Indexes
A new paper by Giuseppe Risalvato, a Ph.D. candidate at Università Carlo Cattaneo, Italy, contends that there is no âethical sacrificeâ in investing. That is, there is no discount that investors...
View ArticleThe State of Alternative Investments in Australia and New ZealandÂ
A new Preqin paper presents the state of the alternatives investment industry in Australia and New Zealand. Mark OâHare, the CEO of Preqin, says in a Foreword that Preqinâs databases track 481 fund...
View ArticleAlpha Generation and Real-Time Data
In a recent paper, Michael W. Brandt and two colleagues look into whether hedge funds âadjust the conditional market exposure in response to real-time changes in macroeconomic conditions, and whether...
View ArticleEDHEC, New Research, and Hyper-illiquid Assets
The EDHEC Infrastructure Institute â Singapore has published a new paper describing what it calls the âvery first results of an ambitious project to create investment benchmarks for long-term...
View ArticlePrivate Credit Industry: Supply and Demand
The Alternative Credit Council, an affiliate of the Alternative Investment Management Association, has put out a paper on the present state of the private credit industry, considering both the demand...
View ArticleTALK FOR SHOW, BLOG FOR DOUGH
By Diane Harrison Despite being overused in finance, the golfing analogy âDrive for show, putt for doughâ bears relevance in alternative investments. While the bigger, flashier managers in...
View ArticleInternational Debt Enforcement: Nautical Twists and Turns
Since sovereign debts and collection issues we shall always have with us, it is not amiss to look back four years to a decision by the Supreme Court of Ghana issued in June 2013, on NML Capitalâs...
View ArticleOutsourced assets under management up 18% year-over-year
By Charles Skorina With 76 firms heard from, we’re now reporting $1.62 trillion in full-discretion assets under management by outsourced chief investment officer firms. That’s a year-over-year jump...
View ArticleEIU on Institutions and Time Horizons
With the sponsorship of Franklin Templeton, The Economist Intelligence Unit (EIU)  has surveyed 143 investing institutions in North America (part of the global sample of 571) in order to study...
View ArticleAIMAâs New Due Diligence Template
It has been 20 years since the Alternative Investment Management Association published its first due diligence questionnaire, a template designed to standardize the diligence process by which investors...
View ArticleDTCC: How to Think About Fintech
The Depository Trust and Clearing Corporation (DTCC), a provider of clearance, settlement, and a wide range of other services to the financial markets, has issued a new white paper on technological...
View ArticleEC and US CFTC Reach Agreement on Venues
The European Commission and the U.S. Commodity Futures Trading Commission have agreed on a âcommon approach on certain derivatives trading venues.â The idea is that parties in the U.S. should be...
View ArticleChina and a Reduced Form Bayesian VAR
What the heck does the forbidding phrase âreduced form Bayesian VARâ mean? Letâs break this down. The VAR in question isnât VaR (Value at Risk). Itâs Vector Autoregression. This is a...
View ArticleAre Clearinghouses Systemically Risky? Gary Cohn is Heard From
Economists sometimes cite a âlaw of unintended consequences.â This is what it sounds like, the principle that actions of people, inclusive of and perhaps (depending on who is writing) especially...
View ArticleFACTOR RETURNS: SMALL VS. LARGE CAPS
By Nicolas Rabener, FactorResearch Are Factor Returns Limited to Small Caps? Summary: A frequent criticism of factor investing is that factor returns are stronger in small caps; Our research highlights...
View ArticleFederal Reserve on Counterparties to the next Lehman Brothers
The Federal Reserve has issued a final rule relating to the qualified financial contracts (QFCs) of global systemically important U.S. banking institutions (GSIBs). Derivatives & Repo Report, a...
View ArticleLazard Research on Smart Beta
Jason Williams, senior vice president at Lazard Asset Management, has written a white paper on the âsix sins of smart beta.â First: what is smart beta? Academic studies indicate anomalies in the...
View ArticleEndowment costs: The secret history
By Charles Skorina In early 2016 certain Congressional committees sent letters to 65 major private universities asking for information about their endowments. Â They supposedly had an urgent need for...
View ArticleDue Diligence Requires Deep Dives into Data
The data and analysis provider eVestment has issued a new white paper on âenhancing private equity manager selection with deeper data.â PE funds below the top quartile have not materially...
View ArticleAlgorithmic Traders: Proprietary, Agency, Liquidity
Two scholars affiliated with the Indian Institute of Management, in Calcutta, have posted a paper about the effects of algorithmic trading on liquidity. This paper, by Samarpan Nawn and Ashok Banerjee,...
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