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S&P Dow Jones Indices Constructs Risk Parity Indices

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S&P Dow Jones Indices, a division of S&P Global, launched a set of risk parity indices that are aimed to replicate a multi-asset risk parity strategy. The company is calling them the S&P Risk Parity Indices – with three indices being introduced: S&P Risk Parity Index – 10% Target Volatility, S&P Risk Parity Index – 12% Target Volatility, and S&P Risk Parity Index – 15% Target Volatility. S&P Dow Jones Indices worked with MSR Indices, part of MSR Investments, on building these indices. Before these indices, many asset managers used the traditional benchmark of a 60/40 portfolio of stocks and bonds to measure the relative performance of risk parity funds.

The introduction of these indices could allow lower cost risk parity options for practitioners of this strategy. Many asset managers that sell risk parity products like AQR and Bridgewater Associates often charge fees a bit higher than traditional equity products for these types of services.

“Through the S&P Risk Parity Indices, risk parity funds and its managers for the first time can compare performance to a benchmark that embodies the risk/return and asset allocation characteristics of this frequently-used strategy,” said Vinit Srivastava, Managing Director, S&P Dow Jones Indices, in a press release.

Calamos Investments to Acquire Timpani Capital Management

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Naperville, Illinois-based Calamos Investments signed a deal to acquire Milwaukee-based Timpani Capital Management LLC, which focuses on small and small-midcap growth investing. Founded in April 2008, Timpani Capital Management oversees around US$ 588 million in assets. The deal is expected to close in the second quarter of 2019.

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RDIF and Russia-Japan Investment Fund to Invest in Russian Subsidiary of SBI Holdings

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The Russian Direct Investment Fund (RDIF) and the Russia-Japan Investment Fund (launched by RDIF, the Japan Bank for International Cooperation and JBIC IG Partners) have reached an agreement with the Japanese corporation SBI Holdings to invest in SBI Bank LLC, SBI Holdings’ subsidiary in Russia. SBI Bank LLC will undergo a large-scale reorganization.

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Ocasio-Cortez and Maxine Waters to Oversee US Banking System via House

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The youngest woman ever to serve in U.S. Congress – starting at the age of 29 – already has an opponent in her sights. Freshman U.S. Representative Alexandria Ocasio-Cortez, often dubbed AOC on Twitter, was appointed to the House Financial Services Committee, where the democratic socialist will oversee Wall Street. This committee oversees the banks and financial institutions of the United States. With Republicans controlling the U.S. Senate and the White House, and the Democrats controlling the House, one can expect less game-changing bills being turned into laws in the banking sector.

While bartending and waiting tables at the Flats Fix taco bar in Union Square, Ocasio-Cortez upset the more centrist Representative Joe Crowley, Chairman of the House Democratic caucus. Encouraged by her success, other far left democrats are planning to challenge moderate democrats in the 2020 primaries. Ocasio-Cortez is also expected to further strengthen the influence of Chairwoman Maxine Waters of the House Financial Services Committee. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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