PA Video Insight: Seeing inefficiency, volatility and risk as opportunities

Added 12th July 2016

True alpha is not generated from single trades, argues Pioneer’s Adam Macnulty, but is the result of a carefully built portfolio of multiple, independent strategies.

Market inefficiencies suit Pioneer’s multi-strategy approach to generating alternative sources of alpha but as inefficiency rises so does volatility and risk so there is a balance to be made. Adam talks through where he sees the current opportunities with many coming from the lack of any investment bank prop desks following the global financial crisis that would ordinarily have arbitraged some of them away.

He also gives an insight into how he put on a US volatility trade on the back of the EU referendum.

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Vincent McEntegart, manager of the Kames Diversified Monthly Income Fund, explains how he aims to deliver a stable and sustainable income of 5% p.a.*, paid monthly, by investing in a range of asset classes

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About Author

Gary Corcoran


Portfolio Adviser & International Adviser

Gary Corcoran is the editorial director for Portfolio Adviser, International Adviser and Fund Selector Asia. He is also programme director and chairman for events hosted across the UK, South Africa, Middle East and Asia. Gary joined Last Word Media in August 2006 as the launch editor of Portfolio Adviser, having previously worked at Bacon & Woodrow, Legal & General, FT Business and MSM International.



Investment Strategy



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