Quoniam Asset Management

Are you looking for an internship position in quantitative research? If you are at an advanced stage of your studies and have excellent programming skills in Python, then this is your chance! 🤩 Our Research team develops and maintains our forecast models for return and risk across equity, fixed income and multi-asset classes. The team also develops products that are aligned with client needs, such as SI/ESG portfolios or low-risk portfolios. Be part of a team that is characterized by cognitive diversity from which we benefit every day.   Your impact: 📌 You will contribute to the evaluation of models and factors and support model performance measurements. You may also have the opportunity to be assigned to other projects according to your interests and skills. Your profile: ✅ You are at an advanced stage of your studies in the STEM field with a quantitative focus and an interest in economics. You have excellent knowledge of Python and SAS and you are familiar with relational databases (SQL). Team spirit, analytical thinking and a solution-oriented way of working round up your profile.   Apply now: https://lnkd.in/eCjPgDUZ #ResearchForecasts #QuantitativeResearch #Internship #Quoniam #Careers

Celebrating Maxim's Achievement and Quoniam's Commitment to Innovation At Quoniam, we pride ourselves on being at the forefront of data-driven asset management, combining scientific methods, technological innovation and deep capital markets expertise. For 25 years, our commitment to innovation has been woven into the fabric of our business, driving us to continually evolve and challenge the status quo.   Today, we are delighted to share a significant achievement by Maxim Popikov, CQF. In 2021, Maxim successfully completed the Certification in Quantitative Finance, a prestigious qualification that emphasises the real-world relevance of quantitative investing. Below he shares his story.  Maxim's achievement not only exemplifies personal dedication to professional growth, but also aligns perfectly with Quoniam's commitment to continuous research and learning. By investing in the development of our team, we ensure that our organisation remains at the forefront of innovation and able to deliver exceptional value to our clients.    #Innovation #ProfessionalDevelopment #QuantitativeFinance #TeamQuoniam #ContinuousLearning #CQF 

On November 5, 2024, a new US president will be elected. Will we see a continuation of the Trump presidency – after a 4 year break – or will the Democrats retain the presidency? And, probably more important for fixed income investors, will the new president also have the majority in congress and therefore the ability to implement his/her policies without having to compromise? Harald Henke shares his insights below.   Asset managers and investment banks are currently assessing probabilities for various outcomes and their implications on performance. Will interest rates rise or fall and will rates volatility remain elevated or will it fade? Which sectors will outperform? And are there individual companies that are likely to profit from or suffer under the new policies?   Systematic credit investors can be relaxed watching the upcoming elections. In the graph below we show monthly returns of a credit multi-factor portfolio. We highlighted the months in which presidential elections took place in the US. As can be seen, the return level does not seem to be strongly influenced by the political events. Returns in the election months do not differ significantly from the months before and afterwards. Moreover, there is also no visible pick-up in volatility in the data. It seems that credit factor returns were not impacted during the last four US presidential elections.   This is in line with the goals of factor investing to earn factor premia independent of the market environment. While fundamental credit managers may or may not be successful frontrunning the market moves after November 5, there is a high likelihood that the presidency will be business as usual for factor strategies. 

"Markets are driven not just by data, but also by emotion and sentiment. Understanding the balance between the two is key. There’s a unique opportunity to identify shifts in sentiment before they are fully reflected in prices, providing a strategic advantage. Over the last decade, we’ve built systems that not only track current sentiment but also enable us to invest in the opportunities that arise from these early insights. Staying ahead in today’s markets means understanding both the numbers and the emotions behind them." #Quant #MarketSentiment #DataDriven #MultiAsset Read more about our new strategy here: https://lnkd.in/eBgjhxb5

Finanz-Redakteur Ingo Narat stellt im Handelsblatt die erfolgreichsten Anlagestrategien für Schwellenländerfonds vor, darunter auch die Quoniam-Strategie Emerging Markets Equities MinRisk. Quoniams CIO Dr. Volker Flögel, CFA, erklärt das gute Abschneiden des Fonds so: „Wir halten viel von Unternehmen, denen lokales Wachstum nutzt.“  Lesen Sie mehr: https://lnkd.in/eNmkEmFS

Quoniam's Head of Multi-Asset, Dr Markus Ebner, joins this week's episode of Trader TV to provide valuable insights on the week's markets and how to use unstructured data such as news sentiment in the investment process. Find out more: https://lnkd.in/eBgjhxb5

A changing economic environment and more attractive valuations: Mark Frielinghaus, CFA, answers the question of whether the time has come to achieve significant returns with strategic investments in small caps. Quoniam's systematic approach could be key to unlocking hidden value in this under-researched segment. Read more: https://lnkd.in/eq65DDf9 

In September 2024, the Fed began its cycle of interest rate cuts. Interest rates fell across the board and prices for risk assets rose. While the Fed is walking a fine line between supporting the economy and avoiding a resurgence of inflation, the current policy has triggered short-term euphoria, as Dr Harald Henke explains in his market commentary. Read more: https://lnkd.in/edDPbTaf

Heute haben wir den März-Trainee-Jahrgang der Union Investment bei uns im Westhafen Tower begrüßen dürfen. Als Teil der Union-Gruppe ist es uns eine Freude, regelmäßig Trainees willkommen zu heißen. 😊 Nach einem gemeinsamen Frühstück folgten verschiedene Sessions, die wertvolle Quoniam-Insights vermittelten. Die Trainees erhielten Einblicke in unsere Unternehmensstrategie und Produkte. Sie haben erfahren wie unsere Kernbereiche Portfolio Management und Research arbeiten und welche Rolle der Bereich Technology spielt. Zum Abschluss hab es noch einen spannenden Austausch zum Thema IT-Security. Wir bedanken uns bei allen Kolleginnen und Kollegen für die spannenden Vorträge. 👏 Ein großes Dankeschön auch an euch für euer Interesse. Wir freuen uns schon auf den Besuch des nächsten Jahrgangs und wünschen euch weiterhin viel Erfolg in eurem Trainee Programm! 🌟 #LifeatQuoniam #Quoniam #AssetManagement #Careers

All signs point to a year-end rally in risk assets. The Fed has finally started cutting rates – with a bigger-than-expected 50 bp rate cut. Dr Harald Henke explains what the market expects to happen next and what it means for investors. On September 18, 2024, the Fed began its long-awaited cycle of rate cuts. While market analysts were split between a small (25 bp) and a large (50 bp) cut, the US central bank opted for the latter. At the same time, the Fed members published their quarterly updated expectations for the future path of interest rates. The dots in the chart below show median expectation of Fed members as to where interest rates will be at the end of 2024, 2025 and 2026. The dots on the left are the expectations published after the June meeting, and the dots on the right are the most recent estimates. As can be seen, over the past three months there has been a significant bearish turn of Fed members, estimating that the Fed funds rate will now be 75 bp lower at the end of both this and next year compared to the estimate in June. These estimates reflect the deterioration in US growth and the recent more sustainable inflation rates. The chart also shows the market expectations for money market rates, as derived from 3-month SOFR futures.  As can be seen, the market was already expecting somewhat more aggressive rate cuts than the Fed members in June. Now that the Fed has become more dovish, the markets have outpaced the Fed in expecting even more rate cuts this year and next. With the Fed cutting rates aggressively, China supporting its economy with huge stimulus, and economic growth holding up so far, risk assets have started a rally that has the potential to continue well into the fourth quarter. One market that has benefited from this monetary support is the corporate bond market. If you are looking to invest in global IG corporate bonds, please see our recent article on this strategy: https://lnkd.in/eZRtayyy    #FixedIncome #InvestmentGrade #Quant