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Showing 211 - 220 of 441 entries

  1. BLOG

    Are Argentina and Turkey just the first dominoes to fall? 

    Oct 17, 2018 Limin Xiao , Thomas Verbraken

    Emerging Markets , Fixed Income , Risk Management , Integrated Risk Management

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    Argentina and Turkey have experienced sharp corrections in their currency and debt markets over the past couple of months, leading investors to worry about possible contagion to other emerging-market (EM) countries. Are other emerging markets heading in the same direction?

  2. BLOG

    Did FAANG stocks lead the US stock market drop? 

    Oct 15, 2018 Andrei Morozov , Jun Wang

    Factor Investing

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    Fears of a global slowdown have sent U.S. stock markets plummeting recently. Given FAANG stocks (Facebook, Apple, Amazon, Netflix and Google) have been a dominant force in driving U.S. market performance higher over the past few years, did these stocks lead the market’s downward trajectory?

  3. BLOG

    Quitting tobacco stocks without going through withdrawal 

    Oct 15, 2018 Zoltán Nagy

    Models/Client Cases , ESG Research

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    Despite strong headwinds, including renewed divestment pressure,1 the tobacco industry has proved quite resilient financially and outperformed the stock market over the past 18-1/2 years. So much so, that some institutional investors are now thinking of lifting tobacco bans in their investment policies. We found that most of the gains associated with holding tobacco stocks over this period were not specific to the tobacco industry, and could have been obtained in other ways. We also show it would have been possible to divest from tobacco without taking a hit to portfolio performance during our sample period.

  4. BLOG

    Is MBS refinance risk increasing? 

    Oct 12, 2018 Joy Zhang

    Integrated Risk Management

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    With the Federal Reserve raising interest rates and the majority of agency mortgage-backed securities (MBS) under the refinance threshold, how much do investors need to worry about refinance risk? Our model indicates that future refinance regimes would be similar to recent 2016 experiences, and this view is consistent with current behavior of MBS empirical durations. However, investors may want to remain vigilant, as the recent trend toward looser mortgage credit standards by agencies and regulators could increase the prepayment intensity of future refinance waves.

  5. BLOG

    How the low volatility factor has performed in China A shares 

    Oct 11, 2018 Zhen Wei

    Global Investing , Factor Investing

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    Which factors have performed best in the China A market, especially given its relatively high annualized market volatility? Is there too much risk to bear? We investigate the role that the minimum volatility factor has played.

  6. BLOG

    China A shares: The journey continues 

    Oct 10, 2018 Chin Ping Chia

    Emerging Markets , Global Investing

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    As China continues to open its capital markets to global investors and accessibility standards have improved, MSCI recently launched a consultation to explore increasing the weight of A shares in the MSCI Emerging Markets Index. Ultimately, we seek to reflect the full investable opportunity set — all of China accessible to global investors — in the benchmark, as we do in all MSCI Global Investable Market Indexes.

  7. BLOG

    How can active managers add factors to the portfolio? 

    Oct 2, 2018 Dimitris Melas

    Factors , Factor Investing

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    Discretionary managers use fundamental analysis to select stocks and construct portfolios that seek to beat the market. These managers face substantial headwinds in the current environment. From a business perspective, they are under pressure to reduce cost and improve performance. The market environment has also been challenging, as high correlations between stocks and the dominance of a handful of large technology companies have made it harder to generate alpha from stock selection.

  8. BLOG

    Managing Risk Over Different Investment Horizons 

    Sep 25, 2018 Jun Wang , Andrei Morozov

    Risk Management , Integrated Risk Management

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    Given high market valuations, some investors worry that a market pullback may be at hand. We saw markets gyrate earlier this year — what if volatility returns? How investors respond to changing market conditions may depend on their time horizons.

  9. BLOG

    Corporate disclosure in a TCFD world 

    Sep 24, 2018 Laura Nishikawa

    ESG Research , Global Investing

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    In June of 2017, the Task Force on Climate-related Financial Disclosure (TCFD) released climate-related disclosure recommendations to companies and investors that included a framework for better company disclosure and a request for climate scenarios as part of that disclosure. But for investors looking to incorporate environmental risk into their process, there might be a pretty big catch: We mapped over 140 MSCI ESG Research climate-related data points to the TCFD framework and found a significant gap between what investors need to know under these recommendations and what companies are telling them.

  10. BLOG

    GICS changes: Risk depends on how it’s measured 

    Sep 21, 2018 Daniel R. Barrera

    Models/Client Cases , Integrated Risk Management

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    As some very large companies switch sectors because of changes to the Global Industry Classification Standard (GICS®) structure, there will likely be implications for investors. We looked at how these changes may affect the risk profiles of six of the largest reclassified companies.

Showing 211 - 220 of 441 entries