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  • Transaction Cost Analysis: Has Transparency Really Improved?

    Transaction cost analysis (TCA) awareness is on the rise, with equity and bond investors increasingly recognising trading as a key area of leakage.

  • Asset Owner Survey: Investors’ Costs and Fees

    Investors are grappling with cost management challenges amid persistent inflation, heightened ESG requirements and regulatory burdens. To find out more, bfinance surveyed nearly 200 asset owners

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  • Investment Management Fees: Capturing Price Evolution

    The latest edition in bfinance’s biennial Investment Management Fees series. New analysis highlights areas where investors may be able to benefit from pricing trends, with ESG/Impact at the

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  • Wealth Manager Investment Survey

    A new study, featuring data from 120 wealth managers around the globe, identifies significant changes in investment capabilities, ESG integration and strategy.

  • Asset Owner Investment Vehicles - Sector in Brief

    More investors are launching a dedicated investment vehicle to house assets rather than investing in a wide range of pooled funds, separately managed accounts or ‘funds-of-one’. Find out more

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  • China A-Shares: Sector in Brief

    Amid the escalating US/China trade war, no asset class has endured more collateral damage than Chinese equities. Yet active managers have delivered stronger results. This brief research note

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  • Securitised Credit: Sector in Brief

    Securitised credit is attracting heightened attention from investors in the ‘lower for even longer’ climate. Read about the latest developments and available investment strategies, including a

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  • Real Asset Debt: Lessons from Manager Selection

    With a wave of pension and insurance investors entering real estate debt or infrastructure debt for the first time, three “DNA of a Manager Search” case studies provide practical insights into an

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  • How Can Trustees Ensure Value for Money?

    How can pension fund trustees provide effective governance on the subject of cost? Ensuring value for money is central to fulfilling fiduciary duty.

  • Tackling Hidden Costs in FX Management

    All investors experience significant – and often hidden – performance erosion as a result of routine FX trading, whether it’s carried out directly or via external parties. What’s the true cost,

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  • Railpen Pursues Smart Insourcing

    In 2019, RPMI Railpen insourced the majority of factor investing strategies in its equity management programme. It is the latest milestone in a five-year journey towards understanding value for

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  • Investment Management Fees: Is Competition Working?

    The latest edition in bfinance’s biennial Investment Management Fees series. New analysis highlights areas where investors may be able to benefit from pricing trends, with ESG/Impact at the

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  • What Does “Paying for Alpha” Really Mean?

    “Paying alpha fees for beta performance” has become an investor bugbear. This has created a need to differentiate more carefully between outperformance derived from established risk factors and

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  • Insurer Pioneers New Model for Investment Delegation

    Amid the trend towards outsourced investment models such as fiduciary management, outsourced CIO (“OCIO”) and implemented consulting, Coface has developed a different approach – one that lets

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  • Tackling Hidden Costs in US Private Debt

    Private debt investors are increasingly turning towards US opportunities. Yet the structures used by managers can create substantial undisclosed leakage for clients.

  • REITs - Sector in Brief

    Noting a rise in client demand for REITs, we explore some of the recent developments in this sector and highlight key implementation considerations.

  • On the Hunt for Liquid Alternatives

    Diversification is a very personal property. The definition of a good diversifier varies with each investor’s existing exposures, liquidity profile and risk tolerance, as well as the market

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  • DNA of a Manager Search: Infrastructure

    The latest edition in bfinance’s biennial Investment Management Fees series. New analysis highlights areas where investors may be able to benefit from pricing trends, with ESG/Impact at the

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  • DNA of a Manager Search: Commodities

    Commodity investment is back in the spotlight. This paper – part of the DNA of a Manager Search series – explores one pension fund’s hunt for an enhanced commodity overlay manager. We hope that

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  • Rethinking Real Assets

    While the post-GFC phase was marked by diversification towards real assets, recent years have seen greater emphasis on diversification within real assets. How beneficial is this type of

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