The document provides an explanation of Risk Premia or Alternative Beta, describing it as a premium generated for taking certain types of risks. 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 investments, as well as FX carry and Rates term structure carry beyond the equity space. It notes that most well-known risk premia have been extensively analyzed in academic and practitioner literature.
documents/vol00010-efta01364445-pdf.pdf
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