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Alternative Market Briefing

Salient Partners launches Salient Risk Parity Index

Tuesday, August 21, 2012

Lee Partridge
Bailey McCann, Opalesque New York:

Texas-based asset management and wealth advisory firm, Salient Partners has launched a first-of-its-kind Risk Parity Index. The index is the first and only benchmark that will enable investment managers to measure the performance and effectiveness of their risk-parity strategies against an industry standard, passive index. The index is a composite, USD based, total return index that represents the performance of an equally risk-weighted allocation to global equity, interest rate, credit and commodity exposures.

The Index was originally made available through the Salient Partners website in February, and is now available on the Bloomberg terminal. Portfolio weights are rebalanced monthly, with a 10% volatility target.

"While equity strategists and stock fund managers can gauge their performance against indices such as the Dow Jones Industrial Average and S&P 500, investment managers who employ risk-parity strategies do not have a similar measurement tool," said Lee Partridge, Chief Investment Officer of Salient, in an interview with Opalesque. "We support the growth of the risk-parity approach and wanted to create a benchmark for managers who use it."

Salient is a $17bn asset management firm and has chosen the assets for the index through its own Index Committee. Historical and ongoing Index values are then calculated by a third-party calculation agen......................

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