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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.

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.

Discussion with Philippe Aurain (CIO, 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

ETF: Toward a Tailored Selection Approach

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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

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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

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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.

Events

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

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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.

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

English

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.

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

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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.