Sebastien Lieblich

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Sebastien Lieblich

Sebastien Lieblich
Managing Director and Global Head of Equity Solutions

About the Contributor

Sebastien Lieblich is Managing Director and Global Head of Equity Solutions within the Research & Product Development team at MSCI. The Equity Solutions Group’s specific focus is centered on client-directed research and involves designing, developing and delivering services and products. Mr. Lieblich specialized over the years in index construction and maintenance methodologies with a special focus on index rebalancing and market classification. He is also the chair of the MSCI Equity Index Committee and a regular member of MSCI Index Policy Committee.

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Blog posts by Sebastien Lieblich

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  1. Today, there are indexes designed to represent the performance of a wide range of investment segments, including market capitalization, geography, industry and, most recently, factors. They also are used as the basis for financial products, such as exchange-traded funds or derivatives. Much like Adam Smith’s “invisible hand,” they play a critical, behind-the-scenes role, reflecting the entire market’s views on valuations, rather than those of any individual or group of individuals.

  2. Among the unknowns hanging on negotiations over the U.K.’s leaving the European Union is whether Brexit will trigger an exodus of banking jobs to Continental Europe and what impact that could have on Britain’s economy. A number of financial institutions have discussed relocating some of their operations, leaving many real estate investors worrying about the potential fallout on their London office holdings.

  3. Amid recent worldwide political, economic and market uncertainty, how can you increase resilience of your real estate portfolio? The answer to this question boils down to prudent use of three simple portfolio construction strategies: Asset selection, sector allocation and global diversification.

  4. Emerging market equities have declined 5.4% since the U.S. elections on Nov. 8 (measured in U.S. dollars).¹ But they remain a significant source of the world’s stock-market capitalization and economic activity, constituting 11% of the global investable universe and 40% of the world’s wealth. How much do institutional investors want to allocate to this portion of the market?

  5. What effect has the United Kingdom’s vote to leave the European Union had on commercial real estate investments? Because of the lag in real estate valuations, we now finally have enough data to start making an assessment.

  6. The global market for professionally managed real estate investments grew marginally last year, reaching $7.1 trillion in 2015, up 2.8% from a year earlier, according to the latest annual survey by MSCI of the largest markets for real estate investment in 32 countries.

  7. While several U.K. open-ended real estate funds have suspended trading in the aftermath of Brexit, we find that London’s office market has about 30% exposure to non-domestic tenants who might decamp completely or shift some of their workers to Ireland or the Continent.

  8. Two roads lead asset owners into real estate: the private (direct and indirect) ownership route and the public equity route. With private assets, investors can analyze performance in detail, down to the asset and vehicle level.

  9. Brexit is forcing investors in U.K. real estate to grapple with uncertainty.
    While British equities tumbled 3.1% on the day after the U.K. voted to leave the European Union, shares of the country’s exchange-listed real-estate firms fell 15.4%.

  10. Last fall, MSCI announced the upgrade of real estate to a stand-alone sector in GICS®, the global industry classification standard jointly developed by MSCI and Standard & Poor’s, carved out from the financials sector.

  11. Commercial real estate’s risk /return profile may be attractive to a variety of institutional investors. Investors may be seeking a diversification effect to their total portfolio; a stable income stream from rent, or inflation protection and expected capital appreciation over the long term.