Equities – Page 3

  • SPIVA® U.S. Scorecard
    White papers

    SPIVA® U.S. Scorecard

    2020-05-13T13:43:00Z By S&P Dow Jones Indices

    2019 was a remarkable year for equity markets in the U.S. and around the world. Boosted by an accommodative Fed policy, low unemployment, low inflation, and continued global growth, risk assets across the board did well—all of the benchmarks tracked in the SPIVA U.S. Scorecard had positive returns, with the S&P 500® Value leading the pack at 31.9%.

  • Comparing Bottom-Up versus Top-Down Multi-Factor Construction
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    Comparing Bottom-Up versus Top-Down Multi-Factor Construction

    2020-05-13T09:15:00Z By S&P Dow Jones Indices

    The S&P 500® Quality, Value & Momentum Multi-Factor Index is designed to measure the performance of stocks having the highest combination of quality, value, and momentum (QVM). It takes a “bottom-up” approach of scoring each stock on its individual factor attributes and selecting stocks that jointly score highest across all the factors [1]. In light of the recent market turbulence, let us examine the performance of this index in comparison with the alternative “top-down” approach to multi-factor portfolio construction, i.e., taking an equally weighted combination of single-factor indices, referred to as an “index of indices”. 

  • Did Globalization Kill Contagion?
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    Did Globalization Kill Contagion?

    2020-05-13T08:37:00Z By Amundi Asset Management

    Does financial globalization lead to contagion? We scrutinize linkages between international stock markets in a long historical perspective (1880-2014). Our results highlight that without globalization, contagion cannot exist. However, if cross-market correlations are very high, globalization kills contagion.

  • Factors and Factor Indices
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    Factors and Factor Indices

    2020-05-12T14:31:00Z By S&P Dow Jones Indices

    There is a subtle but important distinction between factors and factor indices.  “Factor” denotes an attribute with which long-term excess returns are thought to be associated. Fama and French, for instance, famously found that small size and cheap valuation were factors in this sense.  A number of other variables – prominently including momentum, low volatility, and quality – have likewise joined the factor pantheon.

  • Selecting survivors - an attractive entry point for US small caps
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    Selecting survivors: an attractive entry point for US small caps

    2020-05-11T14:28:00Z By Federated Hermes

    The last quarter was one of extremes and there was little – if any – discrimination between higher and lower-quality companies. Small caps were particularly affected and have declined more than larger companies, while value stocks have lost more ground to growth stocks.

  • Durability During Distress – Part 2
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    Durability During Distress – Part 2

    2020-05-11T14:22:00Z By S&P Dow Jones Indices

    Dividends play a vital role in many investors’ approach to the market, although there is more than one way to approach dividends. Some investors are most concerned with dividend yield per se, while others are more sensitive to the growth of dividends over time.  Both approaches, of course, can be readily indicized. 

  • The New Purpose of a Corporation; or, What We’ve Known All Along
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    The New Purpose of a Corporation; or, What We’ve Known All Along

    2020-05-11T09:53:00Z By S&P Dow Jones Indices

    Late last summer, nearly 200 chief executives (S&P Global’s own CEO, Doug Peterson, included) put their signatures on a new statement of the purpose of a corporation,[1] one focused not only on shareholder value, but on value for all key stakeholders. The declaration emphasizes people—employees, customers, and communities—in which employers know they must invest to ensure long-term growth and success.

  • Oil Shock Requires Deft Investing Touch
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    Oil Shock Requires Deft Investing Touch

    2020-05-11T09:52:00Z By T. Rowe Price

    An unprecedented level of demand destruction—thus far equivalent to roughly one‐third of global crude consumption—has decimated oil prices, briefly driving them into negative territory. Energy stocks have also been pummeled.

  • The New ‘Fusion’
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    The New ‘Fusion’

    2020-05-07T15:02:00Z By Neuberger Berman

    As the physical and digital worlds merge, companies, investors and society will need to adapt.

  • S&P 500 Dividend Futures - Divining Time To Recovery
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    S&P 500 Dividend Futures: Divining Time To Recovery

    2020-05-06T13:47:00Z By S&P Dow Jones Indices

    In 2019, the S&P 500® companies in aggregate paid a record $485 billion in dividends. This year, the figure could be closer to $415 billion, and it could be another seven years before they recover to 2019 levels, according to futures prices. Dividend futures, that is.

  • The Duration Risk in Equities
    White papers

    The Duration Risk in Equities

    2020-05-05T15:29:00Z By CME Group Inc.

    Since early 2017 there has been a notable gap between the expected growth in future dividends and the performance of the US equity market.  The value of the 10 S&P 500® annual dividend index futures contracts at the end of April were eqivalent to about 500 S&P 500® index points, to be paid between now and the end of 2030.

  • Impact of Dividend Announcements on S&P DJI Dividend Indices
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    Impact of Dividend Announcements on S&P DJI Dividend Indices

    2020-05-05T15:22:00Z By S&P Dow Jones Indices

    Dividend-paying companies have been in the spotlight as a direct consequence of the ongoing COVID-19 pandemic and crude oil glut crisis. A combination of strained corporate cash flows and political intervention has seen many companies cancel, cut or postpone payments globally.

  • The coronavirus crisis - hitting the reset button
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    The coronavirus crisis: hitting the reset button

    2020-05-05T14:35:00Z By Federated Hermes

    When we emerge from the coronavirus pandemic, investors are likely to find a fundamentally altered political and economic landscape. It is therefore time to push the pause button and reset our expectations for the remainder of the year.

  • Weekly Market Navigation Update
    White papers

    Weekly Market Navigation Update: Discussing the risk rally in April

    2020-05-05T14:09:00Z By FTSE Russell

    Philip Lawlor, MD, Global Markets Research examines the recovery in risk appetite, why US equities dominated global equity market returns, notable differences in sector weighted performance contributions across the regions, performance of alternative indices and more.

  • Business as Usual for the S&P Paris-Aligned Climate Indices
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    Business as Usual for the S&P Paris-Aligned Climate Indices

    2020-05-05T13:59:00Z By S&P Dow Jones Indices

    On April 20, 2020, the S&P Eurozone LargeMidCap Paris-Aligned Climate Index (S&P Eurozone PA Climate Index) was launched (see press release). This index has been designed to align with recommendations from the Task Force on Climate-related Financial Disclosures and follow the new minimum standards for EU Paris-Aligned Benchmarks proposed by the EU,[1] while remaining as close as possible to its benchmark index, the S&P Eurozone LargeMidCap.

  • US stocks retake their leadership perch in the April risk rally
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    Blog | US stocks retake their leadership perch in the April risk rally

    2020-05-05T13:58:00Z By FTSE Russell

    With their respective overweight in outperforming technology and healthcare stocks, the Russell 1000 and Russell 2000 lead the way in the global equity relief rally in April.

  • Emerging Market Green Bonds - Report 2019
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    Emerging Market Green Bonds - Report 2019

    2020-05-05T08:54:00Z By Amundi Asset Management

    Financing countries’ climate and sustainable development commitments will require global investment on an unprecedented scale. IFC estimates cumulative climate investment potential of $29.4 trillion across six key sectors in emerging market cities through 2030. These sectors include waste, renewable energy, public transportation, climate-smart water, electric vehicles, and green buildings1.

  • Ten big questions facing the post lockdown world?
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    Blog | Ten big questions facing the post lockdown world?

    2020-05-04T14:03:00Z By FTSE Russell

    As attention starts to shift towards when and how the lockdown exit will be implemented, there are a litany of important questions and themes that need to be considered in a post-lockdown world. In this blog, we pose ten questions, which are top of mind for market participants.

  • The Pandemic & The “Thucydides Trap”
    White papers

    The Pandemic & The “Thucydides Trap”

    2020-05-01T15:46:00Z By Barings (Europe)

    Tensions may not necessarily escalate after the Great Lockdown.

  • How to Invest in Equities When Guidance Disappears
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    How to Invest in Equities When Guidance Disappears

    2020-05-01T13:47:00Z By AllianceBernstein

    The COVID-19 shutdown has prompted an unprecedented number of US companies to suspend earnings guidance. Equity investors should focus fundamental research on a wider range of outcomes instead of the overly precise game of predicting short-term estimates—especially during a period of heightened uncertainty.