Most Read on ARX
(November 2020 - January 2021)
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.
WEBINAR: The Rise of Decentralized Finance: Disruption or Opportunity?
Decentralized finance (DeFi) – financial products and services based on the blockchain technology – has seen a surge of interest and new developments in 2020. New applications in areas such as lending, insurance, derivatives, and exchanges, expand our understanding of what services DeFi can support. Experts from BCG Platinion and Crypto.com discuss trends, challenges, and opportunities in decentralized finance.
8 December 2020 | CFA Institute, BCG Platinion, Crypto.com | Video: 1 hr 14 min.
Why the US Dollar is Losing Trust
We look at the US dollar as a store of value, a settlement currency, its holdings in strategic portfolios, and the US policy decision-making. We find that it has been losing trust within the global financial system it dominates.
8 January 2021 | Thomas Kuhn, CFA
WEBINAR: Practices and Opportunities in Islamic Capital Markets
Capital market practitioners and Islamic finance experts discuss the fundamental principles of Shariah law governing capital markets, opportunities for companies to issue sukuk for funding projects, and more. Part 3 of the Islamic finance webinar series.
15 December 2020 | CFA Institute, CFA Society Indonesia, CFA Society Malaysia, CFA Society Pakistan | Video: 1 hr 32 min.
2021 ESG Trends to Watch
Climate, ESG bubbles, disclosure, social inequality, biodiversity — the topics don’t get much bigger or more systemic. Here’s our analysis of the five ESG trends that will matter most to companies and their investors in 2021.
7 December 2020 | MSCI Inc: Linda-Eling Lee, Meggin Thwing Eastman, Arne Philipp Klug
WEBINAR: The Impact of Covid-19 on Pensions
Industry experts discuss the changes to the 2020 Mercer CFA Institute Global Pensions Index and the diverse efforts by governments across the world to support their communities’ health and finances.
19 January 2021 | CFA Institute | Video: 1 hr 7 min.
Is Carbon Risk Priced in the Cross Section of Corporate Bond Returns?
We study the pricing of a firm's carbon risk in the cross-section of corporate bond returns. Contrary to the "carbon risk premium" hypothesis, we find bonds of firms with higher carbon emissions earn significantly lower returns.
12 October 2020 | Tinghua Duan, Frank Weikai Li, Quan Wen
Does ESG Affect Fundamentals?
ESG investing market has shown significant growth over the past decade, and it continues to grow rapidly. It has been proved that systematic analysis of ESG incidents in addition to using traditional ESG scores improves portfolio's returns.
11 December 2020 | Who's Good: Maxim Nam
Blended Finance: Catalysing Bankable Nature Solutions
Bankable Nature Solutions aim to reduce negative pressure on ecosystems, drive sustainability, and generate positive returns. Through blended finance, they create an environment for private investors to adopt a financially self-sustaining approach.
11 December 2020 | Thiaga Nadeson, Adam Ng, Katherine Lim, Siti Rizkiah, Norizan Mohd Mazlan, Sharon Lo, and Belinda Lip
Indexing Risk Parity Strategies
The S&P Risk Parity Index Series provides a transparent, rules-based benchmark for equal-risk-weighted parity strategies. It uses futures to represent multiple asset classes and the risk/return characteristics of funds in the risk parity space.
14 October 2020 | S&P Dow Jones Indices: Berlinda Liu, Tianyin Cheng, Phil Brzenk
Effective Scoring to Capture Quality and Value in China
We evaluate two methods used to normalize and combine the financial ratios—z-scores and SNDZ-scores—on how they resulted in different portfolio characteristics for quality and value in the China A market from 2006 through 2019.
19 November 2020 | S&P Dow Jones Indices: Priscilla Luk, Liyu Zeng
ASIFMA IBOR Transition Readiness Survey Results and Action Plan
In August of 2020, ASIFMA conducted a regional survey among its members to identify key issues that require attention before end-2021. In general, four main themes emerged from the survey results with regard to transition away from LIBOR.
7 January 2021 | ASIFMA
WEBINAR: The Battle for Business Ethics
To celebrate the Global Ethics Day 2020, ACCA and CFA Institute collaborated for the first time to launch an Ethics Essay Competition for our members and student population. The competition endeavored to promote ethics and integrity in finance and investment management.
3 December 2020 | CFA Institute, ACCA | Video: 1 hr
Korean Listed Companies 2019 ESG Incident Report
This report is based on Who’s Good ESG Incident Analysis, powered by artificial intelligence algorithms and news data from 90+ local and national news media providers in Korea. It provides an overview of the corporate ESG incidents in 2019 for Korean listed companies.
11 December 2020 | Who's Good: Duk Chan Yoon, Maxim Nam, Vasundhara Dehiya, Soo Young Kim, Ju Yeon Lee, Emily Kim
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.
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
Outlook 2021: Value Strikes Back
As several indicators indicate continuing recovery in China’s market, value sectors – the traditional and cyclical sectors with low valuation – are outperforming. Financials, industrials, materials, energy and consumer discretionary will benefit.
20 November 2020 | BOCOM International: Hao Hong, CFA
Climate Finance Markets and the Real Economy: Sizing the Global Need and Defining the Market Structure to Mobilize Capital
The report calls for coordinated and concerted action by the public, social, and private sectors to significantly scale the Climate Finance Market Structure (CFMS) over the next three decades.
7 December 2020 | GFMA, BCG
VIDEO: Understanding the Market Impact of the U.S. Election
Sam Stovall shares his post-election outlook for global equities, walking us through what history has to say about which sectors and markets could benefit most from an evolving political landscape. (Video: 24 min.)
30 November 2020 | S&P Dow Jones Indices: Sam Stovall | Video: 24 min.
Oil Marketing Companies: An Overview
Oil has the highest share of ~33% in the global energy mix. The industry holds a strategic importance in the Pakistani economy as well as a vital position in the country's oil and gas sector, contributing ~9% to the GDP.
1 November 2020 | The Pakistan Credit Rating Agency Limited: SaniyaTauseef, Aimen Noor
The Right ETF Starts with the Right Index
There are many different passive strategies to choose from, but having so much choice for each situation can be confusing. Advisers need to understand how indexes work in order to help their clients achieve their goals.
17 November 2020 | FTSE Russell
Valuation Effect of Corporate Name Change in Chinese Technology Stocks
Each year, hundreds of firms change names in China, for legitimate reasons or as a trend-riding strategy. Do investors truly reward such corporate actions? We examine the short-term valuation effect of name changes for China technology stocks.
24 November 2020 | Li Hui, Tan Yeng May
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.
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.
About the Author(s)
Director: Scott Lee
Content manager, Editor: Piotr Zembrowski, CFA
Coordinator: Natalie Yiu