Two quantitative credit specialists at Robeco Institutional Asset Management BV have been awarded a Graham and Dodd Scroll Award of Excellence for 2017 for their work on factor investing in corporate bonds.
Patrick Houweling, executive director, researcher and portfolio manager, quantitative credits; and Jeroen van Zundert, researcher, quantitative credits, received the accolade for an article titled "Factor Investing in the Corporate Bond Market." The article shows that factor investing works for corporate bonds.
A statement provided by a spokesman for Robeco said: "We're very excited and humbled at the same time, to receive such a prestigious award. It was our goal to bring evidence-based investing, well-established in stock markets, to corporate bond markets, and clearly our story is being heard."
Robeco has €161 billion ($192.2 billion) in assets under management, with €53 billion managed based on quantitative models.
The Scroll award is given by the CFA Institute's Financial Analysts Journal in recognition of excellence in research.
The FAJ awards two scrolls. The second was awarded to Steven L. Heston, a finance professor at the University of Maryland, and Nitish Ranjan Sinha, principal economist at the Board of Governors of the Federal Reserve System, for their paper "News vs. Sentiment: Predicting Stock Returns from News Stories."