All Multi-Asset articles
-
White papersAllocation Views - August 2022
We often comment in Allocation Views that it is appropriate to follow a nimble approach. This is no doubt a “timeless and universal” feature of our investment style, but it is especially pertinent today. As we always do, we look at the world through the lens of our three key themes and find reasons for caution across the board.
-
White papers
Fed prayer becomes a plea
The Franklin Templeton Investment Solutions team opines on what to expect from the Fed, gauges the probabilities of a recession and implications for asset markets.
-
White papers
Ukraine and the Path to Deglobalization
This year’s recommendation for vacation reading offers a reminder of Ukraine’s millennia-old importance for global trade, helping us understand why today’s conflict could be yet another lasting blow against globalization.
-
Video
Building resilient portfolios amid inflation
After a thirty-year hiatus, inflation has become one of the main risks for investors to manage leading to other concerns that come along with uncertain markets.
-
White papers
Tech Stock Valuations Have Become Reasonable
Although tech stocks have sold off steeply year-to-date and their valuations seem reasonable versus recent peaks, they are still not cheap when compared to the broader market. Given our continued caution toward this heavily growth-oriented sector, our Asset Allocation Committee recently added to growth stocks but remains underweight relative to value.
-
White papers
S&P QVM Top 90% Indices: An Examination of the June 2022 Rebalance
This blog is the second in the quarterly blog series we recently introduced to provide transparency into rebalance adds and drops for our S&P Quality, Value & Momentum Top 90% Multi-factor Indices (S&P QVM Top 90% Indices). The S&P QVM Top 90% Indices seek to track constituents in the top 90% of their universe, ranked by their average multi-factor score (subject to constraints) and float-market-cap weighted.
-
White papers
S&P 500 Factor Dashboard: Dive deep into factor performance in the U.S. market
The S&P 500 entered “official” bear market territory in June, finishing the month down -8.3%, and bringing its total return for the first six months of 2022 to a dismal -20.0%. Unsurprisingly, every factor index also ended the month and year-to-date periods in the red.
-
White papers
Finding Resilience amid Uncertainty: A Low Volatility High Dividend Approach for the A-Share Market
The S&P China A-Share LargeCap Low Volatility High Dividend 50 Index is designed to offer liquid and tradable exposure to dividends and low volatility, two well-known risk factors that have delivered risk premium in the China A-share market in the past.
-
White papers
Simplicity Yields Outperformance: The S&P 500 Low Volatility High Dividend Index
Last week, the S&P 500® officially entered a bear market, dropping more than 20% from its record close in January. However, not all equity indices suffered comparable losses, and one such example is the S&P 500 Low Volatility High Dividend Index. In fact, this index has outperformed by a wide margin so far in 2022.
-
White papers
Chinese Economy Nearing Inflection Point
The Chinese economy is a cautionary tale for policymakers: early and aggressive restrictions kept the virus contained and allowed the economy to recover strongly and ahead of most others. Outbreaks were contained from March 2020 until the beginning of this year, when the omicron variant sent confirmed cases soaring.
-
White papers
Winning by Not Losing: Building Portfolios for a More Challenging World
The first five months of 2022 have not been easy for investors. A powerful cocktail of difficult economic conditions and rising geopolitical concerns have made their mark: The S&P 500 Index was down by more than 12% from January 1 to May 31—its worst record over that period since 1970.
-
Video
A Closer Look at Indexing Equal Weight
How does indexing equal weight work in times of volatility and inflation? S&P DJI’s Craig Lazzara and Invesco’s Nick Kalivas discuss the key drivers behind equal-weight’s historical outperformance vs. the benchmark and what happens when equal weight is combined with factors and/or ESG.
-
White papers
Multi-Asset Allocation Views: Finding alternatives in bonds
In this Allocation Views, our Franklin Templeton Investment Solutions team remove their allocation preference for equities and discuss the attraction of government and corporate bonds.
-
Video
Why What’s Inside the Style Box Matters
Take a closer look at the style spectrum with S&P DJI’s Garrett Glawe and explore how index construction influences risk/return.
-
White papers
Looking for Income – The Case for Dividends
For decades, traditional wisdom held that U.S. investors seeking stable income should turn to bonds. However, after more than a third of a century of declining yields, the current market environment may require a less traditional approach.
-
White papers
Transition Phase
The month of May ended in such a way, that a casual observer looking at final performance numbers would find it hard to believe just how volatile and uncertain it actually was. The end-of-month recovery contrasted with an earlier correction that sent some markets to year-to-date lows (or highs).
-
Video
Defending with S&P Dividend Aristocrats
How do S&P Dividend Aristocrats respond to volatility, inflation and rising rates? S&P DJI’s Pavel Vaynshtok and ProShares’ Simeon Hyman take a closer look at how these quality dividend growers have performed in different market environments.
-
White papers
Rising Rates and Risk Premia
In a very challenging environment for long-only investors, long/short risk premia have delivered attractive returns—but not always in the way history would have led us to expect.
-
White papers
Volatility Spikes May Not Be Good Sell Signals
Recently, market volatility spiked as a result of the Russia-Ukraine conflict, elevated inflation, and tighter central bank policies. We show that, historically, it has paid investors to stay invested during these periods of market stress. Subsequent returns have tended to be above average–there is a natural tendency for markets to rebound.
-
White papers
Financial Tightening: More To Come
As inflation surged to record highs not seen in decades around the world, most central banks embarked on a phase of monetary policy normalisation.
