Quantitative Investments

Everything you need to know about DATs (Digital Asset Treasuries)
Have you been following Digital Asset Treasuries (DATs)? Once promoted as “intelligent leverage” on Bitcoin, they gave investors simple exposure through listed shares. But with ETFs now offering easier and cleaner access, the model faces growing pressure. In this piece, we explore whether DATs are here to stay—or fading fast.
Quality Growth Boutique

Staying power: the lasting potential of international equities
International equities offer long-term structural growth opportunities. Europe is undergoing an economic transformation through defense, technology, and infrastructure investments. In our view, rising US risks, like fiscal deficits, underscore the need for diversification.
TwentyFour

AI investment boom hits the bond market
Oracle priced an $18bn six-tranche (5yr/7yr/10yr/20yr/30yr/40yr) bond deal which was increased from an initial $15bn on the back of exceptionally strong demand. It is the latest sign that the AI investment boom, long the focus of equity markets, is now spilling into credit.
Quantitative Investments

The Power of Many – Part II
How can machine learning ensembles be built in practice? From Bagging and Boosting to Stacking, this article explores different ensemble strategies and the role of model diversity. We also examine how ensembles are being applied in financial forecasting, drawing on both academic research and industry experience. Discover how combining models tends to deliver stronger, more resilient predictions in finance.
TwentyFour

Santander setting the pace in European ABS
Following the end of quantitative easing in 2023, the European ABS market has gone from strength to strength and 2025 is set to overtake the post-2008 new issuance record set in 2024.
TwentyFour

Flash Fixed Income: Rate cuts won’t help long-dated bonds
With the Fed’s stance suggesting it is prioritising growth over sticky inflation risks, volatility in longer dated bonds is likely to persist and the case for increasing duration in fixed income is not compelling.
TwentyFour

Fed rate cut does little for clarity on policy path
The Federal Reserve (Fed) cut interest rates by 25 basis points (bp) on Wednesday, exactly as markets had anticipated, marking its first rate reduction since December 2024.
Quantitative Investments

The Power of Many – Part I
Why rely on one model when many do better? By combining multiple forecasts, ensembles tend to deliver more accurate and resilient results. This first article in our two-part series explores the theory behind model ensembles, linking classic forecasting research with today’s financial machine learning. Discover why combining models consistently outperforms relying on a single predictor.
Conviction Equities Boutique

One Big Beautiful Transition
Has the energy transition stalled due to weakening US policy support? We don’t believe so. In our view, this negative narrative is overly exaggerated and fails to recognize the increasing use of certain mature renewable technologies due to their strategic importance, economic competitiveness, faster implementation and limited technology risks.
TwentyFour

Is there value in the troubled European chemicals sector?
As active managers we are naturally looking for bonds that we believe are mispriced, therefore offering attractive risk-adjusted carry or, sometimes, a capital gain if market pricing falls into line with our view. Equally important is to avoid sectors facing structural or protracted cyclical downturns where we don’t think valuations reflect the fundamentals.
Asset management

Replay: The new multi-plural world — Macro divergence meets yield
You can now watch the replay of our webinar: The new multi-plural world: Macro divergence meets yield
Quantitative Investments

Think you’re diversified? Check your FX
FX is fragmented by nature — and that’s exactly what makes it valuable. Our latest Quanta Byte explores how FX trends offer independent return streams that passive hedging misses. Discover what happens when FX diversification starts doing more than just reducing volatility.

Ratings uplift a boost for European financials
A trio of rating upgrades in European financials late last week has highlighted the strength of fundamentals in the sector. With the proportion of the subordinated financials that is rated investment grade continuing to grow, the wider pool of investors targeting these bonds could help to dampen volatility in the asset class.
TwentyFour

How worrying is low job growth?
Job creation, or rather a lack of it, has been in the spotlight recently as weak non-farm payrolls data in the US has driven a rally in government bonds and strengthened market projections for rate cuts.
TwentyFour

Beyond the noise, conditions favour fixed income
Felipe Villarroel delivered the keynote address at TwentyFour Asset Management’s Annual Conference in London on September 9, 2025.
Fixed Income Boutique

Emerging-market investment-grade bonds as a strategic anchor
With strong fundamentals, broad region and sector diversification, and a track record of weathering financial crises, emerging-market investment-grade (EM IG) bonds have evolved into a high-quality asset class, in our view. Yet, despite a robust risk-return profile, EM IG remains significantly underrepresented in actively managed, dedicated strategies.
Fixed Income Boutique

EM local-currency: more reasons to maintain our high conviction
Strong performance of EM local currency bonds has been driven by a bearish US dollar and fundamental factors supporting sustainable appreciation toward a stronger equilibrium.
Fixed Income Boutique

Rating upgrades and renewed inflows support EM hard-currency bonds
Accelerating rating upgrades and renewed inflows into the asset class are likely to support EM spreads relative to their historical levels and other credit markets. Absent a major global shock, we expect EM bonds to remain resilient, offering stable carry even if capital appreciation becomes more difficult to capture.
TwentyFour

Are markets pricing in the threat to Fed independence?
The next few days could be pivotal to any concerns around the independence of the US Federal Reserve (Fed).
TwentyFour

How will digital currencies impact banks?
The European Central Bank (ECB) is reportedly accelerating its work on a digital version of the euro (the dEuro), having seen the US pass the Genius Act in July which paved the way for broader adoption of so-called stablecoins.
Quality Growth Boutique

International equities: finding growth in shifting markets
Markets inevitably shift, but global diversification endures. A thoughtfully constructed portfolio that combines leading US and non-US companies can offer meaningful advantages to long-term investors: enhanced performance potential, compelling valuations and access to growth industries where the US lags.
TwentyFour

Asset-backed finance: How does Europe stack up?
The $5.2tr asset-backed finance (ABF) market represents a growing opportunity to gain exposure to high quality loan pools and the returns they can generate.
TwentyFour

Credit’s cash pile ready for September supply
We have long harked on about the strength of the technical in credit, with solid fundamentals, resilient inflows and defensive positioning continuing to provide a tailwind for the market.
Quantitative Investments

Sectors or Factors?
Our research shows sectors deliver both top and bottom returns, while factors—especially Quality, Dividend Strength and Minimum Volatility—offer more predictable, diversified, and stable performance. We use sectors tactically based on business cycle signals, but our strategic focus remains firmly on factors for consistent, risk-adjusted returns. Discover the Hybrid Investment team’s view on Minimum Volatility equity strategies over the business cycle at the Quantitative Investment Boutique.