Insights

Prediction markets are no longer a niche pastime. They are becoming a scalable market structure for pricing discrete outcomes—elections, policy decisions, macro prints, and corporate events—using exchange-style contracts. Two forces make ...

Strategic Asset Allocation has been a running theme in our research this year. In “Strategic Asset Allocation: 6 Practical Frameworks for Better Decisions”, we laid out the core playbook: different ways investment committees can design ...

December felt like the kind of month that often gets overlooked: low volumes, little drama, and a market that largely chose to end the year without forcing a fight. But for systematic strategies, these “quiet” months can be deceptively ...

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 ...

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 ...

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 ...

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 ...

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 ...

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. ...