The 2025 African Development Bank Group Annual Meetings
Read the new research report and hear from the contributing authors. Learn MoreRecently Published
Celebrating Research Excellence
By Rob Arnott
Response to FASB Invitation to Comment – Recognition of Intangibles
By Sandra J. Peters, CPA, CFA, and Matthew P. Winters, CPA, CFA
Mark Higgins, CFA: Private Credit, Caution, and the Lessons of Financial History
Capital Formation in Africa: A Case for Private Markets
Editors: Olivier Fines, CFA, and Phoebe Chan
Thematic Content
Capital Markets
The Performance of the 60/40 Portfolio: A Historical Perspective
This report examines the historical performance of the 60/40 equity/bond portfolio, highlighting its benefits, challenges from variable stock–bond correlations, generational differences, market-specific risks, and the role of alternative assets.
Includes Part II: The Future of the 60/40 Allocation
Technology
The Automation Ahead - A New Content Series
This series breaks down the reality of GenAI’s current state, guiding you through the innovations, possibilities, and risks of this new wave of automation.
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
Think We’ve Seen the Last +1,000-BPS High Yield Spread? Think Again
Think +1,000-bps high yield spreads are history? Marty Fridson, CFA, shows why they could still hit that mark in the next recession.
Tariffs, Inflation, and Returns: How Investments Respond to Supply Shocks
Tariffs have reclaimed the economic spotlight. But with their timing and magnitude uncertain, investors are on edge. A fascinating history of tariffs and their effects on investment returns is provided by Baltussen et al in a recent Enterprising Investor blog. This blog, by Marc Fandetti, CFA, takes a complementary approach to exploring their possible implications for returns.
Women in Alts: Leading with Inspiration, Intuition, and Impact
Women investing in alternatives aren’t just building wealth — they’re reshaping the future. With capital comes power, and a growing number of women are using that power to back innovations, challenge the status quo, and invest in ways that reflect their values, writes Babara Stewart, CFA.
More
Celebrating Research Excellence
Optimal Design of Life-Cycle Funds in Emerging Market Countries
An Investment Perspective on Tokenization — Part I & II
Financial Analysts Journal, Second Quarter 2025, Vol. 81 No. 2
Geoeconomics and Financial Markets
Intrinsic Value: A Solution to the Declining Performance of Value Strategies
Watch the Debate: New Insights on Stocks for the Long Run
