Inflation is a problem for the first time in decades, and yields have risen rapidly after consistently falling for years. This challenging new environment warrants…
Zephyrus PartnersAugust 1, 2022
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This short paper considers the changes in the regulatory framework, their potential impact on corporate activity in the UK and implications for strategy.
Zephyrus PartnersJune 30, 2022
One of the most prevalent themes we have seen coming from investment consultants recently has been credit-based strategies. This can be explicitly under the umbrella…
Zephyrus PartnersJanuary 20, 2022
Environmental, Social and Governance (“ESG”) factors represent a new focus for pension schemes, given the rising ethical considerations and increasing regulatory requirements
Zephyrus PartnersSeptember 3, 2021
Many of our previous papers have focussed on portfolio diversification and how this can be achieved by outsourcing to carefully selected risk-parity or diversified growth…
Zephyrus PartnersJuly 8, 2021
The rapid rise to prominence of fiscal stimulus in 2020 is unlikely to be temporary. Monetary policy is no longer enough to stimulate economies by…
Zephyrus PartnersApril 21, 2021
Many investors have been underwhelmed by multi-asset approaches over the last decade, particularly in comparison with very strong returns from simple equity and bond allocations
Zephyrus PartnersNovember 10, 2020
However, the detailed approach proposed by the Pensions Regulator (“tPR”) in its recently closed first consultation on a new Funding Code appears designed to increase…
Zephyrus PartnersOctober 13, 2020
This paper aims to summarise why the primary method used to stimulate economies is changing from a monetary to fiscal approach
Zephyrus PartnersOctober 12, 2020
As parts of the world are still going through the Covid pandemic, the path and timing of the recovery remains very much uncertain
Zephyrus PartnersJuly 29, 2020
In this month’s market update, we focus on the past performance of UK assets relative to the rest of the world
Zephyrus PartnersJuly 3, 2020
In this paper, we describe an original yet extremely simple investment method which brings together our best discoveries and could form the core foundation of…
Zephyrus PartnersOctober 16, 2019
As many pension plan sponsors approach the year-end, they are being told by their actuaries and auditors to expect a P&L charge for “GMP Equalisation”…
Zephyrus PartnersNovember 29, 2018
It is now widely accepted that rates of improvement in mortality have slowed, making longevity harder to predict for sponsors and trustees. As this change…
Zephyrus PartnersMay 30, 2018
Equities have traditionally been the investment of choice for investors looking to generate growth/real returns over the long term. The typical expectation, supported by historical…
Zephyrus PartnersMay 30, 2018
Diversification is often not well understood and many interpretations abound. It is also rarely measured or quantified effectively so that any proposal to improve diversification…
Zephyrus PartnersFebruary 7, 2018