On Balance
The end of the old, the start of the new. Going into the beginning of Q4, we will be flooded by the quarterly update season over the next few weeks,but there are a lot more questions to be asked about 2027.
As September starts, it’s time to look at things from a slightly different position. The connected nature of the world’s Oceans provides a clear parallel to the connectedness of global financial markets
With July behind us, the second half needs to build on the realities of the first 7 months of the year – not seek to repeat them.
With the arrival of H2 we take a look at the weather report from the end of H1 and at the prospects for the summer ahead
As we take forward the momentum of May towards the summer months, the forthcoming SpaceX IPO may have bigger implications for markets than we realise…
Sometimes a bit of anecdotal peer review is good for the soul
As April turns to May the next phase for the market gets underway. However, even if it looks similar, April 2026 was not April 2025 – there are a lot of tactical decisions that still need to be made over the rest of Q2.
As markets nervously embrace the new conditions in the Middle East, we take the opportunity to review how our Smart Alpha strategies have fared in March 2026.
The end of the month, the end of the first quarter and the emergence of a changing landscape for the markets and the real world. Our latest weather report takes a look through the “Apollo lens” at the events of the last month and adds in some broader thoughts on how markets are evolving in response.
As equity investor concerns increase over lower beta return expectations from the market portfolio, increased levels of correlations between fixed income and equities and ever higher levels of benchmark concentration, the focus shifts to portfolio construction. By extending our existing Smart Alpha framework we have developed a set of positively convex, all equity portfolios that simultaneously magnify upside returns and hedge downside risks – providing a best-of-all worlds solution to equity risk and return.