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Launch of TrackInsight – First European ETFs Analysis Platform

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

Bank of America Merrill Lynch Appoints Koris International as Investment Advisor

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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

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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.

Discussion with Philippe Aurain (Fédéris GA)

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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.

Research

Solvency II In: Risky Assets Out?

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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.

Low fees, not enough to be good, but it does not hurt

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Our ETF Inside Out September Analysis focuses on a highly competitive index: the FTSE 100. The market offers a dozen of funds replicating this index and the competition is fierce with a few players aggressively targeting investors with expense ratios as low as 9bps. The tracking difference (yearly excess return) between the best and the worst performer over the comparison period is astonishing: 65bps.

Dynamic Smart Beta Investing

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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

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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.

Events

Koris @ the Institutional Investors Conference in Vienna – 12/11/2014

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Koris International will participate in the Institutional Investors Conference (Fachtagung für institutionelle Investoren ) organised by the AIFM federation in Austria on November 12th, 2014 in Vienna.

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

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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

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(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

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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.