If indices can represent passively implemented returns in a given universe, then the risk/return profiles among various indices in the same universe should be similar. In large-cap U.S. equities, the S&P 500® and Russell 1000 have had similar risk/return profiles (9.65% versus 9.73% per year, respectively, since Dec. 31, 1993). However, in…
Many equity investors want to help create social benefits while generating strong returns. Achieving these twin goals requires a coherent investment approach. In this paper, we outline a process…
Collateralized loan obligations are robust, opportunity-rich debt instruments that offer the potential for above-average returns versus other fixed income strategies. Here, we explore how these…
In this paper, the authors explore the nature of factors, the types of factors that are important for risk management, and how these analytical tools may provide a more informed approach to…
