4 November 2025
Pavol Povala and Drew Barnden delivered a guest lecture to Masters students at Imperial Business School on the macro drivers of asset returns. The session explored how academic asset allocation theory can be translated into practical investment decision-making, drawing on Allocation Strategy’s research framework and proprietary models.
The lecture explored the requirements and rigour expected of models used by investors — what they need to capture, the analytical tools required to interpret them effectively, and how research can be translated into insights that genuinely inform investment decisions.
Through case studies of major market episodes—including the Global Financial Crisis and the COVID-19 pandemic — the discussion illustrated how macro drivers have shaped asset returns and portfolio performance during periods of significant market stress.
We appreciated the thoughtful questions from students and faculty and look forward to continuing the dialogue with the Imperial community.
About Allocation Strategy
Allocation Strategy is building the new standard for asset allocation analytics. We provide state-of-the-art analytics to institutional investors, built on decades of research and asset allocation expertise. Our tools equip investors to solve their most complex asset allocation problems and build resilient, high-performing portfolios.