Resonanz Capital Insights

Monthly QIS Review - November 2025

After a strong October, November felt like a month where markets simply took a breath. Headline indices didn’t move much, yet under the surface, the rotations were meaningful—and quantitative investment strategies picked up on those shifts ...

4 min read

Beyond the Hype: 5 Surprising Ways AI Is Quietly Remaking Finance

Most discussions about artificial intelligence in finance still revolve around one idea: an ultra-intelligent machine beating the market. It is an entertaining image, but it distracts from the real transformation that is already reshaping ...

6 min read

Apples-to-Apples: Assessing Evergreen Hedge Funds vs. Closed-End Private Funds

Allocators routinely compare hedge fund track records against private fund IRRs. That’s a category error. Evergreen vehicles report time-weighted returns (TWR); closed-end programs are cash-flow engines best judged by money-weighted return ...

6 min read

Resonanz insights in your inbox...

Get the research behind strategies most professional allocators trust, but almost no one explains.

Why Emerging Markets Macro has Outperformed in 2025

EM macro has been the right place to be and take risk in 2025. Emerging markets macro hedge funds have outperformed YTD, helped by a weaker-or-at-least-not-stronger dollar, high EM real yields, cleaner balance sheets, and a rich menu of ...

8 min read

Understanding the 2025 Quant Unwind: A Practical Guide for Allocators and Managers

This note complements our earlier article on separating durable alpha from disappearing edge (Evaluating Hedge Funds in a Crowded Market). That piece helped allocators assess managers across styles. Here, we narrow the lens to systematic ...

7 min read

Designing Failure-Tolerant Hedge Fund Programs: Preparing for Blow-Ups, Gates and Forced Deleveraging

Hedge funds are now core to institutional portfolios, not tactical side bets. Industry assets are approaching USD 5 trillion, with record inflows from institutions in 2024–25 and capital concentrating in a small group of large platforms. ...

11 min read

Hedging in the Age of Creeping Risk: A CIO’s Masterclass

I’ll admit it: for a long time, I thought hedging was a solved problem. In my head, it was a neat, mostly technical exercise. You identify the portfolio’s unwanted sensitivities—its delta, its skew, its tail risk—then you go to the market ...

10 min read

Risk Mitigation with Hedge Funds: An Allocator's Approach -and the Lessons That Endure

Institutions are putting hedge funds back to work as risk tools, not side bets. The signal is clear: BlackRock’s Investment Institute has urged allocators to lift hedge fund weights by up to five percentage points, its largest guidance on ...

5 min read

Capital Structure Arbitrage: When Equity and Credit Disagree

Capital Structure Arbitrage (CSA) looks for mispricings between a company’s equity and its liabilities (bonds/CDS/loans/convertibles) and then constructs offsetting positions to isolate the relative value. At its core is a simple idea with ...

8 min read

Cat Bonds: What Allocators Need to Know Now

Catastrophe bonds (cat bonds) have moved from niche to mainstream allocator tool. Record primary supply in 2025—$10.5bn in Q2 alone and a $54–56bn outstanding market mid-year—reflects insurers’ demand for alternative capital and investors’ ...

7 min read

1 / 17Next Last

Insights