Extended Viewer

Hitendra D Varsani

Hitendra D Varsani
Executive Director, MSCI Research

About the Contributor

Hitendra D Varsani is an Executive Director and Factor Strategist. Previously, Hitendra was Head of the Quantitative and Derivative Strategies team for EMEA and Asia at Morgan Stanley, where he led the development of a suite of investable global factor-based index strategies across asset classes. Hitendra holds a degree in mathematics and computer science from Kings College London, and a Masters in mathematical finance from Imperial College London.

HTML Displayer Portlet

Contributions by Hitendra D Varsani

Extended-lister

Nothing was found.
  1. BLOG

    Factors in Focus: Value Springs into Action 

    Apr 6, 2021 Waman Virgaonkar , Hitendra D Varsani , Hitendra Varsani

    Factor Indexes , Fixed Income , Factor Investing

    Learn More

    Value has historically outperformed in economic recoveries. With the reopening of the global economy we examined value’s performance against other factors, and exposures from our adaptive multi-factor model at the end of Q1. 

  2. BLOG

    Reopening Economies and the Resurgence in Value 

    Mar 31, 2021 Waman Virgaonkar , Hitendra D Varsani , Hitendra Varsani

    Factor Indexes , Global Investing , Factor Investing

    Learn More

    After 15 years of challenging performance, many have asked if value is still a valid investment strategy. But the reopening of the global economy following vaccination rollouts has reignited interest across stocks, sectors, countries and regions.

  3. BLOG

    How Are High-ESG-Rated Bond Portfolios Distinct? 

    Feb 5, 2021 Rohit Mendiratta , Hitendra D Varsani , Guido Giese , Hitendra Varsani

    Fixed Income , Risk Management , ESG Research

    Learn More

    ESG investing makes up an increasingly large footprint in equity portfolios, but ESG integration in bond portfolios is still in its early days. We examine the characteristics that make high-ESG-rated corporate-bond portfolios distinct.

  4. BLOG

    Factors in Focus: Val-come Back! Shifting Factors as the Cycle Turns 

    Jan 6, 2021 Waman Virgaonkar , Hitendra D Varsani , Hitendra Varsani

    Factor Investing

    Learn More

    In this two-year-anniversary edition of Factors in Focus, we reflect on the historical relationships between factor returns and macro cycles, which have provided useful information for investors looking to take an active stance on factor exposures based on their outlook.

  5. BLOG

    What ESG Ratings Tell Us About Corporate Bonds 

    Nov 11, 2020 Rohit Mendiratta , Hitendra D Varsani , Guido Giese , Hitendra Varsani

    ESG Research , Risk Management

    Learn More

    How did incorporating ESG factors affect the performance of corporate-bond portfolios? Did ESG add insights beyond credit ratings? How did ESG impact risk and performance of investment-grade and high-yield bonds? Short-dated versus long-dated bonds?

  6. BLOG

    Factors in Focus: Impact of Inflation on Style Factors 

    Oct 2, 2020 Waman Virgaonkar , Hitendra D Varsani , Hitendra Varsani

    Factor Investing , Global Investing , Risk Management

    Learn More

    Global equities continued to rally in Q3, brushing aside fear of a second wave of COVID-19 and a large economic slump. We review what it meant from an equity and fixed-income factor perspective and look at what our models showed headed into Q4

  7. COVID-19 has had a profound impact on how companies manage cash flows and liquidity. Bond investors face the possibility of increased leverage, rating downgrades and defaults. Can factors and ESG metrics shed light on these risks?

  8. BLOG

    Factors in Focus: How Trendy Is Your Style Factor? 

    Jul 6, 2020 Rohit Mendiratta , Hitendra D Varsani , Waman Virgaonkar , Hitendra Varsani

    Factor Investing , Risk Management

    Learn More

    As markets rallied worldwide, investors took on high-beta exposure and rotated away from stocks with lower risk. The latest edition of Factors in Focus explores the details.

  9. BLOG

    Using Derivatives to Manage Volatile Markets 

    May 4, 2020 Rohit Mendiratta , Hitendra D Varsani , Hitendra Varsani

    Emerging Markets , Global Investing , Risk Management

    Learn More

    We’ve previously noted growth in derivatives contracts to manage emerging-markets exposure in normal and stressed times. Now, facing a real-world stress test, how did investors use these tools? How have implied volatilities and option premium changed?

  10. BLOG

    Corporate-bond performance by factors and ESG 

    Apr 14, 2020 Rohit Mendiratta , Hitendra D Varsani , Hitendra Varsani

    ESG Research , Factor Indexes , Fixed Income , Risk Management

    Learn More

    The volatility seen in equity markets was also present among investment-grade corporate bonds,. We use factors and ESG ratings to dissect these bonds’ performance over Q1 2020.

  11. BLOG

    Factors in Focus: Risk sentiment and factor dynamics in a crisis 

    Apr 2, 2020 Rohit Mendiratta , Hitendra D Varsani , Waman Virgaonkar , Hitendra Varsani

    Factor Indexes , Factor Investing , Factors , Fixed Income

    Learn More

    We analyzed the market effects from COVID-19 and a Saudi Arabia/Russia oil-price war. We also examined – for the first time – credit factor performance. How did the quarter play out? What did our adaptive multi-factor model show as it ended?

  12. BLOG

    Did corporate-credit factors offer a risk-return edge? 

    Jan 24, 2020 Rohit Mendiratta , Hitendra D Varsani , Hitendra Varsani

    Factor Indexes , Factor Investing , Factors , Fixed Income , Risk Management

    Learn More

    Factors have gained popularity in equity investing for providing insight into the key drivers of portfolio risk and returns. Did tilting hypothetical fixed-income portfolios toward some bond-specific factors benefit investors?

  13. BLOG

    Factors in Focus: Will 2020 vision sharpen exposures? 

    Jan 6, 2020 Waman Virgaonkar , Hitendra D Varsani , Hitendra Varsani

    Factor Indexes , Factor Investing , Factors

    Learn More

    Some global equity markets reached all-time highs and experienced limited bouts of volatility over the course of 2019. But underneath the calm surface, we saw a high degree of dispersion among factors and sectors.

  14. BLOG

    Looking to the futures of emerging markets 

    Dec 11, 2019 Hitendra D Varsani , Hitendra Varsani

    Global Investing , Risk Management , Economic Exposure , Emerging Markets

    Learn More

    Emerging-market (EM) equities have delivered unique risk and return characteristics over the last 30 years. Are futures on EM stocks a liquid enough means to gain exposure during normal and stressed conditions?

  15. BLOG

    Factors in Focus: Momentum hits a valuation speed bump 

    Oct 3, 2019 Waman Virgaonkar , Hitendra D Varsani , Hitendra Varsani

    Factor Investing , Factors , Models/Client Cases , Risk Management

    Learn More

    The momentum-value spread saw one of the largest corrections in history over the summer. What does our model show going forward?

  16. BLOG

    Using multi-country multi-currency futures in portfolio management 

    Sep 3, 2019 Hitendra D Varsani , Hitendra Varsani

    Global Investing , Risk Management

    Learn More

    Investors seeking to more tightly manage their exposures to regional or global benchmarks are turning to multi-country multi-currency futures.

  17. BLOG

    Factors in Focus: Dynamic short term, strategic long term 

    Jul 2, 2019 Waman Virgaonkar , Hitendra D Varsani

    Factor Investing , Factor Research Group , Factors

    Learn More

    We review factor performance over the second quarter, provide the perspective of a long-term view and look to indications from our adaptive multi-factor model heading into Q3.

  18. BLOG

    Factors in Focus: Risky start. Quality finish. 

    Apr 2, 2019 Waman Virgaonkar , Hitendra D Varsani , Hitendra Varsani

    Factors , Global Investing , Factor Investing

    Learn More

    We highlight the fast-moving rotation among factors that continued during Q1 2019. As we move into Q2 2019, this framework showed allocation changes in different factors.

  19. BLOG

    Time to Revisit Fundamentals of Quality? 

    Jul 19, 2017 Hitendra D Varsani

    Factor Investing

    Learn More

    We have seen substantial rotation in factor index performance in the past 12 months. Value, the best-performing equity factor index in the second half of 2016, was the worst performer in the first six months of 2017.

Regulation