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Asset Allocation

CalPERS mulls leverage

The board of the United States’ largest pension fund calls in the experts as it considers applying leverage in its portfolio, part of efforts to improve a 68 per cent liability-funding ratio.
Simon HoyleJuly 20, 2017
Opinion

Assessing smart beta strategies

Analysing smart beta performance and risks is not monkey business. For a better understanding of smart beta strategies it is crucial to analyse their construction.
 January 27, 2016
Opinion

Beyond backtests: considering the robustness of smart beta

Systematic equity investment strategies – so-called smart beta strategies – are usually marketed on the basis of outperformance. However, it is important to recognise that performance analysis is typically conducted on backtests that apply the smart beta methodology to historical stock returns. Concerning actual investment decisions, a relevant question, therefore, is how robust the outperformance […]
 October 2, 2015
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