< The 2014 All-Europe Research Team
It’s three years running at No. 3 for Nomura International. Led by Inigo Fraser-Jenkins, the seven-strong squad in London is the “best-equipped and resourced team,” one champion reports, “covering the most relevant and important topics in the quant space.” Talking about the rise of so-called smart-beta products, Fraser-Jenkins reports that “there’s a move toward multivariate alternative beta — that is, alternative beta that uses several different factors. So far,” he cautions, “the really successful alternative-beta strategies have been essentially using one factor, and that worries me.” His crew deems the use of multiple variables more well founded and advises clients that “any strategy that is predicated on one factor, however sophisticated, is going to underperform at some point,” he says. Institutional investors such as pension funds, moreover, will want to “invest in something that’s perhaps more broadly founded and could hopefully perform in different regimes,” Fraser-Jenkins concludes. Another money manager is impressed with the analysts’ “always very accessible research, with down-to-earth principles that are rooted in the practical world.” See also Inigo Fraser-Jenkins's profile in the 2013 All-Europe Research Team and 2012 All-Europe Research Team. |