| A new phase of market instability calls for a different approach to defending against investment losses, according to one of the pioneers of low-volatility investing. While low-volatility funds have proven effective in their short lifespans to date, they are not designed to anticipate the emergence of future market disturbances.
“They are purely systematic, and they are backward looking,” Bruno Taillardat, investment director for equities at Geneva-based money manager Unigestion, which has about $18-billion (U.S.) of assets under management, said in an interview. “It’s much more important to be forward looking, to imagine what can go wrong tomorrow.”..............................................Full Article: Source
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