This presentation is based on an article coauthored by Alain Bergeron, Mark Kritzman, and Gleb Sivitsky entitled “Asset Allocation and Factor Investing: An Integrated Approach” published in The Journal of Portfolio Management in 2018.
On Wednesday, November 14th we were joined by Cel Kulasekaran, Research Director at Windham Capital Management. Cel discussed factor analysis and how factor models can provide for a more complete understanding of portfolio risk.
WEBINAR HIGHLIGHTS:
-What is factor analysis?
-Common factors used in practice
-Single vs. multi factor models
-Factor models in practice
-Practical implementation issues
-Factor analysis case study on a diversified portfolio
Asset Allocation for Specific Client GoalsWindham Labs
On Wednesday, January 24th, we heard from Senior Client Consultant Jon Kazarian on how to tailor a portfolio to meet the specific investment goals of a client.
On Thursday, April 27th, 2017, we heard from Windham's own client consultant, Jon Kazarian about best methods and practices for the portfolio construction and evaluation process.
Asset Allocation in Taxable PortfoliosWindham Labs
On Tuesday, September 26th, we hosted Lucas Turton for a discussion on Asset Allocation in Taxable Portfolios. Lucas explored how to estimate the future value of a portfolio by considering assets on an after-tax basis, asset allocation and location for optimal tax efficiency, and best practices for tax loss harvesting and navigating the wash sale rule.
On 1/26/2017, we hosted a webinar featuring Richard Lindsey, Managing Partner and Head of Liquid Alternative Strategies at Windham Capital Management. Rich discussed how to model portfolio returns, risk premia, and how to decompose portfolio risk.
This document discusses strategies for diversification and controlling risk in investments. It summarizes a typical pension fund asset allocation from JPMorgan that divides investments among equities, fixed income, real estate and alternatives. It then discusses the significant monetary and fiscal stimulus by governments and central banks. Finally, it advocates constructing portfolios with statistically independent risk factors to reduce volatility and enhance returns over market cycles.
Asset Allocation in a Low Interest Rate WorldWindham Labs
Constructing a well-diversified portfolio has become increasingly difficult in recent years. Central Banks around the world have influenced asset prices and driven down interest rates. The Capital Asset Pricing Model (CAPM), Modern Portfolio Theory (MPT), and global diversification have been under attack. The distortion in interest rates and the instability of risk have made generating model inputs challenging.
In this presentation, we discuss an approach to constructing portfolios in this "New World."
On Wednesday, November 14th we were joined by Cel Kulasekaran, Research Director at Windham Capital Management. Cel discussed factor analysis and how factor models can provide for a more complete understanding of portfolio risk.
WEBINAR HIGHLIGHTS:
-What is factor analysis?
-Common factors used in practice
-Single vs. multi factor models
-Factor models in practice
-Practical implementation issues
-Factor analysis case study on a diversified portfolio
Asset Allocation for Specific Client GoalsWindham Labs
On Wednesday, January 24th, we heard from Senior Client Consultant Jon Kazarian on how to tailor a portfolio to meet the specific investment goals of a client.
On Thursday, April 27th, 2017, we heard from Windham's own client consultant, Jon Kazarian about best methods and practices for the portfolio construction and evaluation process.
Asset Allocation in Taxable PortfoliosWindham Labs
On Tuesday, September 26th, we hosted Lucas Turton for a discussion on Asset Allocation in Taxable Portfolios. Lucas explored how to estimate the future value of a portfolio by considering assets on an after-tax basis, asset allocation and location for optimal tax efficiency, and best practices for tax loss harvesting and navigating the wash sale rule.
On 1/26/2017, we hosted a webinar featuring Richard Lindsey, Managing Partner and Head of Liquid Alternative Strategies at Windham Capital Management. Rich discussed how to model portfolio returns, risk premia, and how to decompose portfolio risk.
This document discusses strategies for diversification and controlling risk in investments. It summarizes a typical pension fund asset allocation from JPMorgan that divides investments among equities, fixed income, real estate and alternatives. It then discusses the significant monetary and fiscal stimulus by governments and central banks. Finally, it advocates constructing portfolios with statistically independent risk factors to reduce volatility and enhance returns over market cycles.
Asset Allocation in a Low Interest Rate WorldWindham Labs
Constructing a well-diversified portfolio has become increasingly difficult in recent years. Central Banks around the world have influenced asset prices and driven down interest rates. The Capital Asset Pricing Model (CAPM), Modern Portfolio Theory (MPT), and global diversification have been under attack. The distortion in interest rates and the instability of risk have made generating model inputs challenging.
In this presentation, we discuss an approach to constructing portfolios in this "New World."
Financial analysts are concerned with factors, or common sources of risk that contribute to changes in asset prices. Analysts may be able to control a portfolio’s risk more efficiently and perhaps even improve its returns by identifying such factors.
Factor analysis is a powerful tool for quantifying the risk profile of a portfolio, constructing a portfolio relative to a benchmark, and controlling risk.
In this presentation, we review methods and best practices for the portfolio construction and evaluation process. The presentation covers risk and return estimation, mean-variance optimization as well as techniques for analyzing exposure to loss and wealth potential.
netwealth educational webinar - The evolution of asset allocationnetwealthInvest
On April 14, 2016 Tracey McNaughton, Head of Investment Strategy at UBS presented to financial advisers on the evolution of asset allocation during a netwealth educational webinar.
The Art of Risk Management- Strategic Asset Allocation Redington
This document provides an overview of strategic asset allocation and investment strategy. It discusses:
- Designing an investment strategy, including defining asset allocation benchmarks, allocation ranges, and analyzing historical performance.
- Monitoring an investment strategy through comparing actual performance to feasible benchmark ranges and analyzing tracking error.
- Key points on balancing risk and return through strategic asset allocation and measuring performance in the context of market conditions and investment mandates.
Insight Summit 2017: Intelligent Risk Taking
Portfolio construction today - Cliff Asness, Managing & Founding Principal, AQR Capital Management
Presented at the third annual Insight Summit conference held on 7 November 2017 by London Business School’s AQR Asset Management Institute.
"Opportunities and Pitfalls in Momentum Investing" by Gary Antonacci, Author ...Quantopian
Presented at QuantCon Singapore 2016, Quantopian's quantitative finance and algorithmic trading conference, November 11th.
Gary will begin by explaining the origins and history of momentum investing. He will show why momentum is called “the premier anomaly.” He will describe the way momentum is most commonly used and why this may not be the best approach. He will discuss the hidden risks associated with momentum and other factor based investments.
Using easily understood examples and historical research findings, he will show how relative strength momentum can enhance investment returns, while trend-following absolute momentum can dramatically decrease risk exposure.
Gary will show which assets are best to use for momentum investing. Finally, he will describe the behavioral biases you must deal with and the mind set you need to become a successful momentum investor.
In this talk you will learn how to:
a) Spot the best momentum investment opportunities in any market environment.
b) Protect yourself from bear market risk exposure and behavioral biases.
c) Construct your own low-cost, rules-based dual momentum portfolio that is simple to understand and easy to maintain.
The document discusses market volatility and strategies for dealing with it. It defines volatility, looks at historical volatility levels, and discusses how volatility affects investors. It then outlines the wealth management group's strategies, which include repositioning portfolios to focus on quality income assets, employing strategies to dampen volatility, and ensuring portfolios align with clients' goals and risk tolerance.
Investment Challenges in Rising Rate EnvironmentsWindham Labs
Investors are now confronted with a rather novel set of challenges, most notably the potential for both significantly higher interest rates and a higher degree of correlation between stock and bond prices. While common knowledge has it that a combination of stocks and bonds can provide balanced portfolio performance over time, there is good reason to suspect that this may not be the case going forward; as we will show, negative stock and bond correlation is a more recent phenomenon that is generally only associated with a low-interest-rate environment.
In this presentation, we hosted Andy Weisman, Managing Partner at Windham Capital Management, who will helped us examine historical equity and fixed income data to better understand the relationship between stock and bond prices. We also examined, at a high level, our economic environment and gained some insight into prospective investment challenges. Finally, we discussed the role of the interest-rate-momentum risk premium in addressing the identified challenges.
1) The document discusses the shift from defined benefit pension plans to defined contribution plans, which transferred risk from employers to employees. This led to growth in the investment management industry.
2) It then provides a history of the retirement industry in South Africa, including the rise of independent asset managers and consultants, and the shift to members being responsible for their retirement income after accumulating savings in their personal accounts.
3) The document concludes with a discussion of expected regulatory reforms in South Africa that may lead to industry consolidation and changes to governance structures.
1) Asset allocation involves dividing investments among different asset classes like stocks, bonds, and cash equivalents to gain exposure to rotating market leaders and help reduce volatility.
2) Maintaining a balanced mix of assets tailored to an individual's goals, time horizon, and risk tolerance can potentially increase returns compared to holding single assets.
3) Asset allocation strategies need periodic rebalancing to maintain the intended risk level as market conditions and individual circumstances change over time.
Six Sigma is a data-driven approach to reducing process variation and improving quality. It aims for 99.99966% perfection by identifying and eliminating defects. The Six Sigma investment process focuses on reducing investment variation to produce consistent, predictable returns for investors. It uses risk analysis, measuring risk-return relationships and consistency to validate investment strategies that meet expectations over the long run.
This document contains slides from a presentation given by Miranda van Rensburg, Regional Sales Manager at Prudential Investment Managers, in November 2018. The presentation discusses challenges in financial planning given volatility in asset class returns, impact of client behavior on investment performance, and strategies for mitigating sequence of returns risk in retirement. It provides analysis showing the benefits of active management, global diversification, and maintaining growth assets in retirement to maximize long-term returns. The final slides introduce Miranda and include the standard disclosure statement.
Netwealth portfolio construction series - Why are ETFs gaining in popularity ...netwealthInvest
Part of Netwealth's portfolio construction webinar series - Vinnie Wadhera from BetaShares presented to an audience on 14th September 2016 about Exchange Traded Funds (ETFs) and strategies on how ETFs can be used in a portfolio.
The document discusses American Funds and its New Perspective Fund, a global equity fund. It highlights the fund's long history of global research and investing in companies around the world since 1973. It also notes the fund's strong long-term performance compared to other global markets and indexes over the past several decades through various economic cycles.
Active managers have generally not outperformed the market in either bull or bear markets. During the 2008 financial crisis, actively managed funds underperformed the S&P 500 index by an average of 1.67% on average. Studies from 2008-2012 also found that the majority of active managers failed to outperform their benchmarks across various market categories. While markets have historically delivered positive returns, it is typically a small group of top-performing stocks that drive those returns, making it difficult for managers to consistently pick winners. Diversification can help reduce risk and volatility compared to investing only in stocks, as seen during the 1973-1976 and 2007-2011 periods where a diversified portfolio lost less than a pure stock portfolio.
Developing an Asset Allocation Strategy and the Military Familymilfamln
This webinar discusses asset allocation, diversification and strategies to implement an individualized investment plan https://learn.extension.org/events/1715
This document discusses achieving higher returns from lower risk stocks. It summarizes research showing that low volatility stocks have historically outperformed high volatility stocks in terms of risk-adjusted returns. The document advocates using a risk rating system to classify stocks based on volatility into categories like conservative, balanced, adventurous, etc. It shows that more conservative stocks have had higher long-term returns and better performance during market downturns compared to more speculative stocks. The document suggests strategies for investors like focusing on "conservative super stocks" that have attributes like quality, value and momentum to potentially further improve risk-adjusted returns from low volatility stocks.
The document discusses three dimensions of expected stock returns:
1) Company size - Small company stocks tend to have higher expected returns than large company stocks over time.
2) Company price - Lower-priced "value" stocks tend to have higher expected returns than higher-priced "growth" stocks over time.
3) Equity market - Stocks tend to have higher expected returns than fixed income investments like bonds over time.
Smart Beta Investing - Trends and OpportunitiesAmit Sinha
Additional content available at www.focus262.com/blog
Presentation by Amit Sinha at the Copal Amba Breakfast Series that walks through the what, why and where of Smart Beta investing.
Beginning with what is smart beta, then moving to why investors can benefit from smart beta and concluding with where the industry is headed - highlighting the potential market opportunity, challenges, and business models followed by asset managers such as Dimensional, AQR, GSAM, etc.
Investment management is a key function for insurance companies to manage investments backing reserves and capital. Zurich Insurance Group commissions its investment management team to generate superior risk-adjusted returns relative to liabilities for shareholders and policyholders. Investment management creates value through a process that includes asset-liability management, strategic asset allocation, market strategy, asset manager selection, portfolio construction, and efficient asset management. The investment strategy aims to maximize economic objectives while minimizing unrewarded risks in order to create long-term value for stakeholders.
Old vs. New Wealth Management featuring Gerard Michael, CEO of Smartleaf!Windham Labs
On Tuesday, October 16th we were joined by a special guest, Jerry Michael of Smartleaf. In this webinar, we explored the massive changes in the wealth management landscape as well as the forces driving them.
WEBINAR HIGHLIGHTS:
How the core value proposition of wealth management has evolved
Security selection and asset allocation in the current landscape
The modernization of wealth management processes:
Rebalancing portfolios
Customization
Tax management
1. Insurance companies hold significant investment assets to back insurance liabilities and capital reserves. Proper investment management of these assets is crucial as it impacts profitability and the ability to pay claims.
2. Insurers aim to balance risk and return in their investments. While higher returns require higher risk, insurers must ensure risks do not jeopardize their ability to meet liabilities.
3. Investment risk for insurers relates to potential mismatches between assets and liabilities due to market changes. Insurers practice asset-liability management to monitor and control this risk exposure.
Financial analysts are concerned with factors, or common sources of risk that contribute to changes in asset prices. Analysts may be able to control a portfolio’s risk more efficiently and perhaps even improve its returns by identifying such factors.
Factor analysis is a powerful tool for quantifying the risk profile of a portfolio, constructing a portfolio relative to a benchmark, and controlling risk.
In this presentation, we review methods and best practices for the portfolio construction and evaluation process. The presentation covers risk and return estimation, mean-variance optimization as well as techniques for analyzing exposure to loss and wealth potential.
netwealth educational webinar - The evolution of asset allocationnetwealthInvest
On April 14, 2016 Tracey McNaughton, Head of Investment Strategy at UBS presented to financial advisers on the evolution of asset allocation during a netwealth educational webinar.
The Art of Risk Management- Strategic Asset Allocation Redington
This document provides an overview of strategic asset allocation and investment strategy. It discusses:
- Designing an investment strategy, including defining asset allocation benchmarks, allocation ranges, and analyzing historical performance.
- Monitoring an investment strategy through comparing actual performance to feasible benchmark ranges and analyzing tracking error.
- Key points on balancing risk and return through strategic asset allocation and measuring performance in the context of market conditions and investment mandates.
Insight Summit 2017: Intelligent Risk Taking
Portfolio construction today - Cliff Asness, Managing & Founding Principal, AQR Capital Management
Presented at the third annual Insight Summit conference held on 7 November 2017 by London Business School’s AQR Asset Management Institute.
"Opportunities and Pitfalls in Momentum Investing" by Gary Antonacci, Author ...Quantopian
Presented at QuantCon Singapore 2016, Quantopian's quantitative finance and algorithmic trading conference, November 11th.
Gary will begin by explaining the origins and history of momentum investing. He will show why momentum is called “the premier anomaly.” He will describe the way momentum is most commonly used and why this may not be the best approach. He will discuss the hidden risks associated with momentum and other factor based investments.
Using easily understood examples and historical research findings, he will show how relative strength momentum can enhance investment returns, while trend-following absolute momentum can dramatically decrease risk exposure.
Gary will show which assets are best to use for momentum investing. Finally, he will describe the behavioral biases you must deal with and the mind set you need to become a successful momentum investor.
In this talk you will learn how to:
a) Spot the best momentum investment opportunities in any market environment.
b) Protect yourself from bear market risk exposure and behavioral biases.
c) Construct your own low-cost, rules-based dual momentum portfolio that is simple to understand and easy to maintain.
The document discusses market volatility and strategies for dealing with it. It defines volatility, looks at historical volatility levels, and discusses how volatility affects investors. It then outlines the wealth management group's strategies, which include repositioning portfolios to focus on quality income assets, employing strategies to dampen volatility, and ensuring portfolios align with clients' goals and risk tolerance.
Investment Challenges in Rising Rate EnvironmentsWindham Labs
Investors are now confronted with a rather novel set of challenges, most notably the potential for both significantly higher interest rates and a higher degree of correlation between stock and bond prices. While common knowledge has it that a combination of stocks and bonds can provide balanced portfolio performance over time, there is good reason to suspect that this may not be the case going forward; as we will show, negative stock and bond correlation is a more recent phenomenon that is generally only associated with a low-interest-rate environment.
In this presentation, we hosted Andy Weisman, Managing Partner at Windham Capital Management, who will helped us examine historical equity and fixed income data to better understand the relationship between stock and bond prices. We also examined, at a high level, our economic environment and gained some insight into prospective investment challenges. Finally, we discussed the role of the interest-rate-momentum risk premium in addressing the identified challenges.
1) The document discusses the shift from defined benefit pension plans to defined contribution plans, which transferred risk from employers to employees. This led to growth in the investment management industry.
2) It then provides a history of the retirement industry in South Africa, including the rise of independent asset managers and consultants, and the shift to members being responsible for their retirement income after accumulating savings in their personal accounts.
3) The document concludes with a discussion of expected regulatory reforms in South Africa that may lead to industry consolidation and changes to governance structures.
1) Asset allocation involves dividing investments among different asset classes like stocks, bonds, and cash equivalents to gain exposure to rotating market leaders and help reduce volatility.
2) Maintaining a balanced mix of assets tailored to an individual's goals, time horizon, and risk tolerance can potentially increase returns compared to holding single assets.
3) Asset allocation strategies need periodic rebalancing to maintain the intended risk level as market conditions and individual circumstances change over time.
Six Sigma is a data-driven approach to reducing process variation and improving quality. It aims for 99.99966% perfection by identifying and eliminating defects. The Six Sigma investment process focuses on reducing investment variation to produce consistent, predictable returns for investors. It uses risk analysis, measuring risk-return relationships and consistency to validate investment strategies that meet expectations over the long run.
This document contains slides from a presentation given by Miranda van Rensburg, Regional Sales Manager at Prudential Investment Managers, in November 2018. The presentation discusses challenges in financial planning given volatility in asset class returns, impact of client behavior on investment performance, and strategies for mitigating sequence of returns risk in retirement. It provides analysis showing the benefits of active management, global diversification, and maintaining growth assets in retirement to maximize long-term returns. The final slides introduce Miranda and include the standard disclosure statement.
Netwealth portfolio construction series - Why are ETFs gaining in popularity ...netwealthInvest
Part of Netwealth's portfolio construction webinar series - Vinnie Wadhera from BetaShares presented to an audience on 14th September 2016 about Exchange Traded Funds (ETFs) and strategies on how ETFs can be used in a portfolio.
The document discusses American Funds and its New Perspective Fund, a global equity fund. It highlights the fund's long history of global research and investing in companies around the world since 1973. It also notes the fund's strong long-term performance compared to other global markets and indexes over the past several decades through various economic cycles.
Active managers have generally not outperformed the market in either bull or bear markets. During the 2008 financial crisis, actively managed funds underperformed the S&P 500 index by an average of 1.67% on average. Studies from 2008-2012 also found that the majority of active managers failed to outperform their benchmarks across various market categories. While markets have historically delivered positive returns, it is typically a small group of top-performing stocks that drive those returns, making it difficult for managers to consistently pick winners. Diversification can help reduce risk and volatility compared to investing only in stocks, as seen during the 1973-1976 and 2007-2011 periods where a diversified portfolio lost less than a pure stock portfolio.
Developing an Asset Allocation Strategy and the Military Familymilfamln
This webinar discusses asset allocation, diversification and strategies to implement an individualized investment plan https://learn.extension.org/events/1715
This document discusses achieving higher returns from lower risk stocks. It summarizes research showing that low volatility stocks have historically outperformed high volatility stocks in terms of risk-adjusted returns. The document advocates using a risk rating system to classify stocks based on volatility into categories like conservative, balanced, adventurous, etc. It shows that more conservative stocks have had higher long-term returns and better performance during market downturns compared to more speculative stocks. The document suggests strategies for investors like focusing on "conservative super stocks" that have attributes like quality, value and momentum to potentially further improve risk-adjusted returns from low volatility stocks.
The document discusses three dimensions of expected stock returns:
1) Company size - Small company stocks tend to have higher expected returns than large company stocks over time.
2) Company price - Lower-priced "value" stocks tend to have higher expected returns than higher-priced "growth" stocks over time.
3) Equity market - Stocks tend to have higher expected returns than fixed income investments like bonds over time.
Smart Beta Investing - Trends and OpportunitiesAmit Sinha
Additional content available at www.focus262.com/blog
Presentation by Amit Sinha at the Copal Amba Breakfast Series that walks through the what, why and where of Smart Beta investing.
Beginning with what is smart beta, then moving to why investors can benefit from smart beta and concluding with where the industry is headed - highlighting the potential market opportunity, challenges, and business models followed by asset managers such as Dimensional, AQR, GSAM, etc.
Investment management is a key function for insurance companies to manage investments backing reserves and capital. Zurich Insurance Group commissions its investment management team to generate superior risk-adjusted returns relative to liabilities for shareholders and policyholders. Investment management creates value through a process that includes asset-liability management, strategic asset allocation, market strategy, asset manager selection, portfolio construction, and efficient asset management. The investment strategy aims to maximize economic objectives while minimizing unrewarded risks in order to create long-term value for stakeholders.
Old vs. New Wealth Management featuring Gerard Michael, CEO of Smartleaf!Windham Labs
On Tuesday, October 16th we were joined by a special guest, Jerry Michael of Smartleaf. In this webinar, we explored the massive changes in the wealth management landscape as well as the forces driving them.
WEBINAR HIGHLIGHTS:
How the core value proposition of wealth management has evolved
Security selection and asset allocation in the current landscape
The modernization of wealth management processes:
Rebalancing portfolios
Customization
Tax management
1. Insurance companies hold significant investment assets to back insurance liabilities and capital reserves. Proper investment management of these assets is crucial as it impacts profitability and the ability to pay claims.
2. Insurers aim to balance risk and return in their investments. While higher returns require higher risk, insurers must ensure risks do not jeopardize their ability to meet liabilities.
3. Investment risk for insurers relates to potential mismatches between assets and liabilities due to market changes. Insurers practice asset-liability management to monitor and control this risk exposure.
This brochure describes funds operated by East West Advisors that feature principal protection against trading losses. The funds purchase investment grade bonds using 70% of assets to provide principal protection at maturity. The remaining 30% is used for commodity trading which could lose value, but the bonds are intended to cover any losses. However, there is no guarantee principal will be protected if the bonds default. The funds aim to provide non-correlated diversification, uncapped growth potential, and principal protection through their hybrid structure of bonds and commodity trading.
IDFC Dynamic Bond Fund_Key information memorandumIDFCJUBI
1. The IDFC Dynamic Bond Fund is an open ended dynamic debt scheme that invests across duration in money market and debt instruments including government securities. The objective is to generate optimal returns through active portfolio management.
2. The asset allocation includes investment in debt securities, money market instruments, units of REITs and InvITs between 0-100%. Up to 50% can be invested in foreign securities, securitized debt and derivatives.
3. The scheme aims to allocate assets across maturity based on interest rate views and optimize returns. It may create segregated portfolios in case of credit events or defaults to deal with liquidity risks.
IDFC Dynamic Bond Fund_Key information memorandumJubiIDFCDebt
1. The document is a Key Information Memorandum for the IDFC Dynamic Bond Fund, an open-ended dynamic debt scheme that invests across duration.
2. The fund seeks to generate optimal returns through active management of a portfolio invested in debt and money market instruments across maturities. It aims to allocate assets across fixed income instruments and durations to optimize returns based on macroeconomic conditions.
3. The fund is subject to market, liquidity, credit, reinvestment, derivatives and other risks which it aims to manage through strategies like increasing allocation to money market instruments in rising interest rate environments and focusing on government securities, corporate bonds and investments with high liquidity.
IDFC Dynamic Bond Fund_Key information memorandumTravisBickle19
1. The document provides key information about the IDFC Dynamic Bond Fund, an open-ended dynamic debt scheme. It seeks to generate optimal returns through active management across different debt and money market instruments.
2. It allows investing a minimum of Rs. 5000 for lumpsum investments and Rs. 1000 for additional purchases. Redemptions and SIP require a minimum of Rs. 500 and Rs. 1000 respectively.
3. The benchmark for evaluating performance is the Crisil Composite Bond Fund Index and dividends may be declared depending on available distributable surplus.
QuantScape Equity Index Program v.1.4.3 (Version 2015-11)Tony D. Yeh
This document discusses an asset management program that trades equity index futures and options. It profiles indexes based on historical and factor data to infer potential price movements. Trades are structured based on discrepancies between the index profile and implied volatility from options prices. Trades use entry limits, loss limits, and profit targets for control. The program aims to generate profits exceeding risks through an integrated loss control process applied throughout trading. Key features include separately managed accounts, transparency, favorable tax treatment, flexibility, and low minimums.
Energy Efficiency Investments In A Pension Fund Asset Allocation, Michael Fri...Alliance To Save Energy
On December 14, 2009, the Alliance to Save Energy and the Renewable Energy and Energy Efficiency Partnership (REEEP) held a side event at the COP15 climate conference in Copenhagen, Denmark, entitled, "Paradox to Paradigm: The Role of Energy Efficiency in Creating Low Carbon Economies."
REITS and business trusts offer investors exposure to stable income-generating assets through regular dividend payments. While both have similarities, there are key differences in their ownership, management and governance structures that investors should understand. When evaluating specific REITs or business trusts for investment, factors to consider include the trusts' underlying assets, leverage, fees and dividend policies, as well as risks related to the market, liquidity, business conditions and income stability. Thorough research into these aspects is necessary before making investment decisions.
This document discusses venture capital performance metrics across different time horizons and benchmarks. It shows that the top quartile of venture capital has consistently outperformed major stock market indexes like the S&P 500 and Russell 2000 over 15-30 year periods. However, the median venture capital fund performance has only modestly outperformed these indexes. There is also a large dispersion of returns between the top and bottom quartiles of venture capital funds.
Information to help you and your family manage your inheritance questions, plan your retirement and ensure you have sustainable cash flow to see you through your twilight years.
The document provides guidance on investment analysis and project selection. It discusses measuring risk and return, using hurdle rates that account for risk, and choosing projects that provide returns above the hurdle rate. The capital asset pricing model is introduced as a method to estimate expected returns based on beta and the risk premium. Diversification and the market portfolio concept are also covered.
This document provides an investor presentation for a Bermuda-based specialty property and casualty reinsurer. It discusses the company's profile, including its A- financial strength rating from A.M. Best. It also outlines key metrics such as diluted book value per share, shareholders' equity, returns, and growth in book value. Additionally, it summarizes the company's total return business model, exceptional management team, organizational structure, underwriting strategy focusing on flexible and opportunistic deals, diversified premium base, and reinsurance risk management approach.
Third Point Reinsurance Ltd. Investor Presentationirthirdpointre
This document provides an investor presentation for Third Point Reinsurance Ltd. It summarizes the company as a specialty property and casualty reinsurer based in Bermuda with an A- financial strength rating. Key metrics on growth in book value per share and shareholders' equity are provided for recent periods. The presentation outlines the company's total return business model, exceptional management team, flexible underwriting strategy, diversified premium base, risk management approach, relationship with leading investment manager Third Point LLC, strong capital base, and growth in premiums since inception.
Portfolio Simulation to Meet Client GoalsWindham Labs
Windham Labs hosts Benjamin Eischen to discuss different types of portfolio simulation and how to apply them to determine the best portfolios for clients.
CGWM At a Glance Presentation Onshore FinalAdam Ross
This document provides an overview of Canaccord Genuity Wealth Management's services and investment process. It discusses that they have over 12,000 clients across four offices, with over £12 billion in assets under management. It outlines their centralised and disciplined investment process, which includes rigorous fund selection and research from their proprietary equity valuation tool Quest. It also discusses how client monies are protected, held in segregated accounts, and how clients can access regular reporting on their portfolio performance.
Capital rationing refers to situations where a company has a limited amount of capital to invest in projects, even if those projects have a positive net present value. There are two types of capital rationing: soft rationing, which is self-imposed by management, and hard rationing, which is imposed by external market factors limiting the company's ability to raise funds. Companies facing capital rationing must use techniques like ranking projects based on profitability index to allocate scarce funds to the most desirable projects.
This document provides an investor presentation for Third Point Reinsurance Ltd. It begins with cautionary statements about forward-looking statements and non-GAAP financial measures included. It then summarizes the company as a Bermuda-based specialty property and casualty reinsurer with an A- rating. Key metrics on growth in book value per share and returns are provided for 2014 and prior periods. The document discusses the company's total return business model, management team, flexible underwriting strategy, relationship with investment manager Third Point LLC, strong capital base, and growth in gross premiums written.
Right Horizons Equity - capital protection portfolio ProductRachna Rego
The document summarizes the Right Horizons Capital Protection Portfolio, which aims to provide double digit returns that beat inflation while protecting capital. It does this by investing 80% in highly rated fixed income securities and up to 20% in equities through ETFs. The portfolio focuses on liquidity, diversity of durations and businesses, and only invests in companies with strong financials and credit ratings. It is recommended for a 24 month investment horizon.
Similar to Asset Allocation and Factor Investing: An Integrated Solution (20)
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Dr. Alyce Su Cover Story - China's Investment Leadermsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
Every business, big or small, deals with outgoing payments. Whether it’s to suppliers for inventory, to employees for salaries, or to vendors for services rendered, keeping track of these expenses is crucial. This is where payment vouchers come in – the unsung heroes of the accounting world.
New Visa Rules for Tourists and Students in Thailand | Amit Kakkar Easy VisaAmit Kakkar
Discover essential details about Thailand's recent visa policy changes, tailored for tourists and students. Amit Kakkar Easy Visa provides a comprehensive overview of new requirements, application processes, and tips to ensure a smooth transition for all travelers.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck mari...Donc Test
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck maria r mitchell.docx
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck maria r mitchell.docx
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck maria r mitchell.docx
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
Enhancing Asset Quality: Strategies for Financial Institutionsshruti1menon2
Ensuring robust asset quality is not just a mere aspect but a critical cornerstone for the stability and success of financial institutions worldwide. It serves as the bedrock upon which profitability is built and investor confidence is sustained. Therefore, in this presentation, we delve into a comprehensive exploration of strategies that can aid financial institutions in achieving and maintaining superior asset quality.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
An accounting information system (AIS) refers to tools and systems designed for the collection and display of accounting information so accountants and executives can make informed decisions.