Sources of return – such as quality alpha – that are not structurally tied to the direction of markets can be a valuable tool for diversifying portfolios Market betas have a positive expected return but can be subject to long periods of poor performance Finding sources of return that do not rely on markets going
Matt Scales, CFA, Head of Product Development and Strategy
Matt Scales is Head of Product Development and Strategy at Columbia Management. In this role, Mr. Scales leads a team of product development professionals in the retail and institutional product research and development process. Additionally, Mr. Scales is a regular contributor to Columbia Management Thought Leadership initiatives regarding risk-based investing. He joined the firm in 2011 and has been a member of the investment community since 1994.
Prior to joining Columbia Management, Mr. Scales was a client advisor at Bridgewater Associates. In that role he worked with a number of North American public and corporate pension plans consulting on the concepts of risk-based investing, alpha and beta, risk parity, diversification and portfolio construction. Earlier in his career, he held several roles at Putnam Investments, most recently as senior vice president and product management team leader for Putnam global and non-U.S. equity and currency strategies. Prior to this role, Mr. Scales had ex-pat assignments in both London and Sydney where he served in an investment specialist and relationship management capacity dedicated to the European and Australian/New Zealand markets, respectively.
Mr. Scales received a degree in economics from Rollins College, Winter Park, Florida, and an M.B.A. in finance from Boston University Graduate School of Management. In addition, he holds the Chartered Financial Analyst designation and is a member of the Boston Security Analyst Society.