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Mercer buyout of Hammond augurs boutiques’ demise

Mercer’s acquisition of US-based Hammond Associates marks the continued trend of a new consulting environment that raises the question of whether boutique firms can survive. Amanda White spoke to Mercer’s US investment consulting leader, Jeff Schutes, about why clients’ demand for deeper resources and knowledge is driving the consolidation, and why large firms are rejecting […]
Amanda WhiteDecember 1, 2010
Research

Stock exchange merger and liquidity

This paper by Columbia University’s Ulf Nielsson, empricially investigates the effects of stock exchange consolidation, specifically measuring how it affects stock liquidity and how the effect varies with firm type.
Amanda WhiteDecember 1, 2010
Uncategorised posts

Russell Axioma launches factor-based indexes

Institutional investors’ increasing use of factor-based models to understand their portfolio risk exposures is the conduit for Russell Investments’ collaboration with Axioma to launch a series of factor-based indexes to rival MSCI/Barra, according to Rolf Agather, managing director of research and innovation at Russell.
Amanda WhiteDecember 1, 2010
Uncategorised posts

Diversification is not enough for managing risk

Diversification alone is not enough to manage downside risk, rather academic research in dynamic portfolio theory suggests the three complementary techniques of diversification, hedging, and insurance can be used together to design customised investment solutions, that ultimately separate assets into performance seeking portfolios and liability hedging portfolios, according to EDHEC’s Felix Goltz and Stoyan Stoyanov. […]
 December 1, 2010
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