2025 Graham and Dodd Award Winners
Celebrating the Financial Analysts Journal’s most outstanding research and financial writing Learn MoreRecently Published
Simone Ruiz-Vergote: Decoding SFDR 2.0 for Asset Managers and Investors
Featuring Simone Ruiz-Vergote, Head of Sustainable Finance Policy Research at MSCI,
The Performance of Small Business Investment Companies
By Gregory W. Brown, Wendy Y. Hu, David T. Robinson, and William M. Volckmann
The Future Investment Professional: Skills for the Digital Era
With Brian Pisaneschi, CFA Senior Investment Data Specialist, Mike Chen Head of Next-Gen Research, Robeco, and Iro Tasitsiomi , PhD Head of AI & Investments Data Science, T. Rowe Price
Stocks for the Long Run Revisited: Dividends and “The Return Nobody Got”
By Paul McCaffrey, Forward by Laurence B. Siegel
Thematic Content
Capital Markets
Mercer CFA Institute Global Pension Index 2025
This report rates global pension systems, recommending reforms to improve outcomes and participant trust in an era of aging populations and increasing government intervention.
Technology
AI in Asset Management: Tools, Applications, and Frontiers
Explore how AI and machine learning are reshaping asset management, with insights from leading practitioners and CFA Institute experts.
Industry Future
A Comprehensive Guide to ETFs (2nd Edition): Module 1: ETF Features and Evolving Landscape
This first of three modules of an updated CFA Institute Research Foundation guide explores the properties, benefits, mechanics, and history of exchange traded funds (ETFs). It describes the factors behind ETF’s exponential growth and evaluates the U.S. ETF landscape.
Sustainability
Investment Innovations Toward Achieving Net Zero
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
Keynesian Folly: Why AI Will Never Fully Automate Finance
Why has technological progress failed to deliver the productivity gains Keynes once envisioned? Using AI as a modern test case, Ola Mahmoud, PhD, explains why reflexive markets, regime change, and governance demands place firm limits on automation in finance, and why human judgment remains essential.
Why Tight Stop-Losses Often Hurt Investors — and What Robust Capital Growth Really Requires
Tight stop-losses are widely viewed as disciplined risk management, but they may quietly undermine long-term capital growth. Xinyu Xiong examines how trade-level precision can conflict with portfolio-level outcomes, drawing on behavioral insights and empirical evidence to show why robustness, time in the market, and exposure persistence matter more than narrowly optimized exits.
Defined Contribution Top Trends for 2026: What Plan Sponsors Need to Get Right
Defined contribution plans sit at the center of the US retirement system, placing plan sponsors under growing pressure to make sound decisions. This post from a team at PNC Institutional Asset Management outlines key priorities for 2026 across technology, education, investment strategy, and regulation, highlighting where incremental change may no longer be enough. By Christopher M. Dall, CFA, Deana Harmon, CIMA, AIF, Taylor Wagner, AIF, Mindy Lunn, CMFC, and Amber Walker.
More
Agentic AI For Finance: Workflows, Tips, and Case Studies
Alternative Credit: The Rise of Consumer Lending
Explainable AI in Finance: Addressing the Needs of Diverse Stakeholders
Continuation Funds: Ethics in Private Markets, Part I
Financial Analysts Journal, Fourth Quarter 2025, Vol. 81 No. 4
Conversations with Frank Fabozzi, CFA, Featuring Jason Zweig
Private Market Investing
