The Webcasts channel of IPE.com is a platform for financial professionals to post topical presentations and live interviews.
Building a portfolio strategy to capture factor premiums (audio)
Webcast event: Building a portfolio strategy to capture factor premiums
Date: Tuesday, November 27th 2012
Time: 10.00 UK, 11.00 CET
Presentation by: David Blitz PhD,
Head of Quantitative Equity Research
Portfolio Strategist, Investment Solutions & Research
Research confirms: Factor premiums deliver superior performance
Robeco research confirms the importance of factor premiums in equity returns. Studying the large, liquid portion of the US market since the 1960s, we identified three factor strategies as the most interesting: value, momentum and low-volatility. These factors clearly delivered superior performance over the past fifty years. Not only is there abundant evidence of the strength of these equity premiums in the US market, they are also found in Asian, European and emerging markets as well.
The issue at hand: How to translate theoretical returns into workable strategies
This is not really groundbreaking news. The volatility effect was first recognized in the 1970s; value investing has been around for decades, if not longer; and the momentum factor was documented more than 20 years ago. The question has always been how to translate the theoretical returns cited by academics into workable strategies and client net-returns.
It is not a trivial question, the returns reported in the academic literature from the momentum premium for example, have tantalized investors for years. It was generally recognized, however, that the returns reported by academics would be hard to realize in practice, owing to high risk and transaction costs.
Taking the next step: Building a portfolio strategy to capture Factor premiums
Robeco’s Quant Research Team, together with Investment Solutions & Research, have met this challenge and researched the way that institutional investors can adapt their Strategic Asset Allocation to build a portfolio that is aimed at capturing Factor premiums.
Robeco would like to share these insights with you in the IPE Webcast, on November 27th 2012.
Investing in 2012
sponsored by Robeco - Tuesday, January 24th 2012 (audio)
It is crunch time in the eurozone. With interest rates on sovereign debt having jumped to unsustainable levels, time is running out. Europe’s politicians have finally grasped the gravity of the situation and are pushing for increased fiscal unity within the eurozone, allowing the ECB to take on the role of lender of last resort.
But will this be enough to save the shared-currency region? Is it still likely that one or more peripheral countries will default—or even exit from the euro—if the eurozone does survive? And what will happen if the eurozone collapses?
In the webcast, Leon Cornelissen, Chief Economist at Robeco, will assess the latest developments in this rapidly-developing story and look at the implications for investment strategies. He’ll also evaluate the likelihood of a soft landing in China and whether the recent up-tick in the US economy can be maintained.
How to capture long-term investment opportunities from megatrends? (audio)
Three main megatrends are going to shape the future: demographic change, shortage of natural resources and increasing environmental awareness. These developments are contributing to a fourth issue that could very well pop up in the medium term: higher inflation.
Take demographic change: the world’s population is forecast to grow from the current 6 billion to more than 9 billion by 2050. This growth will not be evenly spread across the globe: 98% will be in emerging markets. This change will be accompanied by a shift in economic power. More importantly, the aging of the population, the rise of the middle class and the changing consumption patterns will also offer investors various opportunities and challenges for future investing that will be discussed in this webcast.
The current and future scarcity of natural resources is linked to the first. One of the reasons is the emergence of the global middle class could cause another round of accelerating price increases in commodities due to scarcity, resulting in a new spike in the next few years. And—at least for the
time being—new supply is turning out to be very limited.
To benefit from megatrends, it is thus crucial not only to identify the trends and themes at an early stage, but also to identify the companies that are set to benefit by providing solutions. This is exactly the expertise of our speakers.
Ongoing recovery in 2011: Market insights (audio)
Date : Thursday, February 3rd 2011
Time : 10.00 UK, 11.00 CET
Presentation by: Léon Cornelissen, Chief Economist at Robeco
Interviewer: Brendan Maton
In 2011, the momentum in the global economy is likely to be maintained, despite the broad fiscal tightening, escalating trade tensions and the ongoing crisis in the eurozone.
Although the world economy is in better shape than it was in 2009, it is clear that it is still in the process of recovering from the blow in 2008-2009. The threat of a financial meltdown has been headed off, but at tremendous cost. World trade has rebounded sharply.
Inventory/sales ratios are low, which makes it likely that the inventory cycle will make a further positive contribution to economic growth in 2011.
Barring a severe external shock, it is unlikely that the major developed economies will slide into recession. The eurozone should muddle through: no defaults are to be expected in 2011, but the likelihood of future restructuring is increasing.
Outlook 2010: Free money and modest growth (audio)
2010 will be a year of further asset-price reflation. Fiscal and monetary policy-makers are in no hurry to implement exit strategies, preferring to err on the side of caution. A double dip is therefore unlikely, despite the drastic reduction in consumer debt. Unemployment will continue to rise and core inflation will come down further. This will create a more benign climate for the global equity markets, especially emerging markets. The US dollar will probably decline further. The yuan will be allowed to strengthen in an attempt to scale down global imbalances.
IPE Pension Fund of the Year 2009: ATP explains its strategy (video)
Bjarne Graven Larsen, chief investment officer at ATP, explains to IPE's Liam Kennedy the pension fund's strategy during the turbulent financial and economic conditions.
Mathijs van Gool and development of the SCA pension funds (video)
Mathijs van Gool, director of the SCA Paper & Hygiene pension funds in the Netherlands, reveals to IPE's Julie Henderson how investments and governance are being improved.
Peter Borgdorff on the future of PFZW (video)
Peter Borgdorff, director of Pensioenfonds Zorg & Welzijn (PfZW) in the Netherlands, talks to Pirkko Juntunen about the pension fund's future and lessons learned from the financial crisis
Ilmarinen's Ritakallio talks about the financial crisis (video)
Timo Ritakallio, CIO of Ilmarinen, discusses with IPE's Martin Steward its strategy for tackling difficult economic conditions
David Bennett-Rees on managing pension funds (video)
Independent UK trustee David Bennett-Rees explains to IPE's Liam Kennedy the complexities of running a UK pension fund.
CAAM's Jean-Francois Pinçon: lessons learned from market downturns (video)
Jean-Francois Pinçon from Credit Agricole Asset Management, explains to IPE's Martin Steward the lessons learned from the recent market crisis, and to adapt over the years.
Clean tech private equity (audio)
Capturing rapid growth and attractive valuations
Fresh Thinking About DC (audio)
Reducing costs, simplifying administration and ensuring tax efficiency for investment managers and pension funds
Active Duration - Robeco (audio)
Emerging Markets - Robeco (audio)
Manager Search - IPE-Quest (audio)