Following the financial crisis, institutional investors began to place greater focus on investment objectives such as downside diversification, lower tail risk, and performance consistency. Absolute return, broadly, incorporates a range of strategies that are designed with these kinds of...

Do high active risk (AR) equity portfolio managers tend to realize a relatively high information ratio (IR)? We explore the AR-IR relationship across various global equity mandates and investment approaches.When evaluating managers, a CIO may choose to compare managers that share a common...

We quantitatively answer the question “What is the optimal number of managers when forming a multi-manager portfolio?” We develop an optimization tool (MAP) that constructs a diversified multi-manger portfolio. MAP allows a CIO to express preferences across different manager types while also...

Based on fractal theory, this paper studies the fluctuation characteristics of the gold market in China. Using R/S analysis and fractal dimension analysis this paper demonstrates that the gold market possesses fractal characteristics and determines the length of the aperiodic circulation on the...

Combination vaccines have become the preferred choice for immunizing children in high- and middle-income countries. However, these new vaccines are prohibitively expensive for low-income countries, causing them to rely on older, less-expensive vaccines. This product divergence decreases...

Institutional portfolios are increasing allocations to illiquid private assets seeking better returns and diversification. However, as allocations increase, a portfolio’s liquidity structure changes, sometimes abruptly. How can a CIO increase their confidence with private asset allocations and...