Investment & Risk Management

Common Pitfalls of Hiring and Firing Investment Managers

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The Long and Short of Extension Strategies

This edition considers the structural impediments to adding value faced by long-only strategies and examines how extension strategies can surmount these obstacles.

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How Risk Management Adds Wealth

Investors instinctively associate risk control with avoiding losses. But limiting risk is also a way to build wealth, especially when combined with systematic, informed risk budgeting constraint.

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How Smart is Smart Beta?

The insights of Smart Beta, if applied judiciously, can contribute to intelligent portfolio management.

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Socially Responsible Investing with Hedge Funds

Some institutional investors seek to align their investment decisions with their social mission and core values by pursuing what has been labeled “Socially Responsible Investing” (SRI).

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Are Hedge Funds an Asset Class?

Although hedge funds do not satisfy the traditional criteria for an asset class, fiduciaries may need to segregate them in policy to reflect their special characteristics.

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Leveraging Portfolios Efficiently

Whether to use leverage and how best to use it to improve the efficiency and risk-adjusted returns of portfolios are among the most relevant and least understood questions confronting investors.

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Semantic Risk: Reading Between the Lines of Your Portfolio

While investors make a science of the study of risk, they consistently create new hazards through the simple act of framing their decisions using terminology that is outdated, misunderstood or misleading.

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Optimizing Your Bond Portfolio Through Risk Factor Modeling

Fixed income investments span a broad range of sensitivities to changes in yields and credit spreads.

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When The Well Runs Dry – Managing Liquidity Through Extreme Markets

U.S. institutions have increasingly adopted portfolios with large allocations to illiquid alternatives.

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A Framework For Managing Active Risk

Accurately identifying and managing active risk exposures is essential to fiduciaries’ efforts to add value over policy benchmarks while limiting the impact of unintended shocks to the portfolio returns.

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Securities Lending – A Hidden Liquidity Trap

This edition describes how the securities lending market functions and how it unraveled during the 2008 credit crisis, and highlights the need to reassess the risk-reward tradeoff of securities lending.

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