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Katiyar Saurabh

Research and Insights

Articles by Katiyar Saurabh

    Bringing Value to the 21st Century

    8 mins read Blog | Apr 28, 2021 | Saurabh Katiyar , Mehdi Alighanbari , Arihant Jain , Katiyar Saurabh

    In the second post in our series, we further probe value’s underperformance over the past decade and ask if the historic definition of value remains relevant. We specifically look at whether a company’s valuation can be enhanced by reflecting R&D investments. 

    Beware high dividend yield traps

    Blog | Oct 25, 2019 | Saurabh Katiyar , Jean-Maurice Ladure , Ashish Lodh , Katiyar Saurabh

    During low interest-rate, high-volatility environments, some investors have turned to high dividend-paying stocks. However, overly simplistic approaches to selecting dividend-paying securities exposed investors to potential “yield traps.” Could these traps have been avoided?

    The MSCI Adaptive Hedge Indexes

    Research Report | Mar 10, 2016 | Stuart Doole , Jashu Krishna , Katiyar Saurabh

    Global equity portfolios expose investors to currency risk. Those wishing to minimize currency effects often hedge that currency exposure without touching their underlying international equity portfolios. However, currency fluctuations may also increase the investment returns and those movements can be sharp. We describe how the MSCI Adaptive Hedge Indexes use versions of four well-known currency indicators – Value, Momentum, Carry, and Volatility – to systematically determine a level of...

    Harvesting Equity Yield: Understanding Factor Investing

    Research Report | Dec 15, 2015 | Chin Ping Chia , Katiyar Saurabh , Wei Zhen

    Ever since central banks slashed interest rates in response to the Global Financial Crisis, many institutional and retail investors turned to high dividend-paying equities to meet their needs for income. However, a naïve high-yielding equity strategy can expose itself to various “yield traps,” such as those stemming from temporarily high earnings, high payouts or low stock price. We find that the yield factor has tended to perform well during a structurally low and rising interest rate...