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EDHEC-Risk Institute is pleased to announce that five new members have joined its international advisory board, which brings together distinguished scholars, representatives of regulatory bodies as well as senior executives from business partners and other leading institutions.
This study analyses the effect of the new LTGA spread risk calibration on bond management.
The European Fund and Asset Management Association (EFAMA) recently ventured that the European Securities and Markets Authority (ESMA) had exceeded its powers and mandate by issuing “quasi-regulation (...) on topics which were not previously regulated at EU level.”
EDHEC-Risk Institute and Lyxor are launching a three-year research chair entitled “Risk Allocation Solutions” to develop academic insights that can be used towards the design of high-performance multi-asset investment solutions, based on specific investor needs.
In a paper produced as part of the research chair on “The Case for Inflation-Linked Corporate Bonds: Issuers’ and Investors’ Perspectives” at EDHEC-Risk Institute, supported by Rothschild & Cie, EDHEC-Risk researchers have provided a comprehensive analysis of the sources of added-value of corporate bonds for institutional investors.
A new study from EDHEC-Risk Institute, entitled “The Local Volatility Factor for Asian Stock Markets,” has shown that using US VIX to hedge the volatility risk of Asian portfolios is not particularly effective.
Earlier this year EDHEC-Risk Institute organised two conferences, EDHEC-Risk Days Europe and EDHEC Risk Days Asia, which welcomed over 1500 delegates. The audience included institutional investors, private bankers, family offices and institutional money managers, in addition to over 70 speakers and panelists composed of industry professionals.
To support the build-up of a strong, home-grown cohort of financial sector and capital market leaders within ASEAN countries and the wider Asia-Pacific region, EDHEC Risk Institute–Asia is creating a scholarship scheme aimed at facilitating the participation of outstanding professionals in the executive track of its doctoral programme in Singapore.
This paper produced as part of the NATIXIS research chair on “Investment and Governance Characteristics of Infrastructure Debt Instruments,” is the first of a series discussing the opportunity for long-term institutional investors such as pension funds, insurance companies or sovereign wealth funds, to invest in large portfolios of infrastructure debt, both to manage their liabilities and to enhance yield.
In order to play their role in a sustainable way, Asian pension systems must be deeply reformed. There is a double constrain: a strong ageing population and a fertility below the replacement rate. This constrain represents a high risk of insolvency for these systems.
Policy makers increasingly wish to see institutional investors become more involved in the financing of the real economy, but matching the supply of long-term capital provided by such investors with long-term investment demand is not self-evident and requires a policy and regulatory focus on the type of instruments that long-term investors need, rather than which sectors of the economy qualify as 'long-term' investment.
EDHEC-Risk Institute welcomes the Principles for the Regulation of Exchange Traded Funds (ETFs) released by the International Organisation of Securities Commissions (IOSCO) on 24 June 2013, which are broadly consistent with EDHEC-Risk Institute’s research on ETFs and recommendations , but deplores the timidity of the organisation’s proposals on index transparency and calls on regulators and index providers to adopt standards on par with those recently defined for European Undertakings for Collective Investment in Transferable Securities (UCITS).