Dr. Djordje Zivkovic
Partner
Dr. Djordje Zivkovic
Partner
Dr. Djordje Zivkovic brings a robust background in strategy and finance, grounded in academic excellence and practical consulting experience. As a postdoctoral researcher at leading institutions such as the University of St. Gallen and the University of Liechtenstein, he applies analytical thinking and strategic foresight to the evolving intersection of strategy, innovation, and finance – among other areas, in the context of factor-based investing and modern asset management. His professional experience includes strategic consulting and financial advisory, where he leveraged financial analysis to support the development of data-informed strategies and decision-making approaches for corporate clients. He holds a doctorate (summa cum laude) in Business Economics and a Master of Arts in Accounting and Finance. Recognized for his academic achievements and data-driven approach, he has been awarded for outstanding research receiving the Best Dissertation Award from the Government of Liechtenstein and being selected to participate in the prestigious Lindau Nobel Laureate Meeting in Economic Sciences. As a passionate chess player and multiple-time Munich youth champion, he also enjoys football and tennis- balancing intellectual rigor with athletic discipline.
Averdas’ Differentiated Factor Investing Approach provides a groundbreaking perspective on achieving alpha, focusing on productivity enhancements to meet the challenges of a rapidly evolving economic environment. By leveraging non-linear, data-driven methodologies, Averdas introduces next-generation factors built on productivity that go beyond traditional style factors like value, momentum, size, and quality.
Our approach revolves around four key productivity-driven factors:
- Asset Factor: Highlights long-term productivity gains from investments in capital, technology, and intangible assets by identifying firms maximizing returns in these areas.
- Process Factor: Focuses on operational efficiency gains, measuring improvements in firms' core processes and capabilities.
- Resource Factor: Targets sustainability by optimizing water and waste usage ratios, ensuring a commitment to long-term environmental stewardship.
- Resilience Factor: Identifies firms prioritizing stability by maximizing return-to-volatility ratios, enabling balanced risk management during economic unpredictability.
What Makes Averdas Unique?
Traditional factors rely on static definitions and often linear exposures, constrained by conventional academic and industry models. Averdas, however, employs adaptive methodologies informed by alternative data and advanced analytics. Our productivity-focused factors generate complementary insights, enabling:
- Higher Diversification: Low to no correlations between Averdas’ factors ensure reduced risk and enhanced portfolio strength.
- Improved Predictive Power: By identifying distinct return sources, our factors provide robust and consistent results across varied macroeconomic conditions.
- Performance Optimization: The combined strengths of multiple Averdas factors create portfolios that are not only balanced but also tailored for resilience and superior returns.
Comparing Averdas Factors with Traditional Style Factors
By analyzing correlations between Averdas’ productivity factors and established style factors, our results demonstrate both low and negative correlations, signaling an ability to capture alternative, independent sources of alpha. For example:
- While traditional models often overlap in capturing similar characteristics, Averdas factors independently target unique productivity traits such as operational improvements and resource efficiency.
- Substantial alignment with broad market movements demonstrates consistency, coherence, and a methodical approach, rather than capturing arbitrary trends.
This independent and complementing nature of Averdas factors allows investors to significantly enhance their portfolios' effectiveness and competitiveness in dynamic and uncertain markets.
Why Invest with Averdas?
- Next-Gen Factor Insight: Step ahead of traditional returns by integrating productivity leaders identified through cutting-edge analytics.
- Proven Methodology: Built on rigorous validation and empirical evidence to ensure sustainable results.
- Diversification That Works: Independent factors address risk effectively while unlocking alpha sources overlooked by existing models.
Investors often follow conventional approaches, relying on similar inputs and achieving comparable performance outcomes. Averdas changes the narrative. We use alternative data, advanced algorithms, and a productivity-first strategy to uncover untapped investment opportunities. If you're committed to advancing your portfolio and aligning with an innovative, evidence-driven investing philosophy, consider Averdas fund solutions to stay ahead of the curve.
References are available on request detailing empirical studies supporting this methodology.
