One of the most significant investment developments of recent years has been the emergence of factor-based investing as a mainstay of investment management.
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Factor facts
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House of Cards
For years now we have been extolling the obvious virtue of knowing where value is at any point in time – looking at the expected returns and the discount rate being applied to those cash flows.
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Sprinting for Lent
As we start a new Smart Alpha “Sprint period” for out S&P500 based Strategy, it is worth reviewing how we have performed so far this year.
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Banking on it
In the Spring of 2022 European Banks started to generate Accelerator long signals, slowly but surely, one by one until the sector itself lit up in a green tinge from April – June and here we are today coming out of a positive earnings season, seeing the sector re-rating.
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Why why why?
So, when asked the question ‘Why did you own BP?’ you point at the image of the Apollo Investment Cycle. Answering the more difficult question, ‘Why did you not own BP during the last 2 years ?’ That’s more awkward.
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Knowing Why. Showing Why.
At Libra we think differently and deliver the best user experience for Active equity investors applying the years of experience and understanding that we have in equity markets. We not only know what information is going to make a difference to client performance but provide the best experience.
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Point to Point
It’s the big calls that make the big difference to both Equity and Cross Asset investors and we’ve been doing this successfully for years.
In Part I of the inquiry, I set out some of the structural problems that the Finance Industry is facing in the wake of the macroeconomic adjustments we experienced over the last 18 months or so and the impact that they have had on portfolio returns both in 2022 and in the future. In part II I take a closer look at the range of investment approaches – from passive to active currently being operated in the market and at the types of investment models underpinning them.
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Change is Good
The latest signal / indicator to be added the Apollo EDGE platform has been the Investment Cycle which we discussed in an earlier comment – the ability to show the transition from Value to Re-rating to Growth and De-rating (the cycle) is proving very informative.
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Inquiring minds…
Yet again, the financial industry has had to start the year on the back foot. As lists of dramatic fund level underperformances circulate in the media, the explanations, rationalisations and justifications for failure are being delivered via fund reports and year ahead presentations.