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Commodities
Hilary Till, Principal at Premia Capital Management, LLC and Research Associate at EDHEC-Risk Institute, moderated the Global Commodities Applied Research Digest Editorial Advisory Board Panel on Chinese Commodity Demand at the New Directions in Commodities Research symposium on 10-11 August, 2017 in Denver. More...
12/09/17

Retirement Investing
The masterclass will focus on the technicalities of specific products for retired and senior citizens and will develop a marketing and strategic approach to senior finance and lending. It will also provide participants with an introduction to the modern financial engineering and risk management techniques which will allow a new breed of investment managers to design and implement innovative forms of welfare-improving retirement investment solutions for their clients. More...
22/06/17

Education
This result underscores EDHEC’s international excellence in finance. After gaining 7 places in 3 years, EDHEC is now ranked as the top business school for finance worldwide by the Financial Times. This ranking vindicates the high-impact strategy initiated several years ago by the School and which has entailed a disruptive policy in the international research field, executed in close proximity to businesses. Since the creation of the EDHEC-Risk Institute in 2001, the School has become an academic reference within the financial industry. More...
21/06/17

15/06/17

FinTech
The Wealth Management Systems for Individual Investors Conference, which took place on April 26 on Princeton campus, was a great success with over 120 people in attendance from the US, Europe, South Africa & Australasia. This inaugural conference is the first-ever joint collaboration between EDHEC-Risk Institute, KAIST (Korea), Princeton (USA), and Tsinghua (China) Universities. More...
30/05/17

Executive Education
The renowned Advances in Asset Allocation Seminar is an intensive three-day course that will provide participants with an in-depth appreciation of the concepts and techniques that will shape the future of investment management. Cutting-edge concepts will be discussed and illustrated using Excel spreadsheets that delegates can take away. This exclusive event, presented in a highly accessible manner, will take place in London on May 15-17, 2017. The course will be led by Professor Lionel Martellini, a seasoned instructor who combines academic expertise and industry experience. More...
23/03/17

Indexes and Benchmarking
Riccardo Rebonato, Professor of Finance, EDHEC Business School and Member, EDHEC-Risk Institute, will be speaking on the theme of fixed-income smart beta at L’AGEFI Day: Indexing, ETF & Smart Beta Summit in London on 8 June, 2017. More...
08/03/17

Appointments
We are honoured to announce that Lionel Martellini, Professor of Finance at EDHEC Business School and Director of EDHEC-Risk Institute, has been invited to join industry stakeholders of the Consultative Working Group (CWG) which advises the European Securities and Markets Authority's (ESMA's) Financial Innovation Standing Committee (FISC), alongside twenty-four fellow members. More...
08/03/17

Indexes and Benchmarking
Felix Goltz, Head of Applied Research, EDHEC-Risk Institute, will be speaking on the theme of ETF and smart beta at L’AGEFI Day: Indexing, ETF & Smart Beta Summit in London on 8 June, 2017 and will unveil the results of the EDHEC-Risk European ETF & Smart Beta Survey 2016. More...
08/03/17

Executive Education
Since the recent crisis, investment managers and institutional investors are showing unprecedented interest in innovative forms of investment solutions. It is the moment to invest in implementing academic research in your business with the Yale SOM-EDHEC-Risk Institute Certificate in Risk and Investment Management, designed by two world-class thought leaders and offered both in London and New Haven. More...
07/12/16

Appointments
EDHEC-Risk Institute is pleased to announce the appointment of Mark Fawcett as chairman of its international advisory board. He is Chief Investment Officer of NEST Corporation, the trustee body responsible for running NEST, the National Employment Savings Trust. NEST was set up specifically to support changes that meant UK employers now have to automatically enrol their workers into a workplace pension scheme. Since its creation in 2011 NEST has become one of the largest master trusts in the UK and currently has over 200,000 employers signed up, 3.7 million members and over £1.2 billion assets under management. More...
28/11/16

Indexes & Benchmarking
Frédéric Ducoulombier, Founding Director of EDHEC Risk Institute-Asia, has been invited to speak on the theme "The future of smart beta in Asia" at The Asset 2nd ETF Asia Summit in Taiwan on 15 June, 2016. The summit brings together investors, asset managers and product providers to discuss and debate the factors driving the development of the ETF market in Asia. More...
20/10/16

Executive Education
The renowned Advances in Asset Allocation seminar, to be conducted by Professor Lionel Martellini on November 22-24, 2016 in London, is an intensive three-day course that will provide participants with an in-depth appreciation of the concepts and techniques that will shape the future of investment management. The seminar will discuss practical tools to improve asset allocation and risk management processes, implement novel investment management approaches, and develop new products and solutions. More...
26/09/16

Indexes & Benchmarking
The inaugural EDHEC-Risk Smart Beta Day Europe 2016 will take place on October 13, 2016 at the Intercontinental Amstel in Amsterdam and will present the research carried out by EDHEC-Risk Institute and discusses it with the institutional investor and financial advisory communities. The event is structured to appeal to asset owners and their direct investment consultants and financial advisors. The one-day conference will include multiple plenary sessions allowing professionals to review major industry challenges, explore state-of-the-art investment techniques and benchmark practices to advances in research. More...
21/09/16

Commodities
Hilary Till, Principal at Premia Capital Management, LLC and Research Associate at EDHEC-Risk Institute, has been invited to participate in the US Energy Information Administration workshop on Financial and Physical Oil Market Linkages in Washington on 28 September, 2016. More...
14/09/16

Commodities
Hilary Till, Principal at Premia Capital Management, LLC and Research Associate at EDHEC-Risk Institute, has published new research on Commodity Risk Management in the latest issue of the Journal of Governance and Regulation in which she discusses the practical issues involved in applying a disciplined risk management methodology to commodity futures trading. More...
04/08/16

Academic Research
Carlos Heitor Campani, Research Associate at EDHEC-Risk Institute and Professor of Finance at COPPEAD Graduate School of Business, has recently published new research on "Valor-Coppead Indices, Equally Weighed and Minimum Variance Portfolios" in the Brazilian Review of Finance, with further research on "Stock Fund Selection and the Individual Investor" forthcoming in another prestigious business journal in the country, the "Revista de Administração Contemporânea". More...
27/07/16

Commodities
Hilary Till, Principal at Premia Capital Management, LLC and Research Associate at EDHEC-Risk Institute, will be speaking at an event to be held in New York on 30 June, 2016 on the theme "A Global View of Commodity Markets", organised by the New York Society of Security Analysts where she will discuss the factors that explain recent and expected movements in the oil markets with Jonathan Goldberg, an oil trader and founder of BBL Commodities, L.P. More...
22/06/16

Call for Papers
The Journal Of Investment Management (JOIM) is a high quality, fully refereed publication, which bridges the theory and practice of investment management. EDHEC-Risk Institute is partnering with JOIM to feature the most relevant academic insights with an immediate as well as a future impact on the practice of Retirement Investing. The Journal Of Investment Management (JOIM) is currently accepting manuscript submissions in the area of investment management and related fields. Asset allocation, optimisation, retirement investing, behavioural finance and liquidity are of particular interest. More...
09/06/16

Institutional Investment
In a recent exclusive video interview, Lionel Martellini tells us why retirement investing is such an important issue, he details the shortcomings of available retirement products, goes on to explain why the biggest challenge in retirement investing is a combination of engineering, R&D, production and distribution, and finally he gives us his view on the educational aspect of the problem and how EDHEC-Risk Institute is going to be involved in addressing this challenge. More...
09/06/16

Commodities
Hilary Till, Principal at Premia Capital Management, LLC and Research Associate at EDHEC-Risk Institute, participated in the CME Group's Investor Forum on 1 June, 2016 in New York aimed at institutional investors, the theme of which was "A Case for Commodities". At the event, Ms. Till participated in the panel discussion alongside other notable industry participants, where she discussed oil contango and implications for inventories and spot market dynamics. More...
03/06/16

Indexes & Benchmarking
Frédéric Ducoulombier, Founding Director, EDHEC Risk Institute-Asia, has been invited to speak on the theme of factor investing through ETFs at The Asset 2nd ETF Asia Summit in Taiwan on 15 June, 2016. The summit brings together investors, asset managers and product providers to discuss and debate the factors likely to drive the development of the ETF market in Asia. More...
31/05/16

Portfolio Management
Riccardo Rebonato, professor of finance at EDHEC Business School and member of EDHEC-Risk Institute, will be holding two seminars in June organised by the Swiss Finance Institute in Zurich entitled, "Portfolio and Risk Management Under Stress" and "Bayesian Nets for Stress Testing and Portfolio Management". More...
31/05/16

Appointments
EDHEC-Risk Institute is very delighted to announce that Professor Riccardo Rebonato, a specialist in interest rate risk modelling with applications to bond portfolio management and fixed-income derivatives pricing, has joined EDHEC-Risk Institute on May 2, 2016. He also joined the EDHEC Faculty. Professor Rebonato was previously Global Head of Rates and FX Research at PIMCO. More...
17/05/16

Commodities
Hilary Till, Principal at Premia Capital Management, LLC and Research Associate at EDHEC-Risk Institute, was invited to speak at the recent IEF-Bank of Canada Roundtable on "Commodity Cycles and Their Implications," which was held at the Bank of Canada in Ottawa on April 25th, 2016. More...
10/05/16

Executive Education
Investment portfolios are based on the idea that risk must be taken in order to increase expected returns. However, there are intelligent ways to take risk. Participants will learn about how to use current models and empirical evidence about global capital markets to construct asset portfolios based on the principles of factor investing, with a particular focus on equity and bond markets. More...
22/03/16

Asset Management
A great success for EDHEC-Risk Days 2016 with over 700 professionals in attendance from the investment and risk management industry. The conference included three major events allowing investment professionals to review major industry challenges, explore state-of-the-art investment techniques and benchmark practices to research advances. More...
22/03/16

Commodities
Hilary Till, Principal at Premia Capital Management, LLC and Research Associate at EDHEC-Risk Institute, has been invited to speak at an event on the theme “CTA’s and Commodity Indices: A Fresh Perspective” organised by the Chicago branch of The Professional Risk Managers’ International Association (PRMIA) on Thursday 19 May, 2016. More...
10/03/16

Financial statistical tools
Lionel Martellini, Director of EDHEC-Risk Institute and Professor of Finance at EDHEC Business School, is co-signatory of an article due to appear in the prestigious scientific journal, Physical Review Letters, reviewing the outcome of a major discovery made by an international collaboration involving 19 research laboratories around the world. The paper, entitled “Observation of Gravitational Waves from a Binary Black Hole Merger”, relates the detection on 14 September, 2015 of a gravitational wave emanating from a binary black hole merger that took place 1.3 billion light years away in a distant galaxy. It represents the first-ever detection of a gravitational wave and the first ever detection of a signal originating from a black hole. More...
29/02/16

Awards
A Journal of Derivatives article entitled, "Robust Risk Estimation and Hedging: A Reverse Stress Testing Approach" by Barry Schachter, Research Associate at EDHEC-Risk Institute and Senior Advisor at RiXtrema, Inc. and Yaacov Kopeliovich, also Research Associate at EDHEC-Risk Institute and Senior Advisor at RiXtrema, Inc., together with co-authors Arcady Novosyolov and Daniel Satchkov, have been named the winners of the 2015 Peter L. Bernstein Award honouring extraordinary and compelling research for "Best Paper in an Institutional Investor Journal" among eleven journals in the past twelve months. More...
05/01/16

Executive Education
The first seminar offered as part of this joint initiative is an in-depth discussion of advanced methods for performing asset allocation decisions with a particular emphasis on the design of investment solutions that should help investors achieve their long-term objectives. It will also equip participants with practical tools to improve asset allocation and risk management decision processes and to implement novel investment management approaches. The Asset Allocation and Investment Solutions Seminar will be held in London on 26-27 January, 2016, and in New Haven on 3-4 February, 2016. More...
14/12/15

Awards
On 26 October, 2015 on the occasion of the CFA Institute Research Foundation’s 50th Anniversary Forum on the theme of "The Future of Investment Research" in New York, Frank J. Fabozzi was presented with the 2015 James R. Vertin Award for his lifetime contribution to investment research, the highest honour bestowed by the CFA Institute Research Foundation. More...
30/11/15

Indexes and Benchmarking
A new book entitled "Risk-Based and Factor Investing" has just been published by Elsevier, containing a compilation of recent articles written by leading academics and practitioners in this field. Romain Deguest and Lionel Martellini from EDHEC-Risk Institute, together with Noël Amenc, Felix Goltz, Ashish Lodh and Eric Shirbini from ERI Scientific Beta contributed a chapter to the book on the subject of "Designing Multi-Factor Equity Portfolios". More...
25/11/15

Alternative Investments
Hilary Till, Principal at Premia Capital Management, LLC and Research Associate at EDHEC-Risk Institute, was invited to make the opening remarks, alongside Roy B. Norton, Consul General, Consulate of Canada in Chicago, and Dr. Ranjan Bhaduri, Chief Research Officer, Sigma Analysis & Management, at an event organised by the Canadian consulate in Chicago on 21 October, 2015 to celebrate the Canadian hedge fund industry with prominent investors and allocators. More...
04/11/15

Commodities
Joelle Miffre, Professor of Finance at EDHEC Business School, and member of EDHEC-Risk Institute will be organising a session on "Commodity Markets: Pricing and Trading" at the 9th International Conference on Computational and Financial Econometrics to be held on 12-14 December, 2015 at the University of London. More...
04/11/15

Asset Management
The EDHEC-Risk Days conference 2016 will take place on March 15-16, 2016 at The Brewery in London and will present the results of EDHEC-Risk research on themes of great interest to the institutional investment and fund manager communities. The 2016 conference is a two-day which includes three major events that will allow professionals to review major industry challenges, explore state-of-the-art investment techniques and benchmark practices to research advances. More...
21/10/15

Global Finance
Hilary Till, Principal at Premia Capital Management, LLC and Research Associate at EDHEC-Risk Institute, participated in the 2015 New York Finance Forum on 27 September, 2015 at Columbia University. This year’s theme was "Openness and Innovation: Financial Investment in the World under Reconstruction", with the forum bringing together some of the most influential economists, financers, investors and entrepreneurs from the United States and China to initiate groundbreaking discussions on global economic and financial performance and expectations. More...
28/09/15

Executive Education
The focus of this series of joint executive education seminars, around the unifying theme “Advanced Risk and Investment Management", is on utilising the latest academic insights to help investment professionals better understand and implement advanced investment approaches and methodologies. The seminars provide relevant academic insights with respect to some of the most important dimensions of the investment process, including implementing disciplined risk and asset allocation decisions, efficiently harvesting factor risk premia across and within traditional and alternative asset classes, and designing truly meaningful forms of liability driven or goal-based investment solutions. More...
22/09/15

Infrastructure Investment
The third annual OECD-Euromoney Conference on long-term investment financing will focus on issues affecting long-term investment, including asset allocation concepts, regulation, governance, energy and natural resources, and brownfield and greenfield infrastructure, and will bring together senior executives representing the world’s largest institutional investors (pension funds, sovereign wealth funds and insurers), senior policy makers and regulators. On Thursday 19 November, 2015, Dr. Frédéric Blanc-Brude, Research Director at EDHEC Risk Institute–Asia, Singapore, will be participating as a panelist in the session on "Infrastructure Investment: Moving from Niche Investment to Mainstream". More...
21/09/15

Infrastructure Investment
The meeting will gather together senior figures from the investment world, addressing the key priorities of promoting private long-term investment in infrastructure, building a risk-adjusted benchmark to foster financial stability, and promoting responsible investment with a focus on environmental, social and governance considerations. More...
14/09/15

Commodities
Hilary Till, Principal at Premia Capital Management, LLC and Research Associate at EDHEC-Risk Institute, has been invited to join the US Energy Information Administration workshop on the "Evolution of Petroleum Market and Price Dynamics" as a panel member in Washington on 29 September, 2015. More...
11/09/15

Institutional Investment
Frédéric Ducoulombier, Director, EDHEC Risk Institute – Asia, will be speaking on the topic "From Smart Beta to smart allocation: New approaches to defensive equity investing for insurers" at the 4th Asia Investment Management Summit for Insurance to be held in Hong Kong on 26-27 November, 2015. More...
03/09/15

Indexes & Benchmarking
The EDHEC-Risk Smart Beta Day, organised by EDHEC-Risk Institute in partnership with Scientific Beta, will take place in New York on 15 December, 2015 and will showcase the latest conceptual advances and research results in smart beta investing. More...
01/09/15

Infrastructure Investment
On June 10, 2015, Frédéric Blanc-Brude, Research Director at EDHEC Risk Institute—Asia, presented the results of three years of academic research on asset pricing and risk measurement in privately held infrastructure investments at the International Centre for Pension Management Discussion Forum on the theme of "Long-Horizon Investing" held in Toronto. More...
30/06/15

Asset Management Education
Finance professionals participating in the EDHEC PhD in Finance programme will have access to a choice of electives in 2015/2016, during which some of the world’s leading specialists will present their latest research advances in specific fields including portfolio and asset allocation, asset management, yield curve, volatility modelling. The 2015/2016 elective courses form a balanced portfolio of seminars presenting conceptual advances and state-of-the-art quantitative methods. The seminar on portfolio allocation is devoted to the econometric issues that arise in implementing portfolio choice problems; PhD candidates will be introduced to advanced topics in predictive modelling as it applies to financial time series and to modern asset allocation theories focusing on recent developments. More...
25/06/15

Exchange-Traded Funds
Frédéric Ducoulombier, Founding Director, EDHEC Risk Institute - Asia, will be participating as a panellist in the session entitled "In focus: The smart beta debate" at The Asset ETF Asia Summit 2015, a one-day strategic event which aims to bring together policymakers and leaders in the ETF market in a full-day, high-level discussion of the key issues, challenges and opportunities in the Asian ETF market. More...
16/06/15

Awards
Sivagaminathan Sivasubramanian, Quantitative Research Analyst at EDHEC-Risk Institute, was awarded the research prize for the best research work on smart beta at the EDHEC Master graduation ceremony that was held on June 6, 2015 at EDHEC Business School’s campus in Lille for his thesis entitled, "Active Allocation of Smart Beta Indices based on Factor Timing and Regime Switching". More...
16/06/15

Asset Management Education
Since the beginning of the PhD in Finance programme in September 2008, twenty EDHEC PhD candidates have successfully defended their dissertations. Their research work brings new insights on subjects such as strategic and tactical asset allocation, inflation modelling and hedging, asset pricing, corporate financial policy, pension fund management, and household investment. These graduates include three women and represent fifteen countries on three continents. The group includes five participants working in academe who had enrolled in the PhD in Finance programme to strengthen their academic credentials for careers within research and educational institutions and fifteen participants who work in the investment management industry or in central banking. More...
13/04/15

Institutional Investment
Following the success of the second edition of the EDHEC-PRINCETON "Academia meets Practice" Conference, which attracted more than 150 finance professionals in 2013, EDHEC-Risk Institute and Princeton University will be organising the 2015 edition of the conference at The Princeton Club of New York on 23 April, 2015. This one-day conference represents the third time our institutions have joined forces to present our academic research results in finance and the usefulness of our conclusions for the industry to professionals. More...
01/04/15

Awards
Frank J. Fabozzi, Professor of Finance at EDHEC Business School and a member of the EDHEC-Risk Institute, has been awarded the James R. Vertin Award by the CFA Institute Research Foundation, a not-for-profit organization that sponsors independent research for investors and investment professionals around the world. He was recognized for producing a relevant and valuable body of research that has contributed to the investment profession. More...
27/02/15

Asset Management Education
As part of the EDHEC-Risk Days Europe conference, the PhD Forum is an opportunity to showcase the industry-oriented research conducted by participants in the EDHEC PhD in Finance programme. The EDHEC PhD in Finance is designed for professionals whose aim is to gain and maintain an in-depth understanding of finance, as well as the ability to initiate and carry through research projects that will yield original insights and lead to innovative approaches and offerings. More...
16/02/15

Risk Management
EDHEC-Risk Institute will be holding a special masterclass on risk allocation for policy and equity portfolios entitled "New Frontiers in Risk Allocation and Factor Investing" on April 22, 2015 at The Princeton Club in New York. More...
27/01/15

Asset Management Education
Thirteen executive participants have joined the October 2014 class of the EDHEC-Risk Institute PhD in Finance. They come from three continents and represent ten countries, have fourteen years of professional experience on average and work in wealth and asset management, corporate and investment banking, and for a financial supervisory authority. The practitioners who join the executive track of the programme typically embark on the PhD in Finance to take a step towards senior positions in finance or, when they already hold such positions, to steer their organisations in new directions. More...
15/12/14

Indexes & Benchmarking
The EDHEC-Risk Days conference 2015 will take place on March 24-25, 2015 at the Brewery in London and will present the results of EDHEC-Risk research on themes of great interest to the institutional investment and fund manager communities. The 2015 conference is a two-day event focusing on new frontiers in risk allocation and investment management that will allow investment professionals to review major industry challenges, explore state-of-the-art investment techniques and benchmark practices to research advances. More...
12/12/14

Executive Education
The highly successful executive seminar series organised by Yale School of Management and EDHEC-Risk Institute is set to continue in the first quarter of 2015. The seminar series, which allows participants to obtain the prestigious Certificate in Risk and Investment Management, will resume with the two-day Yale SOM-EDHEC-Risk Alternative Investments Seminar at the EDHEC-Risk Institute campus in London on February 24-25, 2015 and the Yale campus New Haven, Connecticut on March 3-4, 2015. More...
12/12/14

Wealth Management
EDHEC-Risk Institute will be holding a special masterclass on individual investor solutions entitled "Advanced Techniques for Wealth and Retail Investments" on March 23, 2015 at The Brewery in London. Like institutional investors, individual investors do not just need investment products with allegedly superior performance. They need investment solutions that help them meet their goals subject to a number of dollar and risk budget constraints. More...
12/12/14

Indexes & Benchmarking
As part of a partnership with Pensions & Investments, the leading publication for North American asset owners, EDHEC-Risk Institute is pleased to announce that a new EDHEC-Risk Institute and ERI Scientific Beta microsite is now available on the Pensions & Investments website, featuring ERI Scientific Beta's flagship multi smart factor indices, together with access to key publications on the subject of smart beta and supplements on industry-relevant research of the highest academic standards. More...
19/11/14

Infrastructure Investment
Dr. Frédéric Blanc-Brude, Research Director at EDHEC Risk Institute—Asia, will be the keynote speaker at the Institutional Investor Infrastructure Forum, organised in Toronto on 24 September, 2014 by Casgrain & Company Limited. The objective of the forum, aimed at Canadian fixed-income institutional investors, is to further expose institutional investors to the realities of project financing. At the event, Dr. Blanc-Brude will introduce EDHEC-Risk Institute's roadmap towards the creation of investment benchmarks for unlisted infrastructure assets, both debt and equity. More...
22/09/14

Appointments
Carlos-Heitor Campani, Research Associate at EDHEC-Risk Institute, and Professor of Finance at COPPEAD Graduate School of Business – Federal University of Rio de Janeiro, was appointed Chief Editor of the international journal Latin American Business Review in August 2014. The Latin American Business Review, published by Taylor & Francis, is a quarterly, refereed journal which facilitates the exchange of information and new ideas between academics, business practitioners, public policymakers, and those in the international development community. More...
02/09/14

Appointments
Daniel Giamouridis, Research Associate at EDHEC-Risk Institute and Associate Professor of Finance at Athens University of Economics and Business, was invited to join the Editorial Board of the Financial Analysts Journal as Associate Editor in May 2014. Dr. Giamouridis’ teaching and research interests include quantitative asset management and alternative investments and he has been working closely with international financial institutions in areas such as quantitative equity research, hedge fund replication, asset management, and derivatives valuation. More...
31/07/14

Portfolio Management
Nikolaos Tessaromatis, Professor of Finance at EDHEC Business School and Member of EDHEC-Risk Institute, recently participated in the 2014 European Financial Management Association Conference, organised in Rome on 25-26 June, 2014, where he presented his paper entitled, "Global Portfolio Management Under State Dependent Multiple Risk Premia", co-authored with Timotheos Angelidis. The paper assesses the benefits from international factor diversification under a regime-based portfolio construction framework that takes into account the dynamic changes in stock markets and shows that there are significant costs to investors who fail to pursue an international diversification strategy using sources of return other than the market premium and take into account the existence of regimes in portfolio construction and asset allocation. More...
29/07/14

Asset Management Education
With a view to increasing the learning and networking opportunities available to PhD in Finance programme students and alumni and to facilitating the participation of professionals who are unable to fully fund programme expenses out of their own resources, EDHEC-Risk Institute is introducing a lifelong learning option to its doctoral programme and expanding its financial assistance schemes. More...
01/07/14

Asset Management Education
Since 2004, the EDHEC-Risk Days have been giving finance practitioners access to some of the latest research advances in the fields of investment and risk management and allowed them to discuss the implications and applications of new concepts and results with the Institute’s research team. Since 2010, as part of the EDHEC-Risk Days, the PhD Forum has allowed students and graduates of the EDHEC-Risk Institute PhD in Finance programme to engage industry practitioners about their dissertation work. More...
01/07/14

Awards
The recipients of the prize were EDHEC students Sylvain Bourrat, an auditor with KPMG in Paris, and Guillaume Wolff, an investment banking analyst with Deutsche Bank in London, for Best Thesis on Economics and Finance in Paris on 5 June, 2014. The two 2013 graduates of the EDHEC Financial Economics track and final-year students on the MSc in Corporate Finance focused their thesis on a subject of ongoing debate, namely the impact of private equity funds on the performance of companies over which they exert a significant influence, entitled “Underpricing & Long‐Term Performance of Private‐Equity Backed IPOs compared to Non‐Private‐Equity Backed IPOs: A French perspective”. More...
19/06/14

Asset Management Education
Over the course of the last six months, six EDHEC-Risk Institute PhD candidates have successfully defended their dissertations. Their research work brings new insights on strategic and tactical asset allocation, inflation modelling and hedging, asset pricing, corporate financial policy, pension fund management, and systemic risk. These new graduates include two women and four men representing five countries on three continents (France, Germany, Italy, Singapore and the United States). The group includes five participants who belonged to the European chapter of the programme and the first graduate of its Asian chapter launched in 2011. More...
06/05/14

Executive Education
In the wake of the successes of the “Strategic Asset Allocation and Investment Solutions” and “Equity Investment” seminars – which drew over one hundred and fifty participants – EDHEC-Risk Institute and Yale School of Management have unveiled their third joint executive seminar. Looking at “Fixed Income Investment”, the new seminar will feature EDHEC-Risk PhD in Finance core faculty member Professor Frank Fabozzi, Chueng Kong Graduate School of Business Chair Professor of Finance Li Haitao and EDHEC Business School Affiliated Professor of Finance Dominic O’Kane. More...
16/04/14

Alternative Investments
The paper, co-authored with Professor Ronnie Sadka of Boston College, provides an assessment of the potential profits associated with trading based on inside information about hedge-fund investor flows. Focusing on share-restricted funds, it finds that funds with recent outflow underperform funds with recent inflow, especially for the group of funds with high personal investment of fund insiders and low corporate governance. More...
11/03/14

High Frequency Trading
Ekkehart Boehmer, Professor of Finance at EDHEC Business School and member of EDHEC-Risk Institute, was invited to make a keynote address on the subject of High Frequency Trading at the 26th Australasian Finance & Banking Conference held in Sydney on 17-19 December last. The conference, organised by the Institute of Global Finance and School of Banking & Finance at the Australian School of Business, UNSW, is the most prestigious finance conference in the Asia-Pacific region. More...
29/01/14

Asset Management Education
Finance professionals participating in the EDHEC-Risk Institute PhD in Finance programme will have access to a wide choice of electives in 2014, during which some of the world’s leading specialists will present their latest research advances in specific fields including the design and calibration of advanced continuous-time models of asset prices and volatility, the link between asset prices and macroeconomics and long-term risks, dynamic risk and asset allocation and the design of modern investment solutions, and the use of high-frequency and big data, to name just a few. More...
09/01/14

Executive Education
In 2008, CFA Institute and EDHEC-Risk Institute partnered to offer advanced executive education programmes to senior investment industry professionals and introduced what remains their flagship programme, the three-day “Advances in Asset Allocation” seminar. Since then, the seminar has trained close to six hundred senior executives and investment officers in the concepts and techniques needed to optimise asset allocation and risk management via diversification, hedging, and insurance. More...
08/01/14

Appointments
EDHEC-Risk Institute is pleased to announce that five new members have joined its international advisory board, which brings together distinguished scholars, representatives of regulatory bodies as well as senior executives from business partners and other leading institutions. The five new members are Mr Carl S. Bang, Chief Investment Officer, Qatar Foundation Endowment (QFE); Mr James Barber, Chief Investment Officer of Equities, Russell Investments; Mr Laurent Degabriel, Head of Investment and Reporting Division, European Securities and Markets Authority (ESMA); Ms Jacqueline Loh, Deputy Managing Director, Monetary Authority of Singapore (MAS); Mr Adriaan Ryder, Chief Investment Officer, QIC. More...
19/11/13

Academic Research
In this Practical Applications report, authored by Joanna Wrighton of Institutional Investor Journals, Noël Amenc, Professor of Finance at EDHEC Business School and Director of EDHEC-Risk Institute, outlines the two-step approach explored in "Choose Your Betas: Benchmarking Alternative Equity Index Strategies", which was published in the Fall 2012 issue of The Journal of Portfolio Management. More...
12/11/13

Asset Management Education
To support the build-up of a strong, home-grown cohort of financial sector and capital market leaders within ASEAN countries and the wider Asia-Pacific region, EDHEC Risk Institute–Asia has created a scholarship scheme aimed at facilitating the participation of outstanding professionals in the executive track of its doctoral programme in Singapore. More...
23/10/13

Awards
Raman Uppal, Professor of Finance at EDHEC Business School, and Member of EDHEC-Risk Institute, was honoured by Management Science with a 2013 Meritorious Service Award in recognition of his service as an Associate Editor. The award distinguishes associate editors who are notable for handling a significant number of manuscripts and guaranteeing a fast turnaround time. More...
17/10/13

Indexes and Benchmarking
In a CFA Institute webcast, entitled "Asia Pacific Index Investing Practices: A Global Comparison", Dr. Felix Goltz, Head of Applied Research at EDHEC-Risk Institute, discusses the index investing practices in the Asia Pacific region based on results of the EDHEC-Risk Asian Index survey. The practices in Asia are compared to those in North America and Europe, based on the EDHEC-Risk North American and European Index surveys. More...
16/10/13

Portfolio Management
In an interview for The Journal of Portfolio Management, Lionel Martellini, Scientific Director of EDHEC-Risk Institute and Professor of Finance at EDHEC Business School, expounded upon a recent invited editorial comment entitled “In Diversification we Trust”. In this short video, Professor Martellini cautions against the pitfalls of traditional mean-variance optimisation and explains that risk diversification is often mistaken for risk management whereas the latter entails another two dimensions, i.e. risk hedging and risk insurance. More...
16/10/13

Executive Education
To support the build-up of a strong, home-grown cohort of financial sector and capital market leaders within ASEAN countries and the wider Asia-Pacific region, EDHEC Risk Institute–Asia is creating a scholarship scheme aimed at facilitating the participation of outstanding professionals in the executive track of its doctoral programme in Singapore. More...
26/07/13

Appointments
EDHEC-Risk Institute is pleased to announce that eight new members have joined its international advisory board, which brings together distinguished scholars, representatives of regulatory bodies as well as senior executives from business partners and other leading institutions. The eight new members are Mr Jacques Beyssade, Chief Risk Officer, Natixis; Ms Suzanne Bishopric, Director, Investment Management Division, United Nations Joint Staff Pension Fund; Mrs Sally Bridgeland, Chief Executive Officer, BP Pension Trustees; Mr Nicolas Gaussel, Chief Investment Officer, Lyxor Asset Management; Mr Peter Heng, Senior Vice President and Chief Investment Officer, NTUC Income Insurance Co-operative; Mr Masamichi Kono, Vice Commissioner for International Affairs, Financial Services Agency, Japan; Mr Tony Lally, Chief Executive Officer, Sunsuper; Mr Tokihiko Shimizu, Director General, Research Department and Investment Policy Actuary, Government Pension Investment Fund (GPIF), Japan. More...
23/07/13

Asset Management Education
Recently, three programme participants have successfully defended their dissertations. Their research work brought new insights on asset allocation, international asset pricing and volatility and dependence transmission. The differentiating ambition of the EDHEC-Risk Institute PhD in Finance is to train a new breed of practitioners who will be combining their practical, in-field expertise with the knowledge and research skills acquired through the programme to exert thought-leadership and introduce radical innovation in the finance industry. More...
18/07/13

Asset Management
In 2004, EDHEC-Risk Institute launched a series of research conferences targeted at the financial services industry which have now become a point of reference in Europe, expanding its offering to Asia in 2012, and to North America in 2013. The Institute will be hosting the next edition of its EDHEC-Risk Days Europe conference on 25-26 March, 2014 at The Mermaid in London, a two-day event providing finance professionals with the state-of-the-art applied research in investment and risk management. More...
17/07/13

Long-Term Investing
Frédéric Blanc-Brude, Research Director at EDHEC Risk Institute—Asia, will be speaking on the theme of long-term investing at the G20 ministerial meeting in Moscow in July and at an OECD/APEC conference in Indonesia in August. More...
03/07/13

Education
EDHEC Business School is proud to announce that its MSc in Financial Markets was ranked in fourth position overall in the third annual global ranking of Masters in Finance pre-experience programmes, published on 24 June, 2013 by the Financial Times. Additionally, the EDHEC MSc in Financial Markets was ranked first worldwide on criteria related to the international dimension of the programme (international course experience and languages). More...
25/06/13

Research
Dominic O’Kane, Affiliate Professor at EDHEC Business School, will be presenting his latest research on the reduction of counterparty risk in the OTC derivatives market at the 3rd International Conference of the Financial Engineering and Banking Society in Paris on 6-8 June, 2013. More...
06/06/13

Appointments
EDHEC-Risk Institute is pleased to announce that three new members have joined its international advisory board: Mr Henrik Gade Jepsen, Chief Investment Officer, ATP, Mr David Iverson, Head of Asset Allocation, Guardians of New Zealand Superannuation, and Mr Thomas Laux, Chief Risk Officer, Eurex Clearing AG. More...
29/05/13

Risk Management
Barry Schachter, Research Associate at EDHEC-Risk Institute and Senior Advisor at RiXtrema, Inc., recently participated in the MSCI Annual Client Conference and has been invited to speak at the RiskMinds USA conference in Boston. More...
29/05/13

Asset Management Education
Practitioners participating in the EDHEC-Risk Institute PhD in Finance have the opportunity to attend the monthly research workshops at which leading scholars present and discuss their research work long before it is published. The workshop series gives participants exposure to original, unpublished, work covering a wide variety of research themes. More...
23/05/13

Asset Management Education
Finance professionals participating in the EDHEC-Risk Institute PhD in Finance programme will have access to a wide choice of electives in 2013 and 2014, during which some of the world’s leading specialists will present their latest research advances in specific fields from "Private Equity","Microstructure" and "Empirical Option Pricing" to "Long-Run Risks in Asset Prices" and "Advances in Modelling and Data Science". More...
21/03/13

Executive Education
EDHEC-Risk Institute will be presenting a seminar entitled "Execution and Trading on Equity Markets – The New Landscape" in Singapore on 31 July 2013. The programme is intended for buy-side and sell-side investment professionals who advise on or participate in the design and implementation of execution and trading strategies. It is also relevant for practitioners working in financial regulation, supervision, and enforcement. More...
20/03/13

Asset Management Education
Organised for the benefit of professionals, the EDHEC-Risk Days present the research conducted by EDHEC-Risk Institute and discuss its implications and applications with the institutional investor and fund manager communities. As part of these conferences, which are attended by hundreds of practitioners in London, Singapore and New York, sponsored by leading financial institutions, the PhD forum provides EDHEC-Risk Institute PhD in Finance candidates with the opportunity to join the speaker faculty and discuss their dissertation work with the industry. More...
25/02/13

Asset Management Education
Finance professionals participating in the EDHEC-Risk Institute PhD in Finance programme will have access to a wide choice of electives in 2013 and 2014, during which some of the world’s leading specialists will present their latest research advances in specific fields from behavioural finance and volatility modelling to high frequency financial econometrics, and from estimation of continuous-time models to Markov switching models. More...
25/01/13

Institutional Investment
Following the success of the inaugural EDHEC-PRINCETON "Academia meets Practice" Conference, which attracted more than 150 finance professionals last year, EDHEC-Risk Institute and Princeton University will be organising the 2013 edition of the conference at The Princeton Club of New York on 3 April, 2013. This one-day conference represents the second time our institutions have joined forces to present our academic research results in finance and the usefulness of our conclusions for the industry to professionals. More...
23/01/13

Appointments
We are honoured to announce that Noël Amenc, Professor of Finance at EDHEC Business School and Director of EDHEC-Risk Institute, has been invited to join industry stakeholders on the European Securities and Markets Authority's Consultative Working Group for Financial Innovation, alongside eighteen fellow members. The Consultative Working Group was established by ESMA in order to advise and provide expertise to its Financial Innovation Standing Committee in the field of financial innovation and related market and product developments that impact both retail and institutional investors. More...
23/01/13

EDHEC-Risk Institute
Jakša Cvitanić, Professor of Finance at EDHEC Business School, and Member of EDHEC-Risk Institute, has been invited to deliver a number of presentations throughout Europe in the next few months. More...
18/01/13

Awards
EDHEC-Risk Institute is pleased to announce that it was honoured with a "Highly Commended" distinction in the European Thought Leadership category at the Funds Europe Awards 2012, the winners of which were announced at a ceremony held at The Tower of London on 29 November, 2012. The Institute was the only organisation to receive a special commendation for the excellence of its work at the event. More...
05/12/12

Appointments
EDHEC-Risk Institute is pleased to announce the appointment of Mr Tomas Franzén, Chief Investment Strategist with Andra AP-fonden (AP2), the second Swedish national pension fund, as chairman of its international advisory board. More...
28/11/12

Asset Management Education
We are delighted to report that Professor Allan Timmermann has agreed to join the EDHEC-Risk Institute PhD in Finance affiliate programme faculty. His research focuses on the behaviour of prices and expectations in financial markets with applications to risk management, portfolio construction, performance evaluation, and forecasting. More...
22/11/12

Executive Education
The CFA Institute/EDHEC-Risk Advances in Equity Portfolio Construction Seminar in Singapore on November 20-21 will provide the technical and conceptual tools to better understand the limits and benefits of different portfolio construction approaches, and discussing alternative equity index strategies. More...
26/10/12

Asset Management Education
Thirteen executive participants have joined the fifth class of the European chapter of the EDHEC-Risk Institute PhD in Finance. They come from four continents and represent twelve countries, have sixteen years of professional experience on average and work in asset and wealth management, corporate and investment banking, and financial services. More...
26/10/12

EDHEC-Risk Institute
Frank J. Fabozzi, Professor of Finance at EDHEC Business School and a member of EDHEC-Risk Institute, one of the most respected figures in the academic community in finance worldwide, author and editor of over one hundred reference textbooks in finance, and the eponymous manager of an authoritative series of finance books for practitioners and academics in numerous fields including fixed income analytics, financial modeling, mortgage-backed securities, municipal bonds, credit derivatives, and financial statement analysis, will shortly be releasing a number of new works. More...
15/10/12

High Frequency Trading
In the coming months, Ekkehart Boehmer, Professor of Finance at EDHEC Business School and Member of EDHEC-Risk Institute, will be making a number of presentations–in San Diego, Hong Kong, Moscow and Paris–of his ongoing research on the impact of high frequency trading on markets, in which he will present new empirical evidence on the relationship between algorithmic trading and the liquidity, efficiency and volatility of equity markets derived from the analysis of nine years of prices and quotes for 13,000 stocks listed on 39 markets around the world. More...
11/10/12

Asset Management Education
The differentiating ambition of the EDHEC-Risk Institute PhD in Finance is to train a new breed of practitioners who will be combining their practical, in-field expertise with the knowledge and research skills acquired through the programme to exert thought-leadership and introduce radical innovation in the finance industry. In the course of the last calendar year, five programme participants from the inaugural class successfully defended their theses. More...
25/09/12

Appointments
EDHEC-Risk Institute is pleased to announce that six new members have joined its international advisory board, which brings together high-level representatives from regulatory bodies, leading pension funds, professional organisations and business partners. The role of the international advisory board is to validate the relevance and goals of the research programme proposals presented by the centre’s management and to evaluate research outcomes with respect to their potential impact on industry practices. More...
24/09/12

Asset Management Education
Next EDHEC-Risk Institute PhD in Finance information sessions will take place in Asia, Australasia and in Europe in the second half of the year. Since 2008, EDHEC-Risk Institute has been offering a unique PhD in Finance programme to elite practitioners who aspire to higher intellectual levels and aim to redefine the investment banking and asset management industries. More...
25/07/12

EDHEC-Risk Institute
Jakša Cvitanić, Affiliate Professor of Finance at EDHEC Business School, and Member of EDHEC-Risk Institute, will be taking part in the 23rd European Summer Symposium in Financial Markets (ESSFM) co-organised by Study Center Gerzensee and CEPR from 16 to 27 July, 2012. More...
10/07/12

EDHEC-Risk Institute
Florencio Lopez de Silanes, Professor of Finance and Law at EDHEC Business School, and Head of the Fund Governance Research Programme at EDHEC-Risk Institute, has been invited to speak at a number of international economic conferences. More...
10/07/12

Asset Management Education
PhD in Finance participants in their second and third years in the European and Asian chapters of the programme will have access to an unprecedented number of elective seminars over the 2012/2013 academic year. Some of the leading minds in finance will present the latest research advances in their specific fields of expertise and discuss their ongoing work with the Institute’s PhD candidates. More...
25/06/12

Asset Management
In 2004, EDHEC-Risk Institute launched a series of research conferences targeted at the financial services industry which have now become a point of reference in Europe. Having expanded its offering to Asia in 2012, EDHEC-Risk Institute is now launching a North American-focused investment conference to enable research results to be compared with the practices and needs of investment professionals in the North American region. More...
22/06/12

Asset Management Education
The PhD in Finance offered by EDHEC-Risk Institute is designed for professionals whose aim is to gain and maintain an in-depth understanding of finance as well as the ability to initiate and carry through research projects that will yield original insights and lead to innovative approaches and offerings. In the second and third year of their studies, PhD in Finance candidates work closely with programme faculty on dissertation topics selected for their academic and industry relevance and according to their research interests and professional goals. More...
24/05/12

Risk Management
On 5 June, 2012 at a workshop organised in Paris by the AFG, the French Asset Management Association, a panel of industry representatives will be discussing the results of the recent EDHEC-Risk Institute study entitled "Shedding Light on Non-Financial Risks - a European Survey", produced as part of the "Risk and Regulation in the European Fund Management Industry" research chair at EDHEC-Risk Institute in partnership with CACEIS. More...
16/05/12

Asset Management
Based on the principle of delivering research insights to investment professionals, the inaugural EDHEC-Risk Days Asia 2012 conference, which took place at the Marina Bay Sands conference centre in Singapore on May 9 and 10 last, proved to be a great success. Organised by an academic research centre for the benefit of professionals, EDHEC-Risk Days Asia discussed research conducted by EDHEC-Risk Institute with the institutional investment and wealth management communities. More...
16/05/12

Asset Management Education
The next deadline to submit applications for the EDHEC-Risk Institute PhD in Finance Executive Track is May 30 (for the Europe-based programme starting in October 2012 and for the Asia-based programme starting in February 2013). The number of seats in the programme is limited so as to guarantee the quality of teaching and research supervision. More...
25/04/12

Appointments
EDHEC-Risk Institute is pleased to announce the appointment of Mr. Jean-Paul Villain, Director of the Strategy Unit at the Abu Dhabi Investment Authority (ADIA), to its international advisory board. The board brings together some forty senior representatives from regulatory bodies, leading pension funds, professional organisations and business partners to validate the relevance and goals of the research programme proposals presented by the Institute’s management and to evaluate research outcomes for their potential impact on industry practices. More...
18/04/12

Executive Education
Designed and delivered by a leading expert in commodity research, this intensive seminar equips participants with a comprehensive overview of commodities markets and investments, detailed knowledge of commodity futures pricing, and state-of-the-art techniques for strategic and tactical asset allocation to commodities. It also sheds academic light on the financialisation of commodity markets and the role of speculators. More...
22/03/12

Asset Management Education
Georgia State University Professor Vikas Argawal, and Duke University Professor Michael Brandt have joined the affiliate faculty of the EDHEC-Risk Institute PhD in Finance programme. They strengthen an exceptional team of international scholars that brings together thirty two senior economics and finance scholars drawn from EDHEC Business School and foremost research institutions around the world. More...
21/03/12

EDHEC-Risk Institute
Jakša Cvitanić and Raman Uppal will be participating in forthcoming academic conferences in New York and Mannheim respectively. More...
16/03/12

Asset Management
Bernhard Scherer, Affiliate Professor of Finance at EDHEC Business School, was invited to speak at the Morningstar Investment Conference Europe held in Vienna on 15-16 March. The conference, attended by institutional investors from across Europe, including insurance companies, private banks, wealth managers, pension funds, family offices, endowments, fund companies, and investment consulting firms, brought together a number of prominent speakers from academic institutions, global companies, and financial services providers to discuss relevant industry topics. More...
16/03/12

Awards
Raman Uppal, Member of EDHEC-Risk Institute and Professor of Finance at EDHEC Business School, together with co-authors Grigory Vilkov and Yuliya Plyakha, both of Goethe University in Frankfurt, has been awarded first prize at the SPIVA Awards for the paper "Why Does an Equal-Weighted Portfolio Outperform Value- and Price-Weighted Portfolios?". The first annual SPIVA Awards support researchers from around the world who explore innovative techniques that enhance the use of indices in the financial markets. More...
14/03/12

Awards
A paper by Véronique Le Sourd, Senior Research Engineer at EDHEC-Risk Institute, entitled "Performance of Socially Responsible Investment Funds against an Efficient SRI Index: The Impact of Benchmark Choice when Evaluating Active Managers", was shortlisted for the Farsight Award 2011/12, a category of the prestigious Sustainable City Awards organised by the City of London Corporation to promote outstanding achievements and innovation across all aspects of sustainability, the winners of which were announced at the 11th annual ceremony held at the Mansion House in London on March 1, 2012. More...
14/03/12

Executive Education
EDHEC-Risk Institute is holding two intensive seminars in Singapore in March and April, drawing from the latest results of its research in the fields of "Execution and Trading on Equity Markets – The New Landscape" and "State-of-the-Art Commodities Investing". More...
22/02/12

Asset Management
In the middle of the last decade, EDHEC-Risk Institute launched a series of research conferences targeted at the financial services industry which have now become a point of reference in Europe. In the wake of the set up of EDHEC-Risk Institute—Asia, the Institute is introducing an Asia-focused investment conference for end-investors, traditional and alternative investment managers, investment bankers, and wealth managers. The event will take place in Singapore on the 9th and 10th of May 2012 at the Marina Bay Sands Conference Centre. More...
22/02/12

Asset Management Education
Eleven executive participants have joined the second class of the Asian chapter of the EDHEC-Risk Institute PhD in Finance. They come from five continents and represent ten countries, have seventeen years of professional experience on average and work in investment banking, investment management, financial services, and academe. More...
22/02/12

Institutional Investment
At a breakfast seminar organised in Paris on 31 January, 2012 by the European Institute of Financial Regulation (EIFR), Philippe Foulquier, Professor of Finance & Accounting at EDHEC Business School and Director of the EDHEC Financial Analysis and Accounting Research Centre, and Romain Deguest, Senior Research Engineer at EDHEC-Risk Institute, were invited to discuss the topic of how to optimise capital cost and equity investment within the framework of Solvency II. More...
21/02/12

Executive Education
During the first six months of 2012, EDHEC-Risk Institute will be offering a number of advanced executive seminars on investment management across traditional and alternative classes in Europe and North America, designed and delivered by some of the most respected practitioners and academics in the field. More...
23/01/12

Asset Management Education
Finance professionals participating in the EDHEC-Risk Institute PhD in Finance programme will have access to an unprecedented number of electives in 2012 and 2013, during which some of the world’s leading specialists will present their latest research advances in specific fields from behavioural finance and microstructure to asset allocation and portfolio construction, from estimation of continuous-time models to Monte-Carlo methods, and from derivatives pricing to risk management. More...
23/01/12

EDHEC-Risk Institute
EDHEC-Risk Institute celebrated its 10-year anniversary in 2011. In the ten years since EDHEC-Risk Institute was set up in August 2001, the support of our business partners has enabled EDHEC-Risk to become experts in the area of risk in asset management. Those ten years have also seen us extend our influence in Europe, with our London-based research centre, and also in Asia, where we have established EDHEC Risk Institute—Asia with the support of the Monetary Authority of Singapore (MAS). In order to mark the tenth anniversary of EDHEC-Risk Institute, and to thank its partners for their continued support over the years, three special celebratory events were held on October 24 in Singapore, on November 28 in London, and on December 8 in Paris, where senior representatives from the Institute and its partners presented the highlights and achievements of the past decade. More...
23/01/12

Asset Management Education
Since 2008, EDHEC-Risk Institute has been offering a unique PhD in Finance programme to elite practitioners who aspire to higher intellectual levels and aim to redefine the investment banking and asset management industries. More...
20/12/11

EDHEC-Risk Institute
Several years ago, EDHEC-Risk Institute launched a series of research conferences targeted at the financial services industry which have now become a point of reference in Europe. In the wake of the set-up of EDHEC-Risk Institute—Asia, the Institute is introducing the same concept in the region with the launch of an Asian focused investment conference for traditional and alternative investment managers, private bankers, institutional investors, and family offices, taking place in Singapore on 9-10 May, 2012 at the Marina Bay Sands Conference Centre. More...
24/11/11

Executive Education
This intensive four-day course, designed and delivered by François-Serge Lhabitant, a leading expert in the theory and practice of hedge fund investing, will impart an advanced understanding of the strategies implemented by hedge funds and commodity trading advisors, equip participants with quantitative tools to analyse the performance and risks of alternative investments, and provide qualitative and quantitative insights for optimal portfolio construction and risk management of institutional portfolios containing alternative investments. More...
24/11/11

Executive Education
EDHEC-Risk Institute will deliver an unprecedented number of executive seminars in the United States in 2012 through geographic extension and the launch of new courses. More...
21/11/11

Asset Management Education
EDHEC-Risk Institute awarded doctoral degrees last month to two candidates in the inaugural class of its PhD in Finance programme. The programme’s first two graduates, Gideon Ozik and Daniel Mantilla-Garcia defended their thesis in mid-October. Dr. Ozik authored two essays on hedge funds, while Dr. Mantilla-Garcia studied idiosyncratic volatility and the predictability of returns. More...
21/11/11

EDHEC-Risk Institute
Ekkehart Boehmer, Professor of Finance at EDHEC Business School and Member of EDHEC-Risk Institute, has been invited by Financial Management to serve as Associate Editor. Financial Management is the main academic publication of the Financial Management Association International, an organisation that prides itself as being the “global leader in developing and disseminating knowledge about financial decision making.” The journal publishes significant new scholarly research in finance. More...
18/11/11

EDHEC-Risk Institute
EDHEC-Risk Institute Professor Frank Fabozzi has been invited to become a member of the Q Group Research Committee. The purpose of the Q Group is to help the investment community create and implement structured solutions to financial and investment problems. Its research programme provides financial support for superior academic research projects with potential applications in the field of investment management. More...
18/11/11

Executive Education
The New Frontiers in Equity Investing Seminar is an intensive two-day course providing participants with both the technical and conceptual tools to better understand the limits and benefits of traditional and alternative equity benchmarks. More...
26/10/11

Asset Management Education
At a special presentation in Singapore on November 17, 2011, Jakša Cvitanic, Professor of Mathematical Finance at the California Institute of Technology and Affiliate Faculty of the EDHEC-Risk Institute PhD in Finance will be discussing his recent research modelling the impact of high-frequency traders on limit order markets. More...
26/10/11

EDHEC-Risk Institute
EDHEC-Risk Institute is celebrating its 10-year anniversary in 2011. The success of the Institute over the past ten years would not have been possible without the support of the investment management industry. In order to mark the tenth anniversary of EDHEC-Risk Institute, and to thank its partners for their continued support over the years, three special celebratory events will be held on October 24 in Singapore, on November 28 in London, and on December 8 in Paris, where senior representatives from the Institute and its partners will present the highlights and achievements of the past decade. More...
21/10/11

Portfolio Management
A new book entitled "Equity Valuation and Portfolio Management" co-edited by Frank J. Fabozzi, Professor of Finance at EDHEC Business School and member of EDHEC-Risk Institute, together with Harry M. Markowitz, the 1990 co-recipient of the Nobel Prize in Economics, has just been published by John Wiley & Sons. More...
28/09/11

Indexes & Benchmarking
At a special press presentation to be held in London on October 11, 2011, Noël Amenc, Professor of Finance at EDHEC Business School, and Director of EDHEC-Risk Institute, will be presenting the results of a recent European survey on the use of equity and bond indices by institutional investors. More...
27/09/11

Indexes & Benchmarking
A special presentation based on recent research conducted by Raman Uppal, Professor of Finance at EDHEC Business School, explaining how to shed light on the performance of equally-weighted equity indices and its sources, will be held in Singapore on November 3. More...
23/09/11

Asset Management Education
Some 16,000 people have expressed interest in the programme and 108 applications have been processed to date for the programmes starting in October in Europe and in February in Asia. The entering class of October 2011 (European chapter) will start the programme on the EDHEC Risk Institute–Europe campus in London. During the first of the four residential weeks of the academic year, these new PhD in Finance participants will attend two of the required courses and participate in their first monthly research workshop. More...
22/09/11

Executive Education
Nexar Capital Head of Investment Solutions Gideon Ozik became the first EDHEC-Risk Institute PhD in Finance candidate to be invited to present some of his dissertation work at the annual meeting of the American Finance Association, the most prestigious academic conference devoted to financial economics. The event will be held January 6-8, 2012 in Chicago. More...
25/08/11

EDHEC-Risk Institute
Ekkehart Boehmer, Professor of Finance at EDHEC Business School and Member of EDHEC Risk Institute, was invited by the Review of Financial Studies to serve as Associate Editor for a three-year period starting in July 2011. Established in 1987, the Review of Financial Studies has quickly become a major forum for the promotion and extensive dissemination of significant new research in financial economics and is widely considered to be one of the most prestigious scientific journals dedicated to financial economics. More...
19/08/11

EDHEC-Risk Institute
The Singapore Council for Private Education (CPE), the country’s regulator for the private education sector, has awarded a six-year registration period to EDHEC Risk Institute—Asia. Mr Olivier Oger, Dean of EDHEC Business School commented: “In 2010, Singapore’s Economic Development Board invited EDHEC-Risk Institute to join its Global Schoolhouse initiative and contribute to build-up the Singapore Education brand-name in finance. The award of a registration by the CPE for the longest duration provided by its rules demonstrates a high degree of compliance with the quality assurance requirements the regulator has set forth for academic institutions operating in and from Singapore.” More...
19/08/11

EDHEC-Risk Institute
Frank J. Fabozzi, Professor of Finance at EDHEC Business School and member of EDHEC-Risk Institute, has been invited to serve as the honorary editor of two new journals, the Journal of Mathematical Finance and Theoretical Economics Letters. The Journal of Mathematical Finance aims to present the latest developments in pure and applied financial mathematics. Topics covered include financial engineering, financial statistics, pricing theory of securities and portfolio, quantitative economics, solutions to PDEs, stochastic optimisation and control, and stochastic processes. The Theoretical Economics Letters journal covers all topics in economic theory and mathematical economics, including econometric theory, experimental and behavioral economics, mathematical economics, mathematical finance, macroeconomic theory, and microeconomic theory. More...
19/08/11

EDHEC-Risk Institute
Ekkehart Boehmer, Professor of Finance at EDHEC Business School and Member of EDHEC-Risk Institute, together with co-authors Zsuzsa Huszar of the National University of Singapore and Bradford Jordan of the University of Kentucky, were voted first-place winners of the Fama-DFA Prizes for the best papers published in the Journal of Financial Economics in the areas of capital markets and asset pricing over the past year. More...
19/08/11

EDHEC-Risk Institute
Raman Uppal, Professor of Finance at EDHEC Business School and Member of EDHEC-Risk Institute, has been appointed to the board of directors of the American Finance Association, the world’s premier academic organisation devoted to the study and promotion of knowledge about financial economics. More...
19/08/11

Awards
The paper, entitled "Property Derivatives for Managing European Real-Estate Risk", which was co-authored by Professor Frank J. Fabozzi, currently at Yale School of Management, joining EDHEC-Risk Institute on 1 August, 2011, together with Professors Robert J. Shiller, from the Department of Economics, Cowles Foundation, and School of Management, Yale University, and Radu Tunaru, from the University of Kent, was originally published in the January 2010 issue of EFM Journal. More...
27/06/11

Asset Management Education
More than 100 applications were received by the winter and spring deadlines. The average GMAT score of the executive track applicants was 643, and for the residential track applicants it was 638. Nineteen executive track and two residential track applicants were admitted. Their median GMAT score is 680, and their median GRE scores are 625 (verbal) and 790 (quantitative). More...
27/06/11

Indices and Benchmarking
EDHEC-Risk Institute has been conducting academic research into index and benchmark construction for the past ten years. The EDHEC-Risk North America Index Survey aims to better understand how investors evaluate the qualities of an index for their equity and fixed income investments, which problems investors face when using existing indices, and how they judge alternative indexing methods. More...
30/05/11

Asset Management Education
Professor Fabozzi is a specialist in fixed-income analysis, investment management, and structured finance, while Professor Fan focuses on financial econometrics, non-linear time series, and statistical theory and methods. More...
30/05/11

Investment Management
Sergio Focardi, professor of finance at EDHEC Business School, was invited to speak at a session at the 10th Annual Research for the Practitioner Workshop on 8 May in Edinburgh on the profound changes in the investment management industry caused by the recent global financial crisis. More...
24/05/11

Indexes and Benchmarking
The EDHEC-Risk 2011 Survey on the Use of Indices and ETFs by Asian Investors focuses on the practices and perceptions of Asian investors in the area of indices and passive investment vehicles and aims to better understand how investors in the region evaluate the qualities of an index for their equity and fixed-income investments, what the typical problems are that an investor faces when using currently available indices, and how investors perceive existing passive investment vehicles. More...
24/05/11

Indices and Benchmarking
EDHEC-Risk is conducting an academic research project to better understand the practices and perceptions of Asian investors in the area of indices and passive investment vehicles. The survey seeks to explore how investors in Asia evaluate the qualities of an index for their equity and fixed-income investments, and their opinion on the state of passive investment vehicles. More...
28/04/11

Asset Management Education
The next and final deadline to apply for the EDHEC-Risk Institute PhD in Finance Executive Track (Europe-based programme) is May 13, 2011. The number of seats in the programme is limited in order to guarantee the quality of teaching and research supervision. More...
19/04/11

ALM and Asset Management
At a seminar entitled, “The Elephant in the Room: Accounting and Sponsor Risks in Corporate Pension Plans”, Samuel Sender, Applied Research Manager at EDHEC-Risk Institute, will present a major study conducted by EDHEC-Risk Institute as part of the research chair on "Regulation and Institutional Investment" endowed by AXA Investment Managers. The study analyses how pension funds and sponsors manage the main risks they face and how institutional constraints influence the investment strategy of sponsors and pension funds. More...
15/04/11

ALM and Asset Management
At a special presentation entitled “How to Improve Corporate Debt Programmes with Inflation Linked Corporate Bonds” organised in Paris on 3 May, Lionel Martellini, Scientific Director at EDHEC-Risk Institute, will detail the recent EDHEC-Risk Institute research in this field conducted as part of the Rothschild & Cie research chair on "The Case for Inflation-Linked Corporate Bonds: Issuers’ and Investors’ Perspectives". More...
15/04/11

Private Equity
At a special presentation in London on 10 May, Florencio Lopez de Silanes, Professor of Finance at EDHEC Business School, and Director of the Mutual Fund Governance Research Programme at EDHEC-Risk Institute, will be presenting his recent research on private equity, in which he examined the determinants of private equity returns using a newly constructed worldwide database of 7,500 investments made over thirty years. More...
15/04/11

Regulation
The Foundation Banque de France has awarded a research grant to a project entitled “Comparing Different Regulatory Measures to Control Stock Market Volatility: A General Equilibrium Analysis” conducted by Professor Raman Uppal of EDHEC Business School, together with co-researchers Bernard Dumas (INSEAD), Adrian Buss and Grigory Vilkov (both Goethe University Frankfurt). The project will compare the effects of different regulatory measures that a central bank can use to reduce stock market volatility and ensure orderly financial markets. More...
12/04/11

Institutional Investment
At a special presentation to be held in London on April 18, Noël Amenc, Director, EDHEC-Risk Institute, and Liam Kennedy, Editor, Investment & Pensions Europe, will present the IPE EDHEC-Risk Institute Research Insights supplement and provide information on research-based solutions to some of the key challenges facing institutional investors today. More...
29/03/11

Regulation
The International Centre for Financial Regulation (ICFR) and EDHEC Business School have joined forces to develop a half-day conference in Lille (France) on May 17, 2011 to provide a forum for discussing the latest research into the current issues and practices of "Enterprise Wide Risk Management and Corporate Governance for Insurance Firms", whilst focusing on the implications of changing solvency, capital adequacy and accountability requirements, and their interrelationships between various regulatory, shareholder and management perspectives on the effective management of these organisations. More...
24/03/11

Indices & Benchmarking
At a special presentation organised in London on April 20, 2011, Noël Amenc, Director, and Felix Goltz, Head of Applied Research, at EDHEC-Risk Institute, drawing on research from the Institute’s “Indices & Benchmarking” research programme, will be exploring enhanced index and optimal benchmark construction and looking at new forms of indices and benchmarks. More...
23/03/11

Asset Management Education
Jointly organised by CFA Institute and EDHEC-Risk Institute, the Alternative Asset Allocation Seminar is an intensive three-day course that will impart advanced concepts and practical tools for optimal construction and risk management of multi-style multi-class portfolios. It will also enable participants to derive the full benefits of real assets for asset management and asset-liability management (ALM) while controlling for their specific risks. More...
23/03/11

Regulation
Timothy Spangler, a partner in the London and New York offices of Kaye Scholer LLP, a leading international law firm, and research associate at EDHEC-Risk Institute, is a featured contributor on Forbes.com, the leading internet media company website aimed at business leaders, professionals, investors and affluent consumers. In his column entitled “Law of the Market”, Timothy focuses on the legal and regulatory issues surrounding Wall Street, both domestically and internationally. More...
22/03/11

Risk Management
In the webcast, Dr. Scherer examines this key issue for asset management firms and discusses the desirability of hedging production risk and capital market-related business risk, as well as approaches to implement the hedging programme. More...
22/03/11

Asset Management Education
The deadline to submit applications for the EDHEC-Risk Institute PhD in Finance Executive Track is May 13th, 2011. The number of places in the programme is limited in order to guarantee the quality of teaching and research supervision. More...
22/03/11

Appointments
EDHEC-Risk Institute is pleased to announce that three new members have joined its International Advisory Board: Mr. Tomas Franzén, Chief Investment Strategist, AP2, Mr. Jaap van Dam, Managing Director Investment Strategy, PGGM, and Mr. Stuart Lewis, Chief Credit Officer and Deputy Chief Risk Officer, Deutsche Bank. The role of the Board is to advise on the relevance and goals of the research programme proposals presented by the Institute’s management and to evaluate research outcomes with respect to their potential impact on industry practices. More...
11/03/11

EDHEC-Risk
At an exclusive reception held at its newly-opened London premises on the evening of April 6, EDHEC-Risk Institute will be celebrating the past, present and future of its research activities in Europe. Through presentations and testimonials, the event will underline the relevance of the research conducted by EDHEC-Risk Institute for financial institutions and end-investors. More...
07/03/11

Credit Default Swaps
The CDS valuation model calculator found on www.cdsvalue.com is based on the standard CDS valuation set out in the book "Modelling Single-name and Multi-name Credit Derivatives" by Dominic O'Kane. Its aim is to provide a rough and ready calculator for the valuation of a credit default swap which can be used for educational purposes. More...
23/02/11

Asset Management Education
Following a stimulating scientific curriculum and working individually with leading specialists on research issues of particular relevance to their organisations, practitioners on the programme’s executive track learn to leverage their expertise and insights to make original contributions at the frontiers of financial knowledge and practices. More...
22/02/11

Portfolio Management
At a special presentation to be held in London on March 8, Raman Uppal, Professor of Finance at EDHEC Business School, and Member of EDHEC-Risk Institute, will be drawing on his recent research to explain how to use more efficient constraints and prices of other assets, such as financial options, to optimise construction of stock portfolios. More...
18/02/11

EDHEC-Risk
EDHEC-Risk Institute marked its official Asian debut at an exclusive ceremony and reception held at its newly opened Singapore premises on January 21. The grand opening was placed under the auspices of Mr Heng Swee Keat, Managing Director of the Monetary Authority of Singapore, and His Excellency Olivier Caron, Ambassador of France to Singapore, who delivered keynote speeches on the occasion. More...
24/01/11

Asset Management Education
The recent PhD Forum, organised as part of the fourth edition of the EDHEC-Risk Institutional Days conference, was the opportunity for a selection of final year PhD candidates to present their dissertation work to some of the 600 representatives from the institutional investor and fund manager communities who had flown to Monaco from 41 countries to discuss the Institute’s latest research results. More...
21/01/11

Private Equity
A report published in Financial Times Fund Management on 17 January, entitled "Big buy-out firms poor performers", discusses the conclusions of newly-released research by Florencio Lopez-de-Silanes of EDHEC Business School with co-authors Ludovic Phalippou and Oliver Gottschalg, which finds that the scale of private equity firms is a significant and consistent driver of returns, with smaller investments outperforming large ones. More...
21/01/11

Executive Education
The next sessions of the Advances in Asset Allocation seminar will be held in New York on 8-10 March and in Singapore on 29-31 March. The seminar, organised in conjunction with CFA Institute, is an intensive three-day course providing participants with an in-depth appreciation of the concepts and techniques that will shape the future of investment management. More...
21/01/11

Investment Management
Sergio Focardi, Professor of Finance at EDHEC Business School, will be visiting a number of European cities to present the CFA Institute monograph entitled “Investment Management after the Global Financial Crisis”, commissioned by the Research Foundation of CFA Institute to ascertain how the financial crisis affected, and will continue to affect, investment management decisions and processes as well as the investment management industry itself. More...
12/01/11

Asset Management Education
Since 2008, EDHEC-Risk Institute has been offering a unique PhD in Finance programme to elite practitioners who aspire to higher intellectual levels and aim to redefine the investment banking and asset management industries. More...
17/12/10

Institutional Investment
On 20 January, 2011 at the Raffles Hotel in Singapore, EDHEC-Risk Institute is organising a special event at which senior representatives from AXA Investment Managers, Deutsche Bank, and Société Générale will discuss how the research conducted by EDHEC-Risk Institute with the support of their organisations can help Asian institutional investors overcome the challenges they face. More...
16/12/10

Executive Education
The Advances in Asset Allocation Seminar, taking place from 30 November to 2 December in London, has once again met with strong demand and places have sold out quickly. The next editions of the seminar will be held in New York and Singapore. More...
25/11/10

Executive Education
The innovative Executive MSc in Risk and Investment Management has been introduced by EDHEC-Risk Institute for practitioners who wish to embrace and lead the major changes that will reshape the investment management industry. The programme is offered both in Europe, from London and Nice, and in Asia, from Singapore, and can be completed over 17 months of part-time studies. More...
25/11/10

EDHEC-Risk
To strengthen its research team and develop its industry outreach activities, EDHEC-Risk Institute is seeking two experienced Financial Analysts to join teams based in London and Singapore. Established in 2001, EDHEC-Risk Institute has become the premier centre for financial research and its applications. In partnership with the industry, its team of fifty-six permanent professors, engineers and support staff implements six research programmes and eleven research chairs focusing on asset allocation and risk management. More...
22/11/10

Executive Education
Stoyan Stoyanov, Head of Research with EDHEC Risk Institute—Asia, will be speaking at a seminar on risk management organised by CFA China, participating in the 8th China Roundtable on Global Institutional Investments in Shanghai and presenting EDHEC-Risk Institute's research on equity indices and benchmarking at separate events in Shanghai on November 22 and 23. More...
27/10/10

Indices and Benchmarking
EDHEC-Risk is conducting an academic research project to better understand how investors evaluate the qualities of an index for their equity and fixed income investments, which problems investors face when using existing indices, and how they judge alternative indexing methods. More...
26/10/10

Executive Education
In the first week of November, EDHEC-Risk Institute will be running three seminars in Singapore and Hong Kong on the themes of risk management and equity indices and benchmarking. Stoyan Stoyanov, Head of Research with EDHEC Risk Institute—Asia, will open the series by presenting EDHEC-Risk Institute's research on Equity Indices and Benchmarks at the Fullerton Hotel in Singapore on the morning of November 2. The presentation will run from 8.30am (registration) to 11.00am. Professor Stoyanov will be exploring enhanced index and optimal benchmark construction and looking at new forms of indices and benchmarks. More...
26/10/10

Regulation
The International Centre for Financial Regulation (ICFR) and EDHEC Business School are jointly holding a conference, “Enterprise Risk Management and Corporate Governance for Insurance Firms” on 17 May 2011 at the brand new EDHEC Business School campus in Roubaix, France. More...
25/10/10

Education
As the 2010/2011 academic year begins, EDHEC finance students and graduates will be available during and after their studies for temporary missions, long-term internships or recruitment. Students involved in sandwich years and part-time programmes, such as the MSc in Risk & Investment Management which is being run in Asia and in Europe, are available for placements or apprenticeship. More...
08/10/10

Institutional Investment
At the EDHEC-Risk Institutional Days in Monaco on December 8 and 9, 2010, academic experts from EDHEC-Risk will be presenting their research and discussing the results with the institutional investor and fund management communities. In 2010, EDHEC-Risk’s partnership with Investment & Pensions Europe will enable the institutional days to be held on the two days following the IPE Pension Fund Awards in Monaco, Europe’s largest gathering of pan-European pension funds, thus providing an exceptional opportunity for the awards ceremony attendees to take advantage of their visit to Monaco in order to bring themselves up-to-date with the latest developments in institutional investment research. More...
28/09/10

Asset Management Education
The Singapore Economic Development Board has invited EDHEC-Risk Institute at EDHEC Business School to join the Global Schoolhouse initiative. More...
27/09/10

Asset Management Education
The appeal of the EDHEC-Risk Institute PhD in Finance has continued to grow, with some 5,000 people having expressed interest in the programme over the last 12 months. 126 applications have been processed to date, and with the final deadline for applications to the Asian chapter of the programme having closed on September 17, the figure for the year is set to break last year’s record. More...
24/09/10

Institutional Investment
In an article entitled "Pensions falling short on risk management", featured in the Financial Times on May 31 last, Samuel Sender, Applied Research Manager at EDHEC-Risk Institute, drew on the results of a recent EDHEC-Risk survey of the asset-liability management practices of European pension funds to conclude that most of the respondents had a restrictive view of the risks they face and should change their practices, notably by favouring rule-based risk management strategies over discretionary ones. More...
23/09/10

EDHEC-Risk
In order to strengthen its research team and develop its industry outreach activities, EDHEC-Risk Institute is currently looking to fill two positions for a Senior Research Engineer/Analyst, in both its Nice and Singapore offices. Established in 2001, EDHEC-Risk Institute has become the premier centre for financial research and its applications. In partnership with the industry, its team of sixty-four permanent professors, engineers and support staff implements six research programmes and ten research chairs focusing on asset allocation and risk management. More...
16/09/10

Commodities
In an article published in the Financial Times on July 19, 2010, Joëlle Miffre, member of the core programme faculty for the EDHEC Risk Institute Executive MSc in Risk and Investment Management and Professor of Finance at EDHEC Business School, argued that a well-constructed commodity benchmark should be used as a building block for strategic asset allocation. More...
13/09/10

Academic Research
EDHEC-Risk Institute is pleased to announce that it is now hosting its own forum in the "FTfm Alchemy" section of the Financial Times website. The forum, hosted by Felix Goltz, Head of Applied Research at EDHEC-Risk Institute, and Stoyan Stoyanov, Head of Research at EDHEC Risk Institute–Asia, was launched on 31 August, with an initial theme of "What theory has to say on cap-weighted indices". More...
07/09/10

Quantitative Finance
Dr. Sergio Focardi, Professor of Finance at EDHEC Business School, has just released a new book entitled "Probability and Statistics for Finance", co-authored with Frank J. Fabozzi, Markus Hoechstoetter and Svetlozar T. Rachev. Published by Wiley, the book takes a comprehensive look at how probability and statistics can be applied to the investment process. More...
07/09/10

ALM & Asset Management
An exclusive presentation of the results of the EDHEC-Risk Survey of European Private Wealth Management Practices 2010 will be taking place at a series of three early-evening seminars, entitled "The Evolution of Value-Added in Private Wealth Management and the Asset-Liability Management Approach", held in London, Zurich and Luxembourg between 28 and 30 September, as part of the Ortec Finance "Private Asset-Liability Management" research chair. As well as presenting the results of the survey, the seminars will also focus on understanding the application of the Asset-Liability Management (ALM) methodology in Private Wealth Management (PWM). In addition, representatives from Ortec Finance will present Ortec Finance solutions developed for Private ALM for different client segments ranging from retail to private banks. More...
07/09/10

Awards
EDHEC-Risk Institute is proud to announce that the Institute for Quantitative Investment Research (Inquire) Europe has awarded its First Prize for 2009/2010 to Professor Lionel Martellini, Scientific Director of EDHEC-Risk Institute, for research presented at the Inquire Autumn Seminar 2009 in Madrid, and developed in conjunction with Vincent Milhau, Research Engineer with EDHEC-Risk Institute. More...
30/08/10

Asset Management Education
Executive MSc in Risk and Investment Management core faculty members Noël Amenc, Lionel Martellini, Felix Goltz, François Lhabitant, and Bernd Scherer recently participated in the CFA Institute Take 15 Series. The Take 15 Series is a continuing series of short interviews with leading practitioners on timely topics focused on the investment profession. More...
23/07/10

Asset Management Education
The search for talent has met with remarkable success and further strengthened what was already an exceptional group of international scholars. The core programme faculty is made up of full-time EDHEC Business School professors. Core faculty members design and deliver the majority of core courses, act as primary dissertation directors, and offer elective courses linked to their expertise and research interests. More...
22/07/10

Asset Management Education
Ninety applications were received by the winter deadlines of 11 December, 29 January and 30 March. The average GMAT score of the applicants was 669; executive-track applicants averaged 679, residential track applicants 666. Nine executive-track and four residential-track applicants were admitted. Twelve confirmed that they would be joining the programme, with eight opting for Europe and four for Asia. Their median GMAT score was 730, and their median GRE scores were 675 (verbal) and 795 (quantitative). More...
22/06/10

Executive Education
The innovative Executive MSc in Risk and Investment Management has been introduced by EDHEC-Risk Institute for practitioners who wish to embrace and lead the major changes that will reshape the investment management industry. The programme is offered both in Europe, from London and Nice, and in Asia, from Singapore, and can be completed over 17 months of part-time studies. More...
11/06/10

Risk and Asset Management Research
The launch of EDHEC Risk Institute—Asia was announced at a series of events at the end of April and the beginning of May in Singapore, London and Paris. In front of several hundred guests, EDHEC-Risk Institute drew on its research results to make special presentations on the added-value of risk management in asset management, the future of private wealth management and state-of-the-art equity indices and benchmarks. More...
25/05/10

Asset Management Education
Nearly 6,000 people have expressed interest in the programme over the last twelve months. The next PhD in Finance information sessions will be taking place in Stockholm, Melbourne, Montréal, New York, Rio de Janeiro, San Francisco, Shanghai, Singapore and Tokyo. More...
20/05/10

Risk
A special series of presentations will be taking place in several major European cities in May and June 2010 to present a summary of the institutional investment research carried out by EDHEC-Risk Institute in recent times and pointing towards the developments that can be expected over the next few years in the light of advances in academic research. More...
06/05/10

Indices & Benchmarking
Recent research drawn from the Amundi ETF "Core-Satellite and ETF Investment" research chair will be jointly presented by Amundi ETF and EDHEC-Risk Institute at a series of seminars organised throughout Europe between April and June, 2010. More...
28/04/10

Indices & Benchmarking
After London and Tokyo in March, the Equity Indices & Benchmarks Seminar Series, which explores enhanced index and optimal benchmark construction and examines new forms of indices and benchmarks, will be held in other major cities over the next few months. More...
27/04/10

Executive Education
Together with CFA Institute, EDHEC-Risk has introduced seminars that take stock of the latest industry trends and research advances and clarify the distinction between true innovation and mere marketing claims. The Advances in Asset Allocation seminar is an intensive three-day course that will provide participants with an in-depth appreciation of the concepts and techniques that will shape the future of investment management. More...
23/04/10

Asset Management Education
The next and final deadline to apply for the PhD in finance Executive Track (European cohort) is May 14, 2010. The number of seats in the programme is limited in order to guarantee the quality of research supervision. The complete application file consists of the application form, two forms/letters of recommendation, transcripts from undergraduate and any graduate programmes, copies of diplomas, GMAT or GRE scores, proof of English proficiency (e.g. test scores), evidence of research capability in the form of a writing sample (master’s thesis or scholarly publication) or of a well developed proposal for a doctoral thesis (up to 2,000 words), a personal resume and a copy of passport/birth certificate. More...
23/04/10

Investment Management
On the occasion of the announcement of the launch of EDHEC Risk Institute—Asia, a series of three seminars based on the EDHEC Risk Institute's state-of-the-art research will be held in Singapore on April 28 and 29. More...
24/03/10

Asset Management Education
At a special presentation organised on April 29 at the Raffles Hotel in Singapore, René Garcia, Academic Director of the EDHEC-Risk Institute PhD in Finance and Professor of Finance at EDHEC Business School, and Federico Bandi, Affiliate Professor at EDHEC-Risk Institute and Professor of Economics and Finance at The Johns Hopkins Carey Business School, will present the state of academic research on long-term asset pricing and portfolio management. The research presentation will be followed by an introduction of the EDHEC-Risk Institute PhD in Finance programme and a discussion of its upcoming extension to the Asia Pacific region. More...
23/03/10

Asset Management Education
The next deadline to submit applications for the EDHEC-Risk Institute PhD in Finance Executive Track is May 14th. The number of seats in the programme is limited in order to guarantee the quality of research supervision. More...
23/03/10

Portfolio Management
Dr. Sergio Focardi, Professor of Finance at EDHEC Business School, and Programme Director of the EDHEC-Risk Institute Executive MSc in Risk and Investment Management for Europe, has released a new book entitled “Quantitative Equity Investing: Techniques and Strategies”, co-authored with Frank J. Fabozzi and Petter N. Kolm. Published by Wiley, the book takes a comprehensive look at the tools and techniques used in quantitative equity management. More...
17/03/10

Indices and Benchmarking
At special presentations to be held in Asia, Europe and North America, starting in Tokyo and London in March, Lionel Martellini, Scientific Director of EDHEC-Risk Institute, drawing on research from the centre’s "Indices & Benchmarking" research programme, will be exploring enhanced index and optimal benchmark construction and looking at new forms of indices and benchmarks. More...
24/02/10

Executive Education
Following a formal review of the academic quality of the programme’s curriculum and faculty, the Monetary Authority of Singapore (MAS) has announced that it has added the Executive MSc in Risk and Investment Management offered by EDHEC-Risk Institute to the list of approved programmes under the Finance Scholarship Programme (FSP). More...
24/02/10

Asset Management Education
In an effort to better serve the investment management community in the Asia-Pacific region, CFA Institute and EDHEC-Risk Institute have reinforced their executive education partnership to offer their Advances in Asset Allocation seminar in Singapore. More...
23/02/10

Asset Management Education
Since 2008, EDHEC-Risk Institute has been offering a unique PhD in Finance programme to elite practitioners who aspire to higher intellectual levels and aim to redefine the investment banking and asset management industries. More...
19/02/10

Alternative Investment
For the forthcoming Alternative Asset Allocation Seminars in London and New York, EDHEC-Risk Institute and CFA Institute have confirmed a team of instructors with established reputations for bringing together academic expertise and industry experience. The Alternative Asset Allocation Seminar is an intensive three-day course that will impart advanced concepts and practical tools for optimal construction and risk management of multi-style multi-class portfolios. It will also enable participants to derive the full benefits of alternative investments for asset management and asset-liability management (ALM) while controlling for their specific risks. Upcoming seminars are taking place in London and New York at the middle and the end of March. More...
26/01/10

Partnerships
The Thomson Reuters Trading Room will be officially opened on the Nice campus of EDHEC Business School on 14 January, 2010. This new partnership between the EDHEC Group and Thomson Reuters will enable MSc students on the Financial Economics track to prepare the Reuters 3000 Xtra certification. More...
11/01/10

EDHEC-Risk
EDHEC-Risk Institute has announced that the official name for the holding entity governing its entire range of activities will henceforth be ‘EDHEC-Risk Institute’. Formerly called the ‘EDHEC Risk and Asset Management Research Centre’, EDHEC-Risk Institute was set up in 2001 to conduct world-class academic research and highlight its applications to the industry. More...
08/01/10

Business Analysis
As global warming, renewable energy, conservation and other environmental issues are getting increasing attention around the world, investment management increasingly takes into account the dimensions of sustainability and environmental responsibility. As part of academic research conducted by EDHEC-Risk Institute, we are seeking feedback on the motivations behind green investing and the processes in place at leading institutional investors today. More...
18/12/09

Alternative Investment
UCITS III has paved the way for packaging hedge fund strategies as UCITS funds and for distributing them in these funds. The controversy surrounding the European Directive on alternative investment fund managers, as well as the recent financial crisis, may even have encouraged packaging hedge fund strategies as sophisticated UCITS. EDHEC-Risk Institute would like to invite you to comment on this trend in a new survey. More...
18/12/09

Appointments
EDHEC Business School and EDHEC-Risk Institute are pleased to announce the appointment of Dr. Bernd Scherer as Professor of Finance with EDHEC Business School and member of EDHEC-Risk Institute. A specialist in asset valuation, portfolio construction, asset allocation, and asset liability modelling, Professor Scherer will take up his appointment in January 2010 and will be actively involved in the research carried out within EDHEC-Risk Institute. More...
17/12/09

Asset Management Education
Since 2008, EDHEC-Risk Institute has been offering a unique PhD in Finance programme to elite practitioners who aspire to higher intellectual levels and aim to redefine the investment banking and asset management industries. Drawing its faculty from the world’s best universities and enjoying the support of a leader in applied financial research, the EDHEC-Risk Institute PhD in Finance creates an extraordinary platform for professional development and industry innovation. More...
26/11/09

Asset Management Education
Since its creation, the EDHEC-Risk Institute PhD in Finance has been one of the approved programmes under the Doctorate Scholarship Programme (DSP) administered by the Monetary Authority of Singapore. The DSP is part of a series of initiatives taken by Singapore authorities to develop a critical mass of skills in areas such as risk management, financial engineering and economics. More...
26/11/09

Asset Management Education
Following the success of the inaugural CFA Institute/EDHEC-Risk Institute Alternative Asset Allocation seminar held in London earlier this year, two new sessions of the seminar are being organised in London on 16–18 March, 2010 and in New York on 30 March–1 April, 2010. This intensive three-day course aims to impart advanced concepts and practical tools for optimal construction and risk management of multi-style multi-class portfolios. It is designed to enable participants to derive the full benefits of alternative investments for asset management and asset-liability management (ALM) while controlling for their specific risks. More...
24/11/09

Asset Management Education
EDHEC-Risk Institute is extending its successful PhD in Finance programme to Asia where it will be offered from Singapore. Drawing its faculty from the world’s best universities, the EDHEC-Risk Institute PhD in Finance is a three-year programme helping outstanding individuals develop the scientific background and skills required to conduct research that will yield original insights and lead to innovative approaches and offerings. The programme’s unique delivery format allows the participation of both recent university graduates – who join EDHEC-Risk Institute to work as research assistants – and seasoned practitioners – who keep their full-time jobs. Currently delivered from Europe only, the programme brings together thirty-three participants from twenty-six countries on the five continents. Its seasoned participants have an average of sixteen years of professional experience and reside in Europe (46%), Asia (29%), and North America (25%). More...
23/10/09

Appointments
EDHEC-Risk is pleased to announce the appointment of Mr. Philippe Marchessaux to its international advisory board. Mr. Marchessaux was appointed Head of BNP Paribas Investment Partners and CEO of BNP Paribas Asset Management in July 2009. Prior to that, he was appointed Deputy CEO of BNP Paribas Investment Partners in February 2009, and has been a member of BNP Paribas Investment Partners' executive committee since 2004. Mr. Marchessaux joined BNP Paribas in 1987 and has over 20 years experience working across BNP Paribas' asset management businesses. More...
22/10/09

Appointments
EDHEC Business School is pleased to announce the appointment of two associate professors of finance, Mr. Sergio Focardi and Mr. Laurent Deville. More...
28/09/09

Sovereign Wealth Funds
Within the framework of the Asia/MidEast Government Funds Roundtable held in Singapore on November 18-19, 2009, Institutional Investor and EDHEC-Risk will be co-organising a Risk Management seminar conducted by Professor Lionel Martellini, Scientific Director of EDHEC-Risk. The half-day seminar is entitled "Optimal Risk Management for Sovereign Wealth Funds and Other Long-Term Investors" and will draw upon EDHEC-Risk’s most recent research. More...
23/09/09

Asset Management Education
Following the success met by previous editions of the Advances in Asset Allocation Seminar in Europe and the United States, where the event attracted over 150 practitioners from 24 different countries, CFA Institute and EDHEC-Risk Institute have decided to renew their partnership for the third consecutive year and to expand the seminar to Asia, with a new session taking place in Singapore. The intensive three-day course has been designed to provide participants with an in-depth appreciation of the concepts and techniques that will shape the future of investment management and to equip them with practical tools to improve asset allocation and risk management processes, implement novel investment management approaches, and develop new products. More...
21/09/09

Asset Management Education
Since October 2008, EDHEC Business School and the EDHEC Risk and Asset Management Research Centre have been offering a unique PhD in Finance programme. The programme is offered in two tracks: a "residential track" for high-potential graduate students who will hold part-time research or teaching positions at EDHEC Business School, and an "executive track" for high-level practitioners who will keep their full-time jobs. Following the spring and summer information sessions held in Paris, Geneva and Zurich, the next information sessions will be held at the following locations: London, 29 September - ANdAZ Hotel - 6:30pm BST; Webconference, 22 October – 2:30pm CET, 8:30am EST, 9:30pm UTC+8; New York, 26 October - Grand Hyatt Hotel - 6:30pm EST; Chicago, 28 October - venue to be confirmed - 6:30pm CDT; Singapore, 19 November - venue to be confirmed - 6.30pm UTC+8; Hong Kong, 16 November - time and venue to be confirmed. More...
16/09/09

Alternative Investments
Over the past six years, the EDHEC-Risk Alternative Investment Days have become the alternative investment conference of reference for institutional investors, single managers and funds of funds. On February 8-9, 2010, the event will be returning to The Brewery, one of London’s leading event and conference locations. The EDHEC-Risk Alternative Investment Days include two conferences and a roundtable, which will be genuinely significant events for alternative investment professionals. More...
07/07/09

Asset-Liability Management
With the European Pension Fund ALM Practices Survey, EDHEC, with the backing of AXA Investment Managers, is conducting a major survey of European institutional investors and asset managers. Like previous EDHEC surveys of industry practices, this survey will attempt to assess the use of modern investment management techniques by pension funds. However, its focus is on ALM. The survey will assess how European pension funds define their investment policy, how they implement it, and how the performance of the investment policy is analysed. More...
03/07/09

Recruitment
EDHEC Business School, one of France's top 4 Grandes Ecoles and Europe's top 10 Master in Management programmes, will be holding its 2009 Finance Recruitment Fair on Friday, September 25th on its campus in Nice. The aim of the fair is to enable a select group of employers, who value a diverse, talented and international workforce, to promote employment and internship opportunities among EDHEC's Master's, MSc and Theseus MBA graduates from France and abroad. This English speaking event is an excellent opportunity to select high profile, multilingual and geographically mobile graduates from EDHEC's specialised programmes in Finance, Risk & Asset Management, Corporate Finance, Capital Markets & Management Control. More...
22/06/09

Alternative Investment Education
EDHEC Asset Management Education, as Authorised CAIA Preparatory Program Provider since 2004, is organising its next review course for the September 2009 session of the CAIA SM Level II exam in Paris on July 1-3. Designed and delivered by experienced academics and practitioners, the review course consists of three days of intensive instruction. The seminar is prepared specifically for the September 2009 exam session and covers all key learning objectives in the curriculum using lectures, concept applications, and practice exam questions. The course emphasises problem areas and provides insight and exam strategies to maximise preparation. Additional workshops give participants the opportunity to interact one-on-one with the instructors to address specific content questions. More...
26/05/09

Institutional Investment
In 2003, the pension fund industry was severely affected by the steep fall in equity prices and the fall in interest rates. This fall and its consequences led to broad regulatory changes and spurred work on asset and liability management theory and techniques. But it seems that these new regulations and techniques have not enabled the pension fund industry to weather the current return of the perfect storm? It is this question that research currently being undertaken at EDHEC Business School is endeavouring to answer, with feedback from industry professionals. More...
14/05/09

Appointments
The EDHEC Risk and Asset Management Research Centre is delighted to announce the appointment of two new members to its international advisory board: Mr. Nicolas Sobczak, Chief Investment Officer of the Fonds de Réserve pour les Retraites (FRR), the French Pension Reserve Fund, and Mr. Ton van Welie, Chief Executive Officer of ORTEC Finance. The 35 members of the EDHEC Risk and Asset Management Research Centre international advisory board, which brings together high-level representatives from regulatory bodies, leading pension funds, professional organisations and business partners, are responsible for validating the relevance and goals of the research programme proposals presented by the centre's management and for evaluating research outcomes with respect to their potential impact on industry practices. More...
24/04/09

Appointments
The EDHEC Risk and Asset Management Research Centre is delighted to announce the appointment of Mr. Nicolas Sobczak, Chief Investment Officer of the Fonds de Réserve pour les Retraites (FRR), the French Pension Reserve Fund, to its international advisory board. The FRR is an institution dedicated to ensuring the long-term viability of the French pension system. Set up in the early 2000's, the FRR is a public agency, operating under the dual auspices of the French Minister in charge of Social Security and the French Minister in charge of the Economy and Budget. At December 31, 2008, total assets amounted to 27.7 billion euros. More...
23/04/09

Asset Management Education
Since October 2008, EDHEC Business School and the EDHEC Risk and Asset Management Research Centre have been offering a unique PhD in Finance programme. The programme is offered in two tracks: a "residential track" for high-potential graduate students who will hold part-time research or teaching positions at EDHEC Business School, and an "executive track" for high-level practitioners who will keep their full-time jobs. Following the Autumn and Winter information sessions held in Frankfurt, Zurich, Milan, Paris, London, and Singapore, we invite you to attend one of our next information sessions which will be held at the following locations: New York, 12 May - Grand Hyatt Hotel - 6:30 EST; Paris, 16 June - Maison de la Chimie - 2:00 CET; Geneva, 17 June - Hotel President Wilson - 3:30 CET; Zurich, 18 June - Savoy Baur en Ville Hotel - 3:30 CET. More...
23/04/09

Indices & Benchmarking
The EDHEC Risk and Asset Management Research Centre and Crédit Agricole Structured Asset Management (CASAM) have announced the creation of new research chair entitled "Core-Satellite and ETF Investment". The chair will involve three years of academic research into ETFs (exchange-traded funds) and the use of ETFs as part of a core-satellite approach to asset management. A CASAM/EDHEC advisory board will supervise the work. The team of researchers at the EDHEC Risk and Asset Management Research Centre, under the leadership of centre director Noël Amenc, will examine advanced forms of risk budgeting in a dynamic core-satellite approach and the use of these techniques by investors and asset managers. The first project as part of the chair will be the EDHEC ETF Survey 2009, an in-depth pan-European survey on the use of ETFs by European investors. The findings of this survey will be presented at the third ETF and Indexation Summit at EDHEC Institutional Days, to be held in Paris (CNIT La Défense) on 26 and 27 May 2009. More...
16/04/09

Awards
The EDHEC Risk and Asset Management Research Centre, Robeco and the Journal of Portfolio Management have jointly launched an annual award for the paper published in the Journal of Portfolio Management in the previous year that is deemed to be of most relevance and usefulness for European institutional investors. The inaugural award will be presented by Dr. Jean-Louis Laurens, Chief Investment Officer of the Robeco group, to Dr. Laurence Siegel, Director of Research within the Investment Division of the Ford Foundation, at a ceremony in Paris on May 26 as part of the EDHEC Institutional Days 2009. The award-winning article entitled "Alternatives and Liquidity: Will Spending and Capital Calls Eat Your 'Modern' Portfolio?" (Journal of Portfolio Management, Fall 2008) shows how high allocation to alternative investments can cause liquidity concerns when a plan has to meet spending requirements, capital calls, and margin calls in bear markets. More...
16/04/09

Academic Research
The sixth edition of the Madrid Finance Workshop took place on March 27, 2009, at IE Business School. The workshop is a joint initiative by four Madrid based academic institutions: IESE Business School (Universidad de Navarra), IE Business School, Universidad Carlos III and the Centro de Estudios Monetarios y Financieros (CEMFI). Each workshop is organised on a particular topic and four prominent experts in the field are invited to present a paper which is discussed by a local scholar. At the sixth workshop in the series that was dedicated to "Asset Pricing and Portfolio Management", Lionel Martellini, Professor of Finance and Scientific Director of the EDHEC Risk and Asset Management Research Centre, and René Garcia, Professor of Finance at EDHEC Business School, each presented their work. Lionel Martellini presented a paper entitled "How Costly is Regulatory Short-Termism for Defined-Benefit Pension Funds?" co-authored with Vincent Milhau, research engineer at the EDHEC Risk and Asset Management Research Centre. This research has benefited from the support of BNP Paribas Investment Partners. Professor René Garcia presented a paper entitled "Empirical Likelihood Estimators for Stochastic Discount Factors" co-authored with Professor Caio Almeida of Fundação Getúlio Vargas. More...
16/04/09

Institutional Investment
On April 22, 2009 in London, as part of the EDHEC/AXA Investment Managers research chair on Regulation and Institutional Investment, the EDHEC Risk and Asset Management Research Centre is organising a special press presentation of its major new study which analyses the impact of prudential and accounting constraints on the asset-liability management (ALM) of European pension funds in the Netherlands, the United Kingdom, Germany, and Switzerland. At the event, which will be introduced by Martin Hall, Head of AXA Investment Managers, United Kingdom and Nordics, Samuel Sender, Applied Research Manager at the EDHEC Risk and Asset Management Research Centre, will highlight three main challenges for pension funds, and the means by which these challenges can be met. Erwan Boscher, Head of Pension Solutions, AXA Investment Managers, will also be discussing the consequences of pension fund regulation for investors. More...
16/04/09

Commodities
Hilary Till, Principal, Premia Capital Management, LLC, and Research Associate at the EDHEC Risk and Asset Management Research Centre was invited to take part in a panel discussion on oil price formation organised by the International Energy Agency at their headquarters in Paris on 25 March, as part of the Joint Meeting of the Standing Group on Emergency Questions and the Standing Group on the Oil Market. During her presentation, Ms. Till discussed the conclusions of a recent EDHEC position paper entitled, "Oil Prices: The True Role of Speculation". More...
15/04/09

Appointments
The EDHEC Risk and Asset Management Research Centre is pleased to announce the appointment of Mr. Ton van Welie, Chief Executive Officer of ORTEC Finance, to its international advisory board. As CEO of ORTEC Finance since 2006, Mr. van Welie oversees the daily operations of the leading, global provider of solutions for holistic risk/return management for pension funds, insurance companies, asset managers and real estate managers. The 35 members of the board, which brings together high-level representatives from regulatory bodies, leading pension funds, professional organisations and business partners, are responsible for validating the relevance and goals of the research programme proposals presented by the centre's management and for evaluating research outcomes with respect to their potential impact on industry practices. More...
15/04/09

Asset Management Education
Professors Harrison Hong (Princeton University), Pietro Veronesi (University of Chicago Booth School of Business), and Pierre Collin-Dufresne (Columbia Business School) have joined the affiliate faculty of the EDHEC PhD in Finance programme. All three are specialists in asset pricing. Professor Hong is also specialised in behavioural finance, Professor Veronesi in Bayesian inference, and equilibrium models of return predictability, and Professor Collin-Dufresne is an expert in fixed income securities and default risk. Their arrival further strengthens an exceptional team of international scholars, bringing together EDHEC Business School's senior economics and finance scholars and affiliate professors from foremost research institutions around the world. More...
24/03/09

Appointments
The EDHEC Risk and Asset Management Research Centre is pleased to welcome a new member to its International Advisory Board: Mr. Yassine Bouhara, Global Head of Structuring and Head of Global Markets for Europe, the Middle East and Africa, Deutsche Bank. The 34 members of the board, which brings together high-level representatives from regulatory bodies, leading pension funds, professional organisations and business partners, are responsible for validating the relevance and goals of the research programme proposals presented by the centre's management and for evaluating research outcomes with respect to their potential impact on industry practices. The board also advises on the objectives and contents of projects deriving from the expertise of the research centre thereby ensuring that graduate and executive programmes remain at the forefront of developments in the marketplace. More...
23/03/09

ALM
The research results from the first of the three-year EDHEC/ORTEC Finance "Private ALM" research chair will be presented in Switzerland in June. The presentation, entitled ALM - the Future of Private Wealth Management will be taking place in Geneva on 17 June, 2009 at the President Wilson Hotel, and on 18 June at the Savoy Baur en Ville Hotel in Zurich, from 17:00 to 19:30. Sinikka Demaré, Managing Director for Switzerland, Member of the Advisory Board, ORTEC Finance, and Lionel Martellini, PhD, Professor of Finance, EDHEC Business School, and Scientific Director of the EDHEC Risk and Asset Management Research Centre will be introducing the research chair and discussing the future of private wealth management. More...
20/03/09

Appointments
Barry Schachter has joined the EDHEC Risk and Asset Management Research Centre as Research Associate. He is Director of Quantitative Resources at Moore Capital Management where he is responsible for the Risk, Financial Engineering, and Trade Analysis and Control teams. Prior to that, he held several senior risk management positions at Balyasny Asset Management, SAC Capital Advisors, Caxton Associates, and the Chase Manhattan Bank, among others. More...
17/03/09

Asset Management Education
François Serge Lhabitant, Associate Professor at EDHEC Business School and CIO of Kedge Capital will discuss operational risk management techniques at the upcoming CFA Institute/EDHEC Business School Alternative Asset Allocation Seminar on March 17-19 in London. More...
24/02/09

Asset Management Education
The EDHEC Risk and Asset Management Research Centre and CFA Institute will be organising the first North American session of their Advances in Asset Allocation Seminar at The Grand Hyatt in New York on 12-14 May, 2009. This intensive three-day course will provide participants with an in-depth appreciation of the concepts and techniques that will shape the future of investment management as well as equip them with practical tools to improve asset allocation processes, implement novel investment management approaches, and develop new products. More...
24/02/09

Academic Research
EDHEC Finance Professor Florencio Lopez de Silanes delivered one of the keynote speeches at the 21st annual Australasian Finance and Banking Conference, which was held on December 16-18 in Sydney. Organised by the Australian School of Business (UNSW), this event is one of the most prestigious finance conferences in the Asia-Pacific region. Professor Lopez de Silanes also served as member of the conference's selection committee. Conference proceedings are available on SSRN and the best contributions will published in a review volume by World Scientific Publishing. More...
19/02/09

Academic Research
The 69th meeting of the American Finance Association, publisher of the Journal of Finance, was held on January 3-5, 2009, with Professor Darrell Duffie of Stanford University acting as the programme chair. EDHEC Business School was represented by Finance Professors René Garcia and Florencio Lopez de Silanes. At the meeting, René Garcia presented a paper entitled "Empirical Likelihood Estimators for Stochastic Discount Factors", co-authored with Professor Caio Almeida of the Getúlio Vargas Foundation. Florencio Lopez de Silanes presented a paper entitled "Looking inside a Conglomerate: Efficiency of Internal Capital Allocation and Managerial Power within a Firm", co-authored with Professor Markus Glaser of the University of Mannheim and Professor Zacharias Sautner of the University of Amsterdam. More...
19/02/09

Sovereign Wealth Management
The initial conclusions from the EDHEC/Deutsche Bank Research Chair on Asset-Liability Management for Sovereign Wealth Funds will be presented to the press in London on 26 February, 2009. At the press conference, the theme of which will be "What Financial Management for Sovereign Wealth Funds?", Yassine Bouahara, Global Head of Structuring and Head of Global Markets for Europe, the Middle East and Africa, Deutsche Bank, Jean-René Giraud, Research Associate and Director of Development, EDHEC Risk and Asset Management Research Centre, and Noël Amenc, Professor of Finance, EDHEC Business School and Director of the EDHEC Risk and Asset Management Research Centre, will discuss the preliminiary results of the research chair with journalists. More...
19/02/09

Education
High-calibre students from EDHEC's four finance-based Master of Science programmes (Finance, Risk and Asset Management, Corporate Finance and Capital Markets) will be available for full-time employment, or post-study internships, in financial institutions, consultancies and industry from July 2009 onwards. More...
05/02/09

Indices
The EDHEC Risk and Asset Management Research Centre and the IEIF (an independent French real estate research institute), with the support of Finance Innovation, the global competitiveness institution, have announced the launch of the EDHEC IEIF Commercial Property Index (France). The EDHEC IEIF Commercial Property Index (France) will measure the performance of shares traded in an aggregate portfolio of unlisted property funds. This portfolio currently represents €7.5bn, spread between 3,400 assets. The EDHEC IEIF Commercial Property Index (France) is a capitalisation weighted index that measures the performance of SCPIs (unlisted property trusts), collective investment companies that invest in commercial property (offices, shopping centres, logistics infrastructures, and so on). The index is computed on a net (change in the prices of components) and gross performance with dividends reinvested) basis. The base date for the index is 31 December 1980. The EDHEC IEIF Commercial Property (France) index is published monthly. The composition of the index is reviewed at the close of every semester by an index committee made up of property and financial analysts, property managers, well known academics, and representatives of IEIF and EDHEC. The UFG Group, through its patronage of academic and scientific research, contributed to the launch of the index. More...
30/01/09

Awards
The EDHEC Risk and Asset Management Research Centre, Robeco and the Journal of Portfolio Management have come together to launch an annual award for the paper published in the Journal of Portfolio Management in the previous year that is deemed to be of most relevance and usefulness for European institutional investors. The principle behind the selection will be to choose the paper that best reflects the spirit of the EDHEC Risk and Asset Management Research Centre, namely academic excellence and industry relevance, notably for institutional investors. More...
30/01/09

Alternative Investments
Noël Amenc, Professor of Finance at EDHEC Business School and Director of the EDHEC Risk and Asset Management Research Centre, and Jean-René Giraud, Director of Development, have been invited to chair a session on hedge fund risk management and investor relations at the European Commission's conference on hedge funds to be held in Brussels on 27 February, 2009. The session will bring together high-level experts from industry, supervisors, and investor representatives. The panel session, entitled "Management of micro-prudential risks & transparency towards investors", will seek to take stock of the performance of hedge funds in managing the risks to which they are exposed, robustness of structural, governance and risk-management safeguards employed by the industry, and investor-facing issues (transparency, and management of redemption requests). This conference has been organised by the European Commission in the context of evolving European policy debate on hedge funds. The event aims to bring together leading authorities from all stakeholder groups to discuss a range of issues relating to the eventual form of an appropriate EU level response to systemic impacts of hedge funds and risk-management/investor-facing issues. More...
22/01/09

Asset Management Education
Since October 2008, EDHEC Business School and the EDHEC Risk and Asset Management Research Centre have been offering a unique PhD in Finance programme to elite practitioners who aspire to higher intellectual levels and aim to redefine the investment banking and asset management industries. The programme is offered in two tracks: a "residential track" for high-potential graduate students who will hold part-time research or teaching positions at EDHEC Business School, and an "executive track" for high-level practitioners who will keep their full-time jobs. We invite you to attend our Singapore information session which will be held on February 5th between 6:30pm and 8:00pm at the Raffles Hotel. The information session will be conducted by René Garcia, Professor of Finance at EDHEC Business School and Academic Director of the EDHEC PhD in Finance. More...
22/01/09

Alternative Investments
Jointly organised by CFA Institute and the EDHEC Risk and Asset Management Research Centre and CFA Institute, the first Alternative Asset Allocation Seminar (London, 17-19 March) will address the current challenges faced by the industry and present new tools and strategies allowing institutional investors to derive the full benefits of alternative investments while controlling for their specific risks. More...
22/01/09

Alternative Investments
Lionel Martellini, Scientific Director of the EDHEC Risk and Asset Management Research Centre, will be participating in a conference on Inflation-Indexed Securities and Inflation Risk Management at the Federal Reserve Bank of New York on 10 February, 2009, where he will be presenting a paper entitled, "Inflation-Hedging Properties of Real Assets and Implications for Asset-Liability Management Decisions", co-authored with Noël Amenc, Director of the EDHEC Risk and Asset Management Research Centre, and Volker Ziemann, Senior Research Engineer. This paper was sponsored by Morgan Stanley Investment Management as part of the EDHEC-Morgan Stanley Investment Management "Financial Engineering and Global Alternative Portfolios for Institutional Investors" research chair. The conference will bring together experts in inflation pricing and hedging, inflation-indexed issuer asset-liability management, and macroeconomics. Participants will include leading academics, current and former Federal Reserve and Treasury officials, and practitioners. More...
22/01/09

Performance
Investment & Pensions Europe (IPE) and the EDHEC Risk and Asset Management Research Centre will be presenting the second edition of the IPE-EDHEC Institutional Asset Management Awards (IAMAs) in 2008. The awards will be presented to winning asset managers at a gala dinner on May 26 in Paris during the EDHEC Institutional Days. If your asset management firm operates in a minimum of three European countries and you have not received an official request for information, please contact EuroPerformance. More...
20/01/09

Awards
Dr. Florencio Lopez de Silanes, finance professor at EDHEC Business School and head of the regulation and mutual fund governance research programme at the EDHEC Risk and Asset Management Research Centre, was appointed Knight of the National Order of the Legion of Honour by decree of the French Republic on 31 December 2008. Professor Lopez de Silanes' research interests revolve around corporate governance, international corporate finance, market finance, the competitiveness of legal systems, and privatisation. He has advised governments, international organisations, and businesses on these issues. His work has appeared in the major international financial and economics journals, and he is the second most cited professor in the world in the fields of economics and business according to the 2008 edition of the ScienceWatch rankings of management and economics professors. More...
13/01/09

Finance and Economics
On 14 January, 2009 in Paris, EDHEC will be hosting a presentation and debate on the current financial crisis. Noël Amenc, professor of finance at EDHEC Business School and director of the EDHEC Risk and Asset Management Research Centre, will be presenting EDHEC's analysis and proposals at a breakfast meeting (in French). More...
16/12/08

Regulation
We are canvassing opinions on a recent EDHEC position paper, "Banking: Why Does Regulation Alone Not Suffice? Why Must Governments Intervene?" and have formulated a short questionnaire with five questions. In the paper, Samuel Sender, Applied Research Manager with the EDHEC Risk and Asset Management Research Centre proposed a solution to the procyclical nature of prudential regulations that would involve the use of buffers - an amount of regulatory capital that would vary over the business cycle and could eventually disappear provided it is recovered over the medium term. More...
25/11/08

Commodities
The next State-of-the-Art Commodities Investing Seminar organised by EDHEC Asset Management Education, and delivered by Joëlle Miffre, Professor of Finance at EDHEC Business School, and Hilary Till, a principal of Premia Risk Consultancy, and a research associate with EDHEC, will be held in London on 21-22 April, 2009. This intensive seminar provides a comprehensive overview of natural resources markets, a thorough understanding of the importance of commodities as an asset class, and the state-of-the-art techniques for designing futures programmes and implementing institutional commodity investments. The first day will explore commodities as an asset class and examine the fundamentals of commodities investing, while the second day will look at designing and implementing commodity programmes. More...
21/11/08

Asset Allocation
The EDHEC Risk and Asset Management Research Centre and CFA Institute will be organising their inaugural Alternative Asset Allocation Seminar at The Dorchester in London on 17-19 March, 2009. This intensive three-day course will impart advanced concepts and practical tools for optimal construction and risk management of multi-style multi-class portfolios. The objective is it to enable participants to derive the full benefits of alternative investments for asset management and asset-liability management (ALM) while controlling for their specific risks. The first day of the seminar will introduce the state-of-the-art in multi-style multi-class portfolio management. The second day will examine novel financial engineering techniques to optimise risk budgeting when alternative assets are added to institutional portfolios, and the final day will explore new frontiers in alternative investments. Aimed at investment management professionals who advise on or participate in the design and implementation of aset allocation and risk management policies, and at sell-side practitioners who develop new asset management and ALM solutions for investors, the seminar combines exploration of innovative models and concepts, presentation of state-of-the-art practical tools, and case studies of best industry practices, delivered by a team of instructors bringing together academic and industry expertise. More...
21/11/08

Institutional Investment
Noël Amenc, Professor of Finance at EDHEC Business School, and Director of the EDHEC Risk and Asset Management Research Centre has been invited by AF2i, the French association of institutional investors, to make a presentation on the theme: "Financial or regulatory crisis? What initial lessons can be drawn from the crisis in terms of accounting and solvency regulations?" at a meeting organised in Paris on 13 November, 2008. More...
06/11/08

Appointments
The EDHEC Risk and Asset Management Research Centre is pleased to announce the appointment of two new members to its International Advisory Board: Mr. Jaap Maassen, Member of the Executive Board and Chief Pension Officer, ABP Investments; and Mr. Ton van Welie, Chief Executive Officer, ORTEC Finance. The 35 members of the board, which brings together high-level representatives from regulatory bodies, leading pension funds, professional organisations and business partners, are responsible for validating the relevance and goals of the research programme proposals presented by the centre’s management and for evaluating research outcomes with respect to their potential impact on industry practices. The board also advises on the objectives and contents of projects deriving from the expertise of the research centre thereby ensuring that graduate and executive programmes remain at the forefront of developments in the marketplace. More...
06/11/08

Academic Research
On October 13, 2008, the International Accounting Standards Board made amendments to the IAS 39 and IFRS 7 accounting standards, notably allowing the reclassification of some financial assets that were initially accounted for at fair value through the profit and loss account. As a participant in the financial industry, we wish to have your opinion on this reform. More...
22/10/08

Performance
At the start of 2008, the EDHEC Risk and Asset Management Research Centre published a series of conclusions on the current performance measurement practices in the industry. If the industry wants to make sophisticated risk analysis an integral part of performance evaluation, an increased use of modern performance measurement techniques is clearly necessary. More...
21/10/08

Performance
On November 12th in Paris, Agefi, the leading newspaper for the financial community in France, will be holding its 2008 asset management awards ceremony. As in previous years, EDHEC, together with EuroPerformance, has been involved in producing the rankings for the Awards, which were established on the basis of the managers' ability to produce "alpha", or abnormal returns above and beyond the "normal" rewards due to the risks that the manager had taken. At the event, the awards attributed in the following categories will be presented:
  • French equities
  • Euro equities
  • European equities
  • North American equities
  • Japanese equities
  • Asian equities (excluding Japan)
  • International equities
  • Sectorial equities
  • Emerging market equities
  • Euro diversified
  • International diversified
More...
20/10/08

Alternative Investment Education
EDHEC Asset Management Education, as Authorised CAIA Preparatory Program Provider, is organising the following review courses for the March sessions of the CAIA SM exam:
  • Level I
    Paris: January 14-16, 2009
    London: January 20-22, 2009
  • Level II
    Paris: January 13-15, 2009
    London: February 3-5, 2009
Designed and delivered by experienced academics and practitioners, EDHEC's review courses consist of three days of intensive instruction. Each seminar is prepared specifically for a given level and exam session and covers all key learning objectives in the curriculum using lectures, concept applications, and practice exam questions. Courses emphasise problem areas and provide insight and exam strategies to maximise preparation. Additional workshops give participants the opportunity to interact one-on-one with the instructors to address specific content questions.
More...
15/10/08

Asset Management Education
Chosen from among nearly 100 applicants for the inaugural class of the programme, seventeen doctoral students from fourteen countries began their coursework on EDHEC Business School’s Nice campus this week. Led by an exceptional team of instructors and dissertation directors, this select group of recent university graduates and experienced professionals will spend three years in a demanding doctoral programme. The EDHEC PhD in Finance prepares doctoral students for academic careers in top institutions and for the highest responsibilities in the finance industry; during the three years of the programme, PhD candidates will acquire the knowledge and the tools to conduct research that will lead to veritable innovation in finance. The programme relies on a faculty of specialists in economics and finance that brings together top researchers at EDHEC and affiliate professor from such renowned universities as the University of Chicago, Wharton, Columbia, Princeton, and Duke. With its residential and executive tracks, its organisation into consolidated weeks, and its e-learning tools, the EDHEC PhD in Finance is designed both for recent university graduates and for established professionals. More...
15/10/08

Performance
EDHEC and EuroPerformance have released their annual rankings of the top UK asset management companies: the Alpha League Table. The Alpha League Table is constructed on the basis of a genuine measure of alpha, using a state-of-the-art methodology developed by EDHEC. The year’s results are better than last year’s: average alpha increased (approximately 30 basis points) to 2.9% and the average frequency of alpha is 52.2%; whereas it was 46.3% last year. The winner of the 2008 edition is Jupiter, which was ranked second last year. With its average alpha of 4.23% and the frequency with which alpha is delivered coming to 73.75%, the firm posts an impressive performance. More...
13/10/08

EDHEC-Risk
On 3rd October, 2008, the international advisory board of the EDHEC Risk and Asset Management Research Centre held its fourth annual meeting in Beaulieu sur Mer (France). The objective of the meeting is to enable the members of the board to validate the relevance and goals of the research programme proposals presented by the centre’s management and to evaluate research outcomes with respect to their potential impact on industry practices. The 35 members of the board also advise on the objectives and contents of projects deriving from the expertise of the research centre, thereby ensuring that graduate and executive programmes remain at the forefront of developments in the marketplace. Several of the board members also took advantage of the opportunity to participate in the centre's annual research meeting organised for its permanent researchers and research associates the previous day, in order to examine EDHEC's research in greater detail. More...
03/10/08

Appointments
Xavier Lépine, Chairman of UFG Group, has recently joined the EDHEC Risk and Asset Management Research Centre’s International Advisory Board, bringing the number of members to 35. The board brings together high-level representatives from regulatory bodies, leading pension funds, professional organisations and business partners to validate the relevance and goals of the research programme proposals presented by the centre’s management and to evaluate research outcomes with respect to their potential impact on industry practices. More...
26/09/08

Appointments
Mr. Johan van der Ende, Chief Investment Officer of PGGM has joined the International Advisory Board of the EDHEC Risk and Asset Management Research Centre which brings together high-level representatives from regulatory bodies, leading pension funds, professional organisations and business partners. The role of the international advisory board is to validate the relevance and goals of the research programme proposals presented by the centre’s management and to evaluate research outcomes with respect to their potential impact on industry practices. The 34 members of the board also advise on the objectives and contents of projects deriving from the expertise of the research centre, thereby ensuring that graduate and executive programmes remain at the forefront of developments in the marketplace. More...
23/09/08

Asset Allocation
CFA Institute and the EDHEC Risk and Asset Management Research Centre have extended their partnership in executive education events to include a bi-annual seminar in Advances in Asset Allocation. The Advances in Asset Allocation Seminar series present the latest research advances in asset allocation and clarify the distinction between mere innovation and true marketing claims in emerging industry trends. Seminars will now be held in both London and New York. The next session will be taking place on 17-19 November, 2008 at The Dorchester, London. More...
23/09/08

Institutional Investment
Following the success of the EDHEC Institutional Days 2008, which attracted more than 1,200 delegates in June in Paris, making it the largest conference in Europe for institutional investment management, the EDHEC Risk and Asset Management Research Centre intends to build on this success in 2009 by presenting a programme with significant added value in terms of both research and business. More...
23/09/08

ALM and Asset Management
The EDHEC Risk and Asset Management Research Centre and ORTEC Finance have announced the creation of a new research chair in Private ALM focused on understanding the application of Asset-Liability Management (ALM) methodology in Private Wealth Management (PWM). The research chair is a three-year research programme piloted by a joint ORTEC Finance/EDHEC committee. First-year research will focus on the superiority of the ALM approach in private wealth management (PWM), with special attention being given to the Life Cycle asset allocation developed in the academic literature over the past decade. More...
22/09/08

Governance
Dr. Florencio Lopez de Silanes, Professor of Finance at EDHEC Business School, will be the guest speaker at the Finance research seminar of HSE and Hanken on Monday 22 September, 2008, where he will be speaking on the theme, "Transparency of political funding, accountability, and corruption". At the research seminar, Dr. Lopez de Silanes will be presenting his paper, "Transparency and accountability" on international differences in the financial disclosure rules for politicians and their effects on policy making and corruption. More...
19/09/08

Corporate Governance
Dr. Florencio Lopez de Silanes, Professor of Finance at EDHEC Business School, will be one of the keynote speakers at the annual Australasian Finance and Banking Conference to be held at the Shangri-La Hotel in Sydney from Tuesday, 16 December to Thursday 18 December, 2008. The event, organised by the School of Banking and Finance at the Australian School of Business, is the most prestigious finance conference in the Asia-Pacific region, and brings together the world's foremost leaders of thought from the financial community. Dr. Lopez de Silanes is also a member of the selection committee which will be selecting the papers submitted by academics and practitioners to be published in a review volume by the World Scientific Publishing Co Ltd. There will be a number of special issues of journals and prizes for presented papers. More...
19/09/08

Credit Risk
Dominic O’Kane, affiliated Professor of Finance at EDHEC Business School has released a new book entitled “Modelling Single-Name and Multi-Name Credit Derivatives”. Published by Wiley, this book presents an up-to-date, comprehensive, accessible and practical guide to the models used to price and risk-manage credit derivatives. It is both a detailed introduction to credit derivative modelling and a reference for those who are already practitioners. More...
05/09/08

Alternative Investments
The EDHEC Risk and Asset Management Research Centre will be staging the fourth edition of the EDHEC Alternative Investment Days at the ExCeL Centre in London on December 9 and 10 next. The conference aims to present the applied research conducted by the EDHEC Risk and Asset Management Research Centre with leading pension fund managers and to discuss its results with the institutional investor and fund manager communities. More...
23/07/08

Asset Management Education
Due to the extent of the response from the market and an accumulation of requests to start the programme early, EDHEC Business School will be opening the executive track of its PhD in Finance one year earlier than anticipated. Applications for September 2008 executive track admissions will be considered until July 15. More...
25/06/08

Asset Management
As part of a partnership between the EDHEC Risk and Asset Management Research Centre and Investment Management Review, we are very pleased to enclose a second complimentary copy of the magazine. More...
24/06/08

Alternative Investments
As part of a partnership between the EDHEC Risk and Asset Management Research Centre and the Journal of Alternative Investments, we are pleased to be able to offer our readers an exclusive preview of the contents of the Summer 2008 issue of this respected academic journal. More...
24/06/08

Performance
The first IPE-EDHEC Institutional Asset Management Awards (IAMAs) were presented at a gala ceremony in Paris on June 12 compered by French television personality Eglantine Eméyé. The ceremony took place during the EDHEC Institutional Days before an invited audience of investors, asset managers, investment banks and other industry advisers and suppliers. More...
24/06/08

Asset Management
The EDHEC European Investment Practices Survey 2008 provides an account of the current practices in the industry and contrasts these practices with the recent state of the art in investment literature. The results of the survey show that the industry does not fully exploit a number of proven portfolio optimisation techniques that research has made readily available, such as management of extreme risks, improved covariance estimation or Bayesian and resampling techniques in portfolio optimisation. More...
24/06/08

Academic Research
René Garcia and Florencio Lopez de Silanes, Professors of Finance at EDHEC Business School, have been invited by the Sociedade Brasileira de Finanças to present at the eighth Brazilian Finance Meeting on 31 July - 2 August, 2008. René Garcia will be speaking on 31 July on the subject "Empirical Likelihood and Stochastic Factor Discounts, and Florencio Lopez de Silanes will be discussing the topic "Law and Finance 10 Years Later". More...
27/05/08

Academic Research
This year, René Garcia has been invited to present the paper "Empirical Likelihood Estimators for Stochastic Discount Factors", co-authored with Caio Almeida to the American Finance Association (AFA) in San Francisco, the Econometric Society European Meeting in Milan in August, and the Northern Finance Association in Alberta (Canada) in September. More...
27/05/08

Academic Research
Florencio Lopez de Silanes, Professor of Finance at EDHEC Business School, has been named the number one European lecturer in Management and Economics. His work is widely acknowledged and is cited in scientific journals around the world. This ranking is a key indicator for the global academic community: www.sciencewatch.com. The ranking is drawn up by Thomson Reuters, based on an analysis of 11,000 international journals and 10 million articles, spanning a 10-year publication cycle. More...
27/05/08

Education
Two new Finance-based programmes and an innovative Accounting programme have been added to the EDHEC Business School’s already wide range of English taught Masters of Science (MSc) degrees. More...
21/05/08

Risk & Asset Management
The European Financial Management Association and EDHEC Business School jointly organised the European Financial Management 2008 Symposium on April 17 to 19 at the EDHEC Business School campus in Nice. More...
20/05/08

Alternative Investments
The Lhabitant & Martellini Hedge Fund Investing Seminar, conducted by François-Serge Lhabitant, PhD, Associate Professor of Finance at EDHEC Business School, and Lionel Martellini, PhD, Professor of Finance at EDHEC Business School and Scientific Director of the EDHEC Risk and Asset Management Research Centre, will be held at The Grand Hyatt in New York on 8-9 July, 2008. More...
23/04/08

Commodities
Hilary Till, research associate at the EDHEC Risk and Asset Management Research Centre, and co-founder and principal of Premia Capital Management, will be making a one-hour presentation on the topic of "Intelligent Commodity Investing", followed by a question and answer session, to CAIA Canada members at the Fairmont Royal York Hotel in Toronto on 12 May, 2008 at 5.00pm. More...
17/04/08

Appointments
Dr. Arjuna Sittampalam has joined the EDHEC Risk and Asset Management Research Centre as Research Associate. Dr. Sittampalam's experience encompasses the banking, insurance and specialist fund management fields, with a particular interest in derivatives and other innovative portfolio management techniques. Dr. Sittampalam is the Managing Director of investment company Sage & Hermes Ltd., which he founded in 1994 to advise leading financial institutions in the USA and Europe on investment management business strategy and operations. More...
28/03/08

Asset Management
The EDHEC Risk and Asset Management Research Centre is pleased to announce that it has entered into a partnership with Investment Management Review whereby three free electronic copies of the publication will be offered to readers of the EDHEC-Risk newsletter. More...
20/03/08

Awards
Daniel Mantilla, EDHEC MSc in Risk & Asset Management graduate, and research assistant with the EDHEC Risk and Asset Management Research Centre, has won the AFGAP/PRMIA prize, awarded by the French Association of Asset-Liability Managers and the Professional Risk Managers' International Association, in the 2008 edition of a national competition for the best thesis in economics and finance. More...
17/03/08

Performance
EDHEC and EuroPerformance have published their third annual rankings of French asset management management firms based on an accurate measure of risk-adjusted performance: the Alpha League Table. The Alpha League Table ranks asset management firms on their equity management and on their ability to deliver alpha. As with the earlier series, this new table will be distributed widely to asset management professionals throughout Europe. This year's results have revealed that both the frequency of alpha and the average alpha generated by French asset managers have fallen in comparison with 2007. The winner of the 2008 edition is HSBC Private Bank France with a score of 1.52%. MMA Finance, with a score of 1.43%, takes second place after improving from eighth position last year. The biggest jump in this year’s edition was from State Street Global Advisors France. The firm moved up sixteen places in the rankings to third. More...
17/03/08

Asset Management
Dr. Felix Goltz, Senior Research Engineer at the EDHEC Risk and Asset Management Research Centre and lead author of the recent EDHEC European Investment Practices Survey, has been invited to present the findings of the survey to the members of the UK CFA society at its annual conference on 18 June. More...
17/03/08

Performance
Investment & Pensions Europe (IPE) and EDHEC, France’s premier business school, are setting up the IPE-EDHEC Institutional Asset Management Awards (IAMAs) in 2008. The awards will be presented to winning asset managers at a gala reception on June 12 in Paris during the EDHEC Institutional Days. If your asset management firm operates in a minimum of three European countries and you have not received an official request for information, please contact EuroPerformance. More...
12/03/08

Institutional Investment
The EDHEC Risk and Asset Management Research Centre will be staging the second edition of the EDHEC Institutional Days in Paris on June 12 and 13, 2008. Over 1,200 delegates are expected to attend this latest event, which will feature more than 50 top speakers and panellists, including leading European institutional figures. The EDHEC Institutional Days are the most important initiative for delivering research results to finance professionals. More...
05/03/08

Institutional Investment
The EDHEC Risk and Asset Management Research Centre and Morgan Stanley Investment Management (MSIM) have announced the creation of a new research chair titled Financial Engineering and Global Alternative Portfolios for Institutional Investors. The research chair is a three-year research programme piloted by a joint MSIM/EDHEC committee. The EDHEC Risk and Asset Management Research Centre’s team, led by the centre’s scientific director, Lionel Martellini, will research new forms of welfare-improving financial innovation through the engineering of alternative solutions for institutional portfolios. The findings of this research will be presented at both MSIM’s Second Annual Alternatives Investment Conference (2ème Conférence Gestion Alternative) in Paris on 23 October and the EDHEC Alternative Investment Days at the ExCeL Conference Centre in London on 9 and 10 December 2008. More...
20/02/08

Private Banking
An EDHEC Risk and Asset Management Research Centre study entitled "Asset-Liability Management Decisions in Private Banking" argues that asset-liability management is the natural approach in high quality financial management for private banking clients. We are seeking to obtain the reactions to EDHEC's conclusions from a wide range of investors and asset managers. More...
15/02/08

Commodities
Hilary Till, Research Associate at the EDHEC Risk and Asset Management Research Centre and Principal, Premia Capital Management, LLC, made a presentation to the CAIA London Chapter on 23 January 2008 entitled, "Intelligent Commodity Investing: Opportunities and Challenges", in which she discussed the the demand for energy investments, portfolio construction and inadvertent concentration risk, macro portfolio protection, risky asset deleveraging and the Amaranth case. More...
23/01/08

Alternative Investments
The next edition of the Lhabitant Hedge Fund Seminar will be taking place on April 7, 2008, at The Dorchester in London. Conducted by François-Serge Lhabitant, Associate Professor of Finance at EDHEC Business School, Professor of Finance at the University of Lausanne and Chief Investment Officer at Kedge Capital, the Lhabitant Hedge Fund Seminar equips participants with a workable knowledge of the techniques essential for anyone investing in hedge funds or advising private and institutional clients on the inclusion of hedge funds in their portfolios. More...
22/01/08

Alternative Investments
The paper entitled, "EDHEC Comments on the Amaranth Case: Early Lessons from the Debacle", by Hilary Till, Research Associate with the EDHEC Risk and Asset Management Research Centre and Principal, Premia Capital Management, was cited in the Bank of Japan Paper Series of Risk Management in Financial Institutions, "Hedge Fund Investments: Risk Management Perspectives", dated December 2007, the English translation of the Japanese original released in July 2007. More...
08/01/08

Careers
Within the framework of its strategy of international excellence, EDHEC has developed a very active research policy in recent years which has led to the creation of research centres that are based on its faculty’s expertise. More...
20/12/07

Asset Allocation
CFA Institute and the EDHEC Risk and Asset Management Research Centre are introducing a new annual event that will present the latest research advances in asset allocation and clarify the distinction between true innovation and mere marketing claims in emerging industry trends. The Advances in Asset Allocation Seminar series will offer senior investment professionals a unique opportunity to gain an in-depth appreciation of the concepts and techniques that will shape the future of investment management. In addition, it will also provide practical tools and novel investment approaches to improve asset allocation processes and design new products. The seminar will take place 17-19 March in London and brings together EDHEC, the premier European centre for applied research into asset allocation, with the leading association of investment professionals, CFA Institute. More...
22/11/07

Performance
Leading European investment publication Investment & Pensions Europe has joined with EDHEC, France's premier business school, to introduce the IPE EDHEC Institutional Asset Management Awards in 2008. This is the first time that Europe's institutional asset management industry will have an Awards programme based on objective and transparent criteria. Up to 15 Awards will be presented to winning asset managers in June 2008 at the time of the EDHEC Institutional Days, before an invited audience of investors, asset managers, investment banks and other industry advisers and suppliers, at a gala dinner in Paris. More...
20/11/07

Performance Measurement
Noël Amenc, Professor of Finance at EDHEC Business School and Director of the EDHEC Risk and Asset Management Research Centre, and Véronique Le Sourd, Senior Research Engineer at the EDHEC Risk and Asset Management Research Centre, received one of four Honorable Mention Awards from The Journal of Performance Measurement as part of this year's Dietz Award for Excellence in Performance Measurement Literature, for their paper entitled, "A Critical Analysis of Fund Rating Systems, published in Volume 11 Nº. 4 of the journal. More...
12/11/07

Best Execution and Operational Performance
A working paper published by the International Montetary Fund (IMF) in October 2007 and entitled "The Markets in Financial Instruments Directive: Banking on Market and Supervisory Efficiency" by François Haas, refers to EDHEC's recent position paper on MiFID by Jean-René Giraud and Catherine D'Hondt: "MiFID: the (in)famous European Directive?". More...
06/11/07

Alternative Investments
The results of the third edition of the EDHEC French Funds of Hedge Funds rankings were published in the financial daily, La Tribune, on 6 November. More...
06/11/07

Institutional Investment
In 2008, EDHEC will be merging two of its most important conferences into a single event. The EDHEC Asset Management Days, which had been taking place in Geneva up until now, have been integrated into a new edition of the EDHEC Institutional Days, which will now be held every year in Paris in June. This new joint event will capitalise on the previous success of both events, with the most recent editions having attracted in total more than 1,500 institutional investors, asset managers and private bankers. By merging the two events, EDHEC’s intention is to establish in Paris the most important European conference for institutional investment management. More...
17/10/07

Alternative Investments
Lionel Martellini, Professor of Finance at EDHEC Business School and Scientific Director of the EDHEC Risk and Asset Management Research Centre, has been invited to conduct a Financial Engineering Practitioners Seminar at Columbia University on the topic of Hedge Fund Replication, on 15 October. More...
15/10/07

Appointments
Dr. Michel Verlaine has been appointed Business Analysis Director at the EDHEC Risk and Asset Management Research Centre. Prior to joining EDHEC, Dr. Verlaine worked for several financial and public institutions, including Ernst & Young’s Risk Advisory Services, the Ministry of Economics in Luxembourg and the Caisse des Dépôts et Consignations. More...
11/10/07

Appointments
Dr. Dominic O’Kane has been appointed Affiliated Professor at EDHEC Business School. He was previously Managing Director and Head of Fixed Income Quantitative Research (Europe) at Lehman Brothers International, where he focused on the pricing and risk models used across credit, interest rates, FX and commodity derivatives. His future research activities will focus on the modelling of European and US sub-prime mortgages. More...
28/09/07

Legal Origins & Financial Markets
Florencio Lopez de Silanes, Professor of Finance at EDHEC Business School, was invited to conduct seminars at Harvard Law School and Harvard Economics Department on 24 & 25 September to present his latest work on legal origins, which focuses on the impact of law on financial and other markets across 100 countries. In the paper entitled, "The Economic Consequences of Legal Origins", Dr. Lopez de Silanes and co-authors Rafael La Porta and Andrei Shleifer, find that in common law countries, as opposed to civil law countries, investors are much better protected, and larger and more liquid financial markets have developed as a result. More...
24/09/07

Institutional Investment
The EDHEC Risk and Asset Management Research Centre has created a research chair, "Regulation and Institutional Investment", in partnership with AXA Investment Managers (AXA IM). The aim, for both partners, is to carry out a joint operation on a European scale to highlight the challenges for institutional investment management of regulatory developments. More...
21/09/07

EDHEC-Risk
The international advisory board of the EDHEC Risk and Asset Management Research Centre held its third annual meeting in Beaulieu sur Mer (France) on 21st September. The meeting, chaired by Jean-François Lepetit, Associate Professor at EDHEC Business School and former Chairman of the French Securities and Exchange Commission, enabled the board's members to validate the results of the work undertaken by the EDHEC Risk and Asset Management Research Centre during the previous year, and to endorse its research projects for the coming year. More...
21/09/07

Alternative Investments
Against the backdrop of record institutional investments into private equity, hedge funds, real estate, commodities, and derivatives, the number of candidates for the Chartered Alternative Investment Analyst® designation jumped 73% to 4,274 in 2007. Sponsored by the not-for-profit CAIA Association®, the charter attests to an individual’s mastery of the concepts, tools and practices essential for managing alternative vehicles. More...
18/09/07

Asset Management Education
EDHEC Asset Management Education (EAME) has been admitted as an Approved Provider under the CFA Institute Professional Development (PD) Programme. The decision by the leading association of investment practitioners means that pre-approved executive education courses offered by EAME will be considered “safe harbour” professional development activities for the 91,000+ CFA Institute members worldwide. More...
18/09/07

Risk & Asset Management
On 17-19 April, 2008 in Nice, France, EDHEC Business School and the EFM Association are jointly organising the European Financial Management 2008 Symposium on Risk and Asset Management. The keynote speaker at the event will be Richard Roll, UCLA. The call for papers is open and all papers accepted for the symposium will be eligible for publication in a special issue of European Financial Management. More...
13/09/07

MiFID & Best Execution
EDHEC is organising a two-day seminar on 18-19 December 2007 on the topic of MiFID and Best Execution. The aim of the seminar is to offer a practical understanding of the directive’s impact on business and on the wider asset management industry, and to provide a roadmap for compliance with new operational requirements, together with the conceptual and practical tools to set up the processes to achieve and demonstrate best execution. The seminar is designed and delivered by academic and industry specialists, Catherine D'Hondt and Jean-René Giraud. More...
13/09/07

13/09/07

Alternative Investments
The third edition of EDHEC Hedge Fund Days, now renamed EDHEC Alternative Investment Days to accommodate the latest developments in the alternative investment industry such as real estate and commodities investment, will be taking place at The Brewery in London on 20-21 November, 2007. More...
13/09/07

Alternative Investments
Following the official presentation of the results and conclusions of its latest research into hedge fund replication at a seminar in London on 28 June, EDHEC is organising a new session, the Alternative Betas & Hedge Fund Replication Seminar, in New York on 16 October where Lionel Martellini will present a novel approach to hedge fund investing and detail the associated techniques for identifying, measuring, and optimizing the beta benefits of hedge funds. More...
13/09/07

Commodities
Hilary Till, Research Associate with the EDHEC Risk and Asset Management Research Centre and Principal, Premia Capital Management, LLC, will be participating in a panel session at the event entitled, "Commentary on breaking news stories and their impact on commodity performance", alongside Guy Isherwood, Editor of Commodities Now and Kevin Morrison, Senior Commodities Correspondent of the FT. More...
13/09/07

Portfolio Management
David Kuenzi, Research Associate with the EDHEC Risk and Asset Management Research Centre, and Head of Risk Management and Quantitative Research at Glenwood Capital Investments, LLC, is one of five financial experts invited to speak at the 43rd meeting of the Chicago QWAFAFEW (Quantitative Work Alliance for Applied Finance, Education & Wisdom) on the theme, "Portfolio Management and the Volatility of Volatility Indexes". More...
13/09/07

Institutional Investment
Sponsorship opportunities for the EDHEC Institutional Days 2008, which will be held on 12-13 June in Paris, are now open. The conference will include five major events: the ETF Summit, the EDHEC Wall Street Journal Europe Institutional Investor Forum, the EDHEC Pension Fund Conference, the EDHEC Corporate Governance Panel, and the EuroPerformance EDHEC Alpha League Forum, together with five seminars for French and European institutional investors. Various sponsorship options are available, allowing event partners to best target their audience. More...
13/09/07

Appointments
Dr. Florencio López-de-Silanes has been appointed Finance Professor at EDHEC Business School. He holds a PhD in Economics from Harvard University and his research interests lie in the fields of International Corporate Finance and Financial Markets, and Legal Reform and Privatization. Prior to joining EDHEC, he was an advisor on these topics to several governments, international institutions and corporations. More...
12/09/07

Appointments
Pierre Mella-Barral has joined EDHEC Business School as Professor of Finance. Pierre's research projects revolve around corporate finance and asset valuation. His work consists of taking concepts used in corporate finance, in banking, or in strategic planning and adapting them to dynamic models for the valuation of financial assets. He is a graduate of the Ecole Nationale Supérieure d'Arts et Métiers and earned his Doctorate in Economics from the University of Cambridge. More...
16/08/07

Asset Allocation & Alternative Diversification
Hilary Till, Research Associate with the EDHEC Risk and Asset Management Research Centre and Principal, Premia Capital Management LLC, has been invited by the CFA Institute to speak at their 51st annual Financial Analysts Seminar in Chicago on Friday 20 July, on the theme "Lessons to be learned from the 2006 Hedge Fund Debacles". More...
20/07/07

ALM
On 6 July, Lionel Martellini, Scientific Director of the EDHEC Risk and Asset Management Research Centre, presented a paper entitled, "Dynamic Allocation Decisions in the Presence of Liability Constraints", at a workshop on "Advances in Portfolio Management" organised by the Bank of Canada and the Rotman School of Management at the University of Toronto. More...
06/07/07

Real Estate
Frédéric Ducoulombier, Associate Professor at EDHEC Business School, has been invited to speak at Property Derivatives World in London on Thursday 5 July, when he will be making a presentation in the session on "Risk Management – How Derivatives can Help" entitled, Property derivatives: investors' perceptions and expectations", during which he will be discussing the results of a pan-European survey conducted by the EDHEC Risk and Asset Management Research Centre. More...
05/07/07

Appointments
On 3 July, Dr. René Garcia joined EDHEC as a finance professor. Prior to this appointment, René was a professor at the Université de Montreal, where he taught finance and econometrics. His research interests revolve around the valuation of financial assets, portfolio management and risk management. René has published in leading international journals and is the editor-in-chief of the Journal of Financial Econometrics. René holds a PhD in Economics from Princeton University. More...
03/07/07

Appointments
Dr. Devraj Basu has been appointed Senior Research Engineer at the EDHEC Risk and Asset Management Research Centre, with effect from 2 July. Prior to joining EDHEC, Devraj was a lecturer in finance at CASS Business School, City University, London, and at Warwick Business School in Coventry. He holds a PhD in Mathematics and his fields of research include asset pricing and asset allocation, and continuous time finance. More...
02/07/07

Alternative Investments
On 28 June at the Marriott Renaissance Chancery Court hotel in London, Lionel Martellini, Scientific Director of the EDHEC Risk and Asset Management Research Centre, will be unveiling the results and conclusions of EDHEC's forthcoming survey on hedge fund replication at an exclusive evening seminar and debate. In the survey entitled "The Myths and Limits of Passive Hedge Fund Replication", EDHEC provides a critical analysis of the various methodologies involved in hedge fund replication offers and examines the respective benefits and limits of the "factor-based" and "payoff-distribution" hedge fund replication approaches, presenting independent tests of each technique's ability to consistently deliver hedge-fund-like returns, and suggesting new directions to improve hedge fund trackers. More...
28/06/07

Alternative Investments
Designed and delivered by two leading experts in the theory and practice of hedge fund investing, François-Serge Lhabitant, CIO of Kedge Capital and Associate Professor at EDHEC Business School, and Lionel Martellini, Professor at EDHEC and Scientific Director of the EDHEC Risk and Asset Management Research Centre, this intensive seminar will equip participants with a workable knowledge of the state of the art techniques for analysing the performance and risks of alternative investments and optimising hedge fund benefits both at the fund level and for end-investors. More...
28/06/07

Best Execution & Operational Performance
Jean-René Giraud, Director of Development at the EDHEC Risk and Asset Management Research Centre, will be moderating a workshop on the theme, "Are regulators about to seal the future of exchanges?" at Euronext's International Advisory Board Meeting which will bring together major institutional investors. More...
15/06/07

Alternative Investments
On 7 June in Paris at the inaugural EDHEC Research Day, Jean-François Lepetit, Chairman of the EDHEC-Risk International Advisory Board, former Chairman of the COB and recently appointed Chairman of the French National Accounting Council, delivered a presentation on the subject of Regulation and Hedge Funds, entitled "When EDHEC's Research Convinces the Regulator". More...
07/06/07

Best Execution & Operational Performance
At the seminar, Jean-René Giraud, Director of Development at the EDHEC Risk and Asset Management Research Centre, will be presenting the results of EDHEC's Europe-wide survey on investors' attitudes towards trading and Transaction Cost Analysis and will be discussing an alternative benchmark, EBEX indicators, that can be used for measurement purposes. More...
09/05/07

Real Estate
Frédéric Ducoulombier, Associate Professor at EDHEC, was invited to speak at the IEIF's annual conference which took place in Paris on 24 April. At the event, the theme of which was "Real Estate: where are the limits?", Frédéric Ducoulombier presented the preliminary results from a pan-European survey on the real estate investment and risk management practices of institutional investors. More...
24/04/07

Best Execution & Operational Performance
Jean-René Giraud, Director of Development at the EDHEC Risk and Asset Management Research Centre, will be participating in the MiFID Focus Day where he will be making a presentation entitled, "MiFID: The (In)famous Revolution - Consequences and Opportunities", on 24 April. He will also be chairing a plenary session on 26 April on the theme, "Do exchanges have a future and what lies in store for the evolution of the execution landscape?", involving representatives of the major European stock exchanges. More...
24/04/07

Commodities
Hilary Till, Research Associate with the EDHEC Risk and Asset Management Research Centre, and Principal, Premia Capital Management, LLC, will be participating in a luncheon panel discussion organised by the CFA Society of Chicago on 5 April, during which the Chicago authors of the recently published book "Intelligent Commodity Investing" will clarify what the key return drivers for commodity investing are and will also explain how to manage the risks in these investments. More...
05/04/07

Asset Allocation & Alternative Diversification
The French Banking Federation has announced that it has awarded one of five high-level Research Chairs in the field of corporate and investment banking to EDHEC Business School. The objective of the "Structured Products and Derivatives" Research Chair which has been awarded to EDHEC, will be to examine structured products with regard to clients' specific requirements. The FBF will contribute 300,000 euros over five years to finance each of the Research Chairs, which aim to increase the competitiveness of the French financial market. More...
03/04/07

ALM & Asset Management
On 29 March at the Club Saint James in Paris, Noël Amenc, Director of the EDHEC Risk and Asset Management Research Centre, Philippe Foulquier, Director of the EDHEC Financial Analysis and Accounting Research Centre, and Samuel Sender, Research Associate, made a presentation on the theme: "Solvency II: inadequate and poorly constructed regulations" to business leaders from France's leading insurance companies and the insurance regulatory authorities. More...
29/03/07

ALM & Asset Management
Philippe Foulquier, Associate Professor at EDHEC Business School, and Director of the EDHEC Financial Analysis and Accounting Research Centre, made a presentation on 27 March on the theme: "Solvency II: Does the increasing demand for transparency constitute a sufficient guarantee to avoid the pitfalls of IFRS and EEV?", at the second annual conference on Solvency II organised by the French insurance publication, "L'Argus de l'Assurance". More...
27/03/07

ETFs
The first of a series of EDHEC/iShares European seminars, the theme of which is "Innovations: Being Active with ETFs" will be taking place in Rome on 21 March, followed by Milan on 22 March, featuring EDHEC speaker Lionel Martellini, Professor of Finance at EDHEC Business School and Scientific Director of the EDHEC Risk and Asset Management Research Centre. The programme will cover topics such as the benefits of core-satellite portfolio management, case study examples of how ETFs can be used in a "core" and "satellite" strategy, designing completeness portfolios, and how ETFs can offer risk reduction benefits for both equity and bond markets. The seminars will be taking place in other European cities during March and April. More...
21/03/07

Commodities
Hilary Till, Research Associate with the EDHEC Risk and Asset Management Research Centre and Principal, Premia Capital Management, LLC, will be making a presentation entitled, "Term Structure Properties of Commodity Investments" at this unprecedented event which gathers top industry leaders worldwide in Foreign Exchange and Commodities to discuss, explore and educate institutional investors on the intricacies, merits, and applications of both asset classes. More...
20/03/07

Appointments
On 16 March, the French Ministry of Economy, Finance and Industry announced the appointment of Jean-François Lepetit as Chairman of the French National Accounting Council. In this role, Jean-François Lepetit, who is an Associate Professor of Finance at EDHEC Business School and Chairman of the EDHEC Risk and Asset Management Research Centre's International Advisory Board, will be responsible for the institution's development, notably with the introduction of the new IFRS accountancy standards. More...
16/03/07

Appointments
Dr. Giamouridis' areas of research include derivatives and alternative investments, with a particular focus on option valuation/hedging and hedge funds (portfolio choice/investment decisions, pricing, return predictability, risk management). He has published in a number of international academic journals and is also a frequent speaker at academic and practitioner conferences. More...
14/03/07

Asset Management
The EDHEC Risk and Asset Management Research Centre will be organising the second edition of the EDHEC Asset Management Days at the Hotel President Wilson in Geneva on 12-13 March. EDHEC Asset Management Days 2007 will explore how to use the most recent research advances and the latest industry innovations as new sources of value in investment management. More...
12/03/07

Alternative Investments
The third edition of the EDHEC Hedge Fund Days, now rebranded as EDHEC Alternative Investment Days to accommodate the latest developments in the alternative investment industry such as real estate and commodities investment, will be taking place in London on 20-21 November, 2007. The first day of the event will comprise a Hedge Funds Summit, and the second day will cover State of the Art Alternative Investment. CNBC Europe and the International Herald Tribune will be premium media partners of the event. More...
02/03/07

Commodities
Hilary Till, Research Associate with the EDHEC Risk and Asset Management Research Centre and Principal, Premia Capital Management, LLC, co-editor of the recent book "Intelligent Commodity Investing", will be participating in a panel discussion on 11 June in New York featuring fellow authors of the publication, which provides comprehensive insights into commodity investment. More...
01/03/07

ALM & Asset Management
Further to their work in this area, the authors of the recent EDHEC paper entitled "CP20: Significant improvements in the Solvency II framework but grave incoherencies remain", Philippe Foulquier and Samuel Sender, were invited by the European Parliament to participate in a roundtable on 27 February in Brussels. Their presentation concluded that efficient risk management, asset-liability management and asset management is ultimately penalised heavily by the IFRS and Solvency II, which goes against the objectives that they initially wanted to promote. More...
27/02/07

Alternative Investments
The latest edition of the Lhabitant Hedge Fund Seminar will be taking place in London on 26 February 2007. This seminar, delivered by François-Serge Lhabitant, Associate Professor of Finance at EDHEC Business School and CIO of Kedge Capital, is designed to equip participants with a workable knowledge of the techniques that should be part of the toolkit of anyone investing in hedge funds or advising private and institutional clients on the inclusion of hedge funds in their portfolios. More...
26/02/07

Commodities
The State-of-the-Art in Commodities Investing Seminar run by EDHEC Asset Management Education will be taking place in London on 30-31 January 2007. This limited enrolment seminar has been designed by two EDHEC experts, Research Associate Hilary Till, who is the co-founder and principal of natural resources proprietary trading Premia Capital Management, and Associate Professor François-Serge Lhabitant, who is the CIO of Kedge Capital, to equip participants with a comprehensive overview of natural resources markets and products, a thorough understanding of the importance of commodities as an asset class, and the state-of-the art techniques for implementing futures programmes and managing institutional commodity investments. More...
30/01/07

Alternative Investments
In a working paper entitled "Quantification of Hedge Fund Default Risk", which led to the publication of a full article in the Fall issue of the Journal of Alternative Investments, Jean-René Giraud and Stéphane Daul of the EDHEC Risk and Asset Management Research Centre, together with co-author Corentin Christory, examined numerous cases of hedge fund default in order to find the common factors behind fund failures. More...
17/01/07

Alternative Investments
On the back of record commitments to non-traditional assets and strategies by institutional investors, the number of candidates for the Chartered Alternative Investment AnalystSM designation has reached new record highs in 2006. EDHEC Asset Management Education, the exclusive CAIA AssociationSM course provider for Europe, is organising the following review courses for the March sessions of the exam:
  • Level I: January 10-12 (Paris), January 24-26 (Zurich), February 7-9 (London)
  • Level II: January 17-19 (London)
More...
10/01/07

Appointments
Ms. Joëlle Miffre has joined EDHEC as Associate Professor of Finance to teach Fixed-Income Securities and Derivatives. She will also participate actively in the work of the EDHEC Risk and Asset Management Research Centre. Her research focuses on portfolio management, with special emphasis on alternative assets (hedge funds, commodities, real estate), performance evaluation, non-normality risks, ETFs and momentum strategies. More...
09/01/07

Alternative Investments
EDHEC Associate Professor François-Serge Lhabitant’s latest publication, the "Handbook of Hedge Funds", combines new material with updated information from his two other best sellers: "Hedge Funds: Quantitative Insights" and "Hedge Funds: Myths & Limits", to provide a comprehensive guide to the hedge fund industry for investors and fund and portfolio managers. More...
31/12/06

Alternative Investments
Following the launch in 2004 of the EuroPerformance-EDHEC Style Ratings, the innovative system for rating the performance of European mutual funds, which measures the performance with regard to the risks that were really taken by the managers while at the same time taking the extreme risks being run and the managers’ capacity to generate outperformance into account, the French financial daily La Tribune asked EDHEC in 2005 to apply the same approach to rating funds of hedge funds. The results of the second edition of the rankings were published in France on December 5th. More...
05/12/06

Institutional Investment
The 2006 IPE Awards will be taking place in Paris on 30th November. This year again, EDHEC will be involved in the event and Noël Amenc, Professor of Finance at EDHEC Business School and Director of the EDHEC Risk and Asset Management Research Centre, will be a keynote speaker during the presentations, alongside Mr. Charlie McCreevy, European Commissioner for Internal Market and Services and former Irish Minister for Finance, and Mr. Bernard Kouchner, Member of the European Parliament, former French Health Minister and Co-Founder of Médecins du Monde and Médecins sans Frontières. More...
30/11/06

Institutional Investment
Following on from the success of its Hedge Fund Days in London and Asset Management Days in Geneva, the EDHEC Risk and Asset Management Research Centre is organising its inaugural two-day EDHEC Institutional Days 2006 at the CNIT in Paris on 21-22 November next. The event will feature the EDHEC ETF Summit, the New Challenges for European Institutional Investors Conference, and the State of the Art Institutional Asset Management Master Class, with speakers including EDHEC's research specialists and distinguished figures from the institutional investor community. More...
21/11/06

Alternative Investments
Noël Amenc, Professor of Finance at EDHEC Business School and Director of the EDHEC Risk and Asset Management Research Centre, has been invited to speak at the Luxembourg Investment Forum in Rome, the theme of which is "Where and how to be invested in 2007?". In the Alternative Investment session of the three-day event, Noël Amenc made a presentation entitled "What are the prerequisites for out-performance and low correlation to traditional asset classes?" More...
17/11/06

ALM & Asset Management
In a new position paper by Philippe Foulquier, director of the EDHEC Financial Analysis and Accounting Research Centre, and Samuel Sender, research associate with the EDHEC Risk and Asset Management Research Centre, entitled "QIS 2: Modelling that is at odds with the prudential objectives of Solvency II", EDHEC regrets the approach chosen by the CEIOPS (Committee of European Insurance and Occupational Pensions Supervisors) for the European Commission as proposed in the QIS 2 (Quantitative Impact Study 2). More...
17/11/06

Alternative Investments
The next "State of the Art in Hedge Fund Investment" Seminar run by EDHEC Alternative Investment Education and delivered by François-Serge Lhabitant, professor at EDHEC Business School, will be held at the Dorchester Hotel in London on 16 November. This limited enrolment seminar draws on the latest results of the alternative investment research conducted within the EDHEC Risk and Asset Management Research Centre, offering insight into state of the art practices for implementing hedge fund programmes, controlling risk, and measuring and reporting on performance and risks. More...
16/11/06

Appointments
An active researcher for over 15 years in the fields of finance, economics and computer science and engineering, Dr. Harmantzis is a specialist in alternative investments, and his research interests include investment strategies and investment management. He is a member of the Investment Management Research team at FX-Concepts in New York, an investment firm with $12 billion in assets. More...
09/11/06

Style & Performance Analysis
Agefi, the leading newspaper for the financial community in France, will be holding its 2006 asset management awards in Paris on November 8th. As in previous years, EDHEC, together with EuroPerformance, has been involved in producing the rankings for the Awards. More...
08/11/06

Style & Performance Analysis
EDHEC and EuroPerformance have released their rankings of the top UK asset management companies. The Alpha League Table 2006 for the UK reveals that compared to the results obtained by leading asset managers in France, Italy and Spain, the figures from the UK are truly remarkable. The Alpha League Table is constructed on the basis of a genuine measure of alpha, using a state-of-the-art methodology developed by EDHEC. More...
16/10/06

Alternative Investments
François-Serge Lhabitant, Associate Professor at EDHEC Business School, will be delivering a presentation on the theme, "Hedge Funds: From diversification to diworsification", organised by the Swiss CFA Society, on 18 September in Geneva and on 19 September in Zurich. More...
18/09/06

Asset Allocation
Lionel Martellini will be speaking on the theme "Optimal Allocation Decisions in Asset and Liability Management" at a research seminar organised by the Bank of Italy at the Ente "Luigi Einaudi" for monetary, banking and financial studies in Rome on September 15. More...
15/09/06

Asset Allocation
Lionel Martellini has been invited to speak at a seminar organised by Assogestioni (the Italian association of fund mangers), where he will be addressing the topic of new frontiers in asset management, with a focus on dynamic asset allocation strategies. More...
14/09/06

Asset Allocation
The theme of this year’s summer school, run by the Department of Mathematics for Economics and Social Science of the University of Bologna, is "Asset Management Markets: People, Products and Techniques". Lionel Martellini, Professor of Finance at EDHEC Business School and Scientific Director of the EDHEC Risk and Asset Management Research Centre, will be making a presentation entitled, "Dynamic Asset Allocation Strategies and Non-Linear Payoffs in Asset Management and Asset-Liability Management". More...
13/09/06

Indexes & Benchmarking
Af2i (the French association of institutional investors) and EDHEC have carried out research on the main market indices used by European investors. This work received the support of BNP Paribas Asset Management and UBS Global Asset Management. The results of the Af2i/EDHEC study, entitled “Assessing the Quality of Stock Market Indices: Requirements for Asset Allocation and Performance Measurement”, will be presented to the members of Af2i by Noël Amenc, Professor of Finance at EDHEC Business School and Director of the EDHEC Risk and Asset Management Research Centre, in Paris on 12 September. More...
12/09/06

Regulation
Jean-René Giraud, Director of Development at the EDHEC Risk and Asset Management Research Centre, was invited to make a presentation about hedge fund regulation in Europe during the Economic Symposium, as part of the "Global Capital Markets and the Role of Hedge Funds" working group. More...
31/08/06

Alternative Investments
International investment manager Olympia Capital Management (OCM) and EDHEC Business School, have teamed up yet again to organize the second annual summer programme in alternative investment, aimed at helping young talents from all over the world to discover one of the fastest growing and yet least understood sectors of the asset management industry. More...
10/07/06

Indexes & Benchmarking
The European Financial Management Association invites its members to participate in its annual meeting by submitting papers in all areas of finance. In addition to the regular sessions of academic research, the program includes special sessions to enhance the exchange of ideas between academics and practitioners and to provide a forum for discussion of special topics. This year, Lionel Martellini, Professor of Finance at EDHEC Business School and Scientific Director of the EDHEC Risk and Asset Management Research Centre, will be presenting a paper in the special session "Hedge Funds: Performance and Risk", entitled "Hedge Fund Indices: Reconciling Investability and Representativity", co-authored with Felix Goltz (EDHEC) and Mathieu Vaissié (research associate), on 1st July in Madrid. More...
01/07/06

Alternative Investments
On 22-23 June, François-Serge Lhabitant, associate professor at EDHEC Business School and Lionel Martellini, Professor of Finance at EDHEC Business School and Scientific Director of the EDHEC Risk and Asset Management Research Centre, will be holding an exclusive seminar in London aimed to equip participants with a workable knowledge of the state of the art techniques for analysing the performance and risks of alternative investments and optimising hedge fund benefits both at the fund level and for end-investors. This seminar draws on the latest results of the alternative investment research conducted within the EDHEC Risk and Asset Management Research Centre. More...
22/06/06

Alternative Investments
EDHEC AI Education, the exclusive CAIA Association® course provider for Europe since 2004, will be holding a three-day Level I CAIA review seminar in Paris on 21-23 June. This will be followed by a second review seminar in London on 3-5 July and a Level II review course in London on 31 August to 1 September. To date, EDHEC AI Education has helped professionals from more than a hundred organisations pass the CAIA® exams, with a success rate of 90%. More...
21/06/06

EDHEC
On 20th June, Daniel Haguet, Professor in the Economics and Finance department at EDHEC Business School made a presentation on the theme, "Investor behaviour: Application to Financial Markets", to the Cercle de l’Orangerie in Paris, whose members are the private clients of BNP Paribas bank. The conference principally dealt with the biases of investor behaviour and their consequences in the field of portfolio management, and the conference minutes were distributed to all the members of the Cercle de l’Orangerie. More...
20/06/06

Alternative Investments
IOSCO is the international standard setter for securities markets, regulating more than 90% of the world's securities markets. The organization has established a specialised Technical Committee, divided into five major functional subject areas, whose objective is to review major regulatory issues related to international securities and futures transactions and to coordinate practical responses to these concerns. It is within the context of IOSCO’s comprehensive consultation policy that Noël Amenc, Professor of Finance at EDHEC Business School and Director of the EDHEC Risk and Asset Management Research Centre, and Jean-René Giraud, CEO of EDHEC-Risk Advisory, were heard by IOSCO’s Standing Committee nº 5 in charge of investment management on 14th June 2006 on the subject of hedge fund risks, as part of a specific consultation process concerning the regulation of hedge funds. More...
14/06/06

Indexes & Benchmarking
To mark the first anniversary of the EDHEC Hedge Fund Diversifier Benchmarks, the EDHEC Risk and Asset Management Research Centre and Lyxor Finance, jointly organised a breakfast seminar at Le Meurice hotel in Paris on 8th June to present the year’s results. More...
08/06/06

Asset Allocation
Lionel Martellini, Professor of Finance at EDHEC Business School and Scientific Director of the EDHEC Risk and Asset Management Research Centre, was invited to speak at Europe's premier networking event for risk management and derivative trading professionals held in Monaco from 5-8 June, on the theme, "Dynamic asset allocation strategies and non-linear payoffs in ALM". More...
07/06/06

EDHEC-Risk
The advisory board of the Edhec Risk and Asset Management Research Centre will be holding its first annual meeting on 27th May in Beaulieu sur Mer (France). More...
27/05/06

Alternative Investments
The 59th CFA Institute Annual Conference will be taking place in Zurich on 20th-24th May. The theme of this year’s conference is “Reaching for the Investment Management Summit”, and topics will include global geopolitics and the impact on investments, pension plan investment strategies, the sustainability and institutionalization of hedge funds, investing in emerging markets, and asset/liability management. François-Serge Lhabitant, Associate Professor of Finance at EDHEC Business School, will be hosting a workshop session at the conference entitled, “Hedge Fund Myths and Limits: A View from the Buy Side”. More...
24/05/06

Style & Performance Analysis
The Alpha League Table is constructed on the basis of a genuine measure of alpha, using a state-of-the-art methodology developed by EDHEC. After, France and Spain-Italy, EDHEC and EuroPerformance have released the third edition of the Alpha League Table, which this time ranks the top asset management companies in Switzerland. The results are extremely tight, the top three only being separated by a hair’s breadth with a difference of less than one hundredth of a point. More...
22/05/06

Risk Management
Mr. Bruno Dupire, world expert in the field of derivatives, will be sharing his expertise with the EDHEC Risk and Asset Management Research Centre's team and EDHEC's MSc Finance and MSc Risk and Asset Management students on Tuesday, 16th May at 13:00 at EDHEC Business School's Nice campus. The presentation, the theme of which will be “Risk Premia Revisited”, will include the following topics:
  • Arbitrage, completeness, link measure/numeraire
  • Numeraire portfolio associated with the physical measure
  • Risk premium as a convexity bias
  • Portfolio theory revisited
Mr. Bruno Dupire headed the Derivatives Research teams at Société Générale, Paribas Capital Markets and Nikko Financial Products before joining Bloomberg in NY 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. Prior to this, he obtained a Master’s Degree in Artificial Intelligence, a PhD in Numerical Analysis and introduced the use of Neural Networks for financial time series forecasting. He is a Fellow and Adjunct Professor at NYU and he is in the Risk magazine “Hall of Fame” of the 50 most influential people in the history of Derivatives and Risk Management. He is the recipient of the 2005 “Cutting edge research” award of Wilmott magazine.
More...
16/05/06

EDHEC-Risk
The second annual meeting of the EDHEC Risk and Asset Management Research Centre’s international advisory board was held in Beaulieu on 12th May, chaired by Mr. Jean-François Lepetit, associate professor with EDHEC and former president of the French regulatory authority, the COB (Commission des Opérations de Bourse). This was the occasion for the members of the advisory board, made up of distinguished scholars, representatives of regulatory bodies and senior executives from business partners and other leading institutions, to discuss the research centre’s scientific programme and the results of on-going research projects, as well as future research themes. More...
12/05/06

EDHEC-Risk
The permanent researchers and research associates of the EDHEC Risk and Asset Management Research Centre met in Nice on 11th May to review the progress and highlights of the year's research work. More...
11/05/06

Best Execution & Operational Performance
Jean-René Giraud, CEO of Edhec-Risk Advisory, will be speaking at the pre-conference Focus Day on 25th April, the theme of which is "Successfully Rising to the Challenges of Achieving Increased Transparency and Unbundled Execution in the New International Regulatory Landscape" and will also be participating in the Transaction Cost Analysis workshop led by Catherine D'Hondt, Associate Professor of Finance at Edhec Business School. More...
25/04/06

Institutional Investment
Lionel Martellini, Professor of Finance at EDHEC Business School and Scientific Director of the EDHEC Risk and Asset Management Research Centre, will be speaking on the theme, “Investing in Hedge Funds from the Institutional Investor’s Perspective” on 24th April. More...
24/04/06

Institutional Investment
During this year's institutional investment forum that will be taking place in Paris at the Palais des Congrès on 15th & 16th March, EDHEC will again be jointly organising the "Agora de la Performance" with EuroPerformance. Based on the EuroPerformance-EDHEC Style Rating, a selection of the best European institutional managers will be presented, and French managers will be interviewed by editorial staff from several major French publications. EDHEC will also be participating in a conference on the theme "Solvency II: impacts on institutional investment well before 2010!" on 15th March at 4.15 pm, at which Philippe Foulquier, Associate Professor of Finance at EDHEC Business School, will be speaking. More...
15/03/06

Style & Performance Analysis
After the Alpha League Table for France, EDHEC and EuroPerformance have released their rankings of the top Italian and Spanish asset management companies. The rankings were constructed on the basis of a genuine measure of alpha, using a methodology developed by EDHEC which corresponds to the state-of-the-art in financial research. In terms of alpha creation in both Spain and Italy, internationally invested funds dominate. More...
13/03/06

Alternative Investments
Noël Amenc, Professor of Finance at Edhec Business School and Director of the Edhec Risk and Asset Management Research Centre, and Jean-René Giraud, CEO of Edhec-Risk Advisory, will be jointly making the keynote opening presentation at the conference on 9th March, entitled "New Ideology for Alternative Investments". More...
09/03/06

Fixed Income & Alternative Investments
Jean-René Giraud, CEO of Edhec-Risk Advisory, will be participating in the panel discussion entitled "Hedge Funds and Bonds: No Direction Home?" on 28th February at the Queen Elizabeth II Conference Centre in London. More...
28/02/06

Alternative Investments
Following on from the success of its inaugural Hedge Fund Day in London last year, the Edhec Risk and Asset Management Research Centre will be returning to London for the three-day Edhec Hedge Fund Days 2006 at The Brewery conference centre on February 14th, 15th and 16th. At this unique event, which is organised by an academic research centre for the benefit of professionals, Edhec's research specialists and distinguished figures from the institutional and asset management worlds will be discussing Edhec's research in a range of areas such as hedge funds in asset liability management, optimising the risk budget, the value added by funds of hedge funds and the existence or otherwise of a capacity effect. More...
14/02/06

Alternative Investments
François-Serge Lhabitant, Associate Professor of Finance at EDHEC Business School, will be speaking at the third edition of the MondoHedge awards for Italian hedge funds on 8th February at the Four Seasons Hotel in Milan. More...
08/02/06

Alternative Investments
The results of the EDHEC European Alternative Diversification Practices Survey were published on 9 January. The study generated responses from 151 European institutional investors representing, at 30/09/2005, a total volume of over one trillion euros of assets under management, enabling EDHEC to produce a detailed assessment of current institutional practices in Europe. More...
09/01/06

Alternative Investments
Jean-René Giraud, CEO of Edhec-Risk Advisory and Research Associate at the Edhec Risk and Asset Management Research Centre, will be participating in this prestigious black-tie dinner and debate moderated by the well-known presenter and broadcaster, Jon Snow, and organised by the Futures and Options Association (FOA). More...
05/01/06

Asset Allocation
The conference will be taking place from 14th to 16th December at the Ecole Nationale de l’Industrie Minérale in Rabat. Lionel Martellini, Professor of Finance at Edhec Business School and Scientific Director of the Edhec Risk and Asset Management Research Centre, will be making a presentation on the theme, “Dynamic Allocation Strategies in the Presence of Liability Constraints” in the “Mathematics for Finance” session. More...
15/12/05

Alternative Investments
The 3-day seminars organised by Edhec Alternative Investment Education, the exclusive official provider of CAIASM exam preparatory courses for Europe, will be taking place in Paris, Geneva and London in December and January.
Level I: Paris (13-15 December); Geneva (19-21 December); London (4-6 January)
Level II: London (11-13 January); Geneva (16-18 January)
More...
13/12/05

Alternative Investments
Noël Amenc, Professor of Finance at Edhec Business School and Director of the Edhec Risk and Asset Management Research Centre, will be making a presentation on 2nd December entitled "What innovations in alternative investment?", in which he will talk about alternative diversification. More...
02/12/05

Asset Allocation
Lionel Martellini, Professor of Finance at Edhec Business School and Scientific Director of the Edhec Risk and Asset Management Research Centre, has been invited by Eurex to participate as a guest speaker at a meeting of its Investors Advisory Committee to be held on 23rd November. More...
23/11/05

Alternative Investments
François-Serge Lhabitant, Associate Professor of Finance at Edhec Business School, will be making a keynote address on 22nd November entitled, "Hedge funds for long term capital management - a buy side perspective". More...
22/11/05

Asset Allocation
On the occasion of the launch of Alteram Optimal Equity on the 22nd November in Paris, Noël Amenc, Professor of Finance at Edhec Business School and Director of the Edhec Risk and Asset Management Research Centre, will be presenting the “Dynamic Core-Satellite” methodology developed by Edhec upon which the Alteram optimal equity fund is based. More...
22/11/05

Style & Performance Analysis
The sixth session of “Les Matinales Fidelity”, a series of training seminars on different topics aimed at financial consultants and taking place at 13 locations throughout France, was held in Paris on the 18th November at the Pavillon Gabriel, on the theme, “With 9,943 mutual funds on the market, what fund selection tools are available?”. The presentation to over 300 participants, including financial consultants, bankers, insurers and funds of funds, was the occasion for Daniel Haguet, Professor of Finance at Edhec Business School to:
  • assess the use of the traditional ratios (Sharpe ratio and information ratio) in analysing the fund's risk/return combination
  • present the rating agencies’ methodologies (Morningstar, S&P, etc.)
  • describe the basis of the EuroPerformance-Edhec Style Rating methodology
  • apply the Style Rating to concrete examples.
More...
18/11/05

Style & Performance Analysis
The Alpha League Table is the first European classification of asset management firms on the basis of an accurate measure of risk-adjusted performance. Applied in turn to each European country, followed by an overall list, the Alpha League Table evaluates all the asset management firms in the country studied for their equity management and their ability to deliver alpha. For its first edition, the Alpha League Table has ranked the 25 best asset management firms in France. More...
15/11/05

Asset Management
The South European Center for Contemporary Finance (SECCF) has invited Lionel Martellini, Professor of Finance at Edhec Business School and Scientific Director of the Edhec Risk and Asset Management Research Centre, to participate in a series of four seminars on the theme, “An academic perspective on the asset management industry”, at the Faculty of Economics at the University of Belgrade from 10th to 13th November. More...
10/11/05

Alternative Investments
Edhec Alternative Investment Education is organising its next "State of the Art in Hedge Fund Investment" seminar at the Dorchester Hotel in London on 9th November. This limited enrolment seminar, delivered by François-Serge Lhabitant, offers insight into state of the art practices for implementing hedge fund programmes, controlling risk, and measuring and reporting performance and risks. More...
09/11/05

Regulation
The Edhec Risk and Asset Management Research Centre was invited to speak on the theme, "The specificities of the management and governance of long-term savings", at a meeting of the scientific advisory board of the Autorité des Marchés Financiers that was held in Paris on 25th October. The research centre was represented by Daniel Haguet, Professor of Finance at Edhec Business School, Lionel Martellini, Professor of Finance at Edhec Business School and Scientific Director of the Edhec Risk and Asset Management Research Centre, Jean-François Lepetit, Chairman of the Edhec Risk and Asset Management Research Centre Advisory Board, and Noël Amenc, Professor of Finance at Edhec Business School and Director of the Edhec Risk and Asset Management Research Centre. More...
25/10/05

Style & Performance Analysis
Agefi, the leading newspaper for the financial community in France, will be holding its annual asset management awards in Paris on October 19th. As for the past four years, Edhec, together with EuroPerformance, has been involved in producing the rankings for the Awards. More...
19/10/05

Asset Allocation
The seminar, presenting weekly lectures in financial modeling by leading researchers and practitioners, will be taking place at The Courant Institute of Mathematical Sciences, New York University. Lionel Martellini, Professor of Finance at Edhec Business School and Scientific Director of the Edhec Risk and Asset Management Research Centre, will be speaking on the theme, "Dynamic Portfolio Choice with Parameter Uncertainty and the Economic Value of Analysts' Recommendations", on October 13th. More...
13/10/05

Alternative Investments
Edhec and Lyxor Asset Management jointly held a conference for institutional investors on the 5th October at the Pavillon Ledoyen in Paris. Both Noël Amenc (Director) and Lionel Martellini (Scientific Director) of the Edhec Risk & Asset Management Research Centre spoke at the event.
More...
05/10/05

Wealth Management
Noël Amenc, Professor of Finance at Edhec Business School and Director of the Edhec Risk and Asset Management Research Centre, will be making a presentation on "How to Produce and Monitor Alpha in the Long Only Universe", in which he will be speaking on the EuroPerformance-Edhec Style Rating. More...
29/09/05

Appointments
Philippe Foulquier, a top-rated financial analyst specialising in the insurance sector, has joined Edhec as an associate professor. He will also be in charge of IFRS/Solvency 2 issues affecting the institutional investment industry, at the Edhec Risk and Asset Management Research Centre. More...
22/09/05

Awards
The Edhec Risk and Asset Management Research Centre will be participating in this prestigious event, which awards financial firms with the best technology operations in Europe. The winners will be announced at a ceremony to be held at the Merchant Taylor's Hall in the City of London on the evening of 21st September. More...
21/09/05

Asset Management
Each week, from the 20th September to the 13th December, La Tribune will be publishing a page in its "Asset Management" section dedicated to the work undertaken by the Edhec Risk and Asset Management Research Centre, covering a wide range of topical themes. More...
20/09/05

Appointments
Daniel Capocci has been named as a Research Associate with the Edhec Risk and Asset Management Research Centre. He will be contributing regular papers on hedge fund strategies to the centre’s web site and will also be lecturing in finance at EDHEC Business School. Daniel, who works as a Fund of Funds Manager with the Institutional & Fund Management division of Kredietrust Luxembourg, speaks and writes regularly on issues related to alternative investment. More...
12/09/05

Alternative Investments
This major survey of 183 industry players, including institutional investors and hedge fund and fund of hedge fund managers, was conducted by the Edhec Risk and Asset Management Research Centre from May 31st to July 8th 2005. It confirms the conclusions of the centre's recent study on alleged capacity effects in the hedge fund industry, and reveals that alternative investment professionals are upbeat about future prospects for the industry and do not see the so-called “capacity effect” as a major threat to future profitability. More...
09/08/05

Asset Management
Noël Amenc, Professor of Finance at Edhec Business School and Director of the Edhec Risk and Asset Management Research Centre, will be speaking on "Clarifying The Means & Practices Of Asset Allocation In A Fund Of Hedge Funds: Implementing A Genuine Quantitative Strategic Allocation Process" on 7th July. More...
07/07/05

Alternative Investments
The world’s first hedge fund summer camp will be taking place on the Nice campus of EDHEC between 4th and 9th July. Aimed at helping European students to discover one of the fastest growing and yet least understood sectors of the asset management industry, it will be attended by thirty young talents from fifteen countries. The intensive week-long course will concentrate on the fundamentals of hedge fund strategies and risk, and examine the practical aspects, opportunities and potential threats of including hedge funds in portfolios. More...
04/07/05

Best Execution & Operational Performance
Jean-René Giraud, CEO of Edhec-Risk Advisory will be speaking at the Transaction Cost Analysis & Best Execution Focus Day on 28th June, on the theme: "Clarifying the Path Towards Best Execution to Ensure your Desk Delivers High Performance". More...
28/06/05

Asset Allocation
The Asset Allocation Summit is a two day conference covering all aspects of strategic and tactical asset allocation, current strategy and alternative investing. Lionel Martellini, Professor of Finance at Edhec Business School and Scientific Director of the Edhec Risk and Asset Management Research Centre, has been invited to speak on the role of structured products in Asset Allocation on the 27th June. More...
27/06/05

Alternative Investments
Designed and delivered by François-Serge Lhabitant, one of the most respected practitioners and academics in the field, this intensive seminar will offer insights into state of the art practices for implementing hedge fund programmes, controlling risk, and measuring and reporting performance and risks. More...
23/06/05

Alternative Investments
The study entitled “The Right Place for Alternative Betas in Hedge Fund Performance: an Answer to the Capacity Effect Fantasy”, by Walter Gehin and Mathieu Vaissié, concludes that there is absolutely no proof of a ‘capacity effect’ in the hedge fund industry. More...
16/06/05

Style & Performance Analysis
The methodology, which was developed in 2002 by Edhec within the context of the "Grands Prix de la Gestion d'Actifs" for the French publication L'Agefi, has been adapted to the universe of Swiss funds. The awards will take place in Geneva on 14th June. More...
14/06/05

Alternative Investments
EDHEC AI Education, the Chartered Alternative Investment Analyst Association's exclusive official provider of CAIASM exam preparatory courses for Europe, will be holding two intensive review courses for the CAIA Level 1 July 2005 exam session in London on 8th-10th June and in Paris on 22nd-24th June. More...
08/06/05

Style & Performance Analysis
Edhec has published a detailed summary of its study on the main existing fund rating methods which puts into perspective the responses given to the inadequacies of the existing ratings by the new EuroPerformance-Edhec Style Ratings. More...
03/05/05

Alternative Investments
Lionel Martellini, Professor of Finance at Edhec Business School and Scientific Director of the Edhec Risk and Asset Management Research Centre, will be making a keynote address on 28th April entitled: "How to Implement a Hedge Fund Allocation Strategy in an institutional portfolio". More...
28/04/05

Best Execution & Operational Performance
Jean-René Giraud, CEO of Edhec-Risk Advisory, will be speaking at the "Unbundling & Best Execution Focus Day" on April 26th, that explains how businesses can profit from the new regulatory landscape and remain at the forefront of the drive to achieve best execution in an unbundled world. Jean-René's presentation will examine the role of MiFID in raising execution standards, from an EC perspective. More...
26/04/05

Asset Management
The Edhec Risk and Asset Management Research Centre will be organising its first Edhec Asset Management Days in Geneva on April 21st and 22nd. This unique event, organised by an academic research centre for the benefit of professionals, will feature Edhec's research in a range of areas such as core-satellite portfolio management, the use of hedge funds in institutional investors' portfolios, risk management, fund ratings and best operations. The speakers will include Edhec's research specialists and over 40 distinguished figures from the institutional investor and asset management worlds. More...
21/04/05

Alternative Investments
At this year's seminar, which is on the theme "In Search of Alpha", Noël Amenc, Professor of Finance at Edhec Business School and Director of the Edhec Risk and Asset Management Research Centre, will be making a presentation entitled "From Alpha picking to Beta management in alternative multi-management". More...
15/04/05

Style & Performance Analysis
On the 12th April at 08:30, the EuroPerformance-Edhec Style Ratings were presented to French institutional investors at the Hôtel de Crillon in Paris. This breakfast seminar was organised by AF2I and EuroPerformance with the support of Edhec. The presentations were made by Frédéric Picard, CEO of EuroPeformance, and Noël Amenc, Professor of Finance at Edhec Business School and Director of the Edhec Risk and Asset Management Research Centre. More...
12/04/05

Alternative Investments
Lionel Martellini, Professor of Finance at Edhec Business School and Scientific Director of the Edhec Risk and Asset Management Research Centre, has been invited to speak at the European Hedge Fund Workshop organised by Institutional Investor at the Berkeley Hotel in London on 12th April. Lionel will be speaking on the theme of hedge funds and asset liability management. More...
12/04/05

Institutional Investment
During the "Forum de la Gestion Institutionnelle" (institutional investment forum) taking place in Paris at the Palais des Congrès on 16th & 17th March, Edhec is organising a conference on the theme "The Impact of IFRS Standards on Institutional Investment" on 16th March at 5.00 pm. Speakers at the conference will be Noël Amenc, Professor of Finance at Edhec Business School and Director of the Edhec Risk and Asset Management Research Centre, Michel Degiovanni, Director of Finance at Matmut and President of AF2I, Philippe Foulquier, Financial Analyst at Exane and lecturer at Edhec Business School, Jean-Pierre Grimaud, CIO of Swiss Life (France) and Joël Prohin, Head of Active/Passive Investment at AG. Also during the forum, Edhec is jointly organising with EuroPerformance the "Agora de la Performance", where the best French managers, who have been awarded 5* in the EuroPerformance-Edhec Style Rating, will be interviewed by editorial staff from "La Tribune", "L'Agefi", "Asset Management Magazine" and "Option Finance". More...
16/03/05

Style & Performance Analysis
ACI Monaco - The Financial Markets Association will be holding its 8th annual symposium in Monaco on the 11th and 12th March where Noël Amenc, Professor of Finance at Edhec Business School and Director of the Edhec Risk and Asset Management Research Centre, will be discussing the rating of mutual funds and whether the ratings are based on luck or skill. More...
11/03/05

Appointments
Timothy, a partner at Berwin Leighton Paisner, will be a regular contributor to www.edhec-risk.com on European hedge fund regulation. He is a New York qualified lawyer and English solicitor, and writes regularly on issues related to investment funds and alternative asset classes. More...
01/03/05

Alternative Investments
Lionel Martellini, Professor of Finance at Edhec Business School and Scientific Director of the Edhec Risk and Asset Management Research Centre, will be speaking at Super Hedge 2005 on 28th February to 1st March in Frankfurt, where he will be presenting a research paper supported by Eurex. More...
28/02/05

Alternative Investments
The findings of Edhec's European consultation on Funds of Hedge Funds Reporting were presented to a panel of journalists on February 17th in London at a press conference hosted by FIMAT. More...
17/02/05

Alternative Investments
Noël Amenc, Professor of Finance at Edhec Business School and Director of the Edhec Risk and Asset Management Research Centre, will be speaking at the next breakfast seminar organised by AFGAP, the French association for Asset Liabilites Management, on the theme "Hedge Funds and Asset Allocation" to be held in Paris on 10th February. More...
10/02/05

Appointments
Koray Simsek has been appointed associate professor of finance at Edhec, where he is responsible for teaching classes in financial modelling and quantitative methods in finance. He is also a member of the Edhec Risk and Asset Management Research Centre where he is co-head of the Asset Liability Management (ALM) programme. More...
01/02/05

Alternative Investments
Within the context of the "Grande Ecole" and the MSc in Finance programmes, François-Serge Lhabitant, Associate Professor at Edhec Business School and Research Associate with the Edhec Risk and Asset Management Research Centre, held the "Hedge Funds and Alternative Diversification" course on the 17th, 18th, 24th and 25th January 2005. More...
25/01/05

Alternative Investments
The first CAIASM preparation seminars organised by Edhec Alternative Investment in preparation for the February exam have taken place in Geneva and London. The remaining January sessions will take place in Paris on 27th & 28th. More...
25/01/05

Regulation
Jean-François Lepetit, Associate Professor and President of the Edhec Risk and Asset Management Research Centre Advisory Board, will be speaking on the theme "The Future of Asset Management Regulation" on the 4th February 2005 at the Lille campus, within the context of the "Grande Ecole" programme. More...
25/01/05

EDHEC
EQUIS, which stands for European Quality Improvement System, is an accreditation awarded by the EFMD (European Foundation for Management Development), based in Brussels, which delivers a label of quality to the best European management institutions. The renewal of Edhec's accreditation confirms the high international academic level of the business school, which is one of the few French schools to hold triple accreditation from the AACSB, AMBA and Equis. More...
22/01/05

Alternative Investments
Lionel Martellini, Professor of Finance at Edhec Business School and Scientific Director of the Edhec Risk and Asset Management Research Centre, was invited to talk at the Pioneer Institutional Forum on the theme "Hedge Funds from the Institutional Investor's Perspective", alongside Professor Myron Scholes, Nobel prize winner for Economics. More...
21/01/05

Institutional Investment
On this occasion, Edhec and EuroPerformance will be organising the "Agora de la Performance" in which managers ranked 5* in the EuroPerformance-Edhec Style Rating will be interviewed by the editorial staff of "La Tribune", "L'Agefi", "Asset Management Magazine" and "Option Finance". More...
21/01/05

Alternative Investments
This conference, which will discuss the risks inherent in hedge funds, also features a special presentation by Myron Scholes, winner of the Nobel Prize for Economics. More...
18/01/05

EDHEC-Risk
The Edhec Risk and Asset Management Research Centre has moved from Sophia Antipolis to new premises in Nice. Our new contact details are: Edhec Risk and Asset Management Research Centre
393-400 Promenade des Anglais
BP 3116
06202 Nice Cedex 3
France
Tel. +33 (0)4 93 18 78 24
Fax +33 (0)4 93 18 78 44
E-mail: research@edhec-risk.com
More...
14/01/05

 
   
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