Crash Risk - Hedgers Versus Harvesters

Almost all investors hold significant crash exposure in their portfolios. While crashes are potentially devastating events, that very danger is also likely a major source of the risk premia that attract investors to equities and other risky assets in the first place.

Acadian Diversified Alpha

Diversified Alpha is a global absolute return strategy that seeks to generate modest positive returns in most market environments, with low correlation to a variety of asset classes.

GLMN Risk Management

Acadian’s investment objective for the Global Levered Market Neutral (GLMN) strategy is to derive the majority of return from market-agnostic stock selection, driven by optimal exposures to our fundamental and technical drivers of equity returns.

Valuations of Low Beta Stocks

Careful analysis of valuation data reveals that recent changes in the relative valuation of low-risk and high-risk stocks are principally attributable to the gradual unwinding of the extraordinary valuations of high-beta stocks in 2000.