Mr. Alonso is a director within the Multi Asset group. He is responsible for quantitative model research, development and enhancements for PanAgora’s Multi Asset strategies. He is also responsible for the development and management of the firm’s Defensive Equity strategies, including alternative-beta and factor-based strategies. Mr. Alonso joined PanAgora from Mellon Capital Management (formerly Franklin Portfolio) where he was a Quantitative Analyst primarily responsible for research and management of Market Neutral Equity portfolios.
Mr. Alonso is a CFA charterholder.
You have your equity market that’s up 16% (year-to-date) but low volatility is beating it. You certainly don’t expect that in any other bull market. Defensive assets did well in Q4, they protected on the downside and they also picked up that upside in Q1.
The return to minimum variance (low volatility) and traditional defensive strategies has been somewhat out of the ordinary.13 January 2020