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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

The true performance of ETFs

English
Koris International shares its experience of nearly a decade in assessing Exchange Traded Funds (ETFs) risks and performances to help investors on the complex topic of ETF selection. This first analysis focus on MSCI Emerging Markets Index ETFs, provides full transparency on the extensive list of indicators, data sets and setup elements considered when assessing the quality of an ETF.

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.

Equity Investment Issues Under Solvency II Constraints

English

Solvency II increases the capital requirement for investments in risky assets, thereby representing a challenge for investors under the regulatory framework. This article introduces the problem faced by insurance companies and discuss the various options available or being developped.

The Move to Dynamic Capital Preservation Approach - CERN Pension Fund

English

Historically, most pension funds have relied on a static asset allocation approach aiming at generating returns at least equal to that of a given composite benchmark. The CERN Pension Fund, a Swiss franc defined benefits pension scheme, was one of them. The risk profile they chose conducted them to record pronounced losses in 2008. Dampened by this experience, they adopted a dynamic capital preservation approach in 2010.

Events

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.

View Koris @ Edhec-Risk Days 2012

English

Koris International's workshop presentation at EDHEC-Risk days in London, lead by Dr. Mantilla Garcia, head of R&D, on "developements of dynamic risk-controlled asset allocation strategies" included myths about Portfolio Insurance, the introduction of a Growth Optimal Portfolio Insurance strategy and generalizations of former portfolio insurance strategies.