Markets in Focus

Factors: Where´s the Value in Defensive Positioning
Special Topic: Industry Momentum

Global equities were down in Q3 2021 ending a run of five consecutive quarters of positive returns. The MSCI Momentum and MSCI Minimum Volatility Indexes lead the performance among the MSCI ACWI Factor Indexes. While equity markets have delivered strong returns in the last year, rising concerns of stagflation may give rise to defensive positioning. Among defensive factors, minimum volatility has had historically low valuations relative to quality.

Join this webinar as our experts discuss factor, thematic, climate and ESG indexes performance and look at how the two most popular defensive factors – quality and minimum volatility – compare in terms of relative valuations to guide the investors in their portfolio allocation decisions.

In this webinar we will also discuss industry-level momentum that has shown significant historical premium. We will share insights on the existence of industry momentum within a broad global universe and investigate its relationship with stock momentum.

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Agenda Topics

Factors in Focus: Where’s the Value in Defensive Positioning?

• Review of factor performance and ETF flows in Q3, 2021
• Defensive Positioning: Quality vs Minimum Volatility
• Indicators for factor performance going into Q4, 2021

Thematic, climate and ESG indexes performance in Q3, 2021

Special Topic: Industry Momentum

• Industry Momentum vs. Stock Momentum
• Capturing the Industry-Momentum Premium