TOBAM Dashboard: Maximum Diversification vs Minimum Volatility – more of the same or truly different?

Diversification Dashboards, Publications, ResearchLeave a comment

We are delighted to share with you our recent research piece: “Maximum Diversification vs Minimum Volatility”. You can download the piece below. After mounting evidence of the risks involved in investing in a concentrated, inefficient, biased, and poorly constructed market capitalization weighted index, investors are (yet again) increasingly turning towards the alternative weighting schemes also…

TOBAM Dashboard: Implementing Paris Aligned Portfolios

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Responsible investing is an important topic since the very beginning for TOBAM. After introducing exclusion lists in 2007, becoming signatory of the UN PRI in 2010 and subsequently adding each year additional dimensions to our responsible investment policies and practices such as carbon footprint constraints and fossil fuel free portfolios, we decided two years ago that it was time now to address the next big topic, which is an enhanced integration of “E”nvironmental, “S”ocial, and “G”overnance dimensions into our portfolio construction process.

Designing a sustainability footprint based on company reported data

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Responsible investing is an important topic since the very beginning for TOBAM. After introducing exclusion lists in 2007, becoming signatory of the UN PRI in 2010 and subsequently adding each year additional dimensions to our responsible investment policies and practices such as carbon footprint constraints and fossil fuel free portfolios, we decided two years ago that it was time now to address the next big topic, which is an enhanced integration of sustainability dimensions into our portfolio construction process.

Is the Concentration Cycle Coming to An End?

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The first half of 2022 turned out totally different from what most inventors had anticipated in the beginning of the year – this shows yet again that trying to predict asset prices is everything but an easy exercise.

I this note, we do not aspire to make predictions about the future. Instead, we provide an interpretation of the most recent evolutions in markets that focuses on the observation of cycles of concentration and deconcentration; after a long period of record market concentration, equity market experienced a first mean reversion since the beginning of the year. Even more interestingly, we argue why this first mean reversion still leaves a lot of room for a massive reduction of the still high market concentration.