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Wei Zhen

Wei Zhen

Managing Director, MSCI Research

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.

Research and Insights

Articles by Wei Zhen

    Foundations of Dedicated China Allocations: Part 3

    Report | Nov 4, 2021 | Shuo Xu , Wei Xu , Wei Zhen

    We present a framework to analyze market-capitalization-weighted indexes’ role in setting equity-risk-premium and capital-market expectations. It breaks return drivers into dividend yield, sales-per-share growth, profit margin and valuation change.

    Considerations for Dedicated China Equity Allocations

    4 mins read Blog | Mar 18, 2021 | Zhen Wei , Wei Zhen

    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.

    Emerging markets since China A shares’ inclusion

    Blog | Dec 5, 2019 | Wei Zhen

    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.

    China and the Future of Equity Allocations

    Report | Jun 12, 2019 | Wei Zhen

    With the partial inclusion of China A shares in the MSCI ACWI and Emerging Market Indexes, institutional investors are reconsidering how Chinese equities fit into their global and emerging-market portfolios. In this paper, we analyze and contrast different ways of configuring policy benchmarks, considering two broad options: an “integrated option,” with China as an indispensable part of a wider equity opportunity set; and a “dedicated option,” where China is treated as a separate equity...

    Are you ready for China A shares?

    Report | Jun 29, 2017 | Wei Zhen , Chin Ping Chia

    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: How does it affect their investment policy? How can they implement these exposures (whether or not they already have China A shares in their portfolios)? While inclusion of China A shares is a year away, institutional investors may want to start planning for how this change may affect their portfolios.  Longer term, if China continues...

    Currency Hedging: Adapting to Volatility

    Report | Apr 26, 2016 | Saurabh Katiyar , Stuart Doole , Wei Zhen

    In the past, institutional investors largely ignored currency hedging in their international equity portfolios. With the globalization of the equity portfolio and recent market volatility, they no longer can afford to do so. However, how to hedge foreign-exchange exposure is receiving renewed scrutiny. Static hedges have delivered higher risk-adjusted returns compared with unhedged portfolios over a long-term horizon. The static hedge, however, faces challenges in adapting to changing market...

    Harvesting Equity Yield: Understanding Factor Investing

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

    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...