Pooled Investment Vehicles: Innovative and Versatile

Pooled Products: Growth, Performance and Outlook

Pooled investment vehicles offer allocators innovative and cost-efficient ways to gain exposure to various asset classes which otherwise may be difficult to invest in. This selection provides professional investors with a number of key research papers that highlight crucial trends, important mechanics and in-depth analysis pertaining to a number of pooled products, such as ETFs, mutual funds and hedge funds, among others.

All Systems Go – The path to $5 trillion (BlackRock, 2022)

For compliance reasons, this paper is only accessible in the United States

Bond ETFs have been around for two decades now. This type of pooled investment product has changed the way investors gain exposure to credit instruments.

Survey: European ETF, smart beta & factor investing (EDHEC-Risk Institute, 2022)

In collaboration with asset management firm Amundi, EDHEC-Risk Institute looks at the key trends underpinning ETFs, Indexing and Smart Beta strategies.

Hedge Fund Investment in ETFs (2022)

Using data from U.S. ETFs from between 1998 and 2018, professors from Florida Atlantic University assess how these pooled vehicles have affected hedge funds' performance.

Interest Rates Hikes: Risk or opportunity for CTA strategies? (Candriam, 2022)

For compliance reasons, this paper is NOT accessible in the United States and Canada

CTAs seek to profit from moves in the global financial, commodity and currency markets by investing in derivatives. How will the change in Rho (interest rate risk) impact performance?

Credit Indices: Closing the fixed income evolutionary gap (SSGA | SPDR, 2022)

For compliance reasons, this paper is only accessible in the United States and Canada

Fixed income indices are data-driven and offer investors a cost-efficient way to gain exposure to credit instruments.

Reducing Liquidity Mismatch in Open‑ended Funds (Bank of England, 2022)

Open-ended funds can pose a risk to investors if there is a mismatch between redemptions and the liquidity profile of a fund's holdings.

Saudi Mutual Fund Performance during Covid-19 (Cogent Economics & Finance, 2022)

By applying the Fama and French five-factor model, this paper looks at how Saudi Arabia's mutual funds have performed during the Covid-19 pandemic.

Disagreement Exploitation & the Cross-Section of Hedge Funds Performance (2022)

Looking at headline figures of performance can be misleading. There is often a great deal of discrepancy when investors analyse what lies beyond these round numbers.

Mutual Fund Performance at Long Horizons (2022)

Do mutual funds beat the market? This paper seeks to answer the question by assessing U.S. mutual fund performance relative to the broader equity market over the long-term.

The Modern Endowment Story (Richard M. Ennis, 2022)

A close analysis of the performance of large endowments may lead investors to seriously question the efficacy of the so-called endowment model.

State Public Pension Fund Returns in Decline? (Pew Charitable Trusts, 2022)

For compliance reasons, this paper is only accessible in the United States

State pension funds need to generate enough returns to meet the policyholders' retirement needs. However, we know that many pension funds struggle to achieve this goal.