Extended Viewer

HTML Displayer Portlet

Blog posts by ${journalArticleTool.getArticleHelper($renderRequest.getAttribute('com.msci.webmasters.liferay.contentviewer.resourcePrimKey').toString()).getArticle().getTitle($themeDisplay.getLocale())}

Extended-lister

Nothing was found.

Showing 1 - 50 of 340 entries

  1. BLOG

    Stress testing US-China trade wars 

    Oct 22, 2019 Thomas Verbraken , Anikó Maráz

    Learn More

    Amid ongoing U.S.-China trade tension, we have updated our stress test to consider three scenarios for how the situation could unfold — and their impact on currency, bond and equity markets around the world.

  2. BLOG

    Factors separated fact from fiction 

    Oct 16, 2019 George Bonne

    Learn More

    Technological advances have expanded the application of factors. What was the realm of quantitative investors has become more accessible, bringing greater transparency and potential insight into portfolio characteristics and performance drivers.

  3. BLOG

    Chinese convertibles: Equities in fancy dress? 

    Oct 14, 2019 Gergely Szalka

    Learn More

    Chinese corporate bonds that convert to A shares display equity-like characteristics. But investors who view these securities as equities in disguise are overlooking the complexities of the asset class.

  4. BLOG

    Retire in Monte Carlo? Simulating retirement outcomes 

    Oct 11, 2019 Anil Rao

    Learn More

    Despite global equity performance, U.S. DC plan participants may be ill prepared to meet retirement-spending needs. We assessed four equity-allocation scenarios, all following a common glidepath and bond allocation, to see which performed best.

  5. BLOG

    Stress testing Brexit: Deal or no deal? 

    Oct 9, 2019 Anikó Maráz , Thomas Verbraken

    Learn More

    Brexit has roiled markets since U.K. voters chose “leave” in the June 2016 referendum. We used our stress-testing model to examine how markets could react to deal and no-deal scenarios.

  6. BLOG

    Is Europe more than the sum of its parts? 

    Oct 8, 2019 Jean-Maurice Ladure

    Learn More

    Investors have a choice between investing in European stocks regionally or through local-country index-based portfolios. What are the pros and cons?

  7. BLOG

    What’s the downside in real estate? 

    Oct 4, 2019 Bryan Reid

    Learn More

    Real estate has always been marked by periods of expansion and sometimes painful corrections. But all cycles are not alike.

  8. BLOG

    Factors in Focus: Momentum hits a valuation speed bump 

    Oct 3, 2019 Waman Virgaonkar , Hitendra D Varsani

    Learn More

    The momentum-value spread saw one of the largest corrections in history over the summer. What does our model show going forward?

  9. BLOG

    Senior bonds in name only 

    Oct 2, 2019 Máté Maródi

    Learn More

    Write-down protection doesn’t extend to a new bond category issued by too-big-to-fail European banks: senior non-preferred. Investors in senior debt may wish to consider these bonds’ recovery risk.

  10. BLOG

    Is the US tech sector ignoring minority talent? 

    Oct 1, 2019 Meggin Thwing Eastman

    Learn More

    Looking in one’s backyard for human capital.

  11. BLOG

    MBS prepayment modeling: AI 1, Humans 0? 

    Sep 27, 2019 David Zhang , Joy Zhang

    Learn More

    Artificial intelligence has broken through in fields previously dominated by humans. Could AI surpass humans in modeling the complex risks of agency mortgage-backed securities?

  12. BLOG

    Should bank-loan investors worry about liquidity risk? 

    Sep 24, 2019 László Arany

    Learn More

    Have bank loans posed more liquidity risk than corporate bonds when the market was stressed? We compared various liquidity metrics for bank loans and high-yield bonds during the December 2018 high-yield sell-off to find the answer.

  13. BLOG

    Growth’s recent outperformance was and wasn’t an anomaly 

    Sep 20, 2019 Shubhangi Sharma , Mehdi Alighanbari

    Learn More

    Growth strategies have outperformed value strategies in recent years. Is growth’s recent performance an anomaly when we look at it in a long-term context? The answer: It depends on what you mean by a growth strategy.

  14. BLOG

    Is climate-change risk all about fossil fuels? Think again. 

    Sep 19, 2019 Michael Disabato

    Learn More

    When it comes to reducing greenhouse gases, investors tend to focus on fossil fuels and power generation. But other companies also need to adapt to a lower-carbon world. We look at the implications for five types of companies.

  15. BLOG

    Underwater assets? Real estate exposure to flood risk 

    Sep 17, 2019 Gillian Mollod , Will Robson

    Learn More

    Real estate investors are buying and leasing assets that might be jeopardized by a climate-changed world. A new analysis can help investors identify high-risk U.K. locations.

  16. BLOG

    Are rates and equities losing their balance? 

    Sep 16, 2019 Peter Shepard

    Learn More

    For most of the past two decades, a benevolent relationship between bonds and equity has prevailed as a central pillar of asset allocation. Falling equity markets consistently coincided with falling interest rates, providing an effective hedge between bond and equity allocations. Now, talk of weaker central-bank policy or a risk of deflation has many asset allocators focused on the future of the rates-equity correlation. 

  17. BLOG

    Back-to-school (momentum) blues? 

    Sep 13, 2019 Leon Roisenberg , George Bonne

    Learn More

    The U.S. price momentum factor, which we highlighted for elevated crowding scores and vulnerability to negative performance at the end of June, suffered sizable drawdowns in the first seven trading days of September.

  18. BLOG

    Real estate may be yielding less than you thought 

    Sep 12, 2019 Bryan Reid

    Learn More

    Income has long been an important part of real estate returns meaning yields are often heavily scrutinized by investors. However, headline yields do not factor in capital expenditure requirements which can vary significantly. Investors looking to better understand potential “free cash flow” positions of portfolios post-capex may want to adjust the yields they use to account for it.

  19. BLOG

    MBS investors: quantitative easing déjà vu? 

    Sep 5, 2019 Joy Zhang

    Learn More

    Despite the Fed’s silence on the matter, the MBS market may be indicating that a new round of QE is coming.

  20. BLOG

    Using multi-country multi-currency futures in portfolio management 

    Sep 3, 2019 Hitendra D Varsani

    Learn More

    Investors seeking to more tightly manage their exposures to regional or global benchmarks are turning to multi-country multi-currency futures.

  21. BLOG

    A smoother ride? Looking at factor-based asset allocation 

    Sep 3, 2019 Andrea Amato , Chenlu Zhou

    Learn More

    On the surface, holding-based asset allocation appears to produce stability. But is what you see always what you get? We investigate the pros and cons of a factor-based approach.

  22. BLOG

    Looking inside ESG indexes 

    Aug 30, 2019 Meggin Thwing Eastman , Guido Giese

    Learn More

    Many investors want to stick to their values or beliefs, as well as meet certain financial objectives. How can ESG indexes  help them address these goals?

  23. BLOG

    The last straw: Will plastic become the next stranded asset? 

    Aug 22, 2019 Samuel Block

    Learn More

    Oil and gas companies are accelerating investment in plastics, in response to the shift away from fossil fuels. But is this pivot sustainable? Could plastic become the next stranded asset?

  24. BLOG

    Where were the (factor) crowds this summer? 

    Aug 21, 2019 George Bonne , Leon Roisenberg

    Learn More

    When factors have historically become crowded, they’ve often experienced significant drawdowns in subsequent months. Which factors were relatively crowded at the end of 2018 — and how did they perform in the first half of 2019?

  25. BLOG

    A reality check for MBS duration risk 

    Aug 15, 2019 Yihai Yu

    Learn More

    Empirical duration data can be used to check whether models for mortgage-backed securities are accurately measuring interest-rate risk.

  26. BLOG

    The changing face of real estate portfolios 

    Aug 14, 2019 Bryan Reid

    Learn More

    Office and retail investments’ historic dominance of commercial real estate portfolios is decreasing, with other property types — including logistics centers, student housing, and data centers — increasing. This evolution highlights how technology and the search for yield have led investors to diversify and seek exposure to other property types.

  27. BLOG

    Liquidity risk under stress: Beyond bid-ask spreads 

    Aug 7, 2019 Diana Knipl

    Learn More

    Risk managers at investment funds are more and more focused on liquidity risk, as regulators have recently issued guidance that increases demands for liquidity stress testing. Although markets are currently considered fairly calm, the 2008 financial crisis showed how liquidity can deteriorate quickly under stressed conditions, resulting in widened bid-ask spreads. But by focusing solely on the change in bid-ask spreads, could investors underestimate their liquidity risk? The often-overlooked market impact — or the additional cost on top of the bid-ask cost for large trades — could also increase significantly, driving transaction costs still higher.

  28. BLOG

    Same target, different destinations 

    Jul 31, 2019 Anil Rao

    Learn More

    Target-date funds (TDFs) have gained wide adoption in U.S. defined-contribution plans over the last decade, aided by the proliferation of auto-enrollment features and the funds’ presentation as a “set it and forget it” approach.

  29. BLOG

    Have appraisers been too bullish on retail real estate? 

    Jul 30, 2019 Will Robson

    Learn More

    Media commentary has fixated on the shuttering of shops, while retail-focused REITs are priced at substantial discounts to the value of their assets. Have appraisers of retail real estate been excessively bullish?

  30. BLOG

    Home bias in fixed income: Has it helped or hurt? 

    Jul 29, 2019 Anikó Maráz , Andy Sparks

    Learn More

    Has global diversification historically helped reduce risk in the fixed-income portfolios of U.S. defined-benefit (DB) pension plans? Our backtests show that globalizing bond allocations would have increased risk measured relative to a liability benchmark. For such plans, home bias in bond portfolios would have reduced active risk over the period of our study.

  31. BLOG

    Three scenarios for Fed rate cuts 

    Jul 23, 2019 Andy Sparks , Thomas Verbraken

    Learn More

    A consensus has emerged that the Federal Reserve will lower rates in the coming months, but investors remain uncertain over the timing and magnitude of the cuts. What impact could three rate-cut scenarios have on markets?

  32. BLOG

    Where there’s smoke: Cannabis for investors 

    Jul 22, 2019 Aurélie Ratte

    Learn More

    Exposure to companies with ties to the cannabis industry raises challenges for investors. Some have sought to keep their portfolios cannabis-free while others have focused on long-term risks and opportunities.

  33. BLOG

    More than a feeling: Quantifying consumer sentiment 

    Jul 17, 2019 George Bonne , Rohit Mendiratta

    Learn More

    Among a flood of alternative data sources, consumer sentiment based on citations online stood out.

  34. BLOG

    Is there another Woodford waiting to happen? 

    Jul 11, 2019 Laszlo Hollo

    Learn More

    When the Woodford Equity Income Fund suspended redemptions on June 3, 2019, it showed how, when a fund’s liquidity profile is misaligned with its shareholder profile and redemption constraints, a single large redemption request can trigger gating. 

  35. BLOG

    Under the hood: Rating ESG funds 

    Jul 10, 2019 Michael Disabato

    Learn More

    Nearly $31 trillion in assets under management were invested in funds that consider ESG issues in their investing process as of January 2018, a 34% increase from two years previously. Transparency is key to understanding what this expansion means.

  36. BLOG

    Liquidity and correlation in the Chinese credit market 

    Jul 9, 2019 Manuel Rueda

    Learn More

    China’s stock market has drawn huge attention from global investors, especially as China A shares have been added to leading equity indexes. But the same cannot be said for the country’s 38 trillion CNY (USD 5.5 trillion) credit market, now the second-largest in the world. Despite the market’s overall size, foreign investor participation remains miniscule, with overseas bondholders accounting for less than 1% of the total holdings.

  37. BLOG

    Asian retail resilience: Have store hours affected performance? 

    Jul 9, 2019 Bryan Reid

    Learn More

    Industrial real estate has outperformed retail assets in recent years, but the trend has been less pronounced in Asia, where store hours, among other reasons, might have led to more resilient retail performance.

  38. BLOG

    Reverse convertibles: Worth the risk? 

    Jul 5, 2019 Gyorgy Kocsis , István Varga-Haszonits

    Learn More

    Do reverse convertibles offer any obvious risk-return benefits over high-yield bonds?

  39. BLOG

    Factors in Focus: Dynamic short term, strategic long term 

    Jul 2, 2019 Waman Virgaonkar , Hitendra D Varsani

    Learn More

    We review factor performance over the second quarter, provide the perspective of a long-term view and look to indications from our adaptive multi-factor model heading into Q3.

  40. BLOG

    Bank loans: Will crisis follow the search for yield? 

    Jun 27, 2019 Hamed Faquiryan

    Learn More

    In the post-2008 search for yield, investors have taken on considerable exposure to leveraged bank loans. We assess whether these loans pose systemic risk in the way subprime mortgages did during the last crisis.

  41. BLOG

    Beware of FRTB cliff effects. Sharp curvatures ahead. 

    Jun 20, 2019 Andras Rokob

    Learn More

    The Basel committee’s revised market-risk capital requirements contain a small surprise with potentially big implications. Cliff effects remain in the framework.

  42. BLOG

    Resilient carbon-transition portfolios: a road map 

    Jun 19, 2019 Dana Sasarean

    Learn More

    Is your portfolio ready for the transition to a low-carbon economy? Which companies, industries and sectors are positioned to benefit? Which ones entail greater risks? The answers are a lot more complicated than alternative energy is in and coal is out. 

  43. BLOG

    Uber vs. Lyft: Who’s at the wheel? 

    Jun 18, 2019 Ric Marshall

    Learn More

    Two companies, one highly disruptive business model, multiple big challenges looming. Few IPOs in recent memory have attracted more attention – or disappointed more decisively, initially – than the IPOs of ride-sharing groups Uber and Lyft. At the end of June 7, 2019, two months following its IPO, Lyft’s share price traded at 17.7% below its IPO price, while Uber’s ended that same day 1.9% lower. Could ESG considerations have played into investors’ thinking?

  44. BLOG

    European securitization at the regulatory crossroads 

    Jun 17, 2019 Miklós Vörös

    Learn More

    Have new European Union reforms clouded the future of the securitization market in Europe?

  45. BLOG

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

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

    Learn More

    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.

  46. BLOG

    Using alternative data to spot ESG risks 

    Jun 7, 2019 Samuel Block

    Learn More

    The amount of ESG-related information disclosed by corporations is on the rise, but investors still often lack a full understanding of financially relevant risks. How can they gain a better sense of where their investments are most vulnerable to ESG-related disasters?

  47. BLOG

    The rise of fundamental factors in China A shares 

    Jun 6, 2019 Oleg Ruban

    Learn More

    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.

  48. BLOG

    Fed policy, the credit cycle and real estate 

    May 28, 2019 Yihai Yu , David Zhang

    Learn More

    Amid the uncertainty over Federal Reserve policy, investors in commercial real estate (CRE) are confronting asset-allocation challenges and growing concerns about CRE valuation and debt levels, after an extended period of easy credit.

  49. BLOG

    What could stress emerging markets? 

    May 24, 2019 Thomas Verbraken

    Learn More

    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?

  50. BLOG

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

    May 9, 2019 Zhen Wei

    Learn More

    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.

-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

Showing 1 - 50 of 340 entries

Regulation