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Showing 1 - 50 of 296 entries

  1. BLOG

    Lessons from Woodford: Shutting the barn door after the horses have bolted 

    Jun 14, 2019 András Bohák , Roman Kouzmenko , Dimitris Melas

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    The suspension of the U.K.’s Woodford Equity Income Fund highlights the value of regularly reviewing a portfolio’s factor exposures and liquidity characteristics for signs of style drift or deteriorating ability to redeem shares.

  2. BLOG

    Using alternative data to spot ESG risks 

    Jun 7, 2019 Samuel Block

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  3. BLOG

    The rise of fundamental factors in China A shares 

    Jun 6, 2019 Oleg Ruban

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    Commonly held perceptions about China A shares have influenced investors to think factor strategies may not work in the Chinese equity markets. Our research suggests this may be changing.

  4. BLOG

    Fed policy, the credit cycle and real estate 

    May 28, 2019 Yihai Yu , David Zhang

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  5. BLOG

    What could stress emerging markets? 

    May 24, 2019 Thomas Verbraken

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    Emerging-market equities and USD-denominated EM sovereign bonds started 2019 with a bang, but recent market turbulence caused by the U.S.-China trade standoff raises a pressing question: What could trigger the next EM downturn?

  6. BLOG

    Beyond headlines: How markets responded to US-China trade talks 

    May 9, 2019 Zhen Wei

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    Our analysis suggests that changes in equity-market valuations, analysts’ consensus earnings estimates and data on companies’ revenue exposure are metrics that provided insight into recent market and sector performances.

  7. BLOG

    Factor investing in Saudi Arabia: size matters 

    May 7, 2019 Saurabh Katiyar , Neeraj Dabake

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    Foreign interest has risen in Saudi Arabia following the easing of foreign-ownership limits. Our analysis shows investors would have benefited by controlling for exposure to small-cap companies.

  8. BLOG

    Game of Homes: Is winter coming for the domestic-equity bias? 

    Apr 30, 2019 Anil Rao , Raman Aylur Subramanian

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    Can we quantify home-bias risk in an allocation? And, what has happened when U.S. stocks ended previous multiyear runs of outperformance?

  9. BLOG

    Are you ready for uniform MBS? (Part 2) 

    Apr 26, 2019 Yihai Yu

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    Aligning prepayment speeds of Fannie Mae and Freddie Mac securities presents a major challenge to the success of uniform mortgage-backed securities (UMBS), which the two government-sponsored enterprises will launch on June 3.

  10. BLOG

    A more politicized Fed? The market yawns 

    Apr 16, 2019 Andy Sparks

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    Could the Federal Reserve Board (the Fed) become less independent, with political forces exerting more influence?

  11. BLOG

    The Right Tool: How Suitable is Your Real Estate Benchmark? 

    Apr 11, 2019 Amit Nihalani

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    You don’t have to be a master craftsman to appreciate the benefits of using the right tool for the job. Even the most casual do-it-yourselfer has experienced the frustration of using the wrong screwdriver for a particular job — one that doesn’t quite fit the screw properly and shreds the head, leaving it uselessly stuck in the wood without fixing anything.

  12. BLOG

    Need a Lyft? Why the IPO blew a tire 

    Apr 10, 2019 Alan Brett , Matt Moscardi

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    A week into the highly publicized IPO for Lyft Inc., the ride-sharing company, it’s hard to say it went exactly as planned.

  13. BLOG

    Are You Ready For Uniform MBS? (Part 1) 

    Apr 8, 2019 Yihai Yu

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    Fannie & Freddie will conclude Single Security Initiative (SSI) June 3, 2019, creating a single to-be-announced (TBA) market & a new TBA security: the uniform mortgage-backed security (UMBS)

  14. BLOG

    What Yield-Curve Inversions Have Meant For Markets 

    Apr 5, 2019 Alfredo Bequillard

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    Inversion of the yield curve has historically been a reliable indicator that a recession is coming. But what has it implied for stock prices and Treasury rates?

  15. BLOG

    Evaluating the impact of LIBOR fallback 

    Apr 3, 2019 Maks Oks

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    The planned discontinuation of LIBOR and other interbank offer rates sometime in 2022 will affect a large number of existing financial contracts based on these benchmarks.

  16. BLOG

    Factors in Focus: Risky start. Quality finish. 

    Apr 2, 2019 Hitendra Varsani , Waman Virgaonkar

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    We highlight the fast-moving rotation among factors that continued during Q1 2019. As we move into Q2 2019, this framework showed allocation changes in different factors.

  17. BLOG

    Saudi Arabia inclusion and emerging markets 

    Mar 28, 2019 Saurabh Katiyar

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    Saudi Arabian stocks will be included in the MSCI Emerging Markets Index and the MSCI ACWI Index in a two-step process starting in June this year. With the first step of inclusion of the MSCI Saudi Arabian Index coming shortly, we ask how inclusion of this Middle Eastern market would have affected the MSCI EM Indexes.

  18. BLOG

    Have High-Yield ETFs Created Liquidity Risk? 

    Mar 27, 2019 Reka Janosik

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    In the fourth quarter of 2018, redemptions of high-yield ETFs soared to approximately 25% of these funds’ assets under management (AUM), according to data provider IHS Markit.

  19. BLOG

    A new day for monetary policy? 

    Mar 22, 2019 Andy Sparks

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    Listen as MSCI’s Andy Sparks discusses potential implications of the US Federal Reserve’s sharply softening monetary policy, and whether the role of central banks has changed.

  20. BLOG

    Don't Confuse Capex and Asset-Value Growth 

    Mar 21, 2019 Niel Harmse

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    Measuring real estate growth is not a simple exercise; we run through it highlighting some common confusions

  21. BLOG

    Factors and ESG: the truth behind three myths 

    Mar 20, 2019 Guillermo Cano

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    There are misconceptions of the relationship between factors and ESG issues. We debunked three common myths about ESG, momentum, quality and smaller-cap stocks.

  22. BLOG

    Santander’s coco extension: The new market norm? 

    Mar 18, 2019 Imre Vörös , Gergely Szalka

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    Banco Santander announced it would extend — i.e., not call — its additional-tier-one contingent-convertible (coco) bond. Was the market caught off guard?

  23. BLOG

    The risk in risk-parity strategies 

    Mar 13, 2019 Thomas Verbraken

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    The relationship between bonds and equities may be especially important to investors who employ a risk-parity approach. In our analysis, as the bond-equity correlation turned strongly positive, the effect on risk-parity portfolios was much greater than that on traditional 60/40 equity/bond portfolios.

  24. BLOG

    Watching beta in volatile equity markets 

    Mar 12, 2019 Anil Rao

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    The U.S. equity market ended last year with a historic drawdown, and beta stood out as a driver of the market decline. But what happened when those losses starting reversing in early 2019?

  25. BLOG

    What innovative companies and women on boards have in common 

    Mar 8, 2019 Meggin Thwing Eastman

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    We examined constituents of the MSCI ACWI Index that had been recognized as innovators on one or more annual lists produced by Forbes, Fast Company, MIT Sloan and the Boston Consulting Group between 2015 and 2018.

  26. BLOG

    Are Subprime Auto Loans at a Tipping Point? 

    Mar 4, 2019 Joy Zhang , Yini Yang

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    Investors and the media have lately turned their attention to credit risk in U.S. subprime automotive lending — concerns that increased during the recent market volatility.

  27. BLOG

    Brexit, Black Wednesday and Real Estate's Currency Risk 

    Feb 25, 2019 Niel Harmse

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    When investors buy overseas real estate, they inevitably take on foreign-exchange exposure. The resulting currency-market dislocations resulted in near-term losses for some investors, but also created attractive opportunities for investors to buy real estate exposure in the U.K.

  28. BLOG

    Evaluating Emerging-Market Stocks through a Governance Lens 

    Feb 21, 2019 Raina Oberoi , Anil Rao

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    Emerging-market stocks generally are perceived to have lower governance standards than their developed-market counterparts. Less transparency is one factor behind this view. Some emerging-market companies may also disadvantage minority shareholders. How can active and index-based investors address these issues?

  29. BLOG

    Venezuela and the Specter of Recovery Risk 

    Feb 14, 2019 Hamed Faquiryan , Manuel Rueda

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    Venezuela unfortunately finds itself on the verge of political and economic collapse. From the perspective of investors in the country’s sovereign and corporate bonds, recovery risk is now likely a bigger consideration than default risk.

  30. BLOG

    What market volatility has meant for factors 

    Feb 13, 2019 Guillermo Cano

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    As investors continue to focus on factor investing in periods of heightened volatility, we ask how volatility has affected factor performance.

  31. BLOG

    ESG investing is here to stay 

    Feb 12, 2019 Diana Tidd , Raman Aylur Subramanian

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    Historically, environmental, social and governance (ESG) investing was about excluding stocks of undesirable companies from portfolios — often because they violated one’s sense of ethics or values. ESG investing has since expanded to include consideration of ESG criteria alongside financial ones. ESG is growing in importance among institutional, wealth and retail investors. In recent years, institutional and high-net-worth investors’ adoption of ESG, along with the subsequent growth in ESG assets under management, has accelerated.

  32. BLOG

    How mortgage fees affect rates and spreads 

    Feb 7, 2019 Yihai Yu

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    How could potential changes in U.S. mortgage policy and possible long-term industry trends affect mortgage-related fees and rate spreads?

  33. BLOG

    What Fed monetary policy has meant for factors 

    Feb 6, 2019 Raina Oberoi , Abhishek Gupta

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    As interest rates in the U.S. started increasing in late 2015, many investors expressed concerns over the impact that rising rates could have on their investments. However, the tone of the U.S. Federal Reserve (the Fed) shifted from “we’re a long way from neutral” in October last year to a more accommodative stance of “we will be patient” early this year, re-emphasizing that expression at the January 2019 Federal Open Market Committee meeting.

  34. BLOG

    2019 emerging real estate trends 

    Feb 5, 2019 Will Robson

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    https://www.msci.com/www/blog-posts/global-gateway-cities-the/0863554848

  35. BLOG

    What does Saudi Arabia inclusion mean for EM investors? 

    Feb 5, 2019 Saurabh Katiyar

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  36. BLOG

    Should we be surprised by earnings surprises? 

    Feb 1, 2019 Rohit Mendiratta , George Bonne

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    Early 2019 earnings season has already contained a number of high-profile surprises, such as Facebooks's, but how predictable are these surprises, and what happens when earnings surprises return to trend?

  37. BLOG

    What has affected minimum volatility index performance? 

    Jan 31, 2019 Waman Virgaonkar , Mehdi Alighanbari

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    As we head further into 2019, some of last year’s concerns, including market volatility and interest-rate uncertainty, continue to occupy investors’ minds. With the assumption that rates-related concerns continue and uncertainty looms in the global equity markets, the question is how minimum volatility indexes behaved in an environment dominated by these two opposing forces.

  38. BLOG

    Measuring real estate capital growth isn’t rocket science, is it? 

    Jan 28, 2019 Bryan Reid

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    In September 1999, NASA’s Mars Climate Orbiter was lost, at a reported cost of USD 125 million, due to a mix-up in measurements.

  39. BLOG

    CDS hedging: exploring all the options 

    Jan 23, 2019 Michael Hayes

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    The credit-default-swap (CDS) market previously offered a cost-effective means to make short-term hedges or place bets on an individual issuer’s credit.

  40. BLOG

    2019 ESG趋势展望 

    Jan 22, 2019 Linda-Eling Lee , Matt Moscardi

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    ESG投资者的漫漫长途已经开始,有很多人也开始支持这个长征1。我们2019年要关注的五个ESG趋势中的每一个,都包含可能被忽视的成本和机遇。

  41. BLOG

    2019年に注目すべきESGトレンド 

    Jan 22, 2019 Linda-Eling Lee , Matt Moscardi

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  42. BLOG

    ESG trends to watch in 2019 

    Jan 22, 2019 Linda-Eling Lee , Matt Moscardi

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    The long haul many are bracing for has already started for ESG investors. Each of our five ESG trends to watch in 2019 contain potentially overlooked costs – and opportunities.

  43. BLOG

    What would a “No deal” Brexit mean for markets? 

    Jan 17, 2019 Thomas Verbraken

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    Financial markets are increasingly edgy about prospects for the U.K. Parliament’s expected Dec. 11 vote on a Brexit deal with the European Union.

  44. BLOG

    Brexit and the risks of home bias 

    Jan 11, 2019 Jean-Maurice Ladure

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    Every so often, a country can be hit by a negative event — a tidal wave, a terrorist attack, a political uproar.

  45. BLOG

    From credit crunch to liquidity crunch: managing liquidity 

    Jan 10, 2019 András Bohák

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    California companies with no women on their boards are going to have to quickly up their diversity game.

  46. BLOG

    Silicon Valley’s women (on boards) problem 

    Jan 9, 2019 Meggin Thwing Eastman

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    California companies with no women on their boards are going to have to quickly up their diversity game.

  47. BLOG

    Factors in Focus: Navigating turbulent markets 

    Jan 8, 2019 Hitendra Varsani , Vipul Jain

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    In this inaugural Factors in Focus, we highlight the fast-moving rotation among factors that may have impacted investor portfolios during 2018, and we look to indications from our adaptive multi-factor framework. As 2019 began, this framework showed an overweight allocation to minimum volatility and quality, an underweight allocation to value, low size and momentum, and a neutral position on high dividend yield relative to a six-factor equally-weighted mix.

  48. BLOG

    Beaten-down beta 

    Jan 3, 2019 Roman Kouzmenko , Anil Rao

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    U.S. and international equity markets fell sharply to close out 2018. The MSCI USA Index fell 15% in the fourth quarter alone. (It fell a total of 6% for the year.) As we previously examined, investors began rotating from cyclical sectors and factors to defensive ones in June. This pattern continued, in earnest, until October.

  49. BLOG

    Equity markets in November – Do pro-cyclical risks remain? 

    Dec 19, 2018 George Bonne , Leon Roisenberg

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    In our recent blog, “Equity markets in October – Has the tide turned?” we highlighted a rotation from pro-cyclical to defensive factors and sectors that began in June and accelerated in October. We also found that crowding in the momentum factor in the U.S. remained high, which suggested continued risks to momentum and other pro-cyclical themes.

  50. BLOG

    Aligning portfolios with UN Sustainable Development Goals 

    Dec 13, 2018 Meggin Thwing Eastman

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    Is my money helping solve the world’s problems or making them worse? An increasing number of the beneficiaries of public funds, globally, are asking such searching questions about where and how their retirement funds are invested. Understanding how investments have an impact on societal issues can be much more complex and difficult to identify for institutional investors.

Showing 1 - 50 of 296 entries