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Showing 11 - 19 of 19 entries

  1. BLOG

    Is the bond-equity hedge slipping away? 

    Nov 1, 2018 Thomas Verbraken , Michael Hayes

    Equity Themes , Fixed Income , Integrated Risk Management

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    In October, the 10-year U.S. Treasury yield hit a 7-year high in response to strong economic news, contributing to the second major equity sell-off this year.1 If positive moves in yield continue to drive down equities, this would mean an end to the hedge between stocks and bonds that has been in effect since around 2002. Investors may seek alternative means of diversification, with potentially deep ramifications for strategic asset allocation decisions and multi-asset class strategies.

  2. BLOG

    Is Japan’s “lost decade” over? 

    Aug 14, 2018 Naoya Nishimura

    Equity Themes , Global Investing

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    The Japanese equity market’s spectacular crash in the early 1990s is referred to as the “lost decade.” Recently, this period has been extended to include the decade that followed. Despite this, most Japanese investors continue to favor an outsized domestic equity allocation. This home bias has come with a huge opportunity cost. Since the end of 1987, the cumulative return of global stocks was over 1,400% in yen terms, while the cumulative return of Japanese stocks was only 49%.

  3. BLOG

    Can investors win a U.S.-China trade war? 

    Jul 3, 2018 Anil Rao

    Equity Themes , Economic Exposure , Global Investing , Integrated Risk Management

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    With new tariffs in effect as of July 6, we investigate our earlier assertion that “while an expanded trade war could lead to a ‘lose-lose’ outcome, there could be greater impact for stocks in the U.S. Overall, they are more exposed to the Chinese economy than the other way around.”

  4. BLOG

    Diverging emerging markets: global equity markets in 2017 

    Jan 12, 2018 Anil Rao

    Equity Themes , Emerging Markets

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    The emerging markets rally, the U.S. dollar’s depreciation and the resurgence of global growth were the top three drivers behind a double-digit rally in global equities last year. Stocks were led by the MSCI Emerging Markets Index’s 38% return. Developed markets, as represented by the MSCI World Index, returned 23% last year. As we enter 2018, investors will monitor whether these themes continue into the New Year.

  5. BLOG

    How Institutional Investors Are Responding to Climate Change 

    Sep 14, 2017 Manish Shakdwipee

    Equity Themes , ESG Research , Fixed Income

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    How are institutional investors tackling climate-change risk in their portfolios? Thanks partly to global initiatives such as the Montreal Pledge and the Portfolio Decarbonization Coalition, both launched in 2014, many institutional investors have moved quickly to understand the long-term portfolio implications of climate change and to adopt climate-risk management techniques.

  6. BLOG

    Investing for the Long Run: ESG and Performance Drivers 

    Sep 4, 2017 Zoltán Nagy

    Equity Themes , ESG Research

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    We see a growing number of institutional investors seeking to avoid financial risks associated with environmental, social and governance (ESG) factors, or even to enhance returns by investing in companies that have strong ESG track records. As we wrote in an earlier blog post, these investors are typically looking to limit the number of companies excluded from their portfolios, both to avoid sacrificing diversification and to be active owners able to engage with corporate management.

  7. BLOG

    Are Market Valuations in Nosebleed Territory? 

    Aug 22, 2017 Dimitris Melas

    Equity Themes , Fixed Income

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    Markets have enjoyed a relatively long period of positive returns and low volatility, making some investors wonder if a correction is imminent. One possible trigger for a correction would be investors concluding that market valuations have become extreme, which could lower future returns.

  8. BLOG

    Fast-moving Markets: Revisiting the August 2007 Quant Crunch in Real Time 

    Aug 2, 2017 Anil Rao

    Equity Themes

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    When markets get volatile, stock prices can move very quickly in a short period. As we saw in the August 2007 “quant liquidity crunch”— now about to mark its 10-year anniversary — many quantitative equity managers could have benefitted from getting market insights in real time as they found themselves in crowded trades.

  9. BLOG

    What a Fed rate hike may mean for U.S. equity portfolios 

    Sep 28, 2016 Raman Aylur Subramanian

    Equity Themes , Factors

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    With the U.S. Federal Reserve expected to raise interest rates before the end of the year, institutional investors are focused on how an increase may impact their portfolios, including how different equity style and industry factors perform in different interest-rate regimes.

Showing 11 - 19 of 19 entries