The Windham History

1988

1988

Windham is founded by Mark Kritzman to provide innovative solutions to sophisticated investors.

1989

1989

Windham begins managing money for institutional investors with active currency strategies—Rockefeller Foundation is first client.

1990-1

1990

Asset Allocation for Institutional Portfolios
by Mark Kritzman is published.

1996-2

1993

Mark Kritzman receives the prestigious Graham and Dodd Scroll Award honoring excellence in financial writing, for work that was published in The Portable Financial Analyst: What Practitioners Need to Know.

CFA Institute and Graham and Dodd Award Logos are trademarks owned by the CFA Institute.

1996

Mark Kritzman co-authors two books: Dictionary of Financial Risk Management with G. Gastineau and Currency Management: Concepts and Practices with R. Clarke.

Windham partners with State Street in forming State Street Associates, an industry-leading investment research think-tank.

1998

1998

Windham begins providing portfolio and risk management advisory services through State Street Associates to the world’s most sophisticated institutional investors.

1997 - Institute for Quantitative Investment Research, Europe

1997

Mark Kritzman receives the Research First Prize from The Institute for Quantitative Investment Research, Europe.

1999

1999

Research behind the Windham Turbulence Index™ is unveiled to better manage portfolios during calm and turbulent markets.

2000

2000

Puzzles of Finance
by Mark Kritzman is published.

1996-2

2002

Mark Kritzman is awarded his 2nd Graham and Dodd Scroll Award for his co-authored paper “The Mismeasurement of Risk.”

CFA Institute and Graham and Dodd Award Logos are trademarks owned by the CFA Institute.

2003

Mark Kritzman receives the prestigious Bernstein Fabozzi/Jacobs Levy Best Article Award, honoring innovative research and practice in portfolio management, for “The Hierarchy of Investment Choice,” co-authored with Sebastien Page.

Mark Kritzman begins teaching a graduate course in financial engineering at the Massachusetts Institute of Technology.

2006

Windham begins advising private clients on wealth management.

Mark Kritzman receives the prestigious Bernstein Fabozzi/Jacobs Levy Outstanding Article Award, honoring innovative research and practice in portfolio management, for “Are Optimizers Error Maximizers?”

2008

2008

Windham celebrates 20 years of financial innovation.

investment-insight

2009

Windham launches customized portfolios for a select group of private clients, investment advisors and small institutions.

Windham unveils the research behind the Windham Systemic Risk Index™.

2010

Windham opens a new office in Boston’s John Hancock Tower to house the firm’s expanded investment management services

The approach behind Windham Risk Regime Investing™ is introduced to help guide Windham’s dynamic asset allocation decisions through changing market conditions

The Windham Risk Regime Strategy is launched to provide institutional investors, financial advisors and private clients with a dynamic asset allocation strategy that integrates the Windham Risk Regime InvestingTM approach to manage risk through time.

The Windham Multi-Asset Income Portfolio is launched to offer investors a strategy that seeks high income while managing for capital preservation in fragile markets and capital appreciation in resilient markets.

2011

Windham expands its offerings to provide clients with active exposure to equities, fixed income and alternatives.

Mark Kritzman receives his 3rd Graham and Dodd Scroll Award for the co-authored paper In Defense of Optimization: The Fallacy of 1/N

CFA Institute and Graham and Dodd Award Logos are trademarks owned by the CFA Institute.

Mark Kritzman receives the prestigious Bernstein Fabozzi/Jacobs Levy Outstanding Article Award, honoring innovative research and practice in portfolio management, for ‘The Myth of Diversification’, co-authored with Sebastien Page.

investment-insight

2012

Windham surpasses $1 billion in assets under management

q-groupMark Kritzman wins The Q-Group’s 2012 Roger F. Murray Prize, honoring excellence in quantitative financial research, for his presentation, “Toward Determining Systemic Importance.”

2013

money-management-2013 Windham Capital Management named 2013 “Emerging Manager of the Year” by Money Management Intelligence

Windham Capital Receives Tactical Risk Management Award by aiCIO for its research-driven quantitative approach to managing risk at aiCIO’s 4th Annual Industry Innovation Awards in New York.

Mark Kritzman wins two Bernstein Fabozzi/Jacobs Levy Outstanding Article Awards for his articles “Risk Disparity” and “Liquidity and Portfolio Choice: A Unified Approach.”

Mark Kritzman and David Turkington are selected as the winners of the 2013 Peter L. Bernstein Award for their article, Liquidity and Portfolio Choice: A Unified Approach.

2014

Mark Kritzman’s “Liquidity and Portfolio Choice” is recognized in The Journal of Portfolio Management’s 40th Anniversary Issue.

Mark Kritzman’s article “What Practitioners Need to Know About Time Diversification” is featured in The Financial Analysts Journal’s 70th Anniversary Special Issue on Retirement Security.

Mark Kritzman is a contributing author in The Role of Currency in Institutional Portfolios with his chapter titled “Alternative Currency Hedging Strategies with Known Covariances.”

Windham Capital expands its offerings by launching the Risk Regime Conservative strategy and the Liquid Private Equity strategy.

2015

Mark Kritzman wins the Outstanding Article Award from Bernstein Fabozzi/Jacobs Levy for his article “The Divergence of High- and Low-Frequency Estimation: Causes and Consequences.”

Windham surpasses $2 billion in assets under advisement.

Windham moves to Boston’s Prudential Center to accommodate for consistent firm growth.