Vanda is a global independent research company that provides tactical macro and strategic investment analysis to institutional investors.Speak to our team
We combine positioning, expectation and mass-market psychology to deliver outstanding macro insight.
Markets are largely efficient in the short-term. We focus on where expectations are, and where it’s most likely that future events will diverge from the collective forecast.
All things being equal, uncrowded trades are more profitable than crowded ones. We spend a lot of time analyzing where the crowds are, and trying to avoid them.
What’s the difference between long-term Treasury yields and the relative performance of cyclical vs. defensive equities? Not much. Our cross-asset focus lets us spot dislocations across asset classes.
Our investment horizon spans 3-6 months. Why? Because that’s the average duration of individual risk cycles in the post-crisis era.
Of course, markets can stay crowded longer than investors can stay solvent. Our analysis incorporates the catalysts most likely to force price discovery.
US macro data affect European sovereign yields. ECB actions impact Japanese equities. And Chinese policy drives EM currencies. We monitor it all.
The CIO Risk Report
Vanda’s flagship weekly research publication, with a high level summary of Vanda’s broad outlook for global markets and trade recommendations.
A weekly research product analyzing market themes and trends that matter to investors – minus the noise. Topics encompass everything from US retail investor behaviors, to BOJ and ECB monetary policy, to the market changing reaction functions towards Chinese economic data.
Data focused updates on how positioning data has changed week to week or highlighting an emerging positioning trend.
EUROPEAN TACTICAL STRATEGY
A weekly research publication analysing the latest European market themes and positioning trends that matter to investors. Taking a holistic cross-asset view in our research allows our clients to make smart tactical investment decisions.
EM TACTICAL STRATEGY
This weekly piece connects the dots for EM investors who want to look beyond country/regional themes and focus on how global macro events impact hollistic EM books.
Market adjustments are increasingly policy and politically driven. The Vanda Policy Brief seeks to anticipate and analyse crucial and market relevant policy themes for clients, helping navigate an increasingly volatile political setting.
The daily positioning update summarizes the markets dynamics with minimal information overload. It focuses on the main catalysts of the day and it helps to assess the reactions of the most followed asset classes. The summary is enriched with forecasts of systematic flows as well as other positioning metrics.
A monthly publication which focuses on the intersection between retail buying, capital flows, and policy catalysts that drive the structural decarbonization of portfolios. We aim to be thought leaders in understanding how this nexus evolves over the forthcoming global climate transition, seeking to provide tactical macro trading opportunities along the way.
TACTICAL ASSET ALLOCATION MONTHLY
This monthly publication provides a round up of Vanda's market calls and trades in a traditional asset allocation format. Aimed at providing asset allocators with a 3-month outlook in order to help clients tilt portfolio allocations and dial up or down risk on their core positions.
Vanda has created two online propriety data platforms, VandaTrack & Vanda Analytics, which provide clients with positioning and flow metrics across retail and institutional investors as well as global assets.
We conduct daily, weekly and quarterly risk calls with select clients, providing real time analysis of changing market conditions and tactical trade ideas.
For clients with specific research requests, we’re here to help. By having a research presence in New York, London and Singapore, Vanda can provide analysis through email and Bloomberg chat when you need it most.
VandaTrack provides daily data on retail investors’ net purchases of US single stocks and ETFs. Check the leaderboard of the most bought and sold securities on a daily basis, access a customizable web-based user interface, or use our API to automate the download of the data.Learn more
A data platform that allows investment professionals to efficiently browse thousands of positioning data points using a single portal. It aggregates public and private data to derive the current positioning environment for any given asset class.Learn more
7 Apr 2020
“You guys have been awesome. There is a lot of noise out there and we haven't listened to anyone, your stuff was the only stuff we incorporated at the bottom.”
Senior FX Trader, Investment Bank, London
12 Mar 2020
“I just wanted to say thanks and congrats – as far as I can recollect, it feels like you have called this perfectly.”
Head of European Cash Trading, Investment Bank, London
27 Mar 2020
“Thank you for your excellent analysis during the current crisis.”
CEO, Asset Manager, London
17 Mar 2020
“This is a fantastic product.”
Senior Equity Trader, Asset Manager, London
26 Mar 2020
“Thanks for your notes. Exceptionally good calls at both the top and the bottom of the market – impressive.”
Founder & CIO, Hedgefund, London
21 Sep 2020
“Great call with the market – congrats! Good content and as always, easy to read and process.”
Head EMEA Cash Equities, Investment Bank London
11 Mar 2020
“This is super insightful! What this tells me is without all the potential supporters being able to step in, the next leg down from retail selling could be quite devastated and painful… Thank you so much.”
Head of Quant Strategy and Risk, Wealth Manager, London
18 Mar 2020
“I really appreciate your work and I’m glad I have access to it. It’s differentiated and puts a great technical perspective on signals and flows.”
Equity Trader, Investment Bank, New York