Top 20 Whitepapers of September 2018

The Most Popular and Trending Papers of September 2018

We hope you enjoy this selection of Savvy Investor's top papers for the month of September. We've included a detailed description of trading strategies, analysis of the world's 300 top pension funds, multi-asset outlooks, factor investing insights and several additional topics of interest.

The world's largest pension funds (Willis Towers Watson, 2018)

Willis Towers Watson's Thinking Ahead Institute analyses the largest pension funds across the globe, including details of AUM, growth rates, DB vs DC breakdown, and their full top 300 funds ranking. 

Is Your Absolute Return Strategy the Right Fit? (Intech Investments, 2018)

(For compliance reasons, this paper is only accessible in certain geographies)

The category of absolute return strategies is rather broad, but this paper introduces a way to evaluate their diversification benefits - by examining how effectively they reduce equity volatility.

Responsible Investing That Reduces Your Carbon Footprint (DWS AM, 2018)

(For compliance reasons, this paper is only accessible in the United Kingdom)

DWS looks at the drivers behind low carbon investing, the pros and cons of tilting portfolios towards securities with a high ESG rating, and differences between adopting a divestment or engagement policy with low-ESG-scoring companies.

The State of Global Trade Tariffs in 6 charts (Capital Group, Sept 2018)

(For compliance reasons, this paper is only accessible in certain geographies)

Six charts were selected by Capital Group's investment team to highlight key characteristics about global trade, including US tariff levels, trade balances, digital trade projections, and more insight into the US-China relationship.

Our #1 Challenge: Retirement Insecurity (Financial Analysts Journal, 2018)

Retirement insecurity is a widespread thread affecting approximately two-thirds of retirees. This paper presents the need to raise the alarm about retirement security in order to safeguard future retirees from negative outcomes. 

Investment Outlook for the Automotive Industry (William Blair, 2018)

Technology is taking the wheel and driving significant changes throughout the automotive industry, via ridesharing, electric vehicles, driver-assistance systems, and other advancements that could create value for active managers.

151 Trading Strategies (Kakushadze and Serur, 2018)

This report provides a comprehensive description of 151 different trading strategies that are applicable across a host of trading styles and asset classes, also including formulas and references for further research.

Trade tensions will get worse before they get worse (Manulife AM, Sep 2018)

(For compliance reasons, this paper is only accessible in the EMEA region)

US-China trade tensions are escalating, as both sides ramp up tariffs on imported goods. Manulife describes the risk of contagion and the effects on other trading partners, as well as the possibilities for de-escalation. 

U.S. Economy in a Snapshot (FRBNY, Sep 2018)

Several staff member from the Research and Statistics Group within the Federal Reserve Bank of New York compile their observations on the U.S. economy to form this snapshot.

2018 Global Survey of Accounting Assumptions for DB Plans (Willis Towers Watson)

Accounting assumptions relevant to DB plans, such as expected rates of return, discount rates, inflation projections, and mortality are surveyed in this report from Willis Towers Watson. 

Hedge Funds In the Late Stages of a Business Cycle (Fidante Partners, Aug 2018)

Fidante Partners looks at the ways that common hedge fund strategies behave during the late stages of business cycles.

10 Years After: A Changed World for Financials? (Axioma, Sep 2018)

This paper by Axioma examines U.S. financial stocks pre- and post-financial crisis. The 10th year after the Lehman failure is a good time to reflect and bring out important insights and perspective.

The Future of Sustainable Investing in Europe and Beyond (State Street, 2018)

This year, the European Commission has proposed a reform package for the asset management industry that aims to entrench ESG practices into the investment process and increase transparency regarding sustainable finance.

Understanding ESG in Credit Portfolios (Macquarie, 2018)

This paper analyses how ESG factors interact with credit quality, how they affect the pricing of credit, and finally how they affect credit returns.

Investment Outlook Q4 2018: The uncharted path (Fidelity International)

(For compliance reasons, this paper is only accessible in the UK and Europe)

Fidelity International's multi-asset outlook examines the uncharted path ahead for global markets as well as the present macroeconomic environment. Just how much room is left on the runway as we forge ahead into Q4? 

A Framework for Analyzing Multifactor Funds (Morningstar, 2018)

Morningstar presents a framework for understanding portfolio construction techniques within equity multifactor funds, as the number of funds of this type has ballooned in recent years.

Multi-asset market outlook (Robeco, Sep 2018)

This monthly document by Robeco provides insights into the outlook for global equities, bonds, and foreign exchange. The authors also provide a brief regional economic analysis for the United States, Europe, Japan, and China.

Fact, Fiction, and the Size Effect (AQR Capital Management, 2018)

AQR Capital Management examines the size effect in detail, illuminating some common misconceptions and clarifying details of this anomaly that are reinforced by AQR's own tests on publicly available data.

Asset Management in the UK 2017-18: Annual Survey (The Investment Association)

In asset management, the UK is second only to the USA. Members of the Investment Association hold approximately ￡7.7 trillion AUM. This paper provides insights into the outlook for the UK investment industry.

Asset Management in Europe: An overview (EFAMA, 2018)

This 12-page paper looks at the asset management industry in Europe, including information about 3rd party asset managers, clients, asset allocations, AUM, and more.

ABOUT THE AUTHOR

Andrew Perrins is a former Actuary and Asset Allocator. as an Actuary, he worked for 15 years in, serving as Director of Asset Allocation for Abbey Life Chase Manhattan, before setting out on a more entrepreneurial path. 

To contact him, email [email protected]