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BGA Global Country Allocation Framework (Borealis G-AF) is our transparent and intuitive framework for classifying about 250 cross-sectional anomalies (“factors”) across 9 “factor groups” that were gleaned from academic literature published over the last 30 years. Borealis aspires to be at the forefront of structuring and standardizing factors for country- and industry- based investing, and accordingly, G-AF creates common parlance and characterizations around country- and industry- level index factors for creating feasible country and industry allocation strategies for ETF sponsors, global allocation specialists, institutional money managers, portfolio managers, investment advisers, equity analysts, financial services companies, rating agencies, and financial data analytics firms.

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Value Factor
Momentum Factor
Size Factor
Quality Factor
Price Risk Factor
Reversal Factor
Seasonality Factor

9 Factor Groups

250 Factors

Countries with superior macroeconomic drivers of equity returns outperform countries with inferior drivers.
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Value factor


Countries with low valuation ratios outperform countries with high valuation ratios.

  • Dividend Yield (DY)
  • Sales-to-Price Ratio (SL/P)
  • Sales-to-EV Ratio (S/EV)
and many more...
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So how do we apply these factors?

We have applied these factors in our BGA Factor Data Engine and more. Explore our products today and see why Borealis aspires to be at the forefront in the field of country selection.

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