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THE ERA OF INVESTMENT SOLUTIONS

1 minute with the CIO
1 minute with the CIO 1 minute with the CIO
1 minute with the CIO
With low returns and risk on the rise we believe it's time to rethink investments.
Asset managers should embrace a solution-driven approach to meet long-term investor goals. Liquid alternatives may help to achieve true diversification and mitigate downside risk.The ability to generate alpha is also paramount in a low return world.
1 minute with the CIO

A New Landscape
Long-term expected returns for all asset classes are set to continue to decrease. At the same time, risks of extreme events are growing in the market. This tougher investment environment we are facing will not be temporary. In this new phase, the asset manager's role is set to evolve from pure product provider to solution provider.

A Solution Mindset
In our view, the era of solutions will require rethinking portfolio construction, product design and risk management approaches to deliver the investment experience that investors demand. In this era, we believe that the focus on risk should evolve, shifting from traditional market measures (i.e., volatility versus a market index), towards innovative client-tailored risk management.

Liquid Alternatives
Liquid alternatives are the most recent active management industry's answer to the need for enhanced diversification and low-correlated sources of return. They are the essence of active management in terms of flexibility and unconstrained approaches.

"True" Alpha
The ability to generate truly idiosyncratic alpha, distinctive and not replicable, could make a significant impact on the long-term results for investors seeking to reach their goals. Combining a high conviction approach with risk management designed to limit the downside becomes a differentiating success factor in this regard.

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Important Information - Diversification does not guarantee a profit or protect against a loss. Alpha - Measures risk-adjusted performance, representing excess return relative to the return of the benchmark. A positive alpha suggests risk-adjusted value added by the money manager versus the index. Unless otherwise stated, all information contained in this document is from Pioneer Investments and is as of September 1, 2016. Unless otherwise stated, all views expressed are those of Pioneer Investments. These views are subject to change at any time based on market and other conditions and there can be no assurances that countries, markets or sectors will perform as expected. Investments involve certain risks, including political and currency risks. Investment return and principal value may go down as well as up and could result in the loss of all capital invested. This material does not constitute an offer to buy or a solicitation to sell any units of any investment fund or any services. Pioneer Investments is a trading name of the Pioneer Global Asset Management S.p.A. group of companies. Date of First Use: September 15, 2016.