Why Track Records Matter (and What They Actually Tell You)

When we evaluate past performance, we’re doing more than flipping through history. We’re trying to answer: how likely is it that this return pattern reflects genuine skill—rather than luck or beta exposure? This is where statistics becomes ...
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6 min read

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The Great Alpha Migration: How Passive Investing Redrew the Map

Once upon a time, alpha was everywhere It appeared in small caps, unloved cyclicals, illiquid bonds, or mispriced convertibles. A sharp analyst and a contrarian view could go a long way. Active managers charged premium fees for uncovering ...
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7 min read

Resonanz Capital Launches First UCITS Liquid Alternatives Fund with Open-Architecture QIS and Multi-Strategy Design

Resonanz Capital today announced the launch of the Resonanz Jazz Multi-Strategy Fund (“Jazz”), an innovative UCITS-compliant Liquid Alternatives solution that blends quantitative investment strategies (QIS) with the expertise of leading ...
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4 min read

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Public-Private Convergence: What Investors Need to Know

For decades, the public and private markets were distinct arenas. Public markets were all about liquidity, transparency, and daily pricing. Private markets offered access to longer-term, illiquid opportunities in exchange for potentially ...
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5 min read

Bridging the Gap: Comparing Public and Private Market Investment Performance

In today's investment landscape, the lines between public and private markets are becoming less defined. As companies and investment vehicles move more freely between these two realms, it's critical for investors to have reliable methods ...
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5 min read

Hedge Funds, Repos, and the Hidden Plumbing of Leverage

You’ve probably come across headlines like “Fed Eyes Hedge Fund Leverage” or “Regulators Target Repo Market Risks.” These stories point to a broader question: What exactly are hedge funds doing with repurchase agreements (repos), and why ...
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7 min read

Portable Alpha: A Hard Look Under the Hood

Not so long ago, we wrote a piece explaining Portable Alpha and how attractive it can seem: you take a solid alpha source (hedge fund, alternative strategy, etc.) and “port” it onto a cheap beta exposure (futures on equities, bonds, or ...
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5 min read

Structured Credit: Why SRT and CLO Are Different Games

In our previous blog post, we introduced Credit Risk Transfer (CRT) transactions, also known as Significant Risk Transfer (SRT) transactions. Both terms—CRT and SRT—are often used interchangeably within the financial industry, so for ...
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4 min read

Putting a Price on Flexibility: Reassessing Hedge Fund Lockups

When investors commit to a hedge fund with an extended lockup, it might seem like a small price to pay in pursuit of exceptional returns. After all, strong managers often say, “Trust us; we need the time and stability to execute our ...
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4 min read

How Index Arbitrage Taps Into the Heart of Modern Markets

Index arbitrage is one of those market strategies that operate in the background, quietly profiting from market mechanics that many investors barely notice. Yet, for those who understand it, it’s a powerful way to capitalize on predictable ...
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