Description: The article discusses the characteristics of the high-yielding bank loan asset class.

Description: Derives appropriate hedge ratios for CPPI strategies, taking into account discrete hedge times and market dislocations (gap risk).

Description: Is Risk/Return a sound tool for decision-making? No. It is not consistent, not objective, distorts decision and degrades governance. Why? What shall we do then?

Description: Read the August 2017 issue of Risks & Rewards published by the Investment Section.

Description: Dynamically Hedging Insurance Product Risk by Marshall C. Greenbaum from Risks and Rewards Newsletter, April 2000, Issue No. 34. A dynamic hedging program cab be an effective solution to insurance company market risk management problems.

Description: The author, head of Alternatives Investment Specialists at Fortis Investments, recently presented a research paper on the potential benefits and possible pitfalls of investing in illiquid assets. This newsletter provides a brief summary of that paper. The full paper is available upon request.

Description: This article discusses the possibility of high inflation down the road. The high levels of debt incurred due to the COVID-19 pandemic will be difficult for many countries to support. Central bank activity is "standing in the gap" but this is not necessarily the optimal solution. Inflation can also become an issue due to contagion coming from less financially stable countries, resulting a crisis of confidence, driving up interest rates.

Description: Reviews anecdotal evidence that the current shift to passive investing is an indication that investors are irrationally ignoring market risk.

Description: Feature article discussing the creation and effects of orphaned VEBAs, Voluntary Employee Benefit Associations.