White papers

Each year our experts publish white papers articulating our views on the issues shaping investment thinking. For more information, please write to AM.Contacts@bnpparibas.com.

FOR PROFESSIONAL INVESTORS ONLY

2017

The Nordic Cluster: Leading in innovation and growth
Date:
September 2017
Authors:
Cristina Lugaro

Decomposing funding-ratio risk: Providing pension funds with key insights into their liabilities hedge mismatch and other factor exposures
Date:
Summer 2017
Authors:
Erik Kroon, Raul Leote de Carvalho, Anton Wouters

2016

The case for listed real estate in a multi-asset portfolio
Date: May 2016
Authors: Xiao Lu, Raul Leote de Carvalho, Majdouline Zakaria, Shaun Stevens, Jan Willem Vis

Uncloacking cape: a new look at an old valuation ratio
Date: March 2016
Authors: Thomas Philips, Cenk Ural

Choices to address foreign currency exposure
Date : March 2016
Authors : Momtchil Pojarliev

The Equities Debate
Date : January 2016
Authors : Guy Davies, Simon Roberts, Raul Leote de Carvalho, Jacky Prudhomme, Guido Stucchi

2015

Evolving forms of Smart Beta, from indexation to factor investing
Date : August 2015
Authors : Raul Leote de Carvalho

Going Mainstream with ESG
Date: July 2015
Authors: Edwin Simon, Dirk Molenaar

Decomposing Funding Ratio Risk
Date: May 2015
Authors: Raul Leote de Carvalho, Erik Kroon, Anton Wouters

The Theory of Low Volatility Investing
Date : April 2015
Authors :Thomas Heckel, Raul Leote de Carvalho

Portfolio Insurance with Adaptive Protection
Date : May 2015
Authors : François Soupé, Thomas Heckel, Raul Leote de Carvalho

A Discretionary Approach to Currency Investing
Date : April 2015
Authors : Adnan Akant

2014

Low-risk anomaly everywhere : Evidence from equity sectors
Date : October 2014
Authors : Raul Leote de Carvalho, Majdouline Zakaria, Xiao Lu, Pierre Moulin

Corporate Credit Limits For Fixed Income Portfolios
Date : October 2014
Authors : Miikka Tauren, Thomas Philips

Forecasting U.S. Bond Returns: A Practitioner’s Perspective
Date : April 2014
Authors : Georges Mylkinov

Low-Risk Anomalies in Global Fixed Income
Date : Spring 2014
Authors : Raul Leote de Carvalho, Patrick Dugnolle, Xiao Lu, Pierre Moulin

Dynamic Liability-Driven Investing Strategy: The emergence of a new paradigm for pension funds ?
Date : February 2014
Authors : Saad Badaoui, Romain Deguest, Lionel Martellini, Vincent Milhau

Smotthing your dide: how managing risk can lead to higher returns
Date : January 2014
Authors : Raul Leote de Carvalho, Romain Perchet

2013

Emerging Market Equities: Does Faster Growth Translate into Higher Returns ?
Date : June 2013
Authors : Raul Leote de Carvalho, Claire Méhu, Chris Jeffrey, Joost van Leenders

Multi Alpha Equity Portfolios
Date : May 2013
Authors : Pierre Moulin, Xiao Lu, Raul Leote de Carvalho

Hedging versus Insurance: Long-Horizon Investing with Short-Term Constraints
Date : February 2013
Authors : Romain Deguest, Lionel Martellini, Vincent Milhau

2012

Determining a Strategic Asset Allocation in a Solvency II framework
Date : November 2012
Authors : Pierre Moulin, Thomas Heckel, Anne Poirrier-Hamon, Anton Wouters, Zine Amghar, Sophie Debehogne

Towards Second Generation Equity Risk-Based Strategies
Date : October 2012
Authors : Pierre Moulin, Raul Leote de Carvalho, Xiao Lu

Demystifying Equity Risk-Based Strategies: a simple Alpha plus Beta description
Date : March 2012
Authors : Pierre Moulin, Raul Leote de Carvalho, Xiao Lu

Dynamic Investment Strategies for Corporate Pension Funds in the Presence of Sponsor Risk
Date : February 2012
Authors : Lionel Martellini, Vincent Milhau, Andrea Tarelli

2011

Simple and Robust Risk Budgeting with Expected Shortfall
Date : October 2011
Authors : Thomas Phillips, Michael Liu

An Integrated Approach to Asset-Liability Management: Capital Structure Choices, Pension Fund Allocation Decisions and the Rational Pricing of Liability Streams
Date : June 2011
Authors : PLionel Martellini, Vincent Milhau

Explicit coupling of informative prior and likelihood functions in a Bayesian multivariate framework and application to a new non-orthogonal formulation of the Black-Litterman model
Date : January 2011
Authors : Raul Leote de Carvalho, François Ogliaro, Robet K Rice, Stewart Becker

2010

Measuring the Benefits of Dynamic Asset Allocation Strategies in the Presence of Liability Constraints
Date : March 2009
Authors : Lionel Martellini, Vincent Milhau