Insights

Strategic Asset Allocation (SAA), epitomized by the classic 60/40 portfolio, worked for decades under stable conditions. But 2022’s equity–bond sell-off showed how fragile static mixes have become as correlations shift. Old assumptions, ...

Institutional investors and family office CIOs know that not all “absolute-return” vehicles are created equal. Hedge funds, UCITS liquid alternatives, and bank-provided QIS products can all deliver alternative strategies – but each comes ...

Liquidity is often thought of as simply “liquid” or “illiquid,” but in reality it exists along a continuum. It represents how quickly and reliably an asset can be converted to cash without significant loss in value. At one extreme, cash ...

Position sizing and sell discipline rarely get the same airtime as asset allocation or manager selection, yet they influence long-term portfolio outcomes just as much. In many investment processes, these decisions sit in a grey area—left ...

Portfolio rebalancing is one of the most consistently overlooked drivers of long-term portfolio resilience. While asset allocation gets the strategic spotlight, it’s rebalancing that ensures portfolios stay aligned with their intended risk ...

Severe market shocks—the far-left tails of the return distribution—threaten not only short-term performance but the long-run compounding of institutional portfolios. Traditionally, allocators treated tail-risk protection as a grudging cost ...

In 2025, Environmental, Social, and Governance (ESG) criteria have vaulted from niche concern to mainstream portfolio driver. Global ESG assets are on track to exceed $50 trillion by 2025 – more than one-third of total managed assets. Over ...

Convertible-bond arbitrage—once a star strategy in the early 2000s—is suddenly everywhere again. Over the past few months my inbox has filled with meeting requests from convert-arb specialists, and their desks are once more the busiest ...

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 ...