Marsh CFA Institute Global Pension Index 2026

Explore how 55 pension systems worldwide compare — discover how to strengthen retirement security. Learn More

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Recently Published

Research Reports

Liquidity Management Tools in Investment Funds: Managing Risks from Stressed Redemptions

By Raymond Ka-Kay Pang, PhD and Urav Soni

Financial Analysts Journal

Finding the Women

By Nicole M. Boyson

21 Oct 2026

The Research and Policy Center Celebrates Global Ethics Day

Financial Analysts Journal

Machine Learning Classification and Portfolio Construction

By Yang Bai and Kuntara Pukthuanthong

Thematic Content

Capital Markets

Research Report

Understanding the Growth of Private Markets: Structural Shifts in the Investment Industry

By Rhodri Preece, CFA and Cheryll-Ann Wilson, PhD, CFA

Private markets now shape capital formation, portfolio construction, and financial stability. This report examines private markets’ growth, risks, and implications for investors, policymakers, intermediaries, and the investment profession.

Technology

Research Report

Artificial Intelligence and the Future of Finance: A Framework for Structural Change

By Mona Naqvi

This report addresses how artificial intelligence could reshape finance by changing how investors process information, allocate capital, manage risk, define professional skill, and preserve accountability in an increasingly automated system.

Industry Future

Research Report

The Total Portfolio Approach (TPA): A Practical Guide for Navigating the Transition to TPA

By Roger Urwin, FSIP and Genevieve Hayman, PhD

Explore the total portfolio approach (TPA), its advantages over traditional asset allocation, and the governance, culture, technology, and leadership needed for adoption. Learn from leading asset owners and gain practical guidance for transitioning to TPA.

Sustainability

Book

Investment Innovations Toward Achieving Net Zero

More than 50 authors from around the world collaborated on 16 research projects

CFA Institute Research and Policy Center has convened net-zero thought leaders and investment luminaries to break down the big ideas around achieving net zero. They provide practical guidance for investors, asset managers, investment professionals, and regulators.

Blogs

Market Integrity Insights

India Needs Stronger Finfluencer Enforcement—and Global Regulators Need Greater Cooperation

22 Oct 2026

As India tackles unregulated financial influencers, Gaurav Kapur, CFA, and Pankaj Sharma examine SEBI’s regulatory response, draw lessons from other countries, and recommend stronger oversight, clearer rules, and greater global cooperation to protect retail investors.

Enterprising Investor

Warren Buffett’s Small-Cap Value Strategy for Today’s Investors

20 Oct 2026

Could Warren Buffett’s original small-cap value strategy uncover opportunities overlooked by today’s mega-cap-driven markets? Ignatius Chithelen, CFA, explores how passive investing, declining analyst coverage, and corporate restructurings can create mispriced small-cap stocks—and why Buffett’s disciplined approach to finding value remains relevant today.

Enterprising Investor

I Spent a Career Managing Money, Then I Let an AI Test My Life's Work

19 Oct 2026

What happens when a veteran portfolio manager asks AI to dismantle the investment strategy he built his career on—and discovers his apparent edge was largely luck? Paul F. Spitznagel, CFA, shares how AI exposed the weaknesses in his strategy and why challenging your own track record may be the most valuable test of investment skill.