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Toronto Globe and Mail, May 22, 2008, "Hedge fund crowd picks up the slack for beaten-down pension managers." The article noted that "Boston-based Acadian Asset Management rode an expertise in long-short hedge fund strategies and a global outlook to a 47.4-per-cent increase in assets, cracking the top 40 for the first time with $4.6-billion of Canadian pension funds."
MoneyManagement.com, May 19, 2008, "A stellar year for Acadian." This Australian publication noted that Acadian's Australian Equity Long Short strategy achieved the winner's circle of the Hedge Funds (Long Short Australia Equities) category of this year's awards.
Pensions & Investments, May 12, 2008, "Cutting Edge Academics." Acadian consultants Malcolm Baker and Jeffrey Wurgler were featured in this piece on the intersection of academia and finance. The article noted the team's pioneering work on "sentiment beta," a measure of the sensitivity of stocks to investor sentiment.
Pensions & Investments, May 12, 2008, "Quants still have place -- even in volatile markets." Acadian President Ron Frashure penned this opinion piece which notes in part: "Typically, the debate is framed in the context of managers that use a quantitatively based process vs. managers that use a traditional fundamental process. In my view, this is an artificial divide that tends to obscure the important point of what constitutes excellence in an investment management approach regardless of the label pinned on it."
Institutional Investor, April 15, 2008, "Doubt of Africa -- The Buy Side - The Key In The Lock?" Acadian's head of emerging markets debt John Peta was quoted as saying "This is a business where investors like to invest where others have gone before." He noted emerging-markets debt remains a relatively underutilized option for many institutional investors.
Financial Times, April 6, 2008, "How to play safe before the Next Big Thing." Discussing low-volatility strategies, Acadian CIO John Chisholm commented, "They're not meant to match liabilities but, to the extent that equities have a place in LDI portfolios, low-volatility strategies should be a great substitute for conventional index funds."
Dow Jones Newswire, March 28, 2008, "Acadian Off Beaten Path In Emerging-Market Debt." John Peta noted, "There's a lot of interest in the asset class. Credit quality continues to improve." He added that emerging countries also have shown resilience amid a credit-market deterioration in the U.S.
Wall Street Journal, March 31, 2008, "U.S. Stocks Are Doing Better Than Most." Ron Frashure was quoted in this article and noted that several markets "seem to have gotten quite a bit ahead of themselves, like China and India."
CNBC, March 11, 2008, "Emerging From Emerging Markets." In this interview Acadian CIO John Chisholm said that he thinks it may be time for investors to emerge from some of the more popular emerging markets. "We've become a lot more cautious on emerging markets in the last year," he told CNBC. We still think there are good investments in the emerging markets, but we don't expect nearly to see the same kind of return for the next five years that we've seen for the past five years."
Money Management Letter, March 12, 2008, "Analytic Investors Backs Long/Short." Raymond Mui, senior vice president at Acadian, noted in this article that going short allows managers to realize returns from their negative views on securities and as a result deliver more consistent performance than long-only portfolios.
New York Times, February 24, 2008, “A Sign of Hope for Stocks." This article focused on research suggesting that in past periods when stocks were overvalued, companies greatly preferred equity over debt and vice versa. The reporter interviewed Acadian consultants Malcolm Baker and Jeff Wurgler (finance professors at Harvard Business School and New York University respectively).
Barron's, January 28, 2008, "The Great Submergence." John Chisholm provided a cautious outlook for the emerging markets over the next three to six months, particularly for larger, highly extended markets such as China and India.
Wall Street Journal, December 16, 2007, "How to Beat the Next Bubble." Terry Burnham commented on crowd-following behavior and its impact on investments.
Business Week, December 10, 2007, "High Returns -- and Low Volatility?" Charles Wang discussed the investment potential of African stock markets, noting "This kind of growth and diversification are a free lunch."
Wall Street Journal, November 21, 2007, "A Nervous Investor's Guide to Overcoming Market Jitters." Terry Burnham discussed the biological basis for market risk aversion. "We're built to do exactly the wrong thing," he commented.
Journal of Indexes, October 1, 2007, "MSCI Considers a New Frontier." Acadian's Constantine Papageorgiou discussed frontier markets and commented, "As…emerging markets have matured, as they have received more and more foreign investor interest, the correlations between emerging and developed markets have increased over time. Although they do provide some diversification for portfolios, they're certainly not the great diversifiers they were 15 years ago or so." He also noted, "It's entirely possible that there are certain anomalies or inefficiencies that may exist in the frontier markets that have been traded away in the developed or emerging markets over time."
Investment News, September 10, 2007, "Investing in Africa: Is now the time to jump In?" John Peta commented, "We're now buying sovereign bonds from Egypt, Nigeria, Ghana and Uganda…Many have only become available in the last year and a half."
Pensions & Investments Online, September 6, 2007, "Web Extra: Changes Ahead."
FundFire, August 30, 2007, "Emerging Markets Surge May Force Rebalancing." Churchill Franklin spoke about the emerging and frontier markets and the widespread closure of the best-performing funds and strategies.
Dow Jones Newswires, August 20, 2007, "UPDATE: Emerging Mkt Assets Trade Sideways As Jitters Remain." "It is rarely a good decision to react to sudden events due to fear," said Acadian's Charles Wang.
Pensions & Investments, August 20, 2007, "Alaska Permanent Fund."
Investment Management Weekly, August 20, 2007, "Alaska Perm. Fund Hires New Managers."
Anchorage Daily News, August 17, 2007, "Inside Alaska Business."
Money Management Letter, August 13, 2007, "Acadian Launches Domestic All-Cap 130/30." (PDF)
Christian Science Monitor, August 13, 2007, "Could red-hot foreign markets burn out?" John Chisholm noted that market returns from abroad still look relatively favorable, if not as stellar as in recent years. From a returns perspective, Mr. Chisholm commented, "there still is a reason to stay invested" overseas.
Barrons, July 30, 2007, "Is the Bloom off Emerging Markets?"
Wall Street Journal, July 30, 2007, "Stock Declines Spur New Look At Risk Picture --- With Returns Thinning, Emerging Markets No Longer as Attractive." Ron Frashure noted that the broad-based rally in global stocks of the past few years "largely leveled the playing field…Table-thumping opportunities elude our vision."
Institutional Investor, July 11, 2007, "MONEY MANAGEMENT - Who Says It Doesn't Grow on Trees?"
Wall St. Journal, July 11, 2007, "Why Your Paycheck Is Really a Bond."
Dow Jones Business News, July 10, 2007, "DUE DILIGENCE: CORRECT: Old Mutual Targets New Funds As U.S. Expansion Mounts."
LiveMint.com, July 5, 2007, "US portfolio managers lukewarm about India." "India is one of the most expensive emerging markets," said Charles Wang. "You need breadth and depth to make it more stable. The India market is quite a risky market in our view."
Pensions & Investments, June 25, 2007, "Profiles of the top 50 international/global managers."
Insurance Asset Manager, June 2007, "The Risk-Return Advantages of Low-Volatility Equity Portfolios."(PDF)
Europe
Novecon Information Agency, August 21, 2007, "ACADIAN Becomes Major MTS Minority Shareholder."
AFX News, August 21, 2007, "Moscow shares TFN at a glance outlook."
Australia/New Zealand
Australian Associated Press, July 23, 2007, "Media Release: Colonial First State."
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