Report Type
Financial Primer Explainer Research Hub
These primers provide foundational frameworks for constructing diversified portfolios and evaluating active management performance within institutional contexts. A primary focus is the development of a 'Foundation portfolio,' where a recommended 70-100% allocation utilizes Strategic Asset Allocation (SAA) models informed by five-year Capital Market Assumptions (CMAs). This methodology emphasizes long-term risk-adjusted returns across traditional asset classes while increasingly integrating alternatives and digital assets to navigate modern market conditions. Beyond broad allocation, the research identifies the Information Ratio as the critical metric for quantifying manager value-add through the 'Fundamental Law of Active Management.' This framework suggests that portfolio breadth—achieved through independent positions in currency, country, and credit quality—is more effective than narrow bets on duration or yield curves. Ultimately, the collected research reinforces that disciplined diversification and maintaining consistent exposure consistently outperform market-timing strategies during periods of volatility.
4 reports available
Looking Under the ETF Hood
This report examines the structural mechanics and risks associated with Exchange Traded Funds (ETFs), warning investors about implementation pitfalls like slippage, leverage decay, and return-of-capital distributions. It emphasizes that due diligence must go beyond expense ratios to understand how an ETF manages its underlying assets.
Bonds and Bold Callables in the Real World
This report details the construction of a new factor model to simulate callable bond prices under the real-world measure (P). It emphasizes using OA yield as an empirical anchor to capture negative convexity and OAS-driven price movements.
Understanding Secondary Valuations in Evergreen Funds
This report explains why secondary transaction prices in evergreen funds often differ from reported Net Asset Values due to liquidity needs and reporting lags. It emphasizes that these negotiated discounts do not alter the underlying fair value of the fund's assets for other investors.
A Guide to Trade Finance
A comprehensive 103-page guide by Deutsche Bank detailing the trade finance ecosystem, including traditional products, supply chain finance, and the emerging digital and sustainable finance frameworks.
All reports
Page 1 of 1