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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.

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.

Discussion with Philippe Aurain (Fédéris GA)

English
Philippe Aurain (Deputy CEO and CIO of Fédéris GA) explains us the positioning of Fédéris GA (FGA), the asset management arm of the social welfare group Malakoff Médéric, and emphasizes on the firm's latest development. Indeed, he introduces the recently launched fixed income fund of funds, Pro Rendement Global, combining FGA's fund selection skills with Koris' dynamic risk budgeting techniques.

Discussion with Nicolas Duban (NExT AM) and Olivier Ramé (Swell AM)

English

Nicolas Duban (Chairman NExT AM), Olivier Ramé (Chairman Swell AM) and Jean-René Giraud (C.E.O. Koris International) exchange views on the evolution of the portfolio management industry in an environment of loose monetary policies. They especially underline the importance of tactical asset allocation under a dynamic risk control framework.

Banque Bonhôte & Cie SA teams up with Koris International

English
In order to continue expanding its institutional product offering, Banque Bonhôte & Cie joins forces with Koris International to offer dynamic risk management solutions to Swiss pension funds and social security plans.

Research

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.

Predictive Systems under Economic Constraints and its application

English

In the research paper ‘Predictive Systems under Economic Constraints’, Maxime Bonelli and Daniel Mantilla Garcia propose a variation of a predictive system that incorporates the economically motivated assumption that equity expected returns are unlikely to be negative. They also present an application within a maximum drawdown control strategy showing the significant risk-adjusted performance improvements of using the system.

European equity ETFs: first signs of excellence

English
European ETFs are said to be much less efficient than their US counterparts. Despite this fact, the MSCI Europe Index ETFs we have analyzed should allow the industry to keep the head up: close to nil tracking error and extremely low tracking differences with the index for most issuers.

High-Yield Investing under Drawdown Control

English

This article illustrates the potential benefits of the excess drawdown control strategy, recently introduced in Mantilla-Garcia (2013). It features a new and more flexible loss control strategy that allows using, for instance, a portfolio of High Yield bonds as performance driver and an Investment Grade portfolio as reserve asset, instead of cash.

Koris’ Research Paper Forthcoming in The Journal of Investment Management

English

“Growth Optimal Portfolio Insurance for Long-Term Investors” has been accepted for publication in the Journal of Investment Management (JOIM). In this research paper, Koris’ head of R&D, Dr Mantilla-Garcia, determines the optimal varying multiplier of a portfolio insurance strategy in the general case with a stochastic reserve asset. The results obtained show that the strategy significantly outperforms the standard CPPI strategy in most scenarios over long horizons.

Events

Koris @ Federis GA’s Institutional Conference – Paris – 08/10/2014

English

Koris International is pleased to announce its participation to the institutional breakfast / debate organized by our partner Federis GA (asset management arm of the French social welfare and mutual group Malakoff Mederic) on October 8th, 2014 in Paris. This event will attempt to provide answers to the following question: “How to combine a diversified fixed-income approach with a risk control methodology in such a low-yield environment?“

Koris @ 13th Academic Conference of IISES – Antibes – 16/09/2014

English

Koris International is pleased to announce that Maxime Bonelli, Koris’ R&D team member, will participate in the 13th Academic Conference of the International Institute of Social and Economic Sciences (IISES) on September 16th, 2014, in Antibes, France. This conference will gather a renowned society of economists, social scientists and professors.

Koris @ Morningstar Investment Conference France – 09/09/2014

English

Koris International chairman and co-founder, Philippe Malaise, will attend to the passive asset management round-table along with index solution providers, Lyxor Asset Management and Vanguard Asset Management, at the Morningstar Investment Conference France 5th Edition on September 9th, 2014 in Paris.

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.