ARX Series
Most Read on ARX
(October - December 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 main menu.
SPACs in Asia Pacific
As special purpose acquisition companies (SPACs) become a popular fundraising vehicle in the United States, financial regulators in Asia Pacific explore them as means to add depth and diversity in their markets. CFA Institute held a series of roundtables in the region, and submitted two consultation responses on this topic in 2021.
2021 | CFA Institute
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: 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.
WEBINAR: Future of Sustainability in Investment Management - War for ESG Talents?
In late 2020, CFA Institute published a report titled “Future of Sustainability in Investment Management” in which we explored the influences and drivers fuelling the sustainability trend and set out enablers and actions for investment firms, including the need to better integrate sustainability data and to develop sustainability expertise to meet client expectations with innovative products. Rhodri Preece, CFA, senior head of industry research at CFA Institute, shares key highlights and takeaways from the study.
23 March 2021 | CFA Institute, Hong Kong Green Finance Association | Video: 61 min.
WEBINAR SERIES: The Emerging Asia Pacific Capital Markets - Challenges and Opportunities
Emerging and frontier financial markets in the Asia-Pacific region have experienced significant changes in recent years in areas affecting regulation, market participants, and products. CFA Institute Research Foundation published a collection of markets analysis briefs "The Emerging Asia Pacific Capital Markets: Challenges and Opportunities", covering 11 markets: Bangladesh, Cambodia, India, Indonesia, Malaysia, Mongolia, Pakistan, the Philippines, Sri Lanka, Thailand, and Vietnam. These four webinars present the research to prospective investors interested in learning about regulatory developments, market structure, and financial history in the region.
25 October 2021 | CFA Institute
WEBINAR: Asian Stock Markets — From the Ground Up
Herald van der Linde, CFA, head of equity strategy for Asia Pacific at HSBC presents key findings from his new book, "Asia’s Stock Markets from the Ground Up." The webinar offers a simple but thorough introduction to these fascinating stock markets, examining peaks, troughs, market calamities, juicy scandals, and personal anecdotes from the author's three decades of studying these markets.
25 November 2021 | CFA Institute | Video: 1 hr 12 min.
WEBINAR: CFA Institute Certificate in ESG Investing
This info session highlights the latest trends and opportunities in the ESG investment space and demonstrates how the Certificate in ESG Investing provides investment professionals with the expertise and insights needed to integrate ESG factors into investment decisions, preparing you with skills to excel now and in the future.
7 December 2021 | CFA Institute | Video: 59 min.
WEBINAR: Venture Capital 2022: Brighter Skies or Troubled Waters Ahead?
Venture capital is rapidly evolving, undergoing structural changes, facing new challenges, and addressing new client segments. There are also new models and methods for allocators to access VC, which has traditionally been a closed, opaque and capacity-constrained asset class.
30 November 2021 | CFA Institute | Video: 1 hr 3 min.
Sequential Learning, Asset Allocation, and Bitcoin Returns
A decrease in investors' estimate of the correlation between Bitcoin and US stock markets predicts higher Bitcoin returns the next day. We explain this in light of asset allocation practices and investors' learning on time-varying correlation.
This paper was submitted for the Asia Pacific Research Exchange Award at the 2021 New Zealand Finance Meeting.
23 November 2021 | James Yae, George Zhe Tian
WEBINAR: Introducing the First Global Voluntary ESG Disclosure Standards
The purpose of the CFA Institute Global ESG Disclosure Standards for Investment Products is to facilitate fair representation and full disclosure of an investment product’s consideration of ESG issues in its objectives, investment process, or stewardship activities. When investment products’ ESG approaches are fairly represented and fully disclosed, investors, consultants, advisors, and distributors can better understand, evaluate, and compare investment products, and the potential for greenwashing diminishes.
15 December 2021 | CFA Institute | Video: 62 min.
WEBINAR: AI and Big Data Adoption in APAC Financial Services and Strategies for Talent Development
Financial institutions across major financial centres in APAC are increasingly recognizing the benefits of artificial intelligence (AI) and big data. How should financial institutions and finance professionals prepare themselves for what is likely the most significant change they will experience in their career? What is the secret sauce to successfully adopting AI and big data in finance? What type of talents are most in demand?
14 December 2021 | CFA Institute | Video: 60 min.
Respecting Three Centuries of Correlation
In this latest Strategist's Corner, Rob Almeida analyzes the historical relationship between stocks and bonds, and why it is crucial in diversification and asset allocation decisions.
24 November 2021 | MFS Investment Management
Sector Analysis - A Framework for Investors
CFA Institute and ACCA present a series of articles detailing a framework for analysis of investment fundamentals of industries.
2020 | CFA Institute
WEBINAR: REIT Landscape in Singapore - Sector Analysis
The Singapore Exchange was informally crowned the APAC REIT hub more than a decade ago. How has the REIT landscape in Singapore evolved since then? Post pandemic, which subsectors within the REIT family are set to emerge strongly? How are REITs coping with the rise of ESG awareness particularly in the green building domain?
11 November 2021 | CFA Institute, CFA Society Singapore, SGX | Video: 1 hr 41 min.
Outlook 2022: “Shadow Fed” Tightening / 展望2022：夕惕若厉
Throughout the Covid-19 pandemic, China has been exporting and saving, while the West has been importing and consuming. China’s current account surplus reflects the strength of foreign demand, its growth will slow down as the world reopens.
经常账户盈余达峰将制约股指的升幅。中国的外汇存款是“影子联储”，并且正在收紧。重点关注2021年的“泰坦尼克板块”。定向宽松以防范系统风险。
15 November 2021 | Hao Hong, CFA
WEBINAR: ESG Trends in APAC Markets: Laggards vs. Leaders
Which ESG themes are driving sector improvements? Who are the laggards and leaders in the various markets and what does this rise in ESG Ratings mean to investors? In this webinar we look at positive ESG trends in the APAC region, the most improved high risk ESG sectors, and the opportunities to turn an ESG laggard into a leader
26 October 2021 | CFA Institute, MSCI | Video: 1 hr 2 min.
Limiting Risk Exposure With S&P Risk Control Indices
After the 2008 Global Financial Crisis, institutional investors have responded with aversion to volatility by implementing risk control strategies, which target a stable level of volatility in all market environments.
25 August 2021 | S&P Dow Jones Indices
WEBINAR: Ethical and Sustainable Business Models in the Banking, Insurance and REIT Industry
Capital market experts discuss whether the ethical business model still holds importance among listed companies in the banking, insurance, and REIT industries. If so, why? And how do we as investors analyze whether top management are fully committed to their ESG and CSR goals?
20 October 2021 | CFA Institute, ACCA | Video: 1 hr 33 min.
Bringing Transparency to an Emerging Asset Class: S&P Cryptocurrency Indices
Because digital assets are an emerging asset class, it is helpful to discuss what cryptocurrencies (also referred to as "coins" in this document) are, how the asset class has grown, and how they are regulated.
15 October 2021 | S&P Dow Jones Indices
WEBINAR: T-Shaped Teams - The Roadmap for AI and Big Data Adoption in Investments
Incorporating artificial intelligence and big data techniques in the investment process is critical for the success of the future investment firms and investment professionals alike. And yet, many are struggling to find out where to begin and what to do to prepare themselves for the inevitable change. We discuss how investment organizations build T-shaped teams to connect the investment and technology functions for success.
15 September 2021 | CFA Institute | Video: 1 hr 7 min.
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.
HKEX Consultation Paper on SPACs: Response by CFA Institute and CFA Society Hong Kong
CFA Institute and CFA Society Hong Kong respond to the consultation paper on special purpose acquisition companies (SPACs) issued by the Stock Exchange of Hong Kong (HKEX).
4 November 2021 | CFA Institute, CFA Society Hong Kong
Ambiguity, Investor Disagreement, and Expected Stock Returns
This study measures investor disagreement and finds that stocks scoring high outperform those scoring low. The stocks with high investor disagreement values prior to earnings announcements earn higher earnings announcement returns.
This paper has been submitted for the Asia Pacific Research Exchange Award at the 2021 New Zealand Finance Meeting.
15 September 2021 | Lawrence Hsiao
Sector Analysis: A Framework for Investors
Different industries often require very different business models; and even within the same industry, the model that does add value to the business may vary somewhat from company to company. CFA Institute presents a series of articles detailing a framework for analysis of investment fundamentals of industries.
2019 - 2021 | CFA Institute
Bitcoin: Jumps, Convenience Yields, and Option Prices
We develop a theoretical jump-diffusion model for pricing bitcoin options admitting both jumps and stochastic convenience yield and use simulations to evaluate parameter estimates.
This paper has been submitted for the Asia Pacific Research Exchange Award at the 2021 New Zealand Finance Meeting.
11 September 2021 | Jimmy E. Hilliard, Julie Thuy Dung Ngo
China Beyond Evergrande: Contagion or Containment?
Despite Evergrande's seemingly “too big to fail” scale, we expect Beijing to resolve the debt woes by prioritizing an orderly restructuring of the company, instead of offering direct support.
24 September 2021 | PineBridge Investments: Arthur Lau, Andy Suen, Fan Zhang
WEBINAR: The Emerging Asia Pacific Capital Markets - Asian Frontier Markets
CFA Institute Research Foundation presents the results of its overview of emerging markets in Asia Pacific. This webinar, the fourth in a series, covers Bangladesh, Cambodia, Mongolia, Sri Lanka, and Vietnam.
5 October 2021 | CFA Institute | Video: 1 hr 35 min.
Property Bubble, Aging Demographics, and Common Prosperity / 房地产变局，人口老龄化对于共同富裕的意义
China’s aging demographics and slowing investment suggest higher consumption ahead. High asset allocation to property at peak price portends re-allocation to other assets, such as equity. China must adapt its growth model despite near-term costs.
中国面临的真正挑战，是如何在面对短期成本的前提下调整其未来的经济增长模式。人口老龄化和投资放缓意味着未来消费将愈发重要；在房价触顶之际，高比例房地产配置预示着资产配置向诸如股票等其他资产的再调整；城镇化进程放缓意味着城乡再平衡行稳致远，最终迈向共同富裕的康庄大道。
18 October 2021 | Hao Hong, CFA, BOCOM International
WEBINAR: The Case for Asian Fixed Income - Conscious and Intelligent Investing
A panel discussion looking at current opportunities and challenges in Asian fixed income investments from a sustainability and return perspective.
14 September 2021 | CFA Institute, CFA Society Singapore | Video: 59 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
About the Author(s)
Director: Scott Lee
Content manager, Editor: Piotr Zembrowski, CFA
Coordinator: Natalie Yiu