Executive Education
In this month's interview, we speak to Frédéric Ducoulombier, Associate Professor of Finance at EDHEC Business School and Director of EDHEC Asset Management Education about the recent launch of EDHEC's PhD in Finance. Frédéric Ducoulombier currently serves as deputy to EDHEC Business School’s Director of Research and heads EDHEC Asset Management Education. Over the last ten years, he has held positions in programme design, management, and internationalisation, and has taught finance in France and China. He joined the EDHEC Risk and Asset Management Research Centre in late 2004 to launch its executive education operation which now serves hundreds of organisations throughout Europe. More...
22/04/08
Market Liquidity
In this month's interview, we speak to François-Serge Lhabitant, Associate Professor of Finance at EDHEC Business School and Chief Investment Officer with Kedge Capital, about his new book, "Stock Market Liquidity: Implications for Market Microstructure and Asset Pricing." François-Serge Lhabitant is Associate Professor of Finance at EDHEC Business School and Chief Investment Officer with Kedge Capital. He was formerly a Member of Senior Management at Union Bancaire Privée, where he was in charge of quantitative risk management and subsequently, of the quantitative research for alternative portfolios. Prior to this, Francois-Serge was a Director at UBS/Global Asset Management, in charge of building quantitative models for portfolio management and hedge funds. More...
11/03/08
Alternative Investments
In this month's interview, we speak to Jim Dilworth, head of Morgan Stanley Investment Management Europe, Middle East and Africa (EMEA), about the MSIM EDHEC research chair in financial engineering and global alternative portfolios for institutional investors and the current and future challenges for MSIM's business. Jim Dilworth is the head of MSIM Europe, Middle East and Africa (EMEA). He joined Morgan Stanley in 2007 and has 27 years of industry experience. Prior to joining the firm, Jim was head of Goldman Sachs Asset Management and Private Wealth Management in Germany, where he also established and led GSAM’s pensions advisory group. More...
14/02/08
Alternative Investments
In this month's interview, we speak to US SEC Commissioner Paul S. Atkins, who was a keynote speaker at EDHEC's recent Hedge Fund Roundtable of Global Thought Leaders presented in partnership with CNBC Europe and the International Herald Tribune as part of the EDHEC Alternative Investment Days. Having spoken at the roundtable on the subject of regulation risk and whether regulators' attempts to protect investors were increasing moral hazard and adverse selection, Commissioner Atkins here addresses issues ranging from the implications of the growth of the hedge fund industry to shareholder activism and the subprime crisis. More...
14/01/08
Asset Management Education
In this month's interview, to coincide with the launch of the inaugural Advances in Asset Allocation seminar which is being organised jointly by EDHEC and CFA Institute and will be held in London next March, we speak to Jeffrey Diermeier, President and Chief Executive Officer of CFA Institute. CFA Institute is the global, professional association that administers the Chartered Financial Analyst (CFA) and Certificate in Investment Performance Measurement (CIPM) curriculum and exam programs worldwide, publishes the Financial Analysts Journal, conducts professional development programs, and, through its CFA Institute Centre for Financial Market Integrity, sets voluntary, ethics-based professional and performance-reporting standards for the investment industry. More...
17/12/07
Institutional Investment
In this month's interview, on the occasion of the launch of the AXA Investment Managers/EDHEC research chair in regulation and institutional investment, we discuss the current and future environment for institutional investment in Europe with Nathalie Boullefort-Fulconis. Nathalie Boullefort-Fulconis joined AXA Investment Managers in January 2003 as Global Head of Institutional Business and as a Member of the Executive Committee. She was appointed Global Head of Sales, Marketing & Client Service in July 2005 and Global Head of AXA IM Distribution in July 2007. More...
16/11/07
Institutional Investment
In this month's interview, we discuss the links between research and business and BNP Paribas Investment Partners' strategy with Gilles Glicenstein, Chairman of BNP Paribas Asset Management and Head of BNP Paribas Investment Partners. Gilles Glicenstein has been Chairman of BNP Paribas Asset Management (BNPP AM) since June 2005. Earlier, he had been Chief Executive Officer of the firm. From 1996 to 1999, he acted as Executive Vice-President of BNP Gestions (the asset management arm of BNP). He joined BNP Group in 1994 as Director of Strategy & Development and Executive Board Secretary from after having spent four years as a financial inspector and a treasury official at the French Ministry of Finance. More...
17/10/07
Risk Management
In this month's interview, we discuss credit risk, credit modelling and the initial risk management lessons to be learned from the subprime crisis with Dominic O'Kane, affiliated professor with EDHEC Business School. Dominic O'Kane was previously a Managing Director at Lehman Brothers where he headed the Fixed Income Quantitative Research team, covering the pricing and risk models used across credit, interest rates, FX and commodity derivatives. He was at Lehman for over 7 years. Previously he spent 3 years at Salomon Brothers. He has a doctorate in theoretical physics from the University of Oxford. More...
17/09/07
Institutional Investment
Samuel Sender, research associate with the EDHEC Risk and Asset Management Research Centre and ALM expert and senior insurance consultant with Finalyse, is the co-author of a major study drawn up by EDHEC entitled "The Impact of IFRS and Solvency II on Asset-Liability Management and Asset Management in Insurance Companies." He also co-wrote, with Philippe Foulquier, director of the EDHEC Financial Analysis and Accounting Research Centre, three position papers in response to the consultations and quantitative impact studies carried out by CEIOPS (the Committee of European Insurance and Occupational Pensions Supervisors) in order to prepare the Solvency II directive: "QIS 2: Modelling that is at odds with the prudential objectives of Solvency II"; "CP20: Significant improvements in the Solvency II framework but grave incoherencies remain"; and "QIS3: meaningful progress towards the implementation of Solvency II, but ground remains to be covered." More...
20/07/07
Alternative Investments
In this month's interview we speak to Mark Anson, Chief Executive Officer of Hermes and a member of the EDHEC Risk and Asset Management Research Centre's International Advisory Board, about his latest book, "Handbook of Alternative Assets," the role of corporate governance in operating performance, and the contribution of hedge funds to the equilibrium of the financial markets. Mark Anson is a qualified Attorney, Certified Public Accountant, Chartered Financial Analyst, and Chartered Alternative Investment Analyst, as well as author of five books and over 80 journal articles. More...
23/05/07
Financial Analysis and Accounting
In this month's interview we speak to Jean-François Lepetit, Associate Professor at EDHEC, Chairman of the EDHEC Risk and Asset Management Research Centre's International Advisory Board and recently appointed chairman of the CNC (Conseil National de la Comptabilité or National Accounting Council) about the IFRS standards, the role of research in financial analysis and accounting and his strategic goals for the future accounting framework in France. More...
20/05/07
Alternative Investments
In this month's interview we speak to François-Serge Lhabitant, Associate Professor of Finance at EDHEC Business School and Chief Investment Officer at Kedge Capital, about his new book, Handbook of Hedge Funds, his upcoming Advanced Hedge Fund Investing seminar with Professor Lionel Martellini in London, and current issues in the hedge fund industry and in academic research. Professor Lhabitant's research has been published in leading academic and practitioner journals and featured in major European and global business dailies. He is also a celebrated author of global bestsellers on alternative investments. Professor Lhabitant teaches alternative investments within EDHEC Business School’s MiM and MSc programmes. More...
12/04/07
Wealth Management
In this month's interview we speak to Yves Bonzon, Group Managing Investor and Chief Investment Officer with Pictet & Cie about EDHEC's recent study on applying an asset-liability management approach to wealth management, the modelling of clients' constraints and “liabilities”, the changing nature of the private banking business and his reservations about TIPS as an asset class. Mr Bonzon is currently Chairman of the Private Banking investment committee and manager of several key accounts for Pictet & Cie. More...
17/03/07
Alternative Investments
In this month's interview we speak to Hilary Till, Principal of Premia Capital Management, LLC, and a Research Associate with the EDHEC Risk and Asset Management Research Centre, about her research projects, the lessons to be drawn from the Amaranth case nearly six months later and current investor interest in commodities.
Hilary Till is an internationally acknowledged expert in the field of commodities trading and natural resources futures markets. Formerly equity derivatives analyst and commodity futures trader with Harvard Management Company, and then senior vice president and head of the Derivative Strategies Group with Putnam Investments in Boston, Ms. Till has a B.A. in Statistics from the University of Chicago and an M.Sc. in Statistics from the London School of Economics. She studied at the LSE under a private fellowship administered by the Fulbright Commission.
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16/02/07
Exchange-Traded Funds
In this month's interview we speak to Lindsay Tomlinson, Vice-Chairman of Barclays Global Investors, Europe, and a member of the EDHEC Risk and Asset Management Research Centre's international advisory board, about the EDHEC European ETF Survey 2006, Barclay Global Investors' positioning and strategic focus within the European fund management industry, the partnership between Barclays Global Investors and EDHEC and the future for exchange-traded funds.
Lindsay is a Cambridge University mathematics graduate and has a post graduate qualification in mathematical statistics. He is currently a member of the Financial Reporting Council, and of the NAPF Investment Council. Additionally, Lindsay is Chairman of the Code Committee of the Takeover Panel, and of the Actuaries' Professional Affairs Board. More...
18/01/07
Institutional Investment
Following the launch in Paris at the EDHEC Institutional Days of a major new study co-produced by the EDHEC Risk and Asset Management Research Centre and the EDHEC Financial Analysis and Accounting Research Centre, entitled "The Impact of IFRS and Solvency II on Asset-Liability Management and Asset Management in Insurance Companies", we spoke to Dominique Carrel-Billiard, CEO of AXA Investment Managers, who sponsored the report, about his views on the issues addressed in the study and AXA IM's strategic plans for Europe. More...
08/12/06
08/11/06
Indices
Jean-Pierre Grimaud is Chief Investment Officer of SwissLife France and Vice-Chairman of the French association of institutional investors (Af2i). In this interview he talks about the recent EDHEC study commissioned by Af2i: 'Assessing the Quality of Stock Market Indices: Requirements for Asset Allocation and Performance Measurement.' More...
16/10/06
Risk
Bruno Dupire headed the Derivatives Research teams at Société Générale, Paribas Capital Markets and Nikko Financial Products before joining Bloomberg in New York to develop pricing, risk management and arbitrage models. He is best known for having pioneered the widely used Local Volatility model (simplest extension of the Black-Scholes-Merton model to fit all option prices) in 1993 and subsequent stochastic volatility extensions. More...
03/08/06
EDHEC-Risk
With a productive academic year in terms of publications and other initiatives coming to an end at the EDHEC Risk and Asset Management Research Centre, we discussed the centre’s activities and strategy for the future with Noël Amenc, PhD, Professor of Finance, Director of Research at EDHEC Business School, and Director of the Edhec Risk and Asset Management Research Centre.
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28/07/06
Advisory Board
Following the second annual meeting of the EDHEC Risk and Asset Management Research Centre's International Advisory Board in Beaulieu-sur-Mer on the French Riviera on May 12th, 2006, the seven new members give the reasons behind their decision to join the board in this month's interview. More...
21/06/06
Alternative Investments
François-Serge Lhabitant, PhD, is Head of Research at Kedge Capital and an associate professor of finance at EDHEC Business School. He also sits on the EDHEC Risk and Asset Management Research Centre’s International Advisory Board. In this interview, he discusses the benefits of hedge funds for institutional investors and the latest alternative investment techniques. He also talks about the Lhabitant Martellini Advanced Hedge Fund Investing seminar, which will be held at the Savoy in London on June 22-23. More...
17/05/06
Derivatives
Laurence O’Connell, Director of Strategic Development with Man Financial and former COO of Man Investments, sits on the EDHEC Risk and Asset Management Research Centre’s International Advisory Board. In this interview, he discusses Man Financial’s future strategy, the challenges that the company is likely to face, and the Man Group’s partnership with EDHEC-Risk Advisory and the EDHEC Risk and Asset Management Research Centre. More...
11/04/06
Alternative Investments
In this month's interview, Frédéric Ducoulombier, Director of EDHEC AI Education talks to us about the need for educational standards in the alternative investment space, the growth of the Chartered Alternative Investment AnalystSM programme, and the new Lhabitant and Martellini Advanced Hedge Fund Investing seminar. More...
17/03/06
Alternative Investments
In this month's interview, Xavier Lépine, chairman of Alteram, talks to us about the recent launch of the Alteram Optimal Equity fund, the disappointing performance of hedge funds in recent years, the sources of hedge fund returns and the idea of combining hedge funds with private equity and real estate in the alternative arena. More...
20/02/06
Risk
In this month's interview, Jean-René Giraud, CEO of Edhec-Risk Advisory, the consulting arm of the Edhec Risk and Asset Management Research Centre, talks to us about the relative importance of financial and operational risks when it comes to hedge fund failures, the role that managed accounts and other means of investing in hedge funds can play in mitigating operational risks, the obstacles to successful due diligence and also about Edhec-Risk Advisory's recent activities and plans for 2006. More...
18/01/06
Alternative Investments
In this month's interview, Professor Lionel Martellini, PhD, the scientific director of the EDHEC Risk and Asset Management Research Centre, discusses a recent research paper entitled 'Investing in Hedge Funds: Adding Value through Active Style Allocation Decisions' and all of the centre's research programmes in the area of hedge funds. More...
15/12/05
Performance
Following the recent launch of the EuroPerformance-Edhec Alpha League Table, the first asset management firm rankings in Europe that are based on an accurate measure of alpha, Frédéric Picard, Managing Director of EuroPerformance, discusses the role of alpha in financial markets and rating agencies’ methods for classifying and ranking fund managers. More...
16/11/05
Alternative Investments
In this month’s interview, Patrick Fenal, Chief Executive Officer of Unigestion in Geneva, discusses Unigestion’s support for the Edhec Risk and Asset Management Research Centre’s activities, the links between research and business in the asset management industry, the minimum variance concept in investment management and the complementarities between private equity and hedge funds. More...
18/10/05
Financial Standards
Philippe Foulquier, a top-rated financial analyst specialising in the insurance sector and associate professor at Edhec Business School, talks to us about the likely impact of IFRS and Solvency II on the financial management of insurance companies, and about his current research projects. More...
13/09/05
Alternative Investments
In recent weeks, we have seen the launch of the Edhec Hedge Fund Diversifier Benchmarks in partnership with Lyxor AM, and the release of an Edhec research paper on structured products sponsored by SG CIB, entitled “Structured Forms of Investment Strategies in Institutional Investors’ Portfolios”. In this interview, Christophe Mianné, global head of equity derivatives at SG Corporate and Investment Banking, discusses the nature of the partnership between SG CIB/Lyxor and Edhec and his views on the future evolution of alternative investments and derivative products. More...
13/07/05
Operational Risk
Stéphane Daul, PhD, who heads the quantitative risk management methods team at EIM, has recently joined the Edhec Risk and Asset Management Research Centre as a research associate. In this interview, he discusses the importance of cooperation between academics and practitioners in the area of hedge funds, the management of operational risks within funds of hedge funds, the key components of successful operational due diligence and the nature of his research with EDHEC. More...
16/06/05
Edhec-Risk
Launch of the EuroPerformance-Edhec Style Ratings, development of a consulting activity on the organisation and management of risks, partnership with the firm Lyxor AM to create the Edhec Investable Hedge Fund Indices, promotion of a consulting activity in asset allocation and the design of investment products. In the last two years, Edhec has engaged in multiple initiatives that are outside the traditional scope of academic research. In this interview, Noël Amenc, director of the Edhec Risk and Asset Management Research Centre, explains the reasons behind these unusual initiatives for a business school. More...
13/05/05
Alternative Investments
François-Serge Lhabitant, PhD, is Associate Professor of Finance at EDHEC Business School, Professor of Finance at the University of Lausanne, and a senior advisor to Kedge Capital Partners. He is also an internationally respected author of books on hedge funds, including Hedge Funds: Myths and Limits and Hedge Funds: Quantitative Insights. In this interview, he discusses the topic of hedge fund indices.
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06/04/05
Alternative Investments
SG AM is the Société Générale Group's asset management subsidiary which ranks among the top 20 players in the world. SGAM Alternative Investments is a SG AM subsidiary dedicated to third party management of alternative investments. In this interview, Arié Assayag, Director of Hedge Funds at Société Générale Asset Management (SG AM) talks about SG AM's volatility arbitrage strategy. More...
01/03/05
Alternative Investments
Vikas Agarwal is Assistant Professor of Finance at Georgia State University and Research Associate with the Edhec Risk and Asset Management Research Centre and has spent several years undertaking research on hedge funds. In this interview, Vikas explains his views on the hedge fund industry. More...
02/02/05
Performance
On 24th November, the EuroPerformance-Edhec Style Rating was successfully launched at a seminar that was held at the Etoile Saint-Honoré conference centre in Paris. In this interview, Frédéric Picard, Managing Director of EuroPerformance explains more about this joint initiative. More...
01/12/04
Alternative Investments
After launching consulting arms supporting institutional investors and asset managers earlier this year, the Edhec Risk and Asset Management Research Centre has now begun offering Executive Education under the Edhec Alternative Investment Education banner. An Interview with Frédéric Ducoulombier, Director of Edhec Alternative Investment Education. More...
08/11/04
Asset Allocation
Last March, within the context of a study dedicated to the use of EuroMTS trackers in institutional investment, the Edhec Risk and Asset Management Research Centre began to advocate the core-satellite approach to investment management, by predicting that it would revolutionise asset management, not only in France but also in Europe. In this interview, Noël Amenc explains the advantages of this approach.
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19/10/04
Alternative Investments
The Olympia Group of Companies is a new partner of the EDHEC Risk and Asset Management Centre and is the sponsor of the first EDHEC OLYMPIA Alternative Investment Summer Camp, a €150,000 initiative aimed at helping young talents from Europe and Africa discover one of the most dynamic sectors of the asset management industry. More...
01/10/04
Alternative Investments
François-Serge Lhabitant has joined Edhec as an Associate Professor, responsible for the alternative investment classes set up as part of the finance major on the Nice campus. He actively participates in the work of the Edhec Risk and Asset Management Research Centre and has just written a new book, "Hedge Funds: Quantitative Insights". More...
07/06/04
Business Analysis
Jean-François Lepetit has joined Edhec as an Associate Professor to teach classes on the campuses in Lille and Nice. In addition to his teaching duties, he will also participate in the research work of the Edhec Risk and Asset Management Research Centre and will chair its international orientation committee. More...
02/05/04
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