Norbert Fullerton, our Head of Institutional Client Strategy, EMEA, sets out how cash-flow driven investing (CDI) is pivotal for DB pension funds navigating their end-game strategies, helping to reduce funding level volatility, boost investment returns and produce income to meet cash-flow requirements.
Are investors being sufficiently compensated for taking asymmetric risk? In this article, portfolio manager Aneet Chachra and David Elms, Head of Diversified Alternatives, evaluate changing market conditions for equity volatility in the US and UK.
Aneet Chachra and Steve Cain, Portfolio Managers within the Diversified Alternatives team at Janus Henderson, look at the maturity profiles on Treasuries compared with their ‘risk of loss’ history to reach conclusions about where value might lie within shorter maturities.
Ten years ago the reality TV family – the Kardashians – came into our lives, just as the S&P 500 reached its pre-financial crisis peak. Aneet Chachra, portfolio manager in the Diversified Alternatives team at Janus Henderson, takes a look at fat-tail events and the potential value within the options market.
Gold and sovereign bonds are typically the only assets that rise in value during periods of chaos, but at what point does holding gold become detrimental to the performance of a well-diversified portfolio? In this article, fund managers Aneet Chachra and Steve Cain from the Diversified Alternatives team at Janus Henderson explore the value of gold as a hedge against stock drawdowns, particularly for non-US investors, and discuss different ways for investors to start thinking about their own exposure.
The quantitative finance world has recently been transfixed by its version of the East Coast/West Coast feud. But instead of Brooklyn versus Compton rappers, it’s their suburban cousins Greenwich versus Newport Beach arguing over factor timing.
In normal circumstances, the pricing of currency options should reflect, to a good extent, the probability of political upsets, particularly if those upsets have obvious macroeconomic implications. Here, Mark Richardson, and Steve Cain, fund managers in Henderson’s Multi-Strategy Team, examine why, in the run-up to the French presidential election, this does not appear to be the case for EURGBP (the price of euros measured in sterling).