New and Notable
ARX receives up to 100 new submissions each month: academic papers, industry research, white papers, market analysis and others. Here is a curated selection of new and noteworthy posts from our institutional and individual contributors.
To browse or search ARX's repository of more than 3000 posts, select "Research" in the upper left-hand corner of the page.
WEBINAR: Has Luck Run Out for Luckin Coffee?
With high volatility in the market, impending recession, unconventional monetary policies, how do you value a company? What can we learn from the failure of the Chinese coffee chain Luckin Coffee?
1 June 2020 | CFA Society Malaysia: Ryan Tong Yee Chow, CFA, Chong Jin Yoong, CFA | Video: 1 hr 12 min
How to Identify a Quality LGFV
Local governments in China started setting up local government financing vehicles (LGFVs) after they were barred from direct borrowing in 1994. Each LGFV operates within its government’s jurisdiction and they don’t compete against one another.
28 May 2020 | Pengyuan International: Brian Lam, Jameson Zuo
WEBINAR: GIPS 2020 and Taiwan Research Findings
Eddie Chan, CFA, Asia Pacific GIS Product Channel Manager at CFA Institute, introduces the newly published Global Investment Performance Standards GIPS 2020. Professor Wei-Hsien Li, PhD, presents local research from Taiwan on the GIPS experience.
26 May 2020 | CFA Society Taiwan; Eddie Chan, CFA; Wei-Hsien Li, PhD | Video: 1 hr 14 min
VIDEO: Using the Sectors of the Future to Unlock Alpha Today
How are advisors with an eye on the future using the S&P Kensho New Economies to meet client goals today? Lenity Financial’s Mark and Lisa Bova join S&P DJI for a practical look at the sectors driving the 4th Industrial Revolution.
7 May 2020 | S&P Dow Jones Indices: Mark Bova, Lisa Bova | Video: 9 min
WEBINAR: Australian Credit Market Outlook and the Macro-economy
Fitch Ratings’ leading sector analysts discuss the implications of the global pandemic on Australia’s economy. The interactive webinar covers sovereigns, financial institutions, structured finance, corporates, infrastructure and ESG.
25 May 2020 | Fitch Ratings: James McCormack, Jeremy Zook | Video: 51 min
WEBINAR: How Green Are Green Bonds?
A review of green bond regulations in ASEAN with a focus on their alignment with global standards and on the progress Thailand, the Philippines and Malaysia are making in the development of their green bond markets.
21 May 2020 | Mary Leung, CFA; Yoon Mee Yeong, CFA; Juliette Macresy, CFA; Cedric Rimaud, CFA | Video: 1 hr 8 min
Practitioners' Insights: Investing Under Uncertainties (Webinar Presentation)
A webinar presentation on investing during the current unprecedented circumstances, with a multitude of moving parts, owing to the COVID-19 health crisis, with the effects penetrating global economies and equity markets.
13 May 2020 | CFA Society India: Kuntal Shah
ETF Industry in India
An overview of India’s ETF industry looks at its evolution since the first ETF was launched in 2001. It analyses the ETF market structure, market participants, policy, tailwinds, and headwinds. It also provides recommendations for the way forward.
23 May 2020 | CFA Society India: Sivananth Ramachandran, CFA; Nilesh Saha, CFA
Understanding the S&P Managed Risk 2.0 Indices
This paper explains the S&P Managed Risk 2.0 Indices, introduced by S&P Dow Jones Indices in collaboration with Milliman. These indices seek to provide core equity strategies with an embedded risk management feature.
14 April 2020 | S&P Dow Jones Indices: Tianyin Cheng, Vinit Srivastava, Joe Becker
Shareholder Activism in Japan: How traditional corporate culture is being challenged
Shareholder activism is on the rise in Japan, but has not yet developed to the same degree as in the US or Europe, where investors are increasingly focusing on ESG issues. In Japan it is mainly concerned with governance and financial performance.
21 May 2020 | Nga Pham, PhD, CFA
Emerging Market Fixed Income: Development and Characteristics of the Asset Class
A look at the characteristics and evolution of Emerging Market fixed income since the 1980s, shows that it has grown into a substantial and investible asset class. The report debunks some frequent misperceptions of Emerging Market bonds.
20 May 2020 | FTSE Russell
Volatility and Returns: Evidence from China
Volatility-managed portfolios do not work well in China because past volatility positively predicts future returns. We propose volatility-scaled portfolio, an alternative portfolio management tool that exploits this empirical fact.
20 May 2020 | Yeguang Chi, Xiao Qiao, Sibo Yan, Binbin Deng
Fintech 2020: Technological Innovations in the Financial Services Industry
This report highlights a handful of fintech innovators in Islamic finance from around the globe. It defines the fintech landscape, presents recent trends, and helps understand how fintech can revolutionize the industry and Islamic finance.
19 May 2020 | CFA Society Pakistan
Sustainable Finance in Asia Pacific: Regulatory State of Play
An overview of developments in sustainability in major jurisdictions of Asia Pacific and international policy environment examines practical implications for industry participants and policymakers, and calls for international coordination.
13 May 2020 | ASIFMA, Herbert Smith Freehills
China's Transition Toward Electric Vehicles
With strong manufacturing base in battery and battery components - the core parts in electric vehicles - China has evolved to be sufficiently competitive in the global battery manufacturing battleground against Korea and Japan.
13 May 2020 | Pengyuan International: Danny Chen, Tony Tang
WEBINAR: Deep Dive into VIX and Market Volatility
Known as the market's "fear gauge", the VIX index and its related measures covering equity, currency and fixed income markets across the globe, have become go-to measures of uncertainty and turmoil in markets. How does VIX encode meaningful predictions about the future behaviour of the markets?
12 May 2020 | Tim Edwards, PhD; Franki Chung, CFA
VIDEO: Artificial Intelligence Applications in Finance
The young demographics of the Philippines is seen as an advantage. But as advancement in artificial intelligence becomes exponential, transforming science fiction into reality, we could see jobs becoming obsolete and machines replacing humans.
8 August 2018 | CFA Society Philippines, Dr. Noah Silverman | Video: 45 min.
Dissecting the Global Liquidity Crisis
The quarantines introduced in March 2020 have brought economic activity to a global standstill, triggering a bear market never seen before. The panic-selling across asset classes is considered unprecedented, even for crises. What are the safe havens?
12 May 2020 | Leveraged Growth: Aswini Bajaj, Aditya Bhatia, Rajul Jain, Ritwik Bhawsinghka, Muskaan Jain, Sonia Keswani, Racheta Chaudhary, Sudakshina Saha, Priyanka Dugar
Has COVID-19 Led to Financial Instability in China?
The COVID-19 crisis follows turbulent two years for China’s economy. Fiscal and monetary support measures have maintained stability in the banking sector and capital markets, but risks remain in small banks, real estate and export-focused industries.
30 April 2020 | Seafarer Capital Partners, LLC: Nicholas Borst
Are All Bond Ratings the Same? A Comparative Analysis of China's Domestic and Global Bond Ratings
We select a sample of China’s corporate issuers and asset-backed securities (ABS) with domestic and global credit ratings, to compare and analyse the differences in the two rating scales and the reasons behind such differences.
11 May 2020 | Pengyuan International: Ke Chen
WEBINAR: Recovery of China's Economic Activities
Fitch's senior analysts discuss the findings on China's domestic credit market conditions and property market activities, the observations on steel and construction sectors, and the views on energy consumption.
29 April 2020 | Fitch Ratings: Ying Wang, Jenny Huang, Adrian Cheng, Laura Zhai, Penny Chen | Video: 55 min.
SEMINAR: Investing through Booms and Busts
In this recorded seminar, Dr. Vikram Mansharamani applies a combination of practitioner experience and academic perspective to help audiences navigate the cross-currents of global economic, financial and political developments.
28 August 2019 | Dr. Vikram Mansharamani, CFA Society Philippines | Video: 1 hr 21 min.
The Impact of Covid-19 on Global Bond Markets
FTSE Russell's fixed income research specialist Robin Marshall provides insight into fixed income markets and the Covid-19 shock, with a deeper dive into emerging market sovereigns.
5 May 2020 | FTSE Russell: Robin Marshall
WEBINAR: CEO Insights - Communicating in a Crisis or a Crisis of Communication?
Miss Radhika Gupta, CEO of Edelweiss AMC, talks about client communication in times of crisis. The session is moderated by Mr. Rajendra Kalur, CFA.
1 April 2020 | Radhika Gupta, Rajendra Kalur, CFA, CFA Society India | Video: 60 min.
WEBINAR: Corona Financial Crisis: Is This Time Different?
Dr. Duvvuri Subbarao, 22nd Governor of the Reserve Bank of India discusses the impact of Covid-19 on India’s economy. The moderator is Dr. Samiran Chakraborty, Managing Director and Chief Economist for India at Citigroup.
13 April 2020 | Dr. Duvvuri Subbarao, Dr. Samiran Chakraborty, CFA Society India | Video: 1 hr 18 min.
ESG Disclosure in Asia: Key Findings from Hong Kong-Listed Companies
This webinar presentation includes a summary of research by CFA Institute on ESG disclosures in Asia-Pacific, and of a survey by BDO and PolyU SPEED on the performance of ESG reporting among Hong Kong-listed companies in 2018/19.
5 May 2020 | Piotr Zembrowski, CFA; Ricky Cheng; Dr. Artie Ng
COVID-19 Pandemic and Its Influence on Safe Havens: An Examination of Gold, T-bills, T-bonds, U.S. Dollar, and Stablecoin
Gold has lost its safe haven status against stock market losses during the COVID-19 pandemic as investors show preference for liquid assets. US Treasuries and the US dollar, however, continue acting as safe havens from stock market losses.
1 May 2020 | Muhammad A. Cheema, Kenneth R. Szulczyk
WEBINAR: Cashless Payment Industry - Sector Analysis
The webinar explores the growth potential and the evolving landscape of the cashless payment industry. It highlights the most important competencies a company needs to thrive in this sector.
29 April 2020 | CFA Institute: Eunice Chu, FCCA; Danny Leong; Alan Lok, CFA; Serhii Karpenko; Rostyslav Dyuk
Indian Life Insurance - Sector Primer: Success Is in Scalability
This sector primer on India’s life insurance analyses market dynamics, the competitive landscape and challenges facing the industry. It also analyses the market valuations and business fundamentals of India’s four listed life insurance companies.
29 April 2020 | Prudvi Raj Saya, CA
WEBINAR: Global, APAC Sovereign & Economic Outlook
Fitch Ratings’ experts discuss the firm’s recent rating actions and outlook changes, prospects for fiscal deterioration, and assesses the depth of the 2020 recession and the prospects for post-crisis recovery.
28 April 2020 | Fitch Ratings: James McCormack, Brian Coulton, Stephen Schwartz
Bangladesh and Global Macro Update: Unsustainable Divergence between US Stocks and the Economy
Massive collapse of demand from key export market economies as they contract will keep Bangladesh production limited and maintain pressure on job- and wage-cuts. US shows a massive bifurcation between tech winners and retail, travel, energy sectors.
28 April 2020 | Asian Tiger Capital Partners (BD) Limited: Ifty Islam
Defining “Brown” Is Harder Than “Green” But Credit Implications Are Greater: ESG Credit Quarterly - Q1 2020
Fitch Ratings’ first ESG Credit Quarterly uses ESG Relevance Scores and broad research to capture current trends, such as the role of litigation in driving “E” and “S” changes, or physical risks spurring climate policy debate.
20 April 2020 | Fitch Ratings: Mervyn Tang, Andrew Steel
ESG in Credit 2020: White Paper
Interest in the application of ESG to debt capital markets is growing, as asset owners demand reports on ESG performance of their investments. Fitch’s ESG Relevance Scores provide insight on how ESG factors affect credit risk.
17 April 2020 | Fitch Ratings: Andrew Steel, Mervyn Tang
China’s ABS through the Lens of Domestic Structured Finance Ratings
China's asset-backed securities market has seen tremendous growth in recent years. This report reviews unique characteristics of the market and analyses rating transitions of the structured finance ratings issued by domestic rating agencies in China.
27 April 2020 | Pengyuan International: Ke Chen, Shiyu Wang
WEBINAR: Sales Inducements in Asia Pacific
Based on a report by CFA Institute, the webinar reviews regulatory and industry practices around sales and distribution of mutual funds in Australia, Hong Kong, India and Singapore, with a focus on sales commissions, fees and their effect on mis-selling.
24 April 2020 | CFA Institute: Mary Leung, CFA, Sara Cheng, JD
What Next for Sustainability? The Post-Pandemic Corporate Agenda
The post-pandemic recovery may present an opportunity to address long-standing challenges of sustainable development, such as inequality and climate change, and drive companies to take a more comprehensive approach to environmental and social issues.
23 April 2020 | Carbon Care Asia (CCA)
WEBINAR: Q1 2020 Factor Performance Review for Investors in Asia-Pacific
FTSE Russell’s Philip Lawlor and Marlies van Boven discuss the impact of the Covid-19 correction on factor performance across the globe and how this compares with the 2008 GFC correction.
22 April 2020 | FTSE Russell: Philip Lawlor, Marlies van Boven | Video: 22 min.
Bangladesh Macro Update: Global Depression Risks Grow
The risks of a global depression along the lines of the 1930s are growing. Added to Coronavirus exit strategy uncertainties, we believe that consumer and business confidence will remain fragile after lockdowns are eased.
14 April 2020 | Asian Tiger Capital Partners (BD) Limited: Ifty Islam
WEBINAR: ESG Risks in the Natural Rubber Sector
Natural rubber industry is dominated by smallholders who often are unable to absorb the costs of sustainable practices. The sector to be overlooked by global sustainability initiatives. Negative social and environmental impacts present a risk to downstream companies and investors.
16 April 2020 | CFA Society Singapore, CFA Institute Asia-Pacific Research Exchange | Video: 1 hr 8 min.
Global Panel: COVID-19 Implications: Navigating New Realities in Today's Connected Markets
The global pandemic has shocked the world and impacted every aspect of our lives, leading to drastic economic disruption. To provide insight in these uncertain times, CFA Institute convened a special online panel discussion.
16 April 2020 | Jack Ablin, CFA; Nicholas J. Colas; Meredith Sumpter; Lauren Foster; CFA Institute | Video: 1 hr 17 min.
Impact of Covid-19 on Malaysian Financial Institutions and How to Respond
With the regulatory measures announced by BNM and statements issued by IFRS in response to the recent development of COVID-19, we explore its impact on Financial Institutions in Malaysia in terms of loan growth, earnings, provision, and liquidity.
13 April 2020 | Deloitte: Justin Ong CFA, Dr Chee Wei Yen, Su Je Hui CFA
Utility Instruments as a Possible Solution for Stressed Assets: Concept Paper
Non performing assets (NPAs) have significantly increased in the Indian banking sector. One of the solution for resolution of stressed assets and reducing the NPAs with the lenders can be issuing “Utility Instruments”.
17 April 2020 | Suhail Kothari
Using Corporate Reporting to Strengthen Sustainable Development Goals: Recommendations for National Policy Makers
The report presents five recommendations for governments and other policy makers on how they can use corporate reporting to strengthen the progress towards Sustainable Development Goals at the national level.
8 April 2020 | Global Reporting Initiative (GRI)
WEBINAR: Climate Change Integration in the Investment Process
Climate change presents a range of physical and transition risks for business and the financial industry. Investment professionals need education and tools to analyse and mitigate these risks. CFA Institute's Matt Orsagh presents an overview of the topic, followed by a panel discussion of industry experts in Asia-Pacific.
9 April 2020 | CFA Institute | Video: 1 hr 11 min.
This publication has been assigned 1 Continuing Education (CE) credit under the guidelines of the CFA Institute Continuing Education Program. We encourage CFA Institute members to login to the CE tracking tool to self-document these credits. You can find more CE content in the Continuing Education section of ARX.
Business Engagement in National Contributions under the Paris Agreement: Policy Recommendations on the Role of the Private Sector and Reporting
An analysis of the first round of Nationally Determined Contributions (NDCs) under the Paris Agreement includes recommendations for policy makers and businesses, trends, lessons learned, and examples of good practice.
11 July 2019 | GRI, CDP
Impact of Climate Change and Carbon Transition Risks on Credit: Scenario Analysis
Moody's expects a more pronounced decarbonization trajectory and more frequent and volatile extreme weather in the future. Given a wide range of possible outcomes, we use scenario analysis to help assess the credit impact for rated issuers.
10 March 2020 | Moody's Investors Service: James Leaton, Brian Cahill
Growth of Sustainable Debt in Emerging Markets: Deepening Focus on ESG
Emerging market (EM) economies are particularly susceptible to ESG risks. Increased focus on ESG credentials and top-down policy support will remain important in driving the growth and development of EM sustainable finance.
17 March 2020 | Moody's Investors Service: Rahul Ghosh, Anne Van Praagh
Bangladesh Coronavirus Update: Unprecedented Macro Challenges Require Unconventional Policy Measures
This report lays out how the COVID-19 pandemic is likely to affect the Bangladesh economy and offers a series of policy recommendations for the government to tackle the fallout of the crisis.
6 April 2020 | Asian Tiger Capital Partners (BD) Limited: Ifty Islam
S&P Leverage and Inverse Indices
The S&P Leverage and Inverse Indices aim to replicate the performance of their underlying indices with a constant multiplicative factor, positive or negative. They can be used as short-term trading tools for hedging and leveraging purposes.
31 March 2020 | S&P Dow Jones Indices: Tianyin Cheng
Bitcoin's Stock-to-Flow Pricing Methodology
The stock-to-flow pricing model, commonly used for gold, is applied to bitcoin. The upcoming reduction of new bitcoins coming into circulation (“halving”), expected in May 2020, will put this model to test.
3 April 2020 | Thomas Kuhn, CFA
Profitability Screening in Australian Small Caps
Do profitable companies outperform their benchmarks? This paper examines the effectiveness of a profitability screen on improving return and reducing volatility and drawdown for Australian small-cap stocks.
26 March 2020 | S&P Dow Jones Indices: Akash Jain, Priscilla Luk
FTSE Russell China Bond Research Report: March 2020
Net foreign inflows to China’s interbank bond market surged in Q4 of 2019. Policymakers from the central bank published draft rules to govern corporate bond default disposal in order to help the financial system guard against systemic risks.
1 April 2020 | FTSE Russell
Portfolio Factor Allocation Schemes
Factor allocation decisions are becoming a prominent consideration for factor investors. Which factors to allocate to, and in what magnitude, has a significant impact on investment outcomes and should be a key focus of investors.
1 April 2020 | FTSE Russell
In Focus: Addressing Investor Needs in Business Reporting on the SDGs
"Business Reporting on the Sustainable Development Goals (SDGs)" is a collaborative effort of the Global Reporting Initiative (GRI) and the United Nations Global Compact. It aims to provide guidance to businesses and accelerate reporting on the SDGs.
18 July 2018 | GRI, PRI, the UN Global Compact
How REITs Deliver Access to the New Economy
The growth and evolution of the REIT sector has given rise to an important new dimension of portfolio diversification. Of special interest are REITs investing in real estate that supports the rapidly growing technology sectors of the global economy.
1 April 2020 | FTSE Russell
Digital Technology and Inclusive Growth: Luohan Academy Report 2019 (Executive Summary)
The first report of Luohan Academy — a research outfit founded by Alibaba’s Jack Ma — focuses on the contributions e-commerce has made to China’s growth and on the inclusiveness of e-commerce, mobile payments and digital financial services in China.
29 March 2020 | Luohan Academy
WEBINAR: Bushfires and Coronavirus: Impact on Australian Credits and Economy
A webinar discusses the aftermath of the Australian bushfires on various sectors and the effect of the global spread of the coronavirus. The combination of the two is one of the worst "black swan" events of our time.
27 March 2020 | Fitch Ratings: Jeremy Zook, Tim Roche, Kanishka de Silva | Video: 35 min.
The Active Manager’s Conundrum
Below-average market volatility is typically associated with above-average returns. Should an active manager prefer to operate in a low volatility environment or a high volatility environment? What factors should influence this decision?
5 March 2020 | S&P Dow Jones Indices: Fei Mei Chan, Tim Edwards, Anu R. Ganti, Craig J. Lazzara
Towards a Digitised and Flexible Future: Asia’s Recruitment Trends - The 2020 Hays Asia Salary Guide
A growing caution from employers in response to market uncertainty, undimmed expectations of candidates, a growing acknowledgement of skill gaps and their impact on innovation are among trends highlighted in the annual recruitment and salary guide.
20 March 2020 | Hays
Sustainable Banking in ASEAN: Update 2019
2019 update of WWF’s annual assessment, which benchmarks major ASEAN banks’ ESG integration against a proprietary framework, reviews the sustainable finance landscape, and recommends ways for the ASEAN banking sector to drive sustainable development.
26 August 2019 | WWF: Chen Ted Kin, Jeanne Stampe, Naomin Tan
Eye in the Sky: Private Satellites and Government Macro Data
Advancements in satellite technology have made it possible to estimate macro-economic variables using commercial satellite data. Research suggests that such estimates can undermine governments’ control over macro-economic announcements.
31 December 2019 | Abhiroop Mukherjee, George Panayotov, Janghoon Shon
ESG Evaluation of SSE 50 Index Constituent Stocks on Epidemic Control
An analysis of a company’s behavior under an emergency such as the COVID-19 epidemic helps evaluate its resilience. The ESG Epidemic Control Valuation model developed by SynTao Green Finance serves as a supplement to the overall ESG assessment.
20 March 2020 | SynTao Green Finance
China Express-Delivery Blue Book
China’s express-delivery sector will transit from a labour-intensive industry to a capital-and-technology intensive one, as key participants cut unit costs and improve efficiency through scale expansion and technological advancement.
4 March 2020 | Fitch Ratings: Karl Shen, Jenny Huang, Ying Wang
RESPOND - Resilient and Sustainable Portfolios
This report summarizes the analysis of 22 asset managers’ disclosures on their implementation of responsible investment (RI). It outlines how these asset managers disclose against WWF’s RI framework and how they can further push the frontier of RI.
27 January 2020 | WWF Singapore: Marie Gauthier, Keith Lee, Lauren Lynch, Lise Pretorius, Jeanne Stampe
Impact of COVID-19 on China A-Shares’ Supply Chains
China is at the centre of the world’s production needs. As the country continues to grapple with containing the contagion, production lines remain quiet, factories remain shut, and millions of workers are either displaced or restricted in movement.
29 February 2020 | MioTech: Jason Tu, Cara Liu, Maya Li
Finding Gold in All That Glitters: Exploring Sustainability Bonds in Asia Pacific Region
A historical overview of the green, social, and sustainable bonds in Asia-Pacific region presents the challenges faced by sustainability-conscious international investors and solutions that may be helpful in navigating those challenges.
4 March 2019 | Solactive AG, Carbon Care Asia
Resilient and Sustainable Portfolios: A Framework for Responsible Investment
This report introduces WWF’s Responsible Investment Framework. It provides context around why the framework was developed, its uses and sheds light on the underlying indicators and sub-indicators the framework analyses.
30 April 2019 | WWF Singapore: Keith Lee, Jeanne Stampe, Ted Kin Chen, Lauren Lynch, Lise Pretorius
WEBINAR: Coronavirus - Refinancing Risks for Chinese Corporates
This webinar assesses the refinancing risk posed by the coronavirus (COVID-19) epidemic and identifies Chinese corporates that face elevated risk in relation to their capital market debt maturities.
24 February 2020 | Fitch Ratings: Buddhika Piyasena, Matt Jamieson, Kalai Pillay, Ying Wang, Adrian Cheng, Laura Zhai, Kelvin Ho | Video: 46 min.
Asia Sustainable Finance Initiative: 2019 Annual Report
Based in Singapore, Asia Sustainable Finance Initiative (ASFI) is a multi-stakeholder forum that promotes best-practice, science-based sustainable finance across Asia. The Annual Report summarizes ASFI’s achievements since its launch in January 2019.
3 February 2020 | WWF Singapore
Fleeting Alpha: The Challenge of Consistent Outperformance
Leveraging S&P Dow Jones Indices' SPIVA U.S. Scorecard and Persistence Scorecard reports, this paper studies the degree to which outperforming funds from one period continue to beat their benchmarks thereafter.
27 February 2020 | S&P Dow Jones Indices: Berlinda Liu, Andrew Cairns
Business Challenges and Considerations for the COVID-19 Outbreak
As COVID-19 impacts business activities, the Association of Chartered Certified Accountants (ACCA) has conducted a survey of its members in Mainland China and Hong Kong SAR to understand the challenges companies face as a result of the epidemic.
9 March 2020 | ACCA Global: Eunice Chu, Yuki Qian
VIDEO: Practical Applications for VIX
What is (and isn’t) actually implied by VIX data? Steve Blumenthal, CIO at CMG Capital Management Group joins S&P DJI’s Ed Ware and Hamish Preston to explore what VIX data means and how to put Wall Street’s fear gauge to work.
23 January 2020 | S&P Dow Jones Indices: Steve Blumenthal, Ed Ware, Hamish Preston | Video: 8 min.
WEBINAR: Coronavirus Contagion – A Market Assessment
In this webinar, Philip Lawlor, managing director, global markets research discusses the impact of the coronavirus on market returns and gauges its effect on the global economy, the credit cycle and market drivers, such as profits and valuations.
16 March 2020 | FTSE Russell | Video: 26 min.
China Sustainable Investment Review 2019
A report by China Social Investment Forum and SynTao Green Finance presented at the 7th China SIF Annual Conference focuses on the sustainable investment practices of investment funds in China and reviews the country progress in ESG investment.
12 March 2020 | China SIF, SynTao Green FinanceDownload PDF >
WEBINAR: Using ESG Data to Simplify the Complex
As the interest in ESG investments continues to grow, data is critical to ESG portfolio construction. It can inform decision making and provide grater transparency. Data scientists explore the practical applications for investors.
4 March 2020 | S&P Dow Jones Indices: Steven Bullock, Jaspreet Duhra, Manjit Jus | Webinar: 58 min.Watch Webinar >
Top 10 Trends in Sustainable Investment in China 2020
Effects of climate change, materiality of ESG disclosures, product diversification, incorporation of ESG into fixed income, and Sustainable Development Goals as a product theme, are some of the new trends on China’s sustainable investing landscape.
12 March 2020 | SynTao Green Finance, China SIFDownload PDF >
The Valuation of Low Volatility
Low volatility strategies typically perform well when markets decline. They have been popular in recent years and some claim they are overvalued. It is possible to identify environments when low volatility strategies offer more bang for the buck?
20 February 2020 | S&P Dow Jones Indices: Fei Mei Chan, Craig J. LazzaraDownload PDF >
VIDEO: How Is the Sustainable Investing Ecosystem Evolving?
The launch of futures on the S&P 500 ESG Index has expanded the ESG toolkit for market participants. S&P DJI’s Mona Naqvi joins CME Group’s Tim McCourt and DWS’ Luke Oliver to discuss. (Video: 10 min.)
9 January 2020 | S&P Dow Jones Indices: Mona Naqvi, Tim McCourt, Luke OliverWatch Video >
Sustainable Banking Regulations in ASEAN: Raising the Bar
In this report, WWF assesses sustainable banking regulations and guidelines issued by financial regulators or banking associations in ASEAN countries, and looks at whether banks headquartered in these countries meet these increasing expectations.
9 December 2019 | WWF-Singapore: Sylvain Augoyard, Ted Kin Chen, Jeanne StampeDownload PDF >
Aviation Finance and Leasing: How Have Public Aircraft Leasing Companies Performed?
The aviation finance and leasing industry has seen large growth since the 1950s. This paper offers a look at the public aircraft lessors index performance against benchmarks and a performance analysis of the four acquired public listed lessors.
4 March 2020 | KPMG Ireland: David Yu, Ph.D., CFADownload PDF >
Shrinking Plastics: Implications of Tighter Regulations on the World Industry
If manufacturers ignore coming regulatory changes, companies with large exposure to commodity-type plastic products are more vulnerable to the risks caused by the decelerating growth in plastic demand and tougher regulatory environment for plastics.
27 September 2019 | WWF-Hong Kong: Peter Rawle, Jean-Marc Champagne, Sam HiltonDownload PDF >
New Underlying Trends in Chinese Cross-Border Investments
This study analyses China’s key investment characteristics: geographical preferences, investment compositions, and structural changes in industrial and foreign policies, such as Made in China 2025, financial liberalization, and One Belt One Road.
11 February 2020 | Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise: David Yu, Ph.D., CFADownload PDF >
Unconventional Risk Hedging Strategies at the End of the Cycle
After an epic plunge, US stocks have a high probability of rebound, but the economic outlook has deteriorated. The ChiNext remains very strong, although its strength will consolidate in the near term.
2 March 2020 | BOCOM International: Hao Hong, CFADownload PDF >
Investment Fundamentals of the Online Payments Sector: A Framework for Investors
Although the trend towards cashless payments is global, the pace, format and depth of coverage differ among jurisdictions. Service providers no longer need to rely on credit card vendors or retail banks, but must face issues of privacy and security.
5 March 2020 | CFA Institute: Alan Lok, CFA; Eunice Chu, ACCA; Guruprasad Jambunathan, CFA, FRM
For more articles in the series "Understanding Investment Fundamentals", visit the Sector Analysis page.
Asia’s Consumer Goods Sector: The Missing Link in Sustainable Palm Oil Demand
With 60% of global consumption, the battle over sustainable palm oil will be won or lost in Asia. Read about how investors can drive Asia’s companies to remove deforestation from their supply chains in this brief by the Good Growth Partnership.
3 February 2020 | Good Growth Partnership: Owen HauckDownload PDF >
S&P 500 Low Volatility Index: Five Decades of History Support Low-Volatility Anomaly
Low volatility indices have typically outperformed their underlying benchmarks on an absolute and a risk-adjusted basis. The low-volatility anomaly is universal: this observation applies over multiple time horizons, geographies, and market segments.
24 January 2020 | S&P Dow Jones Indices: Phillip Brzenk, Tianyin Cheng, Smita Chirputkar, Hamish Preston, Izzy WangDownload PDF >
Investment Fundamentals of the Mobile Gaming Sector: A Framework for Investors
The rise of smartphone usage and low-cost, high-speed mobile bandwidth has led to enormous growth of mobile games. The business is fast-paced, requiring agility and short build cycles, but also allows the passive collection of large amounts of data.
5 March 2020 | CFA Institute: Alan Lok, CFA, Eunice Chu, ACCA, Guruprasad Jambunathan, FRM, Chan Fook Leong, CFA
For more articles in the series "Understanding Investment Fundamentals", visit the Sector Analysis page.
About the Author(s)
Director: Scott Lee
Content manager, Editor: Piotr Zembrowski, CFA
Coordinator: Natalie Yiu