Investment Insight
The Challenges and Opportunities in U.S. Small Cap in 2025
2025 was a tough year for U.S. small-cap managers, driven by exposure to unprofitable Russell 2000 firms. Non-earners aren’t one group: some ...
Research
PanAgora’s experts are committed to providing innovative research through theory and practice. We invite current and prospective clients, as well as consultants, to benefit from the fruits of our theory and practice through our quantitative investing research.
Search Publications
Investment Insight
Modern Extension Strategies: Determining Efficient Leverage in Today’s Environment
Extension strategies are widely viewed as a way to improve portfolio efficiency, but the question of how much leverage to use is ...
Investment Insight
Behind the Recent Broad-Based Rise in Quant Strategies
Quantitative strategies have recently performed well, though for different reasons. This paper examines how today’s broad-based results stem from two distinct ...
Investment Insight
The Rapid Adoption of the Chatbot and Acceptance of Quantitative Investing
On November 30, 2022, OpenAI made ChatGPT available to the public as a part of a free research preview. Two months later, ChatGPT reached 100 ...
Investment Insight
The Many Flavors of Quant
In this paper, George Mussalli, Global Chief Investment Officer, examines idiosyncratic-oriented quantitative strategies, noting their varied approaches and low correlations. These characteristics ...
Investment Insight
A “Sharpe” Look at Defensive Growth: Building from First Principles
Defensive Growth strategies are often viewed as empirical anomalies rather than outcomes of sound portfolio design. This paper examines Defensive Growth through ...
Journal Publication
Macro Tailwinds for the Resurgence of Active Investing
In this paper, Dr. Eric Sorensen outlines research findings suggesting that active investing may have the potential for a resurgence, particularly within ...
Investment Insight
A Smarter Way to Take Equity-Like Risk
Investors seek equity-like returns but often remain concerned about large drawdowns. This paper examines alternative portfolio constructions designed to maintain upside participation ...
Investment Insight
Rethinking Active – The Case for Low Tracking Error Managers
Given their poor track record, many dismiss active management in US large caps. But our analysis suggests the issue is not active ...