Investment Process

The Top 20 White Papers of October 2017

The Most Popular and Trending Papers from October 2017

So far this month, more than 17,000 white papers have been downloaded from the Savvy Investor website - a record month! Thank you to our members for your fantastic engagement with the content.

All of these papers are free to access for our 22,000 Savvy Investor members.

Savvy Investor

Active Strategies, Indexing and the Rise of ETFs (BlackRock, Oct 2017)
(For compliance reasons, this paper is only accessible in the USA)
This paper presents the results of the industry's most comprehensive study to date of the global institutional market for exchange-traded funds. ETFs are increasingly being used by institutional investors for a variety of purposes. This report, authored by Greenwich Associates, examines the reasons behind what they describe as a "broad transformation" in portfolio management.

The State Street Growth Readiness Indicator (Oct 2017)
State Street’s Growth Readiness Indicators enable you to assess your objectives, capabilities and strategies for business growth against your peers and competitors. The interactive tool uses data from State Street’s 2017 survey of more than 500 asset managers, asset owners and insurers.

A Primer for Investment Trustees: Understanding Investment Committee Responsibilities (CFA Institute Research Foundation)
This paper examines the trustees' responsibility for setting investment and governance policy, understanding the fund’s mission, establishing objectives, and assessing performance.

Q4 2017 Outlook & Review (QMA)
QMA's Q4 quarterly outlook. Based on the indicators they monitor most closely for recession risk, QMA now considers the odds of a downturn before the end of 2018 to be low.

SSGA Long Term Smart Beta Forecasts, Sept 2017
SSGA present their long-term forecasts for the excess return to be earned from the most common "smart beta" factors. These forward-looking estimates are generated through an assessment of current factor valuations, historical return premiums and other elements.

Eight centuries of the risk-free rate: bond market reversals from the Venetians to the ‘VaR shock’ (Bank of England, 2017)
This paper presents a new dataset for the annual risk-free rate in both nominal and real terms going back to the 13th century.

Invesco Sovereign Asset Management Study 2017: 5-year anniversary edition
(For compliance reasons, this paper is only accessible in certain geographies)
This special 5-year anniversary review delivers insights on three main areas: key numbers, evolution as investors and evolution as institutions.

CIO View: Quarterly Investment Outlook (Deutsche Asset Management, Oct 2017)
(For compliance reasons, this paper is only accessible in the UK)
What can we expect from the central banks? Deutsche Asset Management CIO, Stefan Kreuzkamp, shares his thoughts on this and other market-related activity in this recent video.

Institutional guide to Bond ETFs (BlackRock, Oct 2017)
(For compliance reasons, this paper is only accessible in the USA)
This clever interactive infographic begins by describing the features and uses of bond ETFs, and how and why they are being used by institutional investors. Discover the benefits of bond ETFs and common applications, explore case studies, analytical tools, resources and more.

Emerging-market debt: Navigating the allocation dilemma (Eaton Vance Institutional, Sept 2017)
(For compliance reasons, this paper is only accessible in the USA and Canada)
Eaton Vance explores the positive fundamental changes in emerging markets over the last 10-15 years and how these have helped change Emerging Market Debt (EMD) into a mainstream asset class.

The Six Sins of Smart Beta (Lazard, 2017)
Smart-beta strategies have amassed a strong following as investors try to capture this “low hanging fruit”. But what are the deadly "traps" to avoid?

DB Pension Schemes: Raising cashflow awareness (LGIM, 2017)
(For compliance reasons, this paper is not accessible in the USA and Canada)
Around the world, DB pension schemes are maturing. According to recent research, over half of them are cashflow negative or soon will be. This four-page paper by LGIM explains what schemes can do to better manage their cashflows.

The Shift to Reflation: Assessing the Impact to Portfolios (PineBridge)
Asset-allocation strategies which worked well during the stall-speed regime are unlikely to offer strong risk-adjusted return moving forward. This PineBridge paper explores.

Fixed Income Investing and Interest Rates: From shake-up to the new normal (NNIP, Oct 2017)
(For compliance reasons, this paper is only accessible in certain geographies)
This paper sets out two growth scenarios and their impact on a wide range of fixed income assets.

Estimating Time-Varying Factor Exposures (Financial Analysts Journal, 2017)
The authors develop a methodology to estimate dynamic factor loadings using cross-sectional risk characteristics.

2018 Long-Term Capital Market Assumptions (JP Morgan AM)
JP Morgan explores the complex interplay between secular themes, including global aging and technological innovation, and cyclical factors—that will influence asset returns over our 10- to 15-year investment horizon.

Invesco Global Factor Investing Study 2017
(For compliance reasons, this paper is only accessible in certain geographies)
The 2017 edition of the "Global Factor Investing Study" provides unique insights into factor investing and its increasing popularity through in-depth face-to-face interviews with pension funds, consultants, insurers, private banks and sovereign investors globally.

Enhancing Private Equity Manager Selection with Deeper Data (eVestment)
This white paper explores the research and data behind why top quartile returns are in the hands of the investor and presents advice and insights from industry practitioners on how to leverage data to enhance manager selection.

S&P 500 2016: Global Sales
In 2016, the percentage of S&P 500 sales from foreign countries decreased for the second year in a row, after increasing for three consecutive years.

Asia: Leaning In (KKR, Oct 2017)
KKR delves deep into Asian economics, investment, corporate and societal themes to produce a fascinating overview of the Asian investment outlook.

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