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Afsaneh Mastouri
Executive Director, MSCI Research
Afsaneh Mastouri is MSCI's global head of fixed-income solutions. She and her team conduct research on global fixed-income markets and help clients solve their investment challenges using index strategies and systematic and factor solutions. Before joining MSCI, Afsaneh served as a senior interest-rate strategist with Crédit Agricole and Royal Bank of Scotland. She holds a master’s degree in finance from the London Business School.
Research and Insights
Articles by Afsaneh Mastouri
Net-Zero Glidepaths for Fixed-Income Portfolios
Research Report | Sep 12, 2023 | Afsaneh Mastouri, Juan SampieriA bond portfolio generates cash flows over time that include coupon payments and the face value of matured bonds, assuming no defaults. With controlled and systematic reinvestment of this cash flow, investors can gradually decarbonize their portfolios on a glidepath.
Understanding MSCI Climate Corporate Bond Indexes
Research Report | Jun 23, 2023 | Rohit Mendiratta, Afsaneh MastouriWe offer a comprehensive guide for investors to illustrate how a complex set of financial and climate targets and climate investment objectives can be simultaneously integrated into the construction of indexes as well as portfolios.
How Sovereigns Have Changed the Green-Bond Market
6 mins read Blog | Apr 19, 2023 | Afsaneh Mastouri, Bhaveer Shah, Vishakha PandeyGreen bonds’ issuance by governments has increased significantly and changed the green-bond universe and its indexes. Investors have had to adjust accordingly.
Corporate Bonds and Climate Change Risk
Research Report | Feb 22, 2023 | Afsaneh Mastouri, Rohit Mendiratta, Guido GieseIn this paper, we highlight to investors and portfolio managers the significance of climate-change risk for the value of corporate bonds, as well as provide a framework for further research in this area.
Net-Zero Alignment for Multi-Asset-Class Portfolios
7 mins read Blog | Sep 19, 2022 | Ashish Lodh, Guido Giese, Afsaneh MastouriAsset owners who want to keep global warming below 1.5 degrees Celsius (1.5°C) have a tough row to hoe.
How Did Climate Corporate-Bond Indexes Weather Market Volatility?
7 mins read Blog | Aug 31, 2022 | Afsaneh MastouriClimate indexes tend to have a lower weighting (relative to parent indexes) allocated to companies in the emission-intensive energy, utilities and materials sectors. Did these indexes underperform in the year to date, given high recent energy prices?
Low Carbon and High Liquidity for Bond Investors?
7 mins read Blog | May 4, 2022 | Afsaneh MastouriAs corporate-bond investors embrace decarbonization as a goal in portfolio construction and management and benchmark selection, the question arises whether decarbonization targets are at odds with other desirable index attributes, such as liquidity.
Managing Climate-Transition Risk in Credit Portfolios
6 mins read Blog | Jan 31, 2022 | Afsaneh MastouriCan managers take an active approach to systematically managing exposure of a corporate-bond portfolio to climate-transition risk? We investigate two different approaches to decarbonizing credit portfolios.