News and publications

28-01-21

The ESG trend from a systematic investor's perspective

Those of us who don't yet trade based on reddit forums may remember that another topic was poised to gain relevance this year: Environmental, Social & Governance (ESG) criteria. Even though, regulators have decided to postpone the application of new disclosure rules until 2021 there is no doubt that investors need to adjust their workflows respectively. Our paper illustrates some of the pitfalls and weaknesses of ESG investing and discussed the question what it implies for expected returns.

04-12-20

The Fixed Income Conundrum of Asset Allocators

By fall next year, the great bond bull market will potentially be celebrating its 40th anniversary, with the US 10Y yield having fallen from a high at 15.84% in September 1981 to a low of only 0.51% in August 2020.

Asset allocators who have not given up on generating returns exceeding fees and inflation face tough choices. Those who do not want to bet the bank on equities should better look for alternatives.

23-10-20

A new age of dispersion or just the normal madness of equity markets?

For investors who hoped that the pandemic induced market crash would result in a broad regional, sector or style rotation, the second half of 2020 has been rather awful so far. Totally disappointing the hopes of contrarians, Covid19 has struck a blow for winning investments and battered already underperforming strategies.

30-09-20

How Swiss wealth managers can keep flying

The thought-provoking cocktail of digital (technology) disruption, low yield environment and the rise of passive investment products is severely impacting the traditional Swiss wealth management and many players are not prepared for it.