Center of Risk Management

HEC Lausanne

Université de Lausanne

1015 Lausanne


Projects in Finance


Sustainable investment


We analyze and develop investment strategies that allow investors to put the emphasis on particular dimensions of sustainability (environmental, social, and /or governance).

In a first research, we show that it is possible to increase the score of a portfolio without deterioration the risk-adjusted performance of the portfolio. However, such screening may affect regional, sectoral, and factor exposures of the new portfolio. We have developed an interface that enables investors to determine the consequences of their investment decisions.

In a second follow-up paper, we show how to implement an investment strategy that allows investors to also control for regional, sectoral, and factor exposures of the new portfolio.


Responsable real estate


Real estate is an important component of investor’s portfolio but the research on its connection with sustainability is still limited.

Our project is to evaluate the environmental properties of Swiss real estate.



Projects in Actuarial Sciences


We have the pleasure to announce the upcoming Summer School of the ASA organized by the Department of Actuarial Sciences from UNIL/HEC on june 3-7, hosted by HEC. The topic is "Enterprise Risk Management" and the website of the event can be found here: .