Insights

China’s futures market is among some of the most active global markets. In 2021, their exchanges were within the top 10 by trading volume (lots). Source: Orient Futures As of August 2022, the four commodity exchanges have a trading volume ...

Multi-PM platforms were not always popular, particularly due to their high pass-through fees, however they have gained prominence over the recent number of years due to their stability and performance. In this post, we look at 32 multi-PM ...

Credit Managers: Yet Another Comeback Story? 2022 has been marked by a confluence of geopolitical event, as well as the return of a persistent inflation which triggered the first sustained tightening of monetary policy since before the ...

Traditionally, co-investments were part of the playbook of the PE industry (but also real estate, infrastructure and energy partnerships) for many years. Over time, they have been gradually adopted by the hedge fund industry (and other ...

Convertible Bonds and convertible arbitrage were high demand Hedge Fund strategies in the 1990’s up through the financial crisis. The confluence of GFC and the subsequent decade plus of QE was devastating for convertible strategies for two ...

The Russell Rebalance The 2022 Russell Rebalance was a reminder of the risks of the “crowded trade”. Index Rebalance is a popular arbitrage strategy. Historically, stocks scheduled to be added or deleted from an index are projected weeks ...

The London Metal Exchange (LME) Cancels Trades On 7th March, the 3-month LME nickel futures contract jumped above $30,000 per ton as investors speculated on the impact of supplies due to the Russian-Ukraine war. Russia was the third ...

In two previous posts (Identifying Alternative Risk Premium Factors and Alternative Risk Premium Factors), we outlined how Quantitative Investment Strategy indices (QIS) can be used to construct common alternative risk factors that contain ...

Rho risk measures a derivative’s sensitivity to interest rate changes. This Greek risk was relatively dampened in the recent low rate environment but can never be ignored. Similar to Vega, interest rate changes impact longer-term ...