Research Overview

Rutherford Franklin Ltd.'s active research agenda includes the development of white papers and other thought pieces on key investment topics. Some of these papers may be available to qualified investors.

  • Key Investment Topics

  • The Case for Active Management

  • Why an active process, even if based on publicly available information, can work.

  • Rutherford Franklin Ltd.'s Emerging Markets

  • The case for Rutherford Franklin Ltd.'s approach to emerging markets.

  • The Emerging Markets Small Cap Opportunity

  • As the emerging markets asset class matures, many investors are looking to more specialized mandates, including small-capitalization equities.

  • Emerging Small versus Frontier Markets

  • How do emerging market small companies compare to frontier market companies as investors seeks areas that offer more potential than the broad emerging markets asset class?

  • Non U.S. Small-Cap Investing

  • Small-cap stocks have long been an essential part of U.S. equity portfolio diversification. Outside the U.S., these stocks may play an equally valuable role in an international portfolio.

  • The Case for Frontier Markets

  • The outlook for investing in frontier market equities is attractive, and the long-term potential for this asset class is significant.

  • Rutherford Franklin Ltd.'s Approach to Frontier Investing

  • Rutherford Franklin Ltd. offers an investment approach that we believe is well-suited to generate attractive risk-adjusted returns for the frontier investor.

  • Frontier Markets: The Case for Active Management

  • In Rutherford Franklin Ltd.'s view, the frontier investment opportunity lies in two areas:
  •       1) asset class appreciation and
          2) the alpha opportunity from active management.

  • Emerging Markets Debt - Measuring Risk in Local Currency Bonds

  • There are many ways that EM bond risk can be measured and quantified, in particular in the context of a diversified portfolio.

  • A Quantitative Approach to Responsible Investing

  • An increasing wealth of data availability is allowing quantitative managers to make a distinctive impact on the responsible investing industry, given their focus on creating objective investment theses that are rigorously evaluated for material impact.

  • Remove the Long-Only Constraint On Global Equity Performance

  • Managers need not use an inordinate amount of leverage to gain a great deal in terms of efficiency within a global equity portfolio.

  • Dispelling the Myths in Frontier Market Bonds

  • Investors should not assume that highly attractive frontier market debt is un-investable or available only in lower yielding, dollar-denominated issues.

  • Managed Volatility Papers

  • Managed Volatility Equity Strategies Overview

  • Traditional finance is based upon the idea that risk is rewarded with higher average returns. However, it may surprise many investors to learn that over the past 40 years U.S. portfolios comprised of high-risk stocks have substantially underperformed their lower-risk counterparts.

  • Diversifying Away from Cap-Weighted Indices

  • Managed volatility investing is today one of asset management's most promising and yet under-invested areas.

  • Managed Volatility vs. Hedge Funds

  • How managed volatility portfolios are similar to long/short and hedge funds and crucially, how they differ.

  • Managed Volatility and Value

  • The low-volatility anomaly cannot be explained by conventional factor exposures.

  • Managed Volatility in Asset Allocation

  • What role can low-volatility portfolios play in institutional asset allocation?

  • Managed Volatility versus Fundamental Indexing

  • These two approaches are often discussed interchangeably, but in reality differ greatly in approach and results.

  • Understanding Risk-Based Portfolios

  • This paper reviews three non-returns-based (i.e., risk-based) alternative equity strategies: minimum variance, equal risk contribution and maximum diversification.

  • Leveraging Managed Volatility

  • Leverage for a managed volatility portfolio can come from two sources, a debt obligation or a short position in a higher-risk equity portfolio. These two degrees of freedom allow many combinations of risk and expected return.

  • Currency Considerations in Managed Volatility Portfolios

  • Portfolio managers must assess the impact of currency exposures when creating managed volatility portfolios from global stocks. In this paper we examine two important elements of these assessments: the impact of currencies on portfolio composition, and contribution of currency risk to portfolio risk.



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