Revue de presse 2015

 

[2015 :  Avril - Mai - Juin  -  Juillet - Aout - Septembre  -  Octobre - Novembre - Décembre

[2016 - 2015 - 2014 - 2013]

 

[JUIN]

Global Investor (24/06/2015) 
Smart beta transparency remains key concern 

(...) EDHEC-Risk Institute finds that low level of transparency, which is routinely justified by the use of proprietary models, makes the evaluation of risks difficult. (...) 
Copyright Euromoney Institutional Investor PLC - [Texte intégral]

Investment Europe (23/06/2015) 
Amundi expands smart beta offering 

(...) The index tracks the performance of four weighted sub-indices accessed via the EDHEC Risk Institute’s Scientific Beta platform. (...)
Copyright Open Door Media Publishing Limited - [Texte intégral]

Le Figaro (23/06/2015) 
Amundi lance un nouveau fonds indiciel "Multi Smart Beta" 

(...) L'indice de stratégie réplique la performance de quatre sous-indices sélectionnés et pondérés parmi les indices disponibles sur la plateforme d'Edhec Risk Institute Scientific Beta. (...)
Copyright Le Figaro - [Texte intégral]

Financial News (15/06/2015) 
Regulators ride roughshod over academic advice 

Article by Noël Amenc, professor of finance at EDHEC Business School, director of EDHEC-Risk Institute and chief executive of ERI Scientific Beta 
Copyright Financial News - [Texte intégral - Accès avec abonnement]

IPE (June 2015) 
The language of infrastructure 

Article by Frederic Blanc-Brude, director of the EDHEC infrastructure research programme 
Copyright IPE - [Texte intégral - Accès avec abonnement]

Les Echos (09/06/2015)
Le leader dont rêvent vos cadres

(…) A l’EDHEC, l’enseignante-chercheure Valérie Petit observe « des entreprises françaises qui ne pratiquent pas le leadership de façon consciente ». (…)
Copyright Les Echos [Texte intégral]

The Wall Street Journal (08/09/2015)
Second Wave of ‘Smart Beta’ ETFs Is Coming

(…) And fund firms ETF Securities and Global X Funds have each built multifactor ETFs based on indexes developed by Edhec-Risk, a unit of the Edhec Business School in Lille, France. (…)
Copyright The Wall Street Journal [Texte intégral]

Les Echos (08/09/2015)
Pour diriger, inspirez-vous des sociétés familiales

(…) Dans ce modèle, l'évaluation des risques encourus prime toujours sur la recherche de rentabilité: « Dès que l'objectif de pérennisation conjointe de l'entreprise et de son contrôle est menacé, cette double contrainte prend le pas sur le couple rendement-risque », décrit Philippe Foulquier, directeur du pôle de recherche analyse financière et comptabilité à l’EDHEC. (…)
Copyright Les Echos [Texte intégral]

IPE (June 2015) 
The language of infrastructure 

Article by Frederic Blanc-Brude, director of the EDHEC infrastructure research programme 
Copyright IPE [Texte intégral - Accès avec abonnement]

[MAI]
Institutional Investor (28/05/2015) 
New Strategies for Improving Risk-Adjusted Returns 

(...) Eric Shirbini, global product specialist with ERI Scientific Beta in London, says there are only a limited number of factors with sufficient academic evidence to support their use in a portfolio. “The traditional factors are value, momentum, size and low-volatility,” says Shirbini, whose firm is part of the EDHEC-Risk Institute in Nice, France. (...)
Copyright Institutional Investor LLC [Texte intégral]

ETF.com (25/05/2015) 
Smart Beta Transparency: In The Eyes Of The Beholder 

(...) However, surveys conducted by the think tank and business school EDHEC Risk Institute in recent years have shown a desire among investors for a greater degree of transparency around the calculation methodology of the smart beta indexes these ETFs are based on. (...)
Copyright ETF.com [Texte intégral]

Financial Review (14/05/2015) 
Complex multi-factor funds promise us all a beta mousetrap 

(...) Global X is launching a fund that combines four factors, using an approach designed by the EDHEC-Risk Institute, with "scientific beta" indices combining value, size (small stocks do well), low volatility and momentum. (...)
Copyright Fairfax Media Publications Pty Ltd [Texte intégral]

Financial Times (13/05/2015) 
Why multi-factor funds are smarter beta 

(...) Global X is launching a fund that combines four different factors in an index designed by the EDHEC-Risk Institute. The “Scientific Beta” indices combine four factors — value, size (small stocks do well), low volatility and momentum. (...)
Copyright Financial Times [Texte intégral]

[AVRIL] 
L'Agefi Suisse (22/04/2015) 
ERI Scientific Beta: nouvelles familles indices factoriels 
(...) ERI Scientific Beta a annoncé hier l’ajout de deux nouvelles familles d’indices factoriels sur actions, l’une basée sur la rentabilité l’autre sur les investissements (low investing), toutes deux étant des facteurs appartenant à la famille des facteurs dits de «qualité». (...)
Copyright L'Agefi Suisse [Texte intégral]

Investment Europe (21/04/2015) 
ERI Scientific Beta launches two indices 

(...) By proposing not one but two smart factor quality indices, ERI Scientific Beta is allowing investors to gain exposure to two very different, and therefore highly decorrelated, factors that represent two dimensions of the quality approach. (...)
Copyright Open Door Media Publishing Limited [Texte intégral]

aiCIO (07/04/2015)
Is Geography the Next Smart Beta?
(…) The geographical reach of listed companies is a more important driver of index returns than ever before,
according to research by the EDHEC-Risk Institute. (…)
Copyright aiCIO [Texte intégral]

Financial News (06/04/2015)
Unmasked: the geographical distortion of benchmarks
Article by Felix Goltz, Head of Applied Research, EDHEC-Risk Institute
Copyright Financial News [Texte intégral]

 

[SEPTEMBRE]
The Hedge Fund Journal (24/09/2015) 
Factor Investing: Welfare improving or marketing fad? 

Article by Lionel Martellini and Vincent Milhau 
Copyright The Hedge Fund Journal [Full text - Registration required]

ETF.com (09/09/2015) 
The End Of Smart Beta As We Know It 

"(...) In August, the best performing index in their range was the SciBeta Developed Mid Cap Diversified Multi-Strategy index, with a relative return of 1.86 percent compared to the broad cap-weighted index. We have already seen this trend take hold with multi-factor ETFs launched by Amundi and Morgan Stanley in partnership with EDHEC’s Scientific Beta.. (...)" 
Copyright ETF.com [Full text]

Financial Investigator (08/09/2015) 
Monthly ERI Scientific Beta smart beta index performance report 

"(...) Scientific Beta, an EDHEC-Risk Institute Venture, has published the August 2015 Smart Beta Performance Report. Among the highlights of this month's report: This month, the best performing index in the Developed World universe among smart factor indices is the SciBeta Developed Mid Cap Diversified Multi-Strategy index, with a relative return of 1.86% compared to the broad cap-weighted index, while the SciBeta Developed Large Cap Diversified Multi-Strategy index posts the lowest relative return (0.40%). 
Copyright Financial Investigator Publishers [Full text]

Asia Asset Management (September 2015) 
Proof is in the pudding 

Article by Felix Goltz, Veronique Le Sourd and Ashish Lodh 
"(…) Alternative equity beta investing has recently received increasing attention in the industry. Although products in this segment currently represent only a fraction in assets, there has been tremendous growth recently both in terms of assets under management, and – perhaps more strikingly – in terms of new product development. (…)" 
Copyright Asia Asset Management

Benefits and Pensions Monitor (02/09/2015) 
Smart Beta Day Showcases Investment 

"(...) The ‘EDHEC-Risk Smart Beta Day’ will showcase the latest conceptual advances and research results in smart beta investing. The one-day conference, organized by the EDHEC-Risk Institute in partnership with Scientific Beta, will focus on smart beta indexation and factor investing and smart beta solutions. It takes place in New York, NY, December 15. (...)" 
Copyright Benefits and Pensions Monitor

IPE (September 2015) 
Smart beta fixed-income: Not so fast 

"(…) While a growing body of evidence shows that it is possible to build ‘smart’ equity indices that outperform traditional market capitalisation-weighted indices, the same cannot be said for fixed income. So far, practical applications have yielded unconvincing results. (...) Felix Goltz, head of applied research at the EDHEC-Risk Institute, says: “Some strategies tend to privilege economic fundamentals rather than interest rate and credit risk. There seems to be story-telling around fundamentals, while there is no evidence that markets take them into account on a consistent basis.” (…)" 
Copyright IPE [Full text - Registration required]

 
[JUILLET] 
Wealth Adviser (30/07/2015) 
EDHEC-Risk Institute raises concerns on smart beta 

"(...) Between January and February 2014, EDHEC-Risk Institute carried out a survey among a representative sample of 128 investment professionals to identify their views and uses of alternative equity beta.. (...)" 
Copyright GFM Limited

Investment Europe (21/07/2015) 
EDHEC-Risk institute smart beta indices hit $8bn 

"(...) The value of assets tracking the EDHEC-Risk Institute smart beta indices has topped $8bn, according to the French research centre. The value has tripled over the past year, particularly with the adoption of its Scientific Beta Multi-Beta Multi-Strategy offering. Now the research institute is looking to increase the level of indexed assets to over $12bn by the end of 2015. (...)" 
Copyright Open Door Media Publishing Limited [Full text]

Financial News (20/07/2015) 
Succumbing to the allure of ETF 2.0 

"(...) Noël Amenc, chief executive at smart beta index provider ERI Scientific Beta, has said that smart beta can be seen as a “low-cost commoditisation” of active management. (...)" 
Copyright Financial News [Registration required]

Benefits and Pensions Monitor (13/07/2015) 
Scientific Beta Releases Resource 

"(...) There is confusion in the area of smart beta because investors cannot be sure whether data is real and accurate or marketing jargon, says Scientific Beta’s 2015 edition of the ‘Journal of Index Investing.’ In the ‘Robustness of Smart Beta Strategies,’ it says that more than five years of live track record shows that, whatever the region, the smart beta strategy implemented outperforms the corresponding cap-weighted indices by an average of 2.1 per cent. But it is in the light of one of the best live track records for smart beta indices that Scientific Beta says that whatever the quality of the live performances exhibited, they cannot replace an in-depth assessment by investors and their consultants of the long-term performances of these. (...)" 
Copyright Benefits and Pensions Monitor

Funds Europe (08/07/2015) 
EDHEC reveals trends in smart beta theory
 
"(…) Smart beta experts, Professor Noel Amenc and Eric Shribini, revealed how far smart beta has progressed yesterday at an EDHEC-Risk Institute conference in London. They found that the first generation of smart beta strategies either tilted towards better-rewarded investment factors, or aimed at delivering better diversification than investors would get from a cap-weighted index. (...)" 
Copyright Funds Europe [Full text - Registration required]

Investment Week (06/07/2015) 
Contrarian: Why I am sceptical about the smart beta revolution 

"(...) Two recent EDHEC Risk Institute surveys, Investor Interest in Smart Beta and Alternative Equity Beta Investing, throw some valuable light on what the early adopters are up to in the smart beta space. (...)" 
Copyright Incisive Business Media (IP) Limited [Full text]

 
 

[DECEMBRE]
Le Monde (10/12/2015)
La « finance verte » est une illusion

Article par Noël Amenc, Directeur d'ERI Scientific Beta.
Copyright Le Monde [Texte intégral]

Les Echos (03/12/2015)
L'EDHEC va lancer des indices à faible empreinte carbone

(…) Alors que la COP21 (21e conférence des parties sur l'environnement) bat son plein à Paris, l'Edhec ne comptait pas rester à l'écart. L'école de commerce, très active dans la recherche dédiée aux problématiques de la gestion d'actifs, a accéléré ses travaux académiques sur la performance des indices de marché dits « low carbon ». (…)
Copyright Les Echos [Texte Intégral]

Financial News (07/12/2015) 
Managers hope smart beta will deliver profits 

"(...) Eric Shirbini, global product specialist at ERI Scientific Beta, the indexing venture launched by Paris-based academic institution EDHEC-Risk Institute, said: “We’ve seen products launching at very low fees – at cost or perhaps even slightly below – just to attract assets.” This is generally good news for investors but there is a danger that providers develop more complex products just to maintain their margins. (...)" 
Copyright Financial News

[NOVEMBRE]
L’Agefi Hebdo (05/11/2015)
L’offre « smart beta » révolutionne les pratiques des gérants passifs

(…) Vendre un ETF S&P 500, MSCI World ou CAC 40, « revenait à commercialiser un indice connu et reconnu, soit une marque, en quelque sorte », compare Noël Amenc, professeur à l’Edhec-Risk Institute et directeur général d’ERI Scientific Beta. (…)
Copyright l'Agefi Hebdo [Texte Intégral]

Le Monde (10/11/2015)    
Ces écoles qui misent sur la distinction 

"(…)  L’EDHEC-Risk Institute, institut de recherche sur la finance, a fait sa réputation. « C’est grâce à cette expertise que le gouvernement singapourien nous a choisis pour implanter un campus d’excellence et un centre de recherche en la matière à Singapour [en 2011] », explique Olivier Oger, directeur de l’EDHEC. (…)" 
Copyright Le Monde [Texte Intégral]

L'Agefi Suisse (16/11/2015)    
ERI Scientific Beta: performances octobre 

"(...) Le mois d’octobre n’a pas épargné les stratégies indicielles smart beta, souligne l’équipe de l’ERI-Scientific Beta (de l’EDHEC-Risk Institute), dans leur rapport de performance pour le mois dernier. Cela dit, les stratégies factorielles continuent de surperformer les indices capi-pondérés... (...)"
Copyright l'Agefi [Texte Intégral]

Institutional Asset Manager (20/11/2015)
EDHEC Risk raises concerns on regulation of financial benchmarks

(…) EDHEC Risk has issued a statement that it “regrets that the future text on European regulation of benchmarks organises opacity in the index provision market”. (…)
Copyright Institutional Asset Manager

Option Finance (30/11/2015)
Les sociétés de gestion mettent l'accent sur le risque environnemental

(…) « En France, nous disposons de nombreux acteurs pointus dans l'analyse des émissions de carbone, relève Noël Amenc, professeur de finance à l'Edhec et directeur de l'Edhec Risk Institute. Cela tient à l'implication des sociétés de gestion françaises dans l'ISR. L'analyse des émissions de carbone en constitue un prolongement naturel. » (…)
Copyright Option Finance [Texte Intégral]

[OCTOBRE]
Top 1000 Funds (02/10/2015) 
Beyond backtests: considering the robustness of smart beta 

Article by Felix Goltz, head of applied research, EDHEC-Risk Institute, Research Director, ERI Scientific Beta 
Copyright Conexus Financial Pty Ltd. [Texte Intégral]

The Business Times (21/10/2015) 
Tharman unveils 3 initiatives to draw institutions to infrastructure 

"(...) Secondly, Singapore wants to develop benchmarks, data and analyses of performance and risks that institutional investors need to make infrastructure investment decisions. For instance, EDHEC, a French business school with a Singapore arm, has done fundamental research on infrastructure asset pricing, and is in the process of creating usable performance benchmarks for long-term infrastructure debt and equity instruments. (...)" 
Copyright Singapore Press Holdings Ltd. [Texte Intégral]

 
 

 

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