Other Alternative Investments - Articles & White Papers
Articles and research on other alternative asset classes (those outside of mainstream alternatives). Some alternatives within this section are insurance-related, so there are a number of white papers on catastrophe bonds, reports on reinsurance securities, and securities backed by life settlements (secondary market for life insurance policies). Is volatility an asset class? This is debatable, but we have included in this section papers on volatility as an asset class or "opportunity class", including the use of short volatility to... enhance portfolio returns. Master Limited Partnerships are another, relatively new alternative asset, and our listing includes white papers on MLPs, which provide relatively high income with stable cash flows. Other exotic alternatives include institutional investment in wine and institutional investment in art, with one paper examining the characteristics of art funds and their typical investments, while another examines the history of bubbles in the art market. PwC author a report on alternative investment asset classes which considers oil and gas MLPs and insurance flavored products, among others.
This document outlines Libra's plans for a new decentralized blockchain, a low-volatility cryptocurrency, and a smart contract platform that together aim to create a new opportunity for responsible financial services innovation.
This detailed paper (70 pages) takes a deep dive into the world of cryptocurrencies. It examines the roots of crypto, the case for institutional crypto-investors, market sentiment, crypto mining, and much more.
Policymaking circles are debating the pros and cons of making central bank digital currencies (CBDCs) available to the general public. While they debate the issues at stake, central bankers need to understand that maintaining the status quo is unlikely to be a practicable option.
DWS Asset Management describes how microfinance funds can be a vehicle for the delivery of financial services and insurance products to underserved populations, as well as serving other sustainable development goals such as climate resilience and gender equality.
DWS Asset Management describes how microfinance funds can be a vehicle for the delivery of financial services and insurance products to underserved populations, as well as serving other sustainable development goals such as climate resilience and gender equality.
After the mortgage-backed crisis of 2008, investors fled the collateralized debt obligation (CDO) space causing the asset-backed space to decline sharply as investors feared that the market and interest rate risk embedded in these securities were too high. But over the past few years the amount of asset-backed securities…
Now in its 19th edition, the Alternative Fund Administration Survey acts as a key indicator on the growth and maturity of key service providers to alternative asset managers. This survey is based on our conversations with and data submitted by 30 participating firms from a variety of sizes and locations to provide a…
Calibra will be launching a digital currency network called Libra, which will have a digital currency called GlobalCoin. For us, despite the hype being made of it, this is a moment to ask not ‘what, but why?’ And ‘Why now?’. I’d like to share a few key insights on why we think Facebook is going down this route, and to…
If behavioral biases explain asset pricing anomalies, they should also materialize in cryptocurrency markets. I test more than 20 stock return anomalies based on daily cryptocurrency data, and document strong evidence of price momentum. Controlling for market and size, price momentum remains statistically significant,…
The exponential rise and volatility in the price of Bitcoin has heightened investor interest in cryptocurrencies and crypto assets. These assets have attracted a growing number of investors but also have been used to facilitate a wide range of illicit activities. In some cases, legitimate participants in crypto asset markets…
This report provides an overview of the global crypto hedge fund landscape and offers insights into quantitative elements such as liquidity terms and performance, as well as qualitative aspects such as best practice with respect to custody and governance. By sharing these insights with the broader crypto industry, the goal…
Due diligence is the foundation for investors looking to build a quality portfolio and is arguably the point at which they have the greatest influence on the outcome of their commitments. With allocations to private markets strategies continuing to grow, it is an area we have observed investors’ placing an increased focus on…
Crowding is a major concern for investors in the alternative risk premia space. By focusing on the distinct mechanics of various systematic strategies, we contribute to the discussion with a framework that provides insights on the implications of crowding on subsequent strategy performance. Understanding such implications is…
We illustrate, by way of example, that Bitcoin’s long-term price is non-random and can be modeled as a function of the logistic growth of number of users n over time. Using observed data for both Facebook and Bitcoin, we derive the relationships between price, number of users, and time, and show that the resulting market…
This is Willis Re's 9th semi-annual publication of the reinsurance market. The report tracks the capital and profitability of the global reinsurance industry.
This paper builds a model with imperfect competition in the banking sector. In the model, banks issue deposits and make loans, and deposits can be used as payment instruments by households. We use the model to assess the general equilibrium effects of introducing a central bank digital currency (CBDC). We identify a new…
In their turn-of-the-year review, GAM Systematic’s Lars Jaeger and Paolo Scripelliti asserted their belief that 2018 will probably go down in history as the year Alternative Risk Premia (ARP) strategies made the transition from niche to mainstream. However, as is often the case with cutting-edge investment concepts,…
