ARX Series
Most Read on ARX
(September - November 2020)
Overview
ARX is designed to bring together investment professionals in Asia Pacific and other regions to share their views, knowledge and experience, so that they can learn from their peers and thought-leaders. Below are the most often downloaded posts in the last three months.
To browse or search ARX's repository of more than 4,000 posts, select "Research" in the upper left-hand corner of the page.
COVID-19 Impact on Bangladesh Economy
Like in most other nations, the outbreak of COVID-19 pandemic is an unprecedented shock to the Bangladesh economy. The report explores the possible impact of the ongoing pandemic on the broad economy and major industries of the country.
22 June 2020 | LankaBangla Asset Management Co. Ltd.
Integration of ESG in Valuation – A Summary
With ample empirical evidence on how ESG factors affect corporates’ operating and financial performance, ESG has become a factor in investment decision making, presenting material risks and opportunities.
14 October 2020 | CFA Society India: Labanya Prakash Jena
The Growth of Multi-Asset Investing
Multi-asset investing has grown dramatically in popularity during the last decade. Together with passive investing, it is currently one of the fastest-growing segments of the global asset management business.
28 October 2020 | FTSE Russell
WEBINAR: Innovation in Islamic Banking
To compete with the conventional players, Islamic financial institutions must provide a unique and an attractive proposition to consumers and investors. They also have to navigate around the additional compliance responsibilities with Shariah requirements.
21 October 2020 | CFA Society Bangladesh, CFA Society Indonesia, CFA Society Malaysia, CFA Society Pakistan, CFA Institute | Video: 1 hr 38 min.
ESG-Screening and Factor-Risk-Adjusted Performance: The Concentration Level of ESG-Screening Does Matter
The benefit of ESG-screening outweighs the cost of increasing diversifiable risk until about 50% of low score funds are excluded from the eligible universe. Investors need to treat the concentration level of ESG-screening as a search parameter.
29 October 2020 | Ick Jin
WEBINAR: Invest in Your Career to Reach the Top: Equity Research
Equity research analysts work at a variety of companies, such as asset managers, investment banks, insurance, hedge funds, pension funds, and brokerages, which need to crunch data to spot trends or to decide on a valuation.
11 November 2020 | CFA Society Philippines: Charles William Ang, CFA | Video: 1 hr 2 min.
WEBINAR: ESG Integration in Fixed Income in Practice
In this webinar, second in the series on ESG in credit, we have invited investment managers and asset owners to provide real life examples of how ESG is integrated into fixed income in practice, such as ESG evaluation methods, performance measurements, reporting practices and the design of ESG investment products.
17 November 2020 | CFA Institute ARX | Video: 1 hr 11 min.
Global Emerging Markets Chartbook: October 2020
Key rating trends and drivers for emerging market sovereigns, financial institutions and non-financial corporates.
29 October 2020 | Moody's Investors Service
Evaluating Passive Value Strategies
Value investing is a well-known strategy that seeks to exploit perceived differences between a security’s price and an assessment of its true underlying worth. An investor should consider carefully which is the most appropriate value index to use.
25 September 2020 | S&P Dow Jones Indices: Jason Giordano, Jason Ye
WEBINAR: The Future of Blockchain - Blockchain Pushes Information Economics to the Next Stage, Trust Economics
Prof. Eric Maskin of Harvard University and Chen Long, Luohan Academy Executive Director, discuss the operation and mechanism design of blockchain technology, information asymmetry, signaling and other economic issues.
25 October 2020 | Luohan Academy: Ming Qiu, Ruobing Han | Video: 1 hr 3 min.
The Firm as a Data-Generating Mechanism
Big data is a strategically important resource. It is more likely to be a source of competitive advantage if it is generated in-house. Firms will be larger and more diversified because data analysis benefits from economies of scale.
5 November 2020 | Mark A DeWeaver
線上研討會: 探討科技股分析重點
沒有人可以否認整個科技行業對於股票市場的重要性。無論是S&P500還是NASDAQ指數都已衝破其歷史高位，這是非常不可思議的，特別是在實體經濟仍然被疫情籠罩的前提下。
這股科技熱潮是否代表全球經濟踏入新常態（New normal）的開端? 還是已經出現泡沫？2021年會不會是2000年的翻版？我們又應當如何分析不同科技公司的生意模式？還有最重要的問題：如何評估其合理價值以及如何衡量風險？對於以上的問題，我們將會在這個科技行業論壇中和大家一一探討。
“Evaluation of New Economy Technology Companies” - a World Investor Week webinar presented by CFA Institute, The Hong Kong Investor and Financial Education Council, ACCA Hong Kong and CFA Society Hong Kong. (In Cantonese)
2020年10月8日 | CFA協會，投委會, ACCA | 片長: 1小時40分鐘
WEBINAR: Fundamental Principles of Islamic Finance
Islamic Finance is a rapidly growing segment of the global financial system with total AUM of USD2.4 trn. The webinar provides an overview of its fundamental principles: prohibition on charging interest, excessive uncertainty, and profit sharing.
26 August 2020 | CFA Society Indonesia, CFA Society Malaysia, CFA Society Pakistan, CFA Institute | Video: 1 hr 15 min.
An Introduction to Sustainable Investment
What is sustainable investing? Who uses is? Why is interest in it on the rise? What impact does a sustainability focus have on performance? How can investors implement a sustainable investment portfolio?
22 September 2020 | FTSE Russell
WEBINAR: Opportunities and Challenges of ETFs in Asia Pacific: Should we worry about systemic risks?
Despite growth, ETFs in Asia Pacific still account for only 10% of the global ETF assets. What are the challenges facing ETFs in the region? Meanwhile, the immense popularity of ETFs in the United States has raised concerns of systemic risks, such as exacerbating market disruptions. How pertinent are such risks in Asia Pacific?
15 September 2020 | Simon Brailey, Deborah A. Fuhr, Anil Ghelani, CFA, Piotr Zembrowski, CFA | Video: 1 hr 3 min.
A Case for Dividend Growth Strategies
An allocation to companies that have sustainable and growing dividends may provide exposure to high-quality stocks and greater income over time, therefore buffering against market volatility and addressing the risk of rising rates.
20 August 2020 | S&P Dow Jones Indices: Tianyin Cheng, Izzy Wang
Inverting Factor Strategies: No More "Monkey Business"
Factor exposures drive the performance of diversified portfolios. This paper analyses the paradox of portfolio strategy weight inversion and explains why beating the market is not so easy that “a monkey could do it”.
23 September 2020 | FTSE Russell: Sergiy Lesyk, Peter Gunthorp, Andy Dougan
The Sudden Rise of Decentralized Finance: Opportunities and Risks for Financial Services
Although decentralized finance has the potential to disrupt traditional finance, leaders in incumbent financial services also have the opportunity to participate in it and shape its impact on their businesses.
9 September 2020 | BCG Platinion: Igor Mikhaelev, Kaj Burchardi, Paul-Emmanuel Tasiaux. Crypto.com: Kendrick Lau, Erik Lie
WEBINAR: Improving Transparency and Comparability of Investment Products with ESG-related Features
CFA Institute has issued a Consultation Paper on the CFA Institute ESG Disclosure Standards for Investment Products - a new, voluntary, global industry standard to establish disclosure requirements for investment products with ESG-related features.
21 September 2020 | CFA Institute: Chris Fidler, Deborah Kidd, Mary Leung, CFA | Video: 1 hr 28 min.
WEBINAR: Understanding Cryptocurrency and the Future of Money
Aaron Tang, Country Manager of Luno Malaysia and Faridq Ridzuan, CFA, discuss the evolution of money and its value, cryptocurrency as an alternative asset class, and trading with cryptocurrency.
11 October 2020 | CFA Society Malaysia | Video: 1 hr 5 min.
WEBINAR: ESG in Fixed Income
Webinar Series: ESG in Credit - Part I, presented by CFA Institute and Fitch Ratings
The growth of ESG investing has created a demand for ESG products and services that meet the needs of asset owners and investment managers. Initially focused on equities, investors are nowalso looking at the much bigger fixed income universe, which includes corporate bonds, public finance, project finance, and structured debt. How do ESG factors affect credit risk and how is this reflected in credit ratings?
4 August 2020 | Mervyn Tang, CFA; Mary Leung, CFA | Video: 1 hr 4 min.
Pakistan's Microfinance Sector
Microfinance institutions offer financial services to low income and underprivileged people in order to reduce poverty in the society. This research sheds light onto microfinance providers in Pakistan and the impact of COVID-19 on the sector.
15 September 2020 | The Pakistan Credit Rating Agency Limited: Saniya Tauseef, Aimen Noor
Climate Change Concerns and Mortgage Lending
We examine whether beliefs about climate change affect loan officers’ mortgage lending decisions. We find that loan officers approve fewer mortgage applications and originate lower amount of loans in abnormally warm weather.
6 October 2020 | Tinghua Duan, Frank Weikai Li
Singapore’s Fast Growing Fintech Sector
As the established ASEAN capital of fintech, Singapore is estimated to be the base for over 40% of all fintech companies in Southeast Asia, with more than 750 entities.
17 July 2020 | SGX: Geoff Howie
Amazon's M&A Strategy in India: Right Investments at the Right Time!
Amazon's India M&A strategy report serves as a primer for those seeking insights on the company’s key investment activities in India and development plans to expand services in its attempt to become an unbeatable “ecosystem” player.
27 August 2020 | Aranca: Ashish Rane
Money Left on the Table: Passive Investing and the Effects of Reconstitution
Passively managed funds own over half of the US equity market. Their performance suffers as they periodically adjust their portfolios when the underlying index is reconstituted.The negative impact of index reconstitution is exacerbated by thinly traded stocks and periods of low liquidity. How should investors reckon with this drag on performance? Can passive managers time their portfolio adjustments to minimize this effect?
26 August 2020 | Solactive AG
Download Part 1: Passive Investing and the Effects of Reconstitution (PDF) >
Download Part 2: Why You Should Think About the Timing of the Reconstitution (PDF) >
Download Part 3: A Deeper Look into the Effects of Liquidity and Reconstitution (PDF) >
WEBINAR: Timber, Pulp, and ESG Risk
This webinar helps financial practitioners understand the main ESG risks posed by the timber and pulp industry. The speakers discuss the challenges and opportunities they meet in the implementation of sustainable planting and forest management practices.
1 September 2020 | CFA Institute, ZSL SPOTT, CFA Society Singapore | Video: 1 hr 3 min.
VIDEO: How Does Passive Investing Work in Uncertain Times?
Can active managers protect investments in the time of crisis? S&P DJI’s Brent Kopp and Berlinda Liu take a closer look at the impact of Covid-19 on the performance of active and passive investments.
8 September 2020 | S&P Dow Jones Indices: Brent Kopp, Berlinda Liu | Video: 7 min.
WEBINAR: Covid-19 - A Disconnect between the Stock Market and the Economy?
Has the Covid-19 pandemic caused a disconnect between the real economy and the stock market? What are the real forces that are driving Malaysia's market now?
20 August 2020 | CFA Society Malaysia: Woon Khai Jhek, CFA, Jaccob Thomas, CF, Shu Heng Chuan, CFA, Phua Lee Kerk, CFA | Video: 1 hr 15 min.
Commercial Banking Sector in Pakistan
An analysis of the deposits and profitability of large, medium and small commercial banks in Pakistan, including a snapshot of the performance of Islamic banks and an overview of the effects of Covid-19 on the risk environment.
1 June 2020 | The Pakistan Credit Rating Agency Limited: Muhammad Noor ul Haq, Jhangeer Hanif
About the Author(s)
Director: Scott Lee
Content manager, Editor: Piotr Zembrowski, CFA
Coordinator: Natalie Yiu