Parametric Portfolio Associates and Research Affiliates have partnered to provide a systematic global macro strategy to institutional separate accounts.

"Our clients desire liquid alternative solutions that provide attractive, diversifying returns in a cost-effective manner. Parametric is leveraging its partnership experience with Research Affiliates to launch what is expected to be an empirically robust and theoretically sound strategy aiming to deliver these attributes," says Brian Langstraat (pictured), chief executive officer, Parametric.
 
"As a natural evolution of our research in asset allocation and smart beta, we developed a long/short strategy harvesting alternative return premia of carry, momentum and value across asset classes and geographies," says Chris Brightman, chief investment officer, Research Affiliates. "Our rules-based, transparent and diversified approach is intended to deliver uncorrelated returns to stocks and bonds."
 
"Many institutional investors have expressed to me their increasing dissatisfaction with hedge funds. Today, I am thrilled to say that we have partnered with Parametric to introduce a new approach to global macro investing that we are confident will disrupt an industry long characterised by poor outcomes and extraordinarily high fees," says Rob Arnott, chairman and chief executive officer, Research Affiliates.