Overlays are investment strategies that use derivative instruments either to obtain, offset or substitute for certain portfolio exposures beyond those provided by the physical investment portfolio.
For most pension plans, Overlays are strategies that are taken at the plan level and used to address specific risks that cannot effectively be addressed through asset allocation process. Although traditionally overlays were implemented to capture specific opportunities (portable alpha) they are increasingly been used to manage risk and keep the plan’s portfolio in line with investment policy objectives.
Join us for this webinar where Nicolas Papageorgiou will discuss the Key equity overlay strategies including, equitization, portfolio re-balancing (threshold, calendar and risk based rebalancing strategies) and tail risk hedging.
• How key equity overlay strategies are implemented - Equitization - Portfolio re-balancing (threshold, calendar and risk based rebalancing strategies) - Tail risk hedging • Which financial derivative products are used within these strategies • Which operational issues need to be addressed in order to implement these strategies
Nicolas Papageorgiou, Associate Professor of Finance Nicolas Papageorgiou is Associate Professor of Finance at HEC Montreal. He is also Director of Quantitative Research at BrockhouseCooper where he works with the Advisory Services team to introduce innovative and customized investment solutions to clients. From 2006 to 2009, he was Director of Research at Desjardins Global Asset Management, where he was responsible for developing and implementing risk management, hedge fund replication and alternative beta strategies. Prior to that, Dr. Papageorgiou was a consultant for the Hydro-Quebec pension fund. He is co-founder and Managing Director of ReplicQuant, a financial engineering firm that develops proprietary financial software focusing on quantitative strategies and risk management solutions. He has published articles in leading academic and practitioner journals and has presented his research at numerous conferences worldwide.
This webinar is FREE of charge for CPBI members and offered at $50 + taxes for non-members.