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Launch of TrackInsight – First European ETFs Analysis Platform

English

Koris International proudly announces today the launch of TrackInsight, the first platform providing analyses on the replication quality of European ETFs for institutional investors (www.trackinsight.com). Three of the five largest European ETF providers have already recognised the soundness of the initiative.

Discussion with Alain Raffeau (bond manager, Federis GA)

English
Alain Raffeau, fund manager of Pro Rendement Global, dynamic credit fund, recalls the reasons why Federis GA - an asset management company with social economy roots managing more than 25 billion euros of assets (as of June 30, 2014) - has partnered with Koris International and outlines the benefits of the joint solution in a rock-bottom yield environment.

Bank of America Merrill Lynch Appoints Koris International as Investment Advisor

English

On February 3rd 2014, Bank of America Merrill Lynch announced the launch of the Merrill Lynch Investment Solutions (MLIS) - Merrill Lynch Dynamic Capital Protection UCITS Fund, managed by Merrill Lynch International and advised by Koris International.

Launch of Swell Enhanced Cash Dynamic Allocation

English
Koris International is very pleased with Swell AM announcement on April 3rd, 2014 regarding the launch of Swell Enhanced Cash Dynamic Allocation with €40 million AuM, a French mutual fund solely dedicated to professional investors and advised by Koris International. The fund aims at beating the EURIBOR 3 Months Index + 100bps while limiting the maximum drawdown to 2% over a 12 month rolling horizon.

Fédéris Gestion d’Actifs Selects Koris International as Advisor for the Launch of a Fixed Income Fund

English
Following a Request for Proposal (RFP) launched in 2013, Fédéris Gestion d’Actifs has chosen Koris International to develop and implement a dynamic asset allocation model tailored to the specific features and constraints of Investment Grade, High-Yield and emerging debt markets.

Research

ETF: Toward a Tailored Selection Approach

English
Selecting an Exchange-Traded Fund (ETF) cannot be based on a sole performance measure common to all investors. Indeed, investors have their own specific investment purposes and the quality assessment of ETFs vary from one to another with regards to which indicators are favoured. Using examples of three major equity indices, Maxime Bonelli (R&D engineer at Koris International) highlights that ETF selection should be carried in an investor-specific framework founded on statistical indicators measuring the tracking quality deemed relevant by the end-investor.

S&P 500 ETFs – When Good Tracking Error Hides a Surprise

English

With a deep and liquid market, one would expect the competition among ETFs replicating the S&P 500 to be fierce, resulting in very comparable funds. Despite exhibiting very low tracking error levels, ranging from 1/10th to 3/10th bps over two years, the seven S&P 500 trackers analysed in our study show very large discrepancies in terms of tracking difference (i.e. the real total cost of ownership investors bear over the long run).

Solvency II In: Risky Assets Out?

English
In this article, Jérôme Malaise investigates the Solvency Capital Requirement (SCR) market risk module and emphasises on the resulting asset allocation conundrum faced by insurance companies. He further discusses how dynamic asset allocation strategies supplemented with a formal risk transfer (using derivatives) can provide a solution for insurers to access to capital intensive assets (e.g. equity) while benefiting from a much reduced SCR.

Dynamic Smart Beta Investing

English

Koris International recalls the latest advances of relative risk control in the Smart Beta universe, and argues that Dynamic Risk Budgeting techniques with properly defined floors can allow gaining access to their long run expected over performance while controlling for the potential underperformance to a level set ex-ante.

Events

Koris @ 8th International Conference on Computational and Financial Econometrics

English
Koris International is pleased to announce that Maxime Bonelli, Koris’ Research & Development team member, will participate in the 8th International Conference on Computational and Financial Econometrics (CFE 2014). This event is organised by the CFE network, Queen Mary University of London and the University of Pisa. The latter will host the conference from December 6th to 8th 2014.

First Edition of the Agefi ETF Awards

English
Koris International is pleased to cooperate with L’Agefi – renowned French daily newspaper covering the latest national as well as international economic and financial news, on the first Grands Prix ETF edition.

Financial Econometrics and quantitative risk management: Mr Bonelli’s thesis

English
Maxime Bonelli (R&D Engineer at Koris International) is pursuing researches on financial econometrics through his PhD in applied mathematics to risk assessment in quantitative portfolio management.

Focus on Koris International in Newsmanagers

English
(Erick Jarjat, Newsmanagers) The investment advisory firm Koris International started 2014 remarkably well with announcing several commercial agreements in France and abroad. In an interview to Newsmanagers, Jean-René Giraud, Koris' CEO, discusses the firm's history, strategy and forthcoming developments.

Koris International and Instit Invest Join Forces on Asset Allocation Related Themes

English
Koris International, recognized expert in dynamic asset allocation techniques, and Instit Invest, first media exclusively dedicated to the institutional investors community, announce the signing of a cooperation agreement with regards to asset allocation issues faced by European pension funds, insurers and other professional investors.