Ideas & Insights Our Advisors Our Teams Resources White Papers Market Statistics Model Portfolios Important Documents Recommended Readings Calculators What We Do Who We Are Our Story Our Board Members Management Team Governance & Internal Controls Compliance Safe-Keeping your Assets World Class Partners Research Department Perspective Newsletter Careers Contact Us Raymond Kerzérho CFA, Director of Research Raymond contributes to PWL with his thirty years of experience in investment strategy and fixed income portfolio management. Ideas & Insights Team Contact Menu Ideas & Insights Team Contact Raymond contributes to PWL with his thirty years of experience in investment strategy and fixed income portfolio management. A passionate blogger, he writes a monthly column in French-language newspaper Les Affaires and hosts the French podcast “L’investissement Décomplexé”. Raymond also teaches finance part-time at McGill University. Contact Raymond Kerzérho Market Research Raymond Kerzérho Arguments against indexing PWL Capital 2019-02-13T10:00:14 February 13, 2019 Yes, they did! In 2018, passively managed index funds once again increased their market share in the United States, rising from 35% to 37%, according to Morningstar. So, is this good or bad? Should you follow the trend? Market Research PWL Capital Raymond Kerzérho Even with equal fees, I prefer passive ETFs! 2019-01-25T11:00:13 January 25, 2019 Shock and awe! In 2018, Vanguard Canada, a fervent advocate of passive management, launched traditional, actively managed mutual funds. Actively managed mutual fund companies also successively launched their own array of exchange traded funds (ETFs). As a result, the great majority of the Canadian market’s 33 suppliers now offer mainly active management. Are we looking at the end of passive ETFs? Market Research PWL Capital Raymond Kerzérho Are You Ready for the Next Bear Market? 2018-11-16T16:35:37 November 16, 2018 Almost 10 years after the 2009 stock market low, many investors are wondering whether another bear market is around the corner. Unfortunately, no one can predict the exact timing of a bear market. This being said, if you’re an investor with long-term goals, it’s in your best interest to adopt a strategic framework to guide your investment choices. Market Research PWL Capital Raymond Kerzérho How PWL Estimates Future Inflation 2018-11-2T14:00:54 November 2, 2018 PWL Capital has been producing its own projections of future stock and bond returns for the last five years. These projections are a key input in preparing financial plans for our clients. The bedrock of these projections is the estimated rate of inflation. Market Research PWL Capital Raymond Kerzérho Should you invest in “smart beta” funds? 2018-10-26T10:27:46 October 26, 2018 The current trend in the world of investment funds is “smart beta.” The approach meets investors’ growing demand for funds that generate returns above the benchmark indices, without the exorbitant fees generally associated with traditional management involving the analysis of individual securities. In short, smart beta suggests that it can add value even after deduction of costs. Research Department IIROC AdvisorReport Ideas & Insights Our Advisors Our Teams Resources White Papers Market Statistics Important Documents Model Portfolios Recommended Readings Calculators Checklists What We Do Who We Are Our Story Our Board Members Management Team Governance & Internal Controls Compliance World Class Partners Research Department Contact Us Client Login FR
Market Research Raymond Kerzérho Arguments against indexing PWL Capital 2019-02-13T10:00:14 February 13, 2019 Yes, they did! In 2018, passively managed index funds once again increased their market share in the United States, rising from 35% to 37%, according to Morningstar. So, is this good or bad? Should you follow the trend?
Market Research PWL Capital Raymond Kerzérho Even with equal fees, I prefer passive ETFs! 2019-01-25T11:00:13 January 25, 2019 Shock and awe! In 2018, Vanguard Canada, a fervent advocate of passive management, launched traditional, actively managed mutual funds. Actively managed mutual fund companies also successively launched their own array of exchange traded funds (ETFs). As a result, the great majority of the Canadian market’s 33 suppliers now offer mainly active management. Are we looking at the end of passive ETFs?
Market Research PWL Capital Raymond Kerzérho Are You Ready for the Next Bear Market? 2018-11-16T16:35:37 November 16, 2018 Almost 10 years after the 2009 stock market low, many investors are wondering whether another bear market is around the corner. Unfortunately, no one can predict the exact timing of a bear market. This being said, if you’re an investor with long-term goals, it’s in your best interest to adopt a strategic framework to guide your investment choices.
Market Research PWL Capital Raymond Kerzérho How PWL Estimates Future Inflation 2018-11-2T14:00:54 November 2, 2018 PWL Capital has been producing its own projections of future stock and bond returns for the last five years. These projections are a key input in preparing financial plans for our clients. The bedrock of these projections is the estimated rate of inflation.
Market Research PWL Capital Raymond Kerzérho Should you invest in “smart beta” funds? 2018-10-26T10:27:46 October 26, 2018 The current trend in the world of investment funds is “smart beta.” The approach meets investors’ growing demand for funds that generate returns above the benchmark indices, without the exorbitant fees generally associated with traditional management involving the analysis of individual securities. In short, smart beta suggests that it can add value even after deduction of costs.