This biographical article is written like a résumé. (November 2021) |
Robert D. Arnott (born June 29, 1954[1]) is an American businessman, investor, and writer who focuses on articles about quantitative investing.
Robert D. Arnott | |
|---|---|
 Arnott in 2016 | |
| Born | June 29, 1954 |
| Alma mater | University of California at Santa Barbara |
| Scientific career | |
| Fields | Business, Finance, Investments |
| Institutions | Research Affiliates |
He is the founder and chairman of the board of Research Affiliates, an asset management firm. Research Affiliates develops investment strategies for other firms, and there are over US$166 billion assets under the management of firms using their strategies as of September 2021.[2] He edited CFA Institute's Financial Analysts Journal from 2002 to 2006, and has edited three books on equity management and tactical asset allocation.[3][better source needed] Arnott is a co-author of the book The Fundamental Index: A Better Way to Invest, and co-editor of three other books relating to asset allocation and equity market investing.[4]
Arnott has also served as a Visiting Professor of Finance at the UCLA Anderson School of Management, on the editorial board of the Journal of Portfolio Management, the product advisory board of the Chicago Mercantile Exchange, and the Chicago Board Options Exchange.[3][better source needed] He previously served as Chairman of First Quadrant, LP, as global equity strategist at Salomon (now Salomon Smith Barney), president of TSA Capital Management (now TSA/Analytic), and as vice president at the Boston Company.[5]
Arnott has received seven[6] Graham and Dodd Scrolls and Awards, awarded annually by the CFA Institute for best articles of the year, and has received four Bernstein-Fabozzi/Jacobs-Levy awards from the Journal of Portfolio Management and Institutional Investor magazine.[7]
Education and personal life
editArnott graduated summa cum laude from the University of California at Santa Barbara in 1977 with a degree in economics, applied mathematics and computer science.[5][8] While a high school student in 1970, he attended the Summer Science Program.[9]
He is married with three children. As of 2019, Arnott lived in Miami Beach, Florida.[10]
Writing
editArnott has published over 130 academic papers in refereed journals.[5] Topics of these papers have included the following: mutual fund returns, the equity risk premium, tactical asset allocation, and alternative index investing.
Career
editIn college, Arnott contemplated a career in either astrophysics or finance. He opted for finance after deciding his math skills were inadequate for making serious contributions to science, but above average for finance or investing, as he later recalled, "where hardly anyone was using serious math at the time.”[11]
After college, he worked at Salomon Brothers and in 1998 became chairman of First Quadrant, LP.
In 2002, Arnott founded Research Affiliates, a Newport Beach, California-based investment management firm. As of June 30, 2021, about $171 billion in assets are managed worldwide using investment strategies developed by Research Affiliates.[12] The firm has been involved with fundamentally based indexes since mid-2004 and has worked with the FTSE Group to create indices based on this methodology.[13] Research Affiliates licenses its indexes to Schwab, Invesco and PIMCO.[14]
In November, 2009, Research Affiliates was granted a patent for their index methodology that selects and weights securities using fundamental measures of company size.[15]
Arnott co-manages the PIMCO All Asset Fund, a tactical fund of funds with $16 billion in assets as of March 2022, which can invest in any of PIMCO's many mutual funds.[16] This fund is intended to feature what Arnott calls "Third Pillar" options, meant to diversify beyond mainstream stocks and investment-grade bonds, and may include master limited partnerships, high-yield bonds, emerging markets debt, or liquid alternatives with the goal of boosting long-term portfolio performance.[17]
Political contributions
editArnott has given $750,000 to support the Club for Growth, a politically conservative group advocating lower tax rates. Arnott considers himself a libertarian, and opposes the Patient Protection and Affordable Care Act.[18] In 2015, Arnott donated $100,000 to America's Liberty PAC, a political action committee formed in support of Representative Rand Paul's 2016 presidential bid.[19]
References
edit- ^ Mooney, Attracta (March 18, 2016). "'Godfather of smart beta' defends attack". Financial Times.
- ^ "About Us - Research Affiliates". 3 January 2022.
- ^ a b ""Q&A with Rob Arnott" NAREIT - Capital Markets". January–February 2007.
{{cite web}}: Missing or empty|url=(help) - ^ "Wiley: The Fundamental Index: A Better Way To Invest".
- ^ a b c "Robert D. Arnott biography". Research Affiliates.
- ^ "All Past Graham and Dodd Award Winners". Taylor & Francis.
- ^ "Bernstein-Fabozzi/Jacobs Levy Award".
- ^ "Fundamental Index ETFs; The difference is fundamental" (PDF). Invesco PowerShares. 2009. Retrieved November 29, 2010.
- ^ "The Universal Times". Summer Science Program. February 2010. Archived from the original on July 28, 2011. Retrieved November 29, 2010.
- ^ "Rob Arnott | La Gorce Island | Miami Dade Most Expensive Homes". 4 June 2018.
- ^ "Back to Fundamentals with Rob Arnott".
- ^ "About Research Affiliates".
- ^ "How to Corral an Index Fund (with a new rope)", January 21, 2007, The New York Times
- ^ "RA Model Portfolios How to Invest" (PDF). www.researchaffiliates.com.
- ^ Laise, Eleanor (November 18, 2009). "Indexing Patent to Test Fund Firms". The Wall Street Journal.
- ^ PIMCO All Asset Fund: Overview. US News and World Report, accessed 06 May 2022
- ^ "Rob Arnott on All Asset January 2016". 9 February 2016.
- ^ Yang, Jia Lynn (11 October 2013). "Here's who pays the bills for Ted Cruz's crusade". Washington Post. Retrieved 11 October 2013.
- ^ "These 2 Donors Are Propping up Rand Paul's Super PAC". HuffPost. 24 July 2015.