The document provides an overview of Risk Premia or Alternative Beta, describing it as a premium generated for taking certain types of risk. It is a persistent source of return that can be accessed systematically. The document distinguishes between traditional risk premia, such as Equity Risk Premium or Credit Risk Premium, and other systematic investment strategies like Value, Quality, and Momentum in equity, as well as FX carry and Rates term structure carry. It notes that most well-known risk premia have been extensively analyzed in academic and practitioner literature.
doj/DataSet10/EFTA01387436.pdf
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