It is common wisdom in the industry that not all alpha factors make good risk factors. There is, however, plenty of evidence in the literature that some of the style risk factors commonly found in fundamental multi-factor models accurately capture factor ... Read more

For investors in emerging market debt, one key decision above any other has dictated performance over the past decade: The use of local versus hard currency bonds. Read more

"I came to see in my time at IBM that culture isn't just one aspect of the game, it is the game." - Lou Gerstner. Read more

I have just spent a week in Brazil visiting infrastructure companies, assets, regulators and government in Curitiba, Brasilia and Sao Paulo. The following research provides an overview of Brazil's infrastructure and the listed companies involved; and ... Read more

In this paper, we use the medium horizon variant of Axioma's newly released Australian fundamental factor model (AXAU4 - MH) to analyse and compare four Smart Beta ETFs listed on the Australian Stock Exchange (ASX). Read more

In a 1970 article in the New York Times Magazine, Nobel Laurette and late University of Chicago Professor Milton Friedman pronounced that "the social responsibility of business is to increase its profits". Read more

Fundamental (discretionary) portfolio managers typically build their portfolios from the bottom up. That is, they identify stocks they expect to beat the market and combine them to create a portfolio. Read more

The "climate wars" pitting the two major political parties against each other has been one of the most debilitating features of the public policy debate in Australia over the past decade. Read more

The past decade has witnessed the birth of a new asset class: Global Listed Infrastructure Securities (GLIS). While investors have embraced infrastructure as an asset class since the 1990s, the idea of investing in infrastructure via listed securities ... Read more

The qualities that make emerging market debt attractive to institutional investors are no mystery: higher coupons than developed market debt, within a diversified investment universe. Read more