ARX Series
New and Notable
Editor's selection
Overview
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 5,000 posts, select "Research" in the main menu.
Boomer, Consumer!
In this paper, MFS explores several trends that have contributed to the strong growth in US consumer spending and contemplate whether these trends can continue moving forward.
29 July 2024 | MFS Investment Management
China Offshore Bond Market 2024 Outlook
The China offshore USD bond new issuance dropped 39.2% in 2023 to USD62.3 billion due to interest rate hikes, tighter regulations, and lower investor confidence, while the China offshore RMB bond new issuance hit a record high of USD40.8 billion.
23 July 2024 | Lianhe Global
APAC Climate Action Progress Report
APAC firms are increasingly disclosing value-chain emissions and climate targets, reflecting progress in climate transparency. Smaller companies are lag in this area, and potentially face growing investor and regulatory pressure for disclosures.
15 July 2024 | MSCI
Morningstar's Guide to US Active ETFs - Observation and analysis of key active ETF trends
ETFs used to be synonymous with passive investing, but since 2019 organic growth for active ETF market has consistently exceeded 20% /year. Download the Morningstar report to gain insights into the rapid expansion and future implications.
2 July 2024 | Morningstar
Dhaka Stock Exchange (DSE) Performance in H1'2024
Bangladesh Market experienced correction in H1’24 following the floor price removal for most of the scrips, which released the pent-up selling pressure accumulated due to investor bearishness on the current macro environment.
2 July 2024 | BRAC EPL Research
Setting the Scene – Macro Foundations, Country and System, East and West - Section 2 of ''Rise from Crises"
To celebrate the 30th anniversary, the CFA Society Hong Kong has published “RISE FROM CRISES” which summarizes how Hong Kong rose from successive financial crises in the past 30 years,
30 June 2024 | CFA Society Hong Kong
Forces Driving Healthcare Spending and Innovative Drug Development
Hang Seng Indexes Company (HSIL) identifies significant growth potential for healthcare expenditure in China, with the Government Work Report emphasizing the importance of innovative drugs development. Read the research paper to find out more.
26 June 2024 | Hang Seng Indexes
Spotlight on Asian Credit – An Index Perspective
An exploration of the evolving landscape of USD-denominated bond markets across the APAC region, and indices’ potential as effective tools for assessing the performance of the underlying markets.
26 June 2024 |S&P Dow Jones Indices
CFA Society Beijing Podcasts: China Charter Chat
「特许金融街」是一档由北京金融分析师协会(CFA Society Beijing)发起，面向社会各界听众的金融访谈类播客，我们会邀请各金融细分领域的朋友们一起探讨资本市场热点，金融职场等与金融相关的热点话题。
27 June 2024 | CFA Society Beijing
Systematic ESG Risk and Hedge Fund
The author proposed a double-factor model to explain the co-movement of asset returns due to adjusted market risk and systematic ESG risk. It is possible to design hedge fund strategies that capitalize on systematic ESG risk that varies over time.
21 June 2024 | Ick Jin
Fixed Income Under the Spotlight - Exploring Tail Risks: What-If Scenarios in the Year of the Dragon
MFS's Co-CIO of Fixed Income Pilar Gomez-Bravo, shares her thoughts on three key tail risks and how they could impact the global fixed income markets and our portfolio positioning.
20 June 2024 | MFS Investment Management
Our Active Purpose: Lessons Learned From 100 years of Investing
The cyclical nature of financial markets has always presented a challenge to investors. Taking a long-term view and learning from history can lead to successful outcomes for those investors who are prepared
20 June 2024 | MFS Investment Management
Outlook 2H2024: Contrarian Thoughts/ 2024年下半年展望：逆共识的思考
In this note, Grow Research take a contrarian view to the entrenched bearish consensus, as the market is priced on the margin. “Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.”
17 June 2024 | GROW Investment Group
EBLSL Bangladesh National Budget Review FY 2024-25
Analysis of the Bangladesh National Budget for the fiscal year 2024-25 prepared by EBLSL Research. The report highlights the key areas of the budget, including the impact on the capital market, the economy, and various industries/sectors.
9 June 2024 | EBL Securities
The India Opportunity - Mr. Sunil Singhania, CFA | Podcast
Sunil Singhania, CFA, Founder of Abakkus Asset Management, shares his thoughts with Jolly Balva, CFA, on the next decade of India's growth story and explores the nuances of the key drivers of growth.
3 June 2024 | CFA Society India
Seven Questions for Selling Discipline
Learn the fundamental principles of disciplined selling in equity markets with this guide by Louise Yamada, CMT. Explore the 7 crucial questions to ask when considering a potential reversal of trend, ensuring preservation of capital in your trading.
22 May 2024 | CMT Association
Should Emerging Market Debt Investors Worry About Higher-For-Longer?
This paper explores the implications that higher interest rates may have for sovereign emerging market debt (EMD) investors.
20 May 2024 | MFS Investment Management
Market Capitalization in Malaysia: What Does It Tell Us?
The objective of this article is to explain the concept of market capitalization and demonstrate how it can be applied to real-world stock market valuation. The Malaysian Stock Market is used as a case study.
20 May 2024 | Yoke Yue Kan
Simplicity and Complexity — Striking a Balance in Sustainable Investing
This paper explores the implications that higher interest rates may have for sovereign emerging market debt (EMD) investors.
20 May 2024 | MFS Investment Management
CFA Society Beijing Podcasts: CFA Exam Interview with CFA Institute Education Team
Tune in to a CFA Society Beijing podcast to hear education team leaders shed light on the challenges candidates face. We also highlight CFA Institute values, curriculum development, exams, and other trending topics.
17 May 2024 | CFA Institute
Non-rating Action Commentary: China Is Reshaping Its Public Debt Structure
CSPI Ratings projects that the Central Government will take the lead in restructuring China's public debt landscape to control and resolve local government implicit debt. Read the analysis to find out more.
11 May 2024 | CSPI Ratings
Return Convexity in Trend Following
Paper examines CTA funds, noting reduced convexity in long-term signals vs faster ones. It suggests integrating non-trend signals for better returns, highlighting cross-sectional signals for return convexity and higher returns.
6 May 2024 | Versor Investments
Navigating the Climate Finance Landscape: From IPCC Revelations to Sustainable Investment Strategies
This article provides an overview of the sustainability business landscape in Asia and outlines how various industries are working towards the universal goal of 1.5°C as set forth by COP 28.
30 Apr 2024 | CFA Institute
Drugs Over Diet: Recent Advances in the Weight Loss Drug Category
We provide a high-level overview of recent developments in the weight loss drug category and explore how they may impact other industries. These highly effective drugs were born out of research to treat diabetes but have additional benefits.
24 Apr 2024 | MFS Investment Management
S&P Kensho New Economies Commentary: Q1 2024
Global equity markets continued to rally in Q1 2024, with the S&P Global BMI reaching a new record high. Performance breadth was healthy, with 38 of the 47 markets represented contributing positively to the quarterly gains.
24 Apr 2024 | S&P Dow Jones Indices
CFA Society Beijing Podcasts: China Charter Chat
「特许金融街」是一档由北京金融分析师协会(CFA Society Beijing)发起，面向社会各界听众的金融访谈类播客，我们会邀请各金融细分领域的朋友们一起探讨资本市场热点，圈内秘闻，金融职场等与金融相关的热点话题。
22 Apr 2024 | CFA Society Beijing
Case Study: PenSam Net Zero Indices
S&P Dow Jones Indices was engaged by PenSam, the Danish labor market pension fund, to develop a solution that corrected portfolio construction concerns that it had with its existing climate benchmark.
19 Apr 2024 | S&P Dow Jones Indices
Artificial Intelligence Opening Up New Investment Horizons
As artificial intelligence applications get more intertwined with our daily lives, this paper looks at size and outlook of artificial intelligence market. The paper also looks at various HSIL indexes which track performance of AI-theme companies.
18 Apr 2024 | Hang Seng Indexes Company Limited
Recorded Webinar: Advancing Talent Developments in Financial Services: Updates on Emerging Global Trends, Their Impact, and Talent Policy Strategies
Tune into this on-demand webinar to learn about HKIMR's latest research report "Advancing Talent Development in Financial Services: Emerging Global Trends and their Impact on Hong Kong". A distinguished panel of industry leaders also shared their insights on talent development, offering perspectives from the global scene, the Asia-Pacific region, and the Greater Bay Area.
16 April 2024 | CFA Institute; AoF; HKIMR; AIMA | Video: 1hr 23mins
Bridging the Fundamental Gap - Marrying Fundamental and Technical Analysis for Market Mastery
Using formula P=(F*V)S, the author highlighted inviolable link between long-term trends in stock prices and fundamentals, and how all good things that happen to price begin with superior fundamentals, valuation expansion, and optimistic sentiment.
15 Apr 2024 | CMT Association
eFinancialCareers 2024 Compensation Guide
The eFinancialCareers2024 salary & bonus survey had over 6,000 responses across dozens of the world’s most prominent financial services centers, asking respondents about their salaries, bonuses, work hours, job satisfaction, and more.
15 Apr 2024 | eFinancialCareers
Fixed Income Insights (China) – April 2024
China expands fiscal support in 2024 by issuing special government bonds, in addition to monetary policy stimulus. Chinese bond yields fell further in Q1 on monetary easing, but wide rate differentials drove sovereign spreads lower and a weaker yuan.
11 Apr 2024 | FTSE Russell
Fixed Income Insights (China) – April 2024
Following gains across the board in March, all key sectors of the Asian U.S. dollar bond market reversed their gains in April and the overall market ended the month with a 1.07% loss.
8 Apr 2024 | S&P Dow Jones Indices