Insights

From weekly curiosities to the default playground Until quite recently, the idea of an option that expired within the same trading day was considered an exotic corner of the derivatives world. But that has changed dramatically. ...

In our previous post—Hedge Fund Crystal Ball: Can We Really Predict Future Performance?—we looked at the usual suspects investors reach for when trying to forecast hedge fund returns. One term that kept popping up—and that deserves a ...

In an industry where noise often masquerades as insight, one of the most persistent illusions has been that all positive returns are created equal. For too long, portfolios have been judged on nominal performance, as if riding the tide of ...

Bank-sponsored Quantitative Investment Strategies (QIS) are increasingly prominent in institutional portfolios. Whether designed to capture style premia, replicate hedge fund strategies within UCITS structures, or offer tailored overlays, ...

Every option price contains an insurance component: the seller demanding payment for the possibility that tomorrow departs radically from today. On average, the cost of that insurance – the implied volatility – trades above whatever ...

In our previous post on predictability of hedge fund performance, we explored whether hedge fund performance can be predicted—and which factors actually matter. This follow-up dives into one such driver: fund size. Investors often face a ...

When institutional investors think about absolute return, they often look to equity-neutral hedge funds, discretionary macro, or systematic CTAs. Yet in the background, a new liquid and differentiated market has quietly become viable: ...

Executive Summary May 2025 proved friendlier to the systematic-strategy universe than the whipsaw seen in April. Aggregate QIS returns finished modestly positive, dispersion compressed to ≈ 5½ percentage points and—crucially—all five major ...

When we published our blog post on how hedge funds are using Generative AI, we argued that the decisive variable was maturity: the winners weren’t the firms with the flashiest demos but the ones that had already woven private LLMs, vector ...