Innovation and Energy are likely to be two of the most attractive investment themes in the coming years. The world is moving to an increasingly technical and digital age, and the search for renewable sources of energy intensifies as the detrimental impacts of climate change increase in frequency...

The increasing complexity and de-localization of finance has allowed for an obfuscation of fees and costs that asset managers charge to asset owners. This obfuscation has, in turn, led to a distortion in the underlying incentives that asset owners set for the capitalist system. In this chapter,...

Alternative data (alt-data) is becoming an increasingly powerful tool that investors can use to incorporate sustainability considerations – e.g., environmental, social, and governance (ESG) factors – into their decision-making. But alt-data must be used responsibly. Failure to do so can...

Investment returns are produced by combining financial assets with human capital, the decision-making protocols of investment institutions, and the electronic infrastructure which supports the flow of information about investment opportunities. At the centre of the production process stand...

Unbundling fees for financial services – e.g., separating payments for third-party research from commissions for trade execution – is in the long-term best interests of institutional asset owners: it can increase both transparency and alignment with intermediaries, such as external asset...