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Zhen Wei
Managing Director, MSCI Research
About the Contributor
Dr. Zhen WEI is a Managing Director at MSCI and responsible for bringing MSCI’s integrated investment solutions to leading investors across the APAC region. In addition, he spearheads thought leadership on China, Global Investing, Factor Investing, ESG Investing and Asset Allocation. Previously, Zhen led the Asian Pacific team for the Global Cross Asset Systematic Research division at J.P. Morgan. He also has worked at Bank of America Merrill Lynch and Lehman Brothers. He holds a Ph.D. in statistics and a M.S. in financial mathematics from Stanford University, and has a B.S. degree from Peking University.
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Blog posts by Zhen Wei
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我们分析一种创新的行业均衡方法，以取得与市场类似的敞口，这可能有助于投资者在中国A股市场实施战略和战术资产配置。
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BLOG
A Sector-Balanced Approach to China A Mega-Cap Exposure
Aug 27, 2021 Zhen Wei , Shuo Xu
Learn MoreFor investors seeking exposure to the mega-cap segment of the China A market, a simple top-50 market-cap-weighted approach can lead to large sectoral biases. We explore how a balanced mega-cap approach may help.
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China provides global equity investors a unique set of opportunities and challenges as they evaluate a potential dedicated investment program and how to approach asset allocation from policy configuration to portfolio implementation.
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鉴于中国进一步开放金融市场，一些投资者指定了一个专门计划来负责处理与中国相关的一系列投资机会。
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In this first of a series of blogs covering specific index-inclusion stories, we explore China A shares’ inclusion in the MSCI Emerging Markets Index by looking back at how it occurred and what’s happened since with market and investor reaction.
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BLOG
Index Futures and the Expansion of Equity Markets in EM and Asia
Aug 4, 2020 Zhen Wei
Learn MoreGiven equity market growth in the emerging markets and Asia, and the dispersion of returns across individual subregions and countries, some have looked beyond traditional long-only approaches, to others, such as futures. We explore those options.
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Market turbulence amid COVID-19 presented risks and opportunities. We explore how indexes , combined with the use of fundamental data, provided a wealth of information to help identify potential market dislocations.
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BLOG
Outcome-Oriented Factor Investing with a ‘Barbell’ Approach
Jun 1, 2020 Zhen Wei , Shuo Xu
Learn MoreThough relatively new to wealth investors, index-based factor investing has some similarity to a high-conviction, outcome-oriented approach. We explore combining the two when seeking outcomes such as equity growth, yield enhancement and risk mitigation.
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BLOG
Asset allocation and index futures during market crises
Mar 25, 2020 Zhen Wei , Shuo Xu , Wei Xu
Learn MoreDuring market crises, institutional investors have employed derivatives contracts to hedge market risks or express views on certain performance/risk characteristics. We explore prior use of futures for exposure management and tactical asset allocation.
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机构投资者通常利用期货、期权等衍生品合约对冲市场风险，或在某些特定市场环境中表达投资观点。
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Previously, we have examined the relationship between ESG characteristics and financial performance in developed markets. In this blog post, we explore whether ESG characteristics have had financially significant effects in emerging markets and Asia.
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在我们研究的时间区间内，ESG 评级较高的股票在新兴市场和亚洲（日本除外）地区表现较好，整合ESG 提高了这些地区的回报。
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The toll from the coronavirus has been felt throughout societies, leading to repercussions on the global economy and financial markets. We examine investor impact through markets’ economic exposures to China and factors and by stress testing portfolios.
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BLOG
The coronavirus epidemic: Implications for markets
Feb 12, 2020 Zhen Wei , Jun Wang , Thomas Verbraken
Learn MoreThe toll from the coronavirus has been felt throughout societies, leading to repercussions on the global economy and financial markets. We examine investor impact through markets’ economic exposures to China and factors and by stress testing portfolios.
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The emerging-market (EM) equity segment has evolved substantially during the two and a half years since MSCI announced the inclusion of China A shares in the MSCI Emerging Markets Index.
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Beyond headlines: How markets responded to US-China trade talks
May 9, 2019 Zhen Wei
Learn MoreOur 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.
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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.
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Many institutional investors have long viewed China A shares as an inefficient market, suggesting that active strategies such as stock-picking can thrive. However, researching a universe of over 3,500 stocks comes with huge challenges, and may lead investors to question whether factor-based systematic strategies could have worked well with China A shares.
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The question of who wins or loses a U.S.-China trade war has more than two possible answers. While much of the analysis has focused on China’s heavier reliance on exports to the U.S., American companies (and those who invest in them) actually have greater revenue exposure to China than the other way around. In fact, 5.1% of the revenues of companies in the MSCI USA Index come from China and may be at risk as a result of a trade war. In comparison, only 2.8% of the revenues of the companies in the MSCI China Index come from the U.S.
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MSCI’s recent announcement that it will add 222 China A shares to its key benchmarks raises practical questions for global and emerging market investors.
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BLOG
What do rising interest rates mean for minimum volatility strategies?
Mar 13, 2017 Zhen Wei
Learn MoreMinimum volatility strategies have historically delivered above-average returns with below-average risk, especially in volatile market environments as have occurred in recent years. During this period, the world also has experienced low interest rates.
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Ever since central banks slashed interest rates in response to the Global Financial Crisis, investors have been searching for yield.