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This white paper describes what CLOs are and how they fit into the broader basket of financial structured products. Keeping in mind that the arena of structured credit has changed much over the past couple of years, this paper refers to a 2006 CLO structure to describe the essentials of CLO structures. Bank loans are briefly described, follow...

BlackRock's latest quarterly guide includes the price tickers, index tickers, annual total expense ratios, dividend policy, fund structure, assets under management and websites for index providers and exchanges around the globe, enabling investors to compare the various exchange-traded funds available.

Deutsche Bank researchers address four questions in this study of responsible investments: How are these investments different from more conventional forms of investment? What products are available? Do sustainable investments offer lower returns? How will the market for sustainable investments evolve?

While the merits of investing in convertible securities have been exhibited over time, the market is particularly compelling today. Convertibles offer much better risk/reward characteristics than equities, with stronger appreciation over the intermediate and long term but at meaningfully lower levels of risk and volatility.

The authors offer insight into how to minimize the down side and maximize recovery in failed investments by providing an initial framework to ensure the right alternatives are identified and evaluated and the most appropriate courses of action are selected.

As states have struggled with the fall-off in tax revenues from the financial crisis and ensuing recession, they have experienced very difficult budgeting processes. Despite these difficulties, almost all the states began the 2011 fiscal year with improving budgets.

In the first of a two-part series, the author defines the various types of investment styles and strategies of long/short equity managers, as well as explores their portfolio construction characteristics and techniques.

Investment innovation and rigorous discipline; dynamic, seamless planning; and a different quality of client-advisor engagement will be key to the achievement of long-term objectives for wealth accumulation, protection, spending and transfer as well as to peace of mind.

While oil prices are likely to be range-bound across the next few years, natural gas prices are establishing new, higher support levels after experiencing multi-year lows. Natural gas prices are likely to get a boost from politics as well as the weather and speculation.

Heritage Finance & Trust Company, Geneva, Switzerland, was founded in 1986 in Switzerland as a single family office providing financial advisory and portfolio management services. Over time, Heritage has evolved into a multifamily, multi-client office as it has seen demand for its services increase from an extended circle of family members and thei...

This paper examines the gap between the theory of portfolio construction and its practice. In particular, it analyzes some of the problems in the application of portfolio optimization techniques to individual investors and identifies ways to compensate for the theory's shortcomings.

In this issue of Eton’s Investment Outlook, the firm describes how Modern Portfolio Theory has ruled the financial seas for the past 60 years, its shortcomings, and why they view goals-based investing as a better framework.

The goals-based investing framework utilizes Abraham Maslow's “hierarchy of needs” approach by defining, quantifying and prioritizing financial goals across multiple family generations. The brilliance of this process is that it recognizes something very fundamental about our financial behavior: We assign different levels of priority to different go...

Understanding the exposures involved with direct private equity investing as well as the insurance solutions to address those exposures is essential when implementing a direct private equity investment strategy for family offices.

Each investor—whatever his or her background, experience or training—should employ a systematic protocol in the pursuit of growth and stability. An investment process should embody an investment philosophy. Grounded by best practices, this philosophy should stem from a set of beliefs that prescribe how to generate superior risk-adjusted returns in ...