In our PRIMIA risk survey [link to previous blog here] we found that if risk managers could change one thing relating to risk management, they would create a risk culture and find a better way of integrating risk into their investment process. In my view, these the two things will have the most positive impact on risk management overall. Yet at the majority of buy-side firms (approx. 70%) risk and investment decision making are completely separate functions.
While buy-side firms now recognize the importance of developing an integrated approach to risk management, surprisingly only 42% of firms we surveyed currently use a risk dashboard showing all the risk exposures. What does that mean? A lot more progress still needs to be made to empower risk managers to become, if not integrated, at the very least involved in the investment decision making process.
If risk management is to move beyond box ticking, the function will require KPIs that measure how it contributes to investment performance. A CIO of a large insurance firm in China who we surveyed reinforces this: “Our risk managers are diligent but they are not qualified investment professionals; they only know the risk management techniques but not the logic behind investments. I would say the best measure of success of a risk manager is that s/he is ready to be reassigned to the investment team and can pick up everything in a reasonably short time.”
A CRO of a London-based boutique asset manager summed up that risk management has three key performance indicators:
Sounds simple, but achieving this succinct assessment is one of the most important positive changes that buy-side firms could make to improve their risk management. Why? One of New-Zealand-based participant points out: “Risk management is integral to the generation of returns from risk assets.”
Shanghai, October, 2017 – The Portman Ritz-Carlton, Shanghai offers more than 5,400 square meters of meeting and conference spaces including the 489 square meter Shen Ballroom. Adjacent to the Ballroom is the 904-square meter Atrium and Opera Theater in Shanghai Centre with 991-seats. The Garden Terrace on the 7th floor features panoramic city views including the landmark Shanghai Exhibition Centre building for guests who seek a unique outdoor experience. The hotel’s meeting spaces are equipped with latest video conference technology, state-of-the-art sound and lighting system, Wi-Fi internet access, new amenities and contemporary décor enriching Asian influence with modern Chinese artworks.
The Portman Ritz-Carlton, Shanghai features the “Shen” experience, its event identity and design with a state-of-the-art meeting and multi-functional venues. “Shen” is enriched by Asian influencers from Shanghai’s past, present and future and creates an elegant and inviting atmosphere. All spaces are resplendent with a mix of traditional and contemporary modern architecture design, featuring opulent attention to detail in the soft furnishings. Special touches include luxurious Spanish sandstone marble combined with elegant carpet flooring, sleek silver leafs wall coverings, classy Chinese lanterns decorating the foyers, and unique linear digital artworks in each floor.
The stylish handmade woven genuine leather doors combined with anodized golden metal frames welcome all guests when entering the Shen Ballroom, known previously as Marble Ballroom. This special venue features an iconic floor-to-ceiling spiral wall that captures one’s attention with champagne colored three-dimensional lines, symbolizing the flow of water that is believed to be the source of all life and the specific den of the dragon for good luck. Created by Anglo-Italian designer, Loris Lightfoot, the glamorous bee hive hexagonal crystal chandeliers are individually crafted to bring the luxury sense of all events. The shape of the chandelier is also believed to emit positive and productive energy for people gathering in the room.
Sophisticated culinary art experiences are designed by Executive Chef William Wang, Executive Sous Chef Herwig Knapen and their team, with new menus available for social and corporate events, weddings and themed coffee breaks. Guests may also opt for personalized menus.
Pierce capitalized on a late-race restart to get by Casey Mack with two laps to go and cruise to his first RCS win of the season and second overall.
“I always hope to get at least one win here,” said Austin in RydellCars.com Victory Lane. “We’ve been running in the top five a lot here lately so it feels good to finally get a win.”
Chris Ranten took the early lead from his front row starting position, but he was overtaken by Jordan Adams on lap three. The 20-year-old Reynolds, ND driver paced the pack for the next five circuits until Mark Dobmeier caught the Home of Economy #20A in lapped traffic and took the lead.
Once out front, Dobmeier looked to have his ninth consecutive River Cities Speedway win all wrapped up, but the right rear tire exploded on the “Dynamite’s” #13 machine leaving the door wide open for second and third-place running Casey Mack and Pierce.
On the final Evergreen Insurance restart Mack drove to the moisture on the low side of the speedway, while Pierce hammered the cushion up top. Pierce’s momentum carried him around Mack and into the lead, which he held for the last three laps to score the win.
“It’s really hard to win here,” continued Pierce, the two-time and defending RCS track champion. “Just like what happened here tonight, it almost takes a misfortune [for Dobmeier] but we were able to capitalize on that tonight. I saw that Casey [Mack] was running the bottom and catching Mark and I figured if Casey was going to stick to the bottom, I could get a good run around him on the top. The track crew did a crew job tonight with the track, we had both a top and bottom to run on.”
Dustin Strand parked his RealTruck.com #71 Millenium in victory lane for the second week in a row with his win in the UpNorth Financial WISSOTA Late Models.
Strand started back in the seventh position, but climbed his way up the running order each lap until he reached the second position on lap five. The defending RCS track champion got by Edginton on lap 14, it wasn’t pretty. While battling lapped traffic Edginton and Strand made contact coming out of turn four and both drivers nearly spun into the infield. When they emerged from the dust, Strand had the lead with Bill Mooney running in second. With Mooney right on his heels, Strand had to be perfect through the dense lapped traffic in the closing laps.
At one point, Mooney closed the cap to within one car length, but that would be as close as he could get as Strand went on to take the win over Mooney, Edginton, Zach Naastad, and Mike Balcaen.
Jeremy Lizakowski and Dallas Brevik led the field of 23 to the green flag with Lizakowski taking the lead. A series of caution slowed the pace for the first half of the race, but Lisakowski was able to remain the leader, until the restart on lap 11.
That’s when Schill flexed his muscle and drove around Lisakowski’s #96 machine to take the lead. Ricky Hamel was right in the mix as well and the top three drivers broke away from the pack in the late stages.
Hamel caught Lizakowski and they raced hard for the runner-up spot, which allowed Schill to distance himself. On the final lap Hamel cleared Lizakowski for second as Schill went on to take the win.
Bryce Reimer and Steven Richards started on the pole for the 15 lap Wells Concrete Street Stock feature. Reimer lead the first three laps before Ryan Flaten stole the top spot. Flaten went on to lead the remainder of the event, but he had his hands full with Ryan Johnson in the final laps. Johnson cut down Flaten’s lead from 10 car lengths to just five car length in two laps, but ran out of time as Flaten took the win.
Overloaded. Creates a new RSBarCharts.TRSHighLowAverageChartValue instance and adds it to the Items array. The new instance is initialized with the X, Average, High, Low, Caption, and Color parameters. Call Add to create a high/low/average bar value in the collection. The new value is placed at the end of the Items array, or, if the collection is Sorted, placed at the sorted point in the collection (based on a default value (0)).
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