Gray Rectangle

Insights & Research

Parametric is widely recognized as a thought leader in engineered portfolio management. Below is a sampling of our writings across a variety of topics. Use the filters to search for specific content or authors.

Loading...
Content Type
All Types
{{type | limitTo:maxLabelLength}} ... - {{ (filteredPapers | filter:query | filter:count('type', type)).length }}
Solutions
All Types
{{solution | limitTo:maxLabelLength}} ... - {{ (filteredPapers | filter:query | filter:count('solution', solution)).length }}
Investor Type
All Types
{{audience | limitTo:maxLabelLength}} ... - {{ (filteredPapers | filter:query | filter:count('audience', audience)).length }}
Author
All Types
{{author| limitTo:maxLabelLength}} ... - {{ (filteredPapers | filter:query | filter:count('author', author)).length }}
x {{filter}} Clear All Filters
{{paper.title}}
{{typeItem}}{{$last ? '' : ', '}}
{{paper.title}}
By {{paper.author}} , {{paper.authorQualification}}
{{paper.date}}
{{paper.description}}
Tags: {{tag}}{{$last ? '' : ', '}}
No papers found matching the selected criteria

/-/media/Project/Parametric/Shared/Banners-and-Images/Papers/AUS/2019/Institutional-Case-for-IPO-Participation-Web-Banner.png
Page
Anecdotes Versus Evidence: The Institutional Case for IPO Participation
Mahesh Pritamani
PhD, CFA
March 5, 2019
IPOs make for splashy news stories, but are they right for super funds? This paper looks beyond the sensational anecdotes and delves into the data.
Whitepaper|
Institutional Investor|
Read Now
/-/media/Project/Parametric/Shared/Banners-and-Images/Papers/AUS/2019/After-tax-returns-Banner_2560x500.jpg
Page
After-Tax Returns: Filling In the Productivity Commission’s Report
Raewyn Williams
January 18, 2019
In its 2018 report the Productivity Commission laments the lack of tax management in super fund members’ accounts. But how much is it really costing? We calculate the effect.
Whitepaper|
Institutional Investor|
Read Now
/-/media/Project/Parametric/Shared/Banners-and-Images/Products/Solutions-Banners-AUS/Centralised-Portfolio-Management-Banner.jpg
Page
Benefits of Centralised Portfolio Management for Super Funds
Jared Gray
CFA
October 1, 2018
Parametric's Director of Centralised Portfolio Management (CPM), Jared Gray, discusses the benefits of CPM for Super Funds.
Video|
Centralised portfolio management|Tax management|
Institutional Investor|
Watch Now
/-/media/Project/Parametric/Shared/Banners-and-Images/Papers/AUS/2018/What_Should_Managers_Manage_Banner_2650x500.jpg
Page
What Should Managers Manage?
Raewyn Williams
August 14, 2018
The concept of after-tax investing is no longer a thing of the future - it’s here. The superannuation industry is now embracing it, with a small number of early moving funds leading the way.
Whitepaper|
Centralised portfolio management|Tax management|
Institutional Investor|
Read Now
/-/media/Project/Parametric/Shared/Banners-and-Images/Papers/AUS/2018/SARPTheFruitsofaCollaborativePartnershipAUS.jpg
Page
The Fruits of a Collaborative Partnership: A Parametric–Research Affiliates Case Study
Raewyn Williams
July 13, 2018
Superannuation funds partner with their members in a meaningful way. But the notion of partnership doesn't have to end there. Funds can work with other strategic partners who can bring immense benefit—and help them enhance their value to members.
Whitepaper|
Institutional Investor|
Read Now
/-/media/Project/Parametric/Shared/Banners-and-Images/Papers/AUS/2018/AUS-core-satellite-opt-blend-paper-web-banner.jpg
Page
Optimality Is in the Eye of the Beholder: The Science and Art of Equity Portfolio Construction
Mahesh Pritamani
PhD, CFA
July 2, 2018
Onshore or offshore? Developed or emerging? Active or passive? How much risk? It's one thing for a superannuation fund to determine the right equity-investing ingredients, but it's quite another to figure out how to achieve the right blend. In this paper, researched jointly with the Australian Catholic Superannuation and Retirement Fund, we look at ways to approach optimisation—and why portfolio construction is as much art as science.
Whitepaper|
Tax management|
Institutional Investor|
Read Now
/-/media/Project/Parametric/Shared/Banners-and-Images/Papers/AUS/2018/paper-sharper-tool-au-banner.jpg
Page
Defensive Equity: A Sharper Tool for Your Lifecycle Toolkit
Raewyn Williams
May 8, 2018
Our new research paper explains how super funds are using lifecycle strategies and explores the use of a ‘mid-step’ defensive equity allocation to improve retirement outcomes for lifecycle strategy members.
Whitepaper|
Defensive equity|Retirement|
Institutional Investor|
Read Now
/-/media/Project/Parametric/Shared/Banners-and-Images/Papers/AUS/2018/AUS-Fools-Gold-paper-2018.jpg
Page
Linking a Tax Efficient Super Fund Equity Portfolio
Paul Bouchey
CFA
January 25, 2018
We examine whether the benefits of tax efficiency in a super fund’s equity portfolio flow through to option unit prices which account for deferred taxes. If they do, this directly links portfolio-level tax efficiency to better retirement savings for members. If they don’t, then funds may be chasing “fool’s gold” by implementing after-tax focused equity management.
Whitepaper|
Tax management|Retirement|
Institutional Investor|
Read Now
/-/media/Project/Parametric/Shared/Banners-and-Images/Papers/AUS/2017/Status-Quo-Thinking.jpg
Page
Status Quo Thinking
Raewyn Williams
September 1, 2017
Our new research argues that superannuation funds need to mirror the restlessness of stakeholders (members, service providers, the government and regulators), to show they are focused on improving superannuation outcomes for members and navigating an uncertain future.
Whitepaper|
Institutional Investor|
Read Now
/-/media/Project/Parametric/Shared/Banners-and-Images/Papers/AUS/2017/Rolling-the-Tax-Dice-banner-AUS.jpg
Page
Rolling the Tax Dice - How Taxes Impact Equity Factor Investing
Raewyn Williams
September 1, 2017
Many investors believe that equity factor investing is naturally tax efficient. We address this misconception and show how super funds can reduce up to half the tax drag and preserve more factor outperformance.
Whitepaper|
Factor investing|Tax management|
Institutional Investor|
READ NOW
/-/media/Project/Parametric/Shared/Banners-and-Images/Papers/USA/2017/Understanding-Between-Screens-Tilts.jpg
Page
Responsible Investing in a Peer Sensitive World
Raewyn Williams
June 22, 2017
How does the use of superannuation capital align with the member’s own values? This demand as well as other factors influence whether funds choose to adopt a responsible investing solution.
Whitepaper|
Responsible investing-ESG|
Institutional Investor|
Read Now
/-/media/Project/Parametric/Shared/Banners-and-Images/Papers/AUS/2017/expanding-equity-horizons.jpg
Page
Expanding Equity Horizons: The Critical New Asset Allocation Decision
Tim Atwill
Ph.D., CFA
May 24, 2017
Australian superannuation funds stand out from their global pension fund peers in their appetite for equities and other growth assets.
Whitepaper|
Emerging markets|
Institutional Investor|
Read Now
/-/media/Project/Parametric/Shared/Banners-and-Images/Papers/AUS/2017/EM-Country-Tilts-Small-Cap.jpg
Page
Country Tilts in Small Cap Indexes
Mahesh Pritamani
Ph.D., CFA
May 1, 2017
In recent years, many investors have included separate allocations in their portfolio for small-cap stocks in international and emerging market equities. Typical benchmarks for these allocations are MSCI’s EAFE Small Cap Index and Emerging Markets Small Cap Index.
Whitepaper|
Emerging markets|
Institutional Investor|
Read Now
/-/media/Project/Parametric/Shared/Banners-and-Images/Papers/AUS/2017/black-box-AUS.jpg
Page
A New Risk Premium
Raewyn Williams
April 27, 2017
Best practice fiduciaries are empowered by portfolios which have systematic, transparent strategies rather than black boxes.
Whitepaper|
Defensive equity|
Institutional Investor|
Read Now
/-/media/Project/Parametric/Shared/Banners-and-Images/Papers/AUS/2017/EM-Construction-Issues.jpg
Page
Construction Issues in Emerging Market Small Cap Indexes
Tim Atwill
Ph.D., CFA
March 1, 2017
Increasingly, investors are looking to invest in emerging market small-cap equities as a separate allocation in their portfolios. This decision is to some degree motivated by the desire to capture a “small-cap premium”, the well-known theoretical notion that smaller capitalisation stocks show persistent outperformance versus large capitalisation stocks.
Whitepaper|
Institutional Investor|
Read Now
/-/media/Project/Parametric/Shared/Banners-and-Images/Papers/AUS/2017/EqPort-More-than-Sum.jpg
Page
Equity Portfolios: More Than The Sum of Their Parts
Paul Bouchey
CFA
March 1, 2017
Centralised Portfolio Management (CPM), as a way of equity investing, is a concept superannuation funds are curious about because of its startling assertion that the whole of an equity portfolio can be more than the sum of its parts.
Whitepaper|
Centralised portfolio management|Tax management|
Institutional Investor|
Read Now
/-/media/Project/Parametric/Shared/Banners-and-Images/Papers/AUS/2017/EM-Invest-Small-Cap.jpg
Page
Why Invest in Emerging Markets Small Cap Stocks
Tim Atwill
Ph.D., CFA
March 1, 2017
The notion of a “small-cap premium” has become deeply established in investors’ consciousness since its introduction by Fama and French in 1993. Over the years, many investors have included an explicit allocation to U.S. and international small-cap stocks in their portfolios in order to benefit from the implied outperformance of this segment of the market.
Whitepaper|
Emerging markets|
Institutional Investor|
Read Now
/-/media/Project/Parametric/Shared/Banners-and-Images/Papers/AUS/2017/Make-or-Buy-AUS.jpg
Page
What’s Really Transforming the Superannuation Value Chain
Raewyn Williams
February 1, 2017
Compulsory superannuation turns 25 this year and one exciting development is how superannuation funds no longer simply occupy their place in the broader ecosystem, but are actively reshaping this ecosystem.
Whitepaper|
Institutional Investor|
Read Now
/-/media/Project/Parametric/Shared/Banners-and-Images/Papers/AUS/2017/Para-Under-the-Spotlight-AUS.jpg
Page
Under the Spotlight: How Much Does it Cost to Trade Equities
Raewyn Williams
February 1, 2017
The ‘bread and butter’ investment activity of any large superannuation fund is the day-to-day trading that occurs within its equity portfolios.
Whitepaper|
Institutional Investor|
Read Now
/-/media/Project/Parametric/Shared/Banners-and-Images/Papers/AUS/2017/Fresh-Look-at-Franking-AUS.jpg
Page
A Fresh Look At Franking
Raewyn Williams
January 1, 2017
In our 2014 research, we delivered somewhat discouraging news to superannuation funds: That while franking credits attached to Australian equity dividends can be a meaningful source of extra returns, a deliberate tilt towards franking can also introduce significant risks into the portfolio.
Whitepaper|
Retirement|Tax management|
Institutional Investor|
Read Now
{F33BD959-1499-4857-91FB-3B0EF4ADCB43}

Loading...