by Thomas Quinn and Bin Cheng | Apr 19, 2021 | Xponance® Insights
Over the past decade, our research has taken multiple in-depth looks at the exogenous drivers of what we think of as “alpha availability” among active managers.
by Sumali Sanyal and Cameron McLennan | Aug 2, 2022 | Xponance® Insights
With the growing popularity of ESG and the incorporation of ESG metrics in various investment strategies, the debate on whether ESG is a source of alpha or not continues.
by Thomas Quinn and Bin Cheng | May 18, 2021 | Xponance® Insights
View PDF | Print Version Over the past decade, our research has taken multiple in-depth looks at the exogenous drivers of what we think of as “alpha availability” among active managers. Our original work focused on smaller AUM managers’ ability to deliver relatively...
by Thomas Quinn and Bin Cheng | Oct 27, 2021 | Xponance® Insights
View PDF | Print Version Over the past decade, our research has taken multiple in-depth looks at the exogenous drivers of what we think of as “alpha availability” among active managers. Our original work focused on smaller AUM managers’ ability to deliver relatively...
by Sumali Sanyal and Cameron McLennan | Mar 9, 2022 | Xponance® Insights
View PDF | Print Version There has been a long-standing belief that the small-cap universe offers greater opportunity for active management to add value relative to a capitalization weighted benchmark than is the case for the large-cap universe. We compare the alpha...
by Bin Cheng, Serena Li, Sumali Sanyal, Cameron McLennan | Oct 6, 2023 | Xponance® Insights
The ensemble approach, in a broad sense, refers to combining multiple units (which could be models, methods, or components) to work together to achieve more accurate and reliable outcomes than any individual unit could achieve alone. This is akin to making a decision based on the collective wisdom of a diverse group, rather than relying on a single opinion.
by Tina Byles Williams | Apr 6, 2018 | FIS Foresights
FORESIGHT | FIS VIEWS This month’s Foresights report, ” Profiting from MSCI Reclassifications: Oases of Alpha or Mirages in the Desert?”, is our critique of the CFA’s Institute’s Financial Analyst Journal article, “Investing in the...
by Tina Byles Williams | Apr 1, 2013 | Market Insights Alerts
In 2011, FIS Group published a research paper which analyzed the drivers of entrepreneurial (or smaller) manager outperformance in US equity strategies from 2006-2010.1 While the study illustrated out-performance for five out of seven long-only equity investment styles offered through smaller managers/strategies (based on assets under management (AUM)) relative to their larger manager peers, it also detected the apparent beginnings of diminishing excess returns to fundamental active equity management strategies in the post-financial crash period. The most marked erosion of return has been observed among active Large Growth and Large Core products. By the end of 2012, the S&P 500 Index had risen over 100% since the market bottom in March 2009; but as a class, U.S. Large Cap active managers have been underperforming the market benchmark with a tenacity that is troubling. The paper analyzes several key questions including:
by Tina Byles Williams and Kila Weaver | Feb 14, 2024 | Market Outlooks, Xponance® Insights
In December 2023 Tina Byles Williams, Founder, CEO and CIO of Xponance, hosted 24 CEOs from among the firm’s currently funded sub-advisors to participate in a roundtable discussion on the most pertinent challenges to emerging and diverse investment management companies.
by Serena Li | Christina Watson | Sumali Sanyal | Cameron McLennan | Oct 11, 2021 | Xponance® Insights
Having introduced concepts in artificial intelligence and different types of machine learning (ML) models in our previous post, we will now discuss specific applications of machine learning in investment management, the benefits of using these models, and the challenges inherent in their use.
by Tina Byles Williams | Nov 7, 2019
U.S. FixedIncome Xponance’s Yield Advantage strategies are grounded in the belief that yield is the most reliable tool for generating alpha and optimizing return per unit of risk. The goal of our philosophy is to deliver long-term results that maximize the...
by Tina Byles Williams | Nov 7, 2019
Multi- Manager Platform We believe that small, entrepreneurial managers have a performance edge in capacity constrained strategies that can be a vital source of portfolio management innovation. Our philosophy is to: Engage innovation via small, entrepreneurial firms...
by Tina Byles Williams | Oct 17, 2022 | XAlts Specific News, Xponance® Press Release 2022, Xponance® Press Release
Philadelphia, October 17, 2022 – Xponance, Inc., a multi-strategy investment firm, announced today that Michael A.B. Orr has joined the firm as Managing Director & Chief Investment Officer of the firm’s Alternatives subsidiary, Xponance Alts Solutions, LLC (“XAlts”).
by Tina Byles Williams | Nov 1, 2019
Transforming Access to AlphaXponance® (EKS-puh-n’ns): We exist because of and for our clients. We leverage our multi-strategy capabilities for their success. We understand that wisdom and vision emanate from diverse perspectives, multi-decade experience,...
by Marc Poitevien | Mar 2, 2023 | Xponance® Press Release 2023
Press Release Philadelphia, PA – March 2, 2023 – Xponance, Inc., a leading, diverse, and 100% employee-owned multi-strategy investment firm, announced today that Marcy Rappaport has joined the firm as Director of Business Development and Consultant Relations. Marcy is...
by Tina Byles Williams | Feb 22, 2021 | XAlts Specific News, Xponance® Press Release 2021, Xponance® Press Release
Xponance, Inc., a multi-strategy investment firm, announced today that it will expand its business to include alternative capabilities for institutional and other qualified investors. The firm has hired industry veteran Marquette Chester as Senior Managing Director to lead this effort.
by Tina Byles Williams | Dec 3, 2020 | Xponance® Press Release 2020, Xponance® Press Release
Press Release December 2, 2020–Philadelphia, PA Industry veteran Len Oremland has joined Xponance®, Inc. as Managing Director, Head of Distribution and Client Engagement. Len will join the firm’s management committee and lead all aspects of Sales, Consultant...
by Tina Byles Williams | Nov 2, 2017 | FIS Foresights
FORESIGHT | FIS VIEWS I beg your pardon, I never promised you a rose garden…” — chorus from Lynn Anderson’s 1970 chart-topping country hit We thought we’d use the latest FIS Foresights to introduce our findings from a 5-year research effort to evaluate the...
by Tina Byles Williams | Mar 6, 2017 | FIS Press Releases, Xponance® Press Release Previous
Press Release Media Contact: Name: Siaolan Albigese Firm: FIS Group Email info@fisgroup.com (215) 567-1100 FIS Group Recognized as Top Guns Manager by Informa Investment Solutions Philadelphia, PA, March 2017 – FIS Group today announced that it has been recognized...
by Tina Byles Williams | Jul 1, 2015 | Market Insights Alerts
For 19 years FIS Group has successfully invested with entrepreneurial managers in global equities markets based on the considerable body of research suggesting that talented, high-active share, entrepreneurial managers are best positioned to outperform market benchmarks, net of fees. We believe that there are generally two reasons, both timeless and universal, why this inefficiency will continue. First, entrepreneurs with “skin in the game” are motivated to work harder, as entrepreneurs generally are in every other business across the time and space of human history. Second, in the modern markets of listed equities, size and scale are the enemies of alpha. While we have long known both of these simple (but nonetheless surprisingly ignored) truths to be self-evident in asset management, the significant opportunity of investing with entrepreneurial managers continues unabated. However in our firm’s 19 years of investing and decades more of experience of our principals, we have rarely (if ever) seen so clear a demonstration of both of these sources of alpha in one simple chart.
by Tina Byles Williams | Feb 1, 2022 | Xponance® Press Release 2022, Xponance® Press Release
Philadelphia, PA – February 1, 2022 – Xponance, Inc., a leading multi-strategy investment firm, and As You Sow, a nonprofit that promotes environmental and social corporate responsibility, today announced that they have formed a new partnership.
by Tina Byles Williams | Dec 12, 2022 | Xponance® Press Release 2022, Xponance® Press Release
Press Release Philadelphia, PA (Dec. 12, 2022) – Xponance, Inc., a multi-strategy investment firm, has been named one of the 2022 Best Places to Work in Money Management for firms with 20 to 49 employees, announced today by Pensions & Investments. The...
by Thomas Quinn | Jul 27, 2023 | Market Outlooks, Xponance® Insights
In a paper entitled Generative AI – Hope, Hubris, or Harrowing, our CIO, Tina Byles Williams, explored the medium to long-term effects of Generative AI on the economy, financial markets, and broader society. The task for investment managers now lies in navigating this promising yet unpredictable future, particularly as the market has priced in substantial premiums for those perceived to be the primary beneficiaries of this emerging technology.
by Tracy Cao | May 2, 2024 | Market Outlooks, Xponance® Insights
There is reason to be bullish on Japanese equities, due to market reforms and interventions over the past decade. In this note, we will recap those reforms we see as most relevant for global stock pickers, followed by insights from a selection of our high conviction boutique managers.
by Murray Owen | Mar 15, 2021
A Trusted SolutionsPartner for 25 Years For a quarter century, Xponance® has been proudly partnering with our clients to meet their investment objectives while expanding opportunity for emerging and diverse firms and professionals. We’re delighted to share that we...
by Adam Choppin | Feb 10, 2021 | Xponance® Insights
The best performing emerging market of the past decade gets no love from investors. Taiwan is a perennial underweight for active global emerging market (GEM) funds, despite being the best performing market over the past decade.
by Tina Byles Williams | Dec 10, 2020 | Xponance® Press Release 2020, Xponance® Press Release
December 10, 2020—Philadelphia, PA Chicago-based Rush University Medical Center has hired Xponance®, Inc. to provide passive equity investment management services at its November board of directors meeting. Xponance®, a 100% employee owned, diverse investment manager based in Philadelphia, will manage a $50 million S&P 500 Index assignment for Rush.
by Tina Byles Williams | May 26, 2020 | Xponance® Insights
Small caps have enjoyed a structural size premium (Chart 1 and Chart 2). Moreover, we have long maintained that high active share strategies are best deployed in less efficient market segments such as…
by Tina Byles Williams | Nov 7, 2019
Tina Byles Williams Chief Executive OfficerChief Investment OfficerFounder Tina Byles Williams is Chief Executive Officer, Chief Investment Officer and Founder of Xponance®, (formerly FIS Group) a $18.4 billion (as of 3/31/24) multiple strategy investment company, one...
by Tina Byles Williams | Nov 7, 2019
Systematic Global Equities Active Strategies use disciplined stock selection and portfolio construction methods for generating alpha. Passive Strategies offer exposure to market beta through index replication. Values-Based Equity Strategies can offer customized...