Browsing: hedge fund performance

Posts Tagged ‘ hedge fund performance ’

This May Not Be the Apocalypse After All

Aug 9th, 2020 | Filed under: Hedge Fund Industry Trends, Financial Economics Theory, Newly Added, The Global Economy & Currencies, Hedge Funds, Macroeconomics, Finance & Economics

From the point of view of the alternative investment world, the dramas associated with the year 2020 may not constitute as apocalyptic a challenge or as paradigmatic a shift as is commonly thought. It may even be considered, in many respects, business as usual (aside from an occasional “murder hornet.”)Read More


Hedge Funds and 2 Economic Crises: Focus on Systematic and Algorithmic Hedge Funds

May 28th, 2020 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Newly Added, CAIA Alternative Viewpoints, Hedge Funds, Structure of the Hedge Funds Industry, Allocating to A.I.

By Hossein Kazemi, PhD, CFA, Senior Advisor at CAIA Association During the Global Financial Crisis (GFC), the role of hedge funds and their potential to provide significant downside protection was hotly debated. The same debate has resurfaced earlier this year again when markets for risky assets experience double-digit declines withinRead More


Time-varying Equity Volatility Markedly Affects Hedge Fund Performance

May 19th, 2020 | Filed under: Performance, Analytics & Metrics, Hedge Fund Strategies, Newly Added, Risk management, Benchmarking & Performance Attribution, Risk Management Strategies & Processes, Hedge Funds, Structure of the Hedge Funds Industry

By Masao Matsuda, CAIA, FRM, Founder, Crossgates Investment and Risk Management One would think hedge funds can weather market gyrations better than long-only equity investments as hedge funds have greater flexibility in determining the levels of market exposure.  However, while some individual hedge funds may have been successful in adverse marketRead More


Hedge Funds Between the Economics Crises

May 7th, 2020 | Filed under: Hedge Fund Industry Trends, Newly Added, Indexes, CAIA Alternative Viewpoints, Hedge Funds, Structure of the Hedge Funds Industry

By Hossein Kazemi, Ph.D., CFA, Senior Advisor, CAIA Program Introduction The performance of hedge funds since the Global Financial Crisis (GFC) has been hotly debated in both industry and academic studies. There is strong evidence that the GFC had a profound impact on the structure and the relative performance of theRead More


Back(wardization) to the Future

May 3rd, 2020 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Newly Added, Indexes, What about beta?, Hedge Funds

By Aaron Filbeck, CAIA, CFA, CIPM – Associate Director of Content Development at CAIA Association In the title reference, the character Dr. Emmett Brown says this about a bolt of lightning: “Unfortunately, you never know when or where it is ever gonna strike.” Frame of reference is everything when itRead More


3 Threats to Hedge Funds

Mar 8th, 2020 | Filed under: Hedge Fund Industry Trends, Hedge Fund Regulation, Hedge Fund Strategies, Newly Added, Regulatory Environment, Liquid Alts, The A.I. Industry, Fees, Hedge Funds, Liquid Alternative Investiments, Allocating to A.I.

A recent paper by a scholar at Tilburg University and a market participant at Robeco outlines the difficulties that the hedge fund industry has faced over the last decade. These problems arose, at least in part, from the democratization of alternative investing. There are three important challenges to the hedgeRead More


Europe’s Hedge Fund Numbers Growing Again

Jan 2nd, 2020 | Filed under: Hedge Fund Strategies, Newly Added, Event-Driven Hedge Funds, The A.I. Industry, Hedge Funds

Eurekahedge’s latest monthly report includes a special section on the key trends in European hedge funds. It tells us that the total number of European hedge funds grew in 2019, after a decline in each of the four years before (2015 – 2018). In other words, although in recent yearsRead More


Global Hedge Fund Assets Shrink

Oct 20th, 2019 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, CTA, Industry Size & Managers, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Relative Value Hedge Funds, Structure of the Hedge Funds Industry

According to the latest report from Eurekahedge, the world’s hedge funds recorded a net growth of $3.4 billion due to performance in September 2019. On the other hand, September also saw large net outflows of $6.2 billion. Assets at the end of the month were down 0.12%.  Looking at fundsRead More


Eurekahedge: The Return of Alpha

Sep 29th, 2019 | Filed under: Hedge Fund Strategies, CTA, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Commodities, Structure of the Hedge Funds Industry

The Eurekahedge Hedge Fund Index was up in August, 0.17%, easily outperforming the global equity market, as measured by MSCI ACWI, which was down 2.37%. The August number brings the Eurekahedge HFI’s year-to-date result to 6.58%. Approximately 32.6% of the funds Eurekahedge tracks are in double-digits (positive) territory for theRead More


Hedge Fund Performance Gains: Investor Flow Losses

Aug 25th, 2019 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Relative Value Hedge Funds, Structure of the Hedge Funds Industry

Global hedge fund assets under management have stayed close to flat for months now. That’s one of the points made in the latest Eurekahedge report. As of July, the AUM is just a little under $2.3 trillion, or roughly where it has been since late last year. Although there haveRead More


How Endowments and Foundations Look at Hedge Funds

Aug 8th, 2019 | Filed under: Hedge Fund Industry Trends, Consultants, Private Equity, Hedge Fund Strategies, Equity Hedge Funds, Debt Types of Private Equity, Newly Added, Venture capital, Equity Types of Private Equity, High-net-worth investors, Endowments & Foundations, The A.I. Industry, Institutional Asset Management, Fees, Family Offices, Hedge Funds, Private Investments

Cowen’s Capital Introduction Group has compiled information on what the endowment and foundation community is thinking about hedge funds and how best to invest in them. The Cowen paper on the subject begins with the observation, drawn from Preqin, that at present US-based E&Fs with more than $750 million inRead More


Hedge Fund Performance and Fees: Who is Earning Their Keep?

Jul 30th, 2019 | Filed under: Hedge Fund Industry Trends, CTA, Industry Size & Managers, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Fees, Hedge Funds, Relative Value Hedge Funds, Structure of the Hedge Funds Industry

The Eurekahedge Hedge Fund Index was up in June, wrapping up a very strong first half of the year for the hedge fund industry. The monthly increase of 1.83% reverses the down month of May, which in turn was a reversal of the strength of the first four months, withRead More


Net Performance Reporting: Not Just Arithmetic

Jul 2nd, 2019 | Filed under: Hedge Fund Industry Trends, Hedge Fund Operations and Risk Management, Industry Size & Managers, Newly Added, Asset Managers, Operations, Partner accounting, The A.I. Industry, Fees, Hedge Funds, Structure of the Hedge Funds Industry

Why can’t a fund manager simply subtract all fees and expenses from gross returns and present the arithmetical result to existing or potential investors? In a newly released paper, Donald Steinbrugge, the founder and CEO of Agecroft Partners, discusses how hedge funds calculate and present their net performance, and theRead More


Hedge Fund Index Backslides in May; Remains in Positive Territory

Jun 25th, 2019 | Filed under: Hedge Fund Industry Trends, CTA, Industry Size & Managers, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, Funds of Hedge Funds, The A.I. Industry, Hedge Funds, Relative Value Hedge Funds, Commodities

Red ink spoiled an otherwise positive 2019 for he Eurekahedge Hedge Fund Index. The decline of 0.71% leaves the year-to-date performance still well up, at +4.32%. Approximately 41.6% of the funds Eurekahedge tracks were in the black for the month. And 15% have generated double-digit gains year-to-date. North America-mandated hedgeRead More


It’s YOUR Reputation; Time to Beale With It! 

Jun 10th, 2019 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Newly Added, What about beta?, Alternative Investments in Context, Hedge Funds, Structure of the Hedge Funds Industry

By Bill Kelly, CAIA Association CEO The satirical movie Network was released almost 40 years ago. The character Howard Beale, played by the actor Peter Finch, is one of the more enduring legacies of this film. He is a news anchor for the UBS Network, and he is to be terminated in two weeks for fallingRead More


Hedge Funds Performing Well Year-to-Date, But Trade Issues Loom Large

Jun 2nd, 2019 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Hedge Funds, Relative Value Hedge Funds

The Eurekahedge Hedge Fund Index continues to reflect strong performance for the year. First quarter 2019 was one of the strongest quarterly returns since the global financial crisis, and each of its three months was positive. April was another up month, +1.06%, which brings us to +5.15% YTD. Hedge fundsRead More


Hedge Funds: Deep-Diving Into the 2018 Numbers

Apr 18th, 2019 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Structure of the Hedge Funds Industry

Martin McCubbin, a senior research analyst at Fidante, looks at the hedge fund performance numbers for 2018 in a new paper, which shows it was a difficult year. Early going in 2019 has been somewhat better, but that the “better” cannot be relied upon. The rest of this year couldRead More


Eurekahedge: Light at the End of Trade-War Tunnel?

Mar 25th, 2019 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Hedge Funds

During the Vietnam War era, the metaphor of “light at the end of a tunnel” expressed American optimism under stress, The image was supposed to convey the idea that the US and its local allies could eventually attain a favorable peace in that country if only they persevered—that the lightRead More


Hedge Funds: Observing the Unobserved Performance

Mar 14th, 2019 | Filed under: Hedge Fund Industry Trends, Performance, Analytics & Metrics, Hedge Fund Strategies, Alpha & Beta, Newly Added, Benchmarking & Performance Attribution, The A.I. Industry, Hedge Funds, Structure of the Hedge Funds Industry

Two different strands of scholarly research into hedge fund performance produce markedly different conclusions. There is the returns-based approach, which finds that the average hedge fund manager does better than the market portfolio, net of fees. But there is also a holdings-based approach, which looks at the performance of theRead More


Hedge Funds Stronger in January, Thanks to The Fed

Mar 3rd, 2019 | Filed under: Hedge Fund Industry Trends, Performance, Analytics & Metrics, Hedge Fund Strategies, CTA, Industry Size & Managers, Equity Hedge Funds, Newly Added, Benchmarking & Performance Attribution, Event-Driven Hedge Funds, Funds of Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Relative Value Hedge Funds

Risk-on sentiment returned in January, with good news on trade talks and with the Federal Reserve in the United States putting some distance between itself and its 2018 hard-money stance (the Fed started saying in January that it would be “patient” about selling off-balance sheet assets). Globally, hedge funds grewRead More


Eurekahedge: A Rough Time for the European Mandate Funds

Dec 25th, 2018 | Filed under: Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Relative Value Hedge Funds

European hedge fund managers continue to suffer from the uncertainties of the United Kingdom’s impending exit from the EU. The latest report from Eurekahedge says that European hedge funds have posted losses in eight of the first eleven months of 2018. They haven’t been in the positive numbers since July,Read More


Eurekahedge: Hedge Funds Failing to Perform in 2018

Nov 25th, 2018 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Allocating to A.I.

The newest Eurekahedge report says that hedge funds globally are experiencing their worst year since 2008. They are down -2.15% for 2018 to date and in the first 10 months of 2008 they were down a full 9.55%. Other Year-to-Date Numbers Only a minority (roughly 47%) of hedge fund managersRead More


Hedge Funds in the Slow-down Phase

Oct 9th, 2018 | Filed under: Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Relative Value Hedge Funds

Fidante Partners, part of the Challenger Limited Group, has issued a white paper on the performance of hedge funds of various strategies in the slowdown and recession phases of a business cycle. The report, written by Joachim Klement, Fidente’s head of investment research, posits that the world is now inRead More


Eurekahedge: Hedge Funds Trailing Behind Last Year’s Performance

Aug 19th, 2018 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, CTA, Industry Size & Managers, Equity Hedge Funds, Newly Added, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Relative Value Hedge Funds

According to Eurekahedge, with the July numbers on hedge fund performance now available, 8.5% of hedge fund managers have posted double-digit gains in 2018 to date. Most of that gain is focused on those with a long/short equities mandate. That number is quite low. Eurekahedge contrasts it with the firstRead More


Eurekahedge: 2018 YTD Growth Positive but Unimpressive

Jun 24th, 2018 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, CTA, Industry Size & Managers, Equity Hedge Funds, Newly Added, Indexes, Event-Driven Hedge Funds, The A.I. Industry, Macro and Managed Futures Funds, Hedge Funds, Relative Value Hedge Funds

The newest Eurekahedge report says that total hedge fund assets have grown by $26.4 billion in the year to date (through May). The gain is the result of inflow, not of positive performance. Assets flowing in to the industry’s coffers YTD equal $30 billion, and one gets the net growthRead More


News from AIMA: Performance and UK Regs

Feb 27th, 2018 | Filed under: Newly Added, Risk management, Risk Metrics and Measurement, Risk Management Strategies & Processes, Hedge Funds, Risk Management & Operations

New research by the Alternative Investment Management Association (AIMA), in collaboration with Preqin, indicates that hedge funds have produced “more consistent and steadier returns than equities or bonds over both the short term and the long term.” The study employed four scales of time: one year, three, five, and 10Read More


Cautious Numbers Estimates: A Comparative Look

Sep 26th, 2017 | Filed under: Hedge Fund Industry Trends, Industry Size & Managers, Newly Added, The A.I. Industry, Hedge Funds, Structure of the Hedge Funds Industry

On August 29, we at AllAboutAlpha ran a summary of the latest Eurekahedge report, saying that total hedge fund industry assets around the globe were $2.33 trillion, and that this figure was up by $108.6 billion over the first seven months of 2017. We heard soon thereafter from a readerRead More


First Quarter: An Industry Recovers From a Dry Spell

May 18th, 2017 | Filed under: Industry Size & Managers, Newly Added, The A.I. Industry, Hedge Funds, Structure of the Hedge Funds Industry

Preqin’s review of the hedge fund space in the first quarter of 2017 describes the quarter as a time of “return to form” after a dry spell. Two thirds of the investors interviewed by Preqin at the end of 2016 had said that their hedge fund investments had failed toRead More


Natixis asks 500 institutional investors to look into the future

Dec 20th, 2016 | Filed under: Newly Added, The Global Economy & Currencies, High-net-worth investors, Emerging markets, Institutional Asset Management, Allocating to A.I., Finance & Economics

Natixis Global Asset Management has released the results of a survey of 500 institutional investors, asking them their views on prospects for 2017. The surveyed institutions expect that political and economic developments could cause an increase in volatility in the year to come, and active managers have to reset theirRead More


Eurekahedge: Exodus from the Event-Driven Funds YTD  

Oct 23rd, 2016 | Filed under: Equity Hedge Funds, Newly Added, Event-Driven Hedge Funds, Hedge Funds, Relative Value Hedge Funds, Commodities, Allocating to A.I.

The event-driven hedge fund space is the most troubled in a generally troubled time for the industry. According to the new Eurekahedge report, the event-driven strategy “has seen US$14 billion investor redemptions over the past nine months,” and $10.7 billion over just the past six months. The first nine monthsRead More


Tricky Times for Hedge Funds and a Lot of Negative YTD Performances

May 22nd, 2016 | Filed under: Performance, Analytics & Metrics, Hedge Fund Strategies, Equity Hedge Funds, Newly Added, Indexes, Benchmarking & Performance Attribution, Fees, Hedge Funds, Structure of the Hedge Funds Industry

A slim majority of hedge fund managers are in the red year to date, through April, according to the latest report from Eurekahedge. Specifically, 51.4% of managers have negative YTD performance. Over the same period in 2015, the analogous number was only 21.2%. That is a good indication of whatRead More


March Improved, but 2016 Still Rains Red for Hedge Funds

Apr 24th, 2016 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Alpha & Beta, Equity Hedge Funds, Newly Added, Benchmarking & Performance Attribution, Hedge Funds, Allocating to A.I.

The latest report from Eurekahedge indicates that hedge funds worldwide gained in March, though by far less than the underlying markets gained during the same period. Specifically, the Eurekahedge Hedge Fund Index gained 1.33 percent over the month, while the MSCI World Index, representing those underlying markets, gained 5.47 percent.Read More


Eurekahedge: From Latin America to Middle Earth 

Mar 20th, 2016 | Filed under: Performance, Analytics & Metrics, CTA, Newly Added, Macro and Managed Futures Funds, Hedge Funds, Allocating to A.I.

The latest report from Eurekahedge tells us that hedge funds worldwide are down year-to-date through February, -1.27 percent. Dividing the industry by geographic mandates, Latin America is the only region to post YTD gains, +1.9% due to a rally in oil and commodities. Table 1, adapted from the report below,Read More


Eurekahedge: Performance after the ECB Underwhelms

Jan 28th, 2016 | Filed under: Performance, Analytics & Metrics, Equity Hedge Funds, Newly Added, Benchmarking & Performance Attribution, Macro and Managed Futures Funds, Hedge Funds

The latest Eurekahedge report says that regional mandates for the month of December 2015 produced quite mixed results. Asia ex-Japan managers yielded the best results, gains of 1.45%. Their Japanese counterparts produced 0.27%. In annual terms, Asia ex-Japan funds delivered 8.23% in 2015. Such funds saw an annual AUM growthRead More


Blame China; Blame the US Fed, whatever … August Hedge Fund Numbers Stunk

Sep 21st, 2015 | Filed under: The Global Economy & Currencies, Structure of the Hedge Funds Industry

Eurekahedge's latest round-up of hedge fund results by strategy and region makes quantitative what you, dear reader, probably knew: August was bad. The report also includes some discussion of HK/Shanghai arbitrage. Read More


Billion Dollar Claim from Black Swan Fund: Not from Taleb

Sep 7th, 2015 | Filed under: CAPM / Alpha Theory, Performance, Analytics & Metrics

As regular readers of this blog may recall, I have found much to admire in the writings of Nassim Nicholas Taleb. So I am happy that he had decided to put some distance between himself and a recent claim that Universa made $1 billion when bad news from China shook the world's markets in late August. Read More


Eurekahedge: The Markets are Reading the Headlines

Aug 18th, 2015 | Filed under: Commodities, Hedge Fund Strategies, Currencies, CTA, Alpha Strategies, Alpha Seekers

In the three month period that ends with July, Eurekahedge’s Greater China Index (which has 85 constituents) is down 9.39%. That has come about for precisely the reasons that a reader of the pertinent headlines would guess. Read More


The Core Satellite Model: How to Cut Hedge Fund Fees in Half Part II

Jun 25th, 2015 | Filed under: Hedge Fund Industry Trends, Performance, Analytics & Metrics, Alpha Hunters, Alpha Strategies, Alpha Seekers, Fees

Andrew Beer continues his discussion on slashing hedge fund fees without burning yourself or your clients.Read More


If I Can’t Call It a Hedge Fund, What AM I Going to Call It?

May 18th, 2015 | Filed under: Hedge Fund Strategies, Alpha Hunters

Intrepid contributor Doug Friedenberg addresses a burning nomenclatural issue for the investment style formerly known as hedge funds and proposes a solution to save the financial system.Read More


What hath CalPERS Wrought? And Why?

Sep 30th, 2014 | Filed under: Institutional Investing, Fees

Should investors, especially institutional investors, push back (or push back harder than they have so far) against the fee structure preferred by those whom they pay to manage their money? And is the recent announcement from CalPERS such a push? Read More


Looking at the Next Generation of Institutional Investing

Sep 25th, 2014 | Filed under: Hedge Fund Industry Trends, Institutional Investing, Asset allocation

Guest columnist Andrew Beer looks at the changes in institutional investing.Read More


Investing in the Investor

Sep 4th, 2014 | Filed under: Hedge Fund Industry Trends, Retail Investing, Institutional Investing, Alpha Strategies

Guest columnist Diane Harrison looks at what advisors think of hedge funds.Read More


The Delusions a Boom Can Bring and the Perils of Chasing Hedge Fund Winners

Aug 28th, 2014 | Filed under: Portable Alpha & Alpha/Beta Separation, Institutional Investing, Alpha Hunters, Alpha Strategies, Risk management

For an investor allocating slots in its portfolio to hedge funds, the draw of recent outsized performance can be powerful. Thus, the temptation to chase winners. But two members of the Hedge Fund Strategies Group at Commonfund caution against it. Read More


Eurekahedge: Europe-Focused Managers Took Hits in July

Aug 20th, 2014 | Filed under: Performance, Analytics & Metrics, Emerging markets

Banco Espirito Santo, and its CEO Salgado, had emerged from an earlier round of crisis (way back in 2012) with a roseate smell. Their latest smell ... not so good. Read More


Hedge Fund Branding Continues to Drive a Majority Of Asset Flows

Aug 14th, 2014 | Filed under: Hedge Fund Industry Trends

Guest columnist Don Steinbrugge looks at why the same hedge fund firms consistently bring in the assets.Read More


GFIA: June is ‘Listless’ for Many Asia Managers

Aug 10th, 2014 | Filed under: Hedge Fund Strategies, Alpha Strategies, Indexes

For many fund managers working in Southeast Asia, and/or China, June 2014 was “listless,” with numbers that suggest a flat tire. The booms on the ASEAN bourses are concentrated where the fund managers aren’t, in “high beta cyclical sectors.” Read More


How Hedge Funds Need to Adapt Part II

Apr 21st, 2013 | Filed under: Hedge Fund Industry Trends, Performance, Analytics & Metrics, Hedge Fund Operations and Risk Management, Hedge Fund Strategies, Institutional Investing

Part II of a new SEI report on hedge funds and adapting to survival.Read More


Casella on Future of Hedge Fund Industry, Part Two

Aug 2nd, 2012 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Institutional Investing, Alpha Strategies

Mark Casella, leader of the U.S. alternatives group at PwC, explains that no manager "ever wants to put gates up or to announce a suspension," and talks about how the contract provisions that provide for such powers have been modified of late. This is part of the broader issue of the alignment of interests.Read More


Dear SEC: Comments on the JOBS Act

Jul 19th, 2012 | Filed under: Hedge Fund Industry Trends, Hedge Fund Regulation, Real Estate, Private Equity, Regulatory

A veteran of hedge funds and private equity, Jeff Joseph offers some comments to the U.S. Securities and Exchange Commission on the JOBS Act and what this legislation has the potential to mean to the global alternative investment community.Read More


Citi Says: Second Big Wave of Allocations on the Way

Jul 10th, 2012 | Filed under: Hedge Fund Industry Trends, Hedge Fund Strategies, Institutional Investing

In the introduction to their report, the authors quote one of their interviewees, a leader at a European pension fund, who said: “To me, investing is about going back to the basics. Why do I want to be in this asset class? Why do I want this product? Where does it fit in my portfolio?” Much of the report is structured as a discussion of two distinct shifts in the answers that have been given and are being given to those old queries.Read More