Description: Recaps the evolution of VA products and hedging programs. Reflects on strategic considerations that contributed to relative performance in this market.

Description: This article explores the market volatility of 2008, and addresses the following question: “was the market behaving inefficiently as appeared to be the case in 2008, or was there something truly rational going on, which for most people was hard to see?”

Description: Recaps April 2015 seminar on derivatives use for fund managers and insurers in China. Describes growth in Chinese derivatives market including CSI 300 futures

Description: Comments on how US insurers have compensated for low interest rates by investing in a range of less liquid and lower quality assets.

Description: Chronically low interest rates are a reflection of macroeconomic trends. Care must be exercised in making assumptions regarding mean reversion.

Description: “The Great Tech Bubble is one of the great bubbles and collapses in financial market history. It’s an excellent reminder of the madness that humans in financial markets are capable of. That’s just in case we need another reminder right now.”

Description: Provides an update in the April - Sept 2015 contest organized by the section

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: 2013 Investment Contest challenges section members to assemble an asset portfolio which will prevail in one of three risk/return metrics.

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