ARX Series
Most Read on ARX
(July - September 2021)
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.
WEBINAR: Overview of "ESG Integration Framework" for Investment Analysis
CFA Institute partnered with The Securities and Exchange Commission Thailand to conduct a webinar to help enhance the knowledge of ESG investing for local practitioners. The webinar is targeting local intermediaries, with aims to equip them with fundamental understanding and knowledge in providing ESG-related services to investors.
7 September 2021 | CFA Institute, SEC Thailand, CFA Society Thailand | Video: 1 hr 32 min.
WEBINAR: Responsible Investing - The ESG-Efficient Frontier
The question of whether ESG improves risk-adjusted returns continues to be debated. The investor's problem can be reduced to a trade-off between ESG and Sharpe ratio, and under this framework equilibrium asset prices satisfy an ESG-adjusted capital asset pricing model, showing when ESG increases or lowers the required return.
17 August 2021 | CFA Societies Australia, CFA Society Singapore | Video: 1 hr
A Dynamic Multi-Asset Approach to Inflation Hedging
In this paper, we construct a multi-asset index for inflation protection. First, we look into forecasting inflation. Next, we analyze the inflation sensitivity of various asset classes. Then, we identify strategies for different inflation regimes.
2 August 2021 | S&P Dow Jones Indices
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.
What does “Common Prosperity” Mean for China’s Stock Market? / “共同富裕”对中国股市意味着什么?
As China adopts “common prosperity” as its political and economic goal, and some foreign investors head for the exit, changing social confidence suggests that domestic investors will be clear winners.
从不同投资者群体持有的指数之间表现的差异可以看出，对于中国倡导的“共同富裕”这个概念，海外与国内投资者的理解截然不同。很显然，未来国内投资者将是中国实现“共同富裕”这一伟大目标更大的赢家。
25 August 2021 | Hao Hong, CFA, BOCOM International
Riders in the Storm: How Volatility Events Affect Private Asset Class Performance
We examine the average performance of the broad equity, fixed income, and private asset markets during a spike in VIX spike and in the pre- and post-volatility spike periods.
21 June 2020 | Junying Shen, PGIM
The Role of Diversification Return in Factor Portfolios
The Diversification Return has long been supposed to represent the incremental return associated with portfolios that are regularly rebalanced. Is a traditional factor-based explanation of such portfolio's performance more appropriate?
14 July 2021 | FTSE Russell: Sergiy Lesyk, Andrew Dougan
WEBINAR: The Emerging Asia Pacific Capital Markets - ASEAN
CFA Institute Research Foundation presents the results of its overview of emerging markets in Asia Pacific. This webinar, the third in a series, covers Indonesia, Malaysia and the Philippines.
7 September 2021 | CFA Institute | Video: 1 hr 3 min.
China’s Property Developers Struggle to Deleverage
China’s policy stance is expected to remain tight as it aims to strike a balance between financial stability and deleveraging. As more bank loans are replaced by lower seniority funding sources, Chinese developers will see their liquidity strained.
31 August 2021 | Pengyuan International: Winnie Guo, Brian Lam
Harnessing the Potential of Private Assets: A Framework for Institutional Portfolio Construction
We present a cash flow-driven asset allocation framework that analyzes how top-down asset allocation and bottom-up private investing interact to affect portfolio’s ability to respond to liquidity demands in a multi-asset, multi-period setting.
3 June 2021 | PGIM: Junying Shen, Michelle (Yu) Teng, Ding Li, Grace (Tiantian) Qiu
The Consequences of Ultra-Easy Policies: Global Economic Recovery, Markets, and Rising Policy Concerns
We examine the intended and unintended consequences of Covid-19 monetary and fiscal policies on economic recovery and the equity and bond markets. We also share comments on responses of central banks to address the rising policy concerns.
25 July 2021 | Aditya Bhatia, Yash Shah
The Role of Venture Capital in Modern Capital Markets: Practitioner's Brief
This practitioner's brief summarizes the CFA Institute 13 April 2021 webinar, which discusses the origins, current trends and the future of venture capital.
26 July 2021 | CFA Institute
An introduction to Collateralized Loan Obligations (CLOs)
We discuss key features of leveraged loans and collateralized loan obligations, which are a major financing source to the leveraged loan market. CLOs offer investors access to a diversified non-investment grade corporate credit portfolios.
8 July 2021 | FTSE Russell: Luke Lu, Elizabeth Han
Examining the Rise of Decentralised Finance: Trends, Challenges, and Opportunities: Practitioner's Brief
This practitioner's brief summarizes the CFA Institute 8 December 2020 webinar, which covered the basic structure of Decentralized Finance, including key advantages and limitations, as well as how this concept may evolve in the future.
8 December 2020 | CFA Institute
Comparing Value Factor Performance in Global Equity Markets
The purpose of this analysis is not to identify the reasons for the slump in Value, but to analyze its performance by region and the differences in the sources of Value performance.
8 July 2021 | FTSE Russell: Tamura Hiromichi, Alex Chen
CFA Society Malaysia FinTech Forum 2021
CFA Society Malaysia presents the inaugural FinTech Forum 2021 - a three-part series of webinars, which spotlight leading finance and investment industry speakers and practitioners.
2-16 June 2021 | CFA Society Malaysia
Alpha Enhancement in Global Equity Markets with ESG Overlay on Factor-Based Investment Strategies
The paper finds that higher alpha can be harvested by restricting investment exposure to the ESG theme combined with various style characteristics, as they display low systematic and idiosyncratic tail risks.
8 June 2021 | Subhransu Mohanty, Odette Mohanty, Mike Ivanof
Tokenised Securities in APAC: A State of Play
The paper provides updates on key developments in the tokenised securities space and what market participants think about the state of the tokenised securities market and ecosystem.
29 June 2021 | Laurence Van der Loo, ASIFMA
VIDEO: Invest in Your Career to Reach the Top
CFA Society Philippines presents a series of pre-recorded webinars in which experienced financial professionals talk about opportunities and challenges of pursuing a career in their respective areas.
8 July 2021 | CFA Society Phlippines
Corporate Finance (Video Length: 1 hr 4 min.) >
Data Science (Video Length: 47 min.) >
Fund Management (Video Length: 1 hr 24 min.) >
Regulatory Authority (Video Length: 58 min.) >
Risk Management (Video Length: 42 min.) >
Trading (Video Length: 1 hr 3 min.) >
Consulting (Video Length: 55 min.) >
Bangladesh Bank Monetary Policy Statement FY 2020-21
Bangladesh bank has announced an expansionary policy stance for the fiscal year 2020/21, with a high money growth rate and reduced policy rates, in response to the additional fund requirements for restoring the country’s economy affected by Covid-19. We present two papers analysing the policy statement:
- EBLSL Research: Monetary Policy Statement FY’21 Highlights (29 July 2020)
WEBINAR: Social and Sustainable Sukuk (Part 4 of the Islamic Finance Webinar Series)
With the global issuance of sustainable bonds reaching a record US$100 billion in the second quarter of 2020, and Shari’ah principles supporting profit-based initiatives with socio-economic impact, it should come as no surprise that social impact Sukuk are fast becoming a popular financing instrument.
3 June 2021 | CFA Institute | Video: 1 hr 39 min.
Sovereign Risk Monitor Methodology: How to assess sovereign risk including ESG issues?
This paper lays out a methodology that integrates holistically, and objectively, ESG performance and traditional economic and financial metrics in the sovereign risk analysis.
29 May 2021 | FTSE Russell: Julien Moussavi, Ph.D., Rayane Hanifi
WEBINAR: SRI Integration into Investment Decision Making
This webinar is the second in the series on sustainable and responsible investment organized in partnership with World Bank Group and CFA Society Malaysia. It focuses on the framework of integrating SRI in various aspects of the investment decision-making process. It presents real-life case studies to help investors better understand how leading investment practitioners are integrating SRI factors into their analysis and the investment process.
28 June 2021 | CFA Institute | Video: 1 hr 37 min.
Big Data for ESG Investing: Practitioner's Brief
This practitioner's brief summarizes the CFA Institute 15 April 2021 webinar, which sheds some light on how WeBank, a Chinese digital-only bank, utilises AI and alternative data sources to generate proprietary real-time data for ESG investing
15 April 2021 | CFA Institute
WEBINAR: ESG and Sustainability - International Policies and Reporting Frameworks
As ESG and sustainable investing become centre stage, concerns that the inconsistency and variation in ESG-related disclosures, terminology, and investment approaches may give rise to confusion and misunderstanding has also risen. A slew of new regulations and standards globally are being implemented to tackle the issue of greenwashing, raise transparency and disclosure for the benefit of investor protection and product development.
9 June 2021 | CFA Institute | Video: 1 hr 15 min.
WEBINAR: The Emerging Asia Pacific Capital Markets - India
After a massive capital markets transformation, India has two of the largest stock markets in the world and an expanding asset management industry. But further improvements will be needed for India’s markets and economy to achieve their potential.
8 July 2021 | CFA Institute | Video: 1 hr 4 min.
Independent Directors in Asia Pacific: Regulations and Practice in Selected Markets
An overview of regulations and practices concerning independent non-executive directors in listed companies in Australia, Hong Kong SAR, India, Japan, Malaysia, and Singapore.
21 June 2021 | Sivananth Ramachandran, CFA, Piotr Zembrowski, CFA, Sara Cheng, JD, Mary Leung, CFA
China Market Strategy: Outlook for the Second Half of 2021 - Value Still Striking Back
China’s PPI-CPI gap is approaching its historical peak last seen during the 2016 supply-side reform. It is another sign that the cyclical strength is about to crest. Concurrently, the PBoC’s balance sheet expansion will likely moderate.
7 Jun 2021 | BOCOM International: Hao Hong, CFA
Future of Sustainability in Investment Management: Practitioner's Brief
This practitioner's brief summarizes the CFA Institute 23 March 2021 webinar, which explored key trends in the shift to sustainability in investment management and the kind of future it envisions.
23 March 2021 | CFA Institute
Climate Change Integration in the Investment Process: Practitioner's Brief
This practitioner's brief summarizes the CFA Institute 9 April 2020 webinar, on Climate Change and ESG Disclosures, which discusses a few of the most pressing questions that financial professionals have to guide them in making effective decisions.
9 April 2020 | CFA Institute
The Electric Vehicles Race: Tesla vs. Legacy Car Companies
Tesla has been on a hot streak. Reacting to the company’s latest earnings, CEO Elon Musk said, “We’ve seen a real shift in customer perception of electric vehicles, and our demand is the best we’ve ever seen.”
4 June 2021 | GLG: Jeff Yanssens, Dr. Arnold Lamm, Dr. Claudiu Bucur
About the Author(s)
Director: Scott Lee
Content manager, Editor: Piotr Zembrowski, CFA
Coordinator: Natalie Yiu