Columbia Threadneedle Investments Emerging Market Investor Sentiment Survey
|
|
- Georgia Hawkins
- 6 years ago
- Views:
Transcription
1 Columbia Threadneedle Investments Emerging Market Investor Sentiment Survey Conducted in December 2016 The content of this presentation is presented for general information purposes only. Nothing contained herein should be considered a recommendation or advice to purchase or sell any security. While the information and statistical data contained herein are based on sources believed to be reliable, we do not represent that it is accurate and it should not be relied on as such or be the basis for an investment decision. The statements and opinions expressed are those of Columbia Management Investment Advisers, LLC and are as of the date of this presentation. All information is historical and not indicative of future results, and subject to change. This presentation may include estimates, projections and other forward-looking statements. Due to numerous factors, actual events may differ substantially from those presented. Columbia Management Investment Advisers, LLC assumes no duty to update any such statements. Past performance does not guarantee future results. Information and opinions provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed. Columbia Threadneedle Investments is the global brand name of the Columbia and Threadneedle group of companies. Investment products offered through Columbia Management Investment Distributors, Inc., member FINRA. Advisory services provided by Columbia Management Investment Advisers, LLC. January 31, Exp. 2/18
2 Columbia Threadneedle Investments Emerging Market Investor Sentiment Score At the end of 2016, the Columbia Threadneedle Investments Emerging Market Investor Sentiment Score was 627, indicating investors generally have a neutral outlook towards emerging markets (EM) for the next 12 months While sentiment is slightly down (-9%) from 2Q16, it is up 27% from the end of Columbia Threadneedle Investors EM Investor Sentiment Score Trend Columbia Threadneedle Investments EM Investor Sentiment Gauge Neutral 4Q16 Score NOTE: Following 2Q16, this survey was administered biannually, rather than quarterly
3 EM Investor Sentiment Survey Summary of Results While emerging markets (EM) were up 10.8% in 2016, they underperformed the U.S. following the presidential election, which was reflected in the EM Investor Sentiment Score at the end of 2016 (slightly down from midyear) Key Findings on Emerging Market sentiment: Most respondents currently have either 1-5% (41%) or 5-10% (32%) allocation in emerging markets. 85% of respondents say their current allocation to EM is About the Same or Higher than 12 months ago; only 15% said their allocation was lower, versus 37% of respondents at the end of 2015 Positive was the most common answer (45%) for respondents outlook for EM equities over the next 12 months, up from end of 2015 when Positive was the least common answer (26%) 64% of respondents expect to maintain their EM allocation over the next 12 months and only 28% expect to increase it; this is in contrast to mid 2016, when 46% of respondents expected to increase their allocation Key Findings on Strategic Beta use: 44% of respondents do not use strategic beta funds in their portfolios, although for those who do, the primary reasons they do so is to lower overall fees (28%) and access a specific factor (26%) When evaluating a strategic beta fund, the factors most important to respondents were: Index rules underlying the strategy 60% ranked it as the first or second most important factor Absolute fund performance 49% ranked it as the first or second most important factor In comparison, tracking error and asset manager expertise were ranked as the least important factors 58% of respondents use strategic beta funds as a complement or satellite to a benchmark exposure or to an active manager Source: Bloomberg as of 12/31/2016. Emerging Market performance represented by the MSCI Emerging Markets Index and U.S. performance represented by the S&P 500 Index. From November 9, 2016 December 31, 2016, the MSCI Emerging Markets Index returned -4.13% and the S&P 500 index returned 4.98%.
4 Section I. Results by question
5 What is your current emerging market equity allocation as a % of your equity portfolio? Most respondents currently have either 1-5% (41%) or 5-10% (32%) allocation in emerging markets. Current EM Equity Allocation More than 35% Allocation, 3% 25-35% Allocation, 3% No Allocation, 7% 15-25% Allocation, 7% 10-15% Allocation, 8% 1-5% Allocation, 41% 5-10% Allocation, 32%
6 How does your current allocation compare to 12 months ago? 85% of respondents say their current allocation to EM is About the Same or Higher than 12 months ago. Only 15% said their allocation was lower, versus 37% of respondents at the end of Change in Allocation vs. 12 Months Ago Higher 16% Lower 15% About the Same 69%
7 Over the next 12 months, what is your outlook for emerging market equities? Positive was the most common answer (45%) for respondents outlook for EM equities over the next 12 months, up from end of 2015 when Positive was the least common answer (26%). Outlook for EM Equities over next 12 months Negative 20% Positive 45% Neutral 35%
8 Over the next 12 months, how do you expect your emerging market allocation to change? 64% of respondents expect to maintain their EM allocation over the next 12 months and only 28% expect to increase it This is in contrast to mid 2016, when 46% of respondents expected to increase their allocation Expected change to EM allocation over next 12 months Eliminate 3% Decrease 5% Increase 28% No Change 64%
9 What are the primary reasons you use strategic beta funds? 44% of respondents do not use strategic beta funds in their portfolios, although for those who do, the primary reasons they do so is to lower overall fees (28%) and access a specific factor (26%) What are the primary reasons you use strategic beta funds? (Select 2) 44% 28% 26% 20% 17% 12% 3% I do not use strategic beta funds in my portfolios Lower overall fees to my clients Access a specific factor (e.g., style, trend, value, etc.) Target an investment outcome (e.g., growth, income, etc.) Access a specific Differentiate my geography/sector practice/portfolios Other (please specify)
10 When you evaluate strategic beta funds, what factors are important to you? (Rank the following) When evaluating a strategic beta fund, the factors most important to respondents were: Index rules underlying the strategy 60% ranked it as the first or second most important factor Absolute fund performance 49% ranked it as the first or second most important factor In comparison, tracking error and asset manager expertise were ranked as the least important factors Rank Cost 17% 26% 33% 19% 5% Index rules underlying the strategy Tracking error to the underlying index 35% 26% 12% 12% 16% 7% 14% 20% 36% 23% Absolute fund performance 26% 23% 14% 14% 23% Asset manager expertise 11% 13% 24% 20% 31% Rank 1 represents the most important factor, while 5 is the least important.
11 How do you primarily use strategic beta funds in your portfolios? (Select one) 58% of respondents use strategic beta funds as a complement or satellite to a benchmark exposure or to an active manager How do you primarily use strategic beta funds in your portfolios? (Select one) As a core replacement to an active manager 7.3% Other (please specify) 14.5% As a core replacement to a benchmark exposure 20.0% As a complement/satel lite to a benchmark exposure 34.5% As a complement/satel lite to an active manager 23.6%
12 Demographic Questions Over 67% with >$100mm What are your assets under management? 0% 6% 5% 13% What is the type of firm where you work? 5% 10% 16% Assets under management are self-reported. 45% Independent Registered Investment Advisor (RIA) Independent Wirehouse / Broker-Dealer Pension / Endowment / Foundation / etc. ETF Strategist 45% RIAs Institutional Consultant Other (please specify) 71% with >$10mm Over $1 billion 49% Up to $100 million 33% $ $500 million million - $1 billion 12% What are your ETF assets under 6% management? Over $100 million 48% Up to $10 million 29% $10-50 million 14% $ million 9%
13 Section II. Methodology
14 Methodology Conducted December 1, 2016 January 10, 2017 Respondents: 75 asset managers and financial advisors, with over 66% managing more than $100 million in assets EM Investor Sentiment Score calculated based on the answers to question 3: Over the next 12 months, what is your outlook for emerging market equities? Negative outlook scored as 0 points Neutral outlook scored as 500 points Positive outlook scored as 1000 points
15 Disclosures MSCI Emerging Markets (EM) Index is designed to measure the equity market performance in global emerging markets. S&P 500 Index is a broad-based measure of U.S. stock market performance. Strategic Beta is a category of beta products designed to outperform a market benchmark or provide a specialized exposure. One cannot invest directly in an index. The MSCI information may only be used for your internal use, may not be reproduced or disseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an as is basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the MSCI Parties ) expressly disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages.
EGA EM Investor Sentiment Survey
EGA EM Investor Sentiment Survey Conducted in 2Q16 155 W 19th St. New York, NY 10011 +1 888 800 4347 emergingglobaladvisors.com 1 DISCLOSURES Disclosures Investors should carefully consider the investment
More informationEXPERT SERIES STRATEGIC BETA IN EMERGING MARKETS
NOVEMBER 2016 EXPERT SERIES STRATEGIC BETA IN EMERGING MARKETS Highlights There is an opportunity for investors in EM to implement a rules-based investment process that reflects the systemization of alpha
More informationSeek to Improve US Equity Exposure
Seek to Improve US Equity Exposure Seek Higher Returns by Investing Beyond Mega Caps Large US companies (ex mega caps) historically provided stronger returns than mega caps, 1 yet are under represented
More informationESG Investing: Research & Benchmarks. Thomas Kuh, PhD Executive Director and Global Head of ESG Indexes, MSCI
ESG Investing: Research & Benchmarks Thomas Kuh, PhD Executive Director and Global Head of ESG Indexes, MSCI 1 ESG RATINGS: DISTILLING THE SIGNAL FROM THE DATA DATA 1,000 ESG data points 65,000 Individual
More informationBig Currency Depreciations: What Happens Next?
JUNE 2018 INTERNATIONAL EQUITY WHITEPAPER Big Currency Depreciations: What Happens Next? Leila Heckman, Ph.D., Founder John Mullin, Ph.D., Chief Strategist For More Information (917) 386-6261 www.heckmanglobal.com
More informationBrandes Quarterly Letter: What a Difference a Year Can Make
Brandes Quarterly Letter: What a Difference a Year Can Make January 9, 2019 by Team of Brandes Investment Partners By the close of 2018, the investment climate had changed significantly from just a year
More informationSmart Beta Dashboard. Thoughts at a Glance. January By the SPDR Americas Research Team
By the SPDR Americas Research Team Thoughts at a Glance 2017 marked another year of factor performance shifts. s comeback in the US on the heels of the US election and the potential for a Trump-flation
More informationHow to Assess Real Exchange Rate Overvaluation
JANUARY 2018 INTERNATIONAL EQUITY WHITEPAPER How to Assess Real Exchange Rate Overvaluation Leila Heckman, Ph.D., Founder John Mullin, Ph.D., Chief Strategist For More Information (917) 386-6261 www.heckmanglobal.com
More informationSmart Beta Dashboard. Thoughts at a Glance. March By the SPDR Americas Research Team
By the SPDR Americas Research Team Thoughts at a Glance For the first two months of Q1, US outperformed the broader market by nearly 5%. However, as 10-year Treasury yields and inflation expectations came
More informationAGF Elements Balanced Portfolio
AGF Elements Balanced Portfolio Q1 2018 Report January 2018 AGF ASSET ALLOCATION COMMITTEE RECOMMENDATIONS AGF Elements Portfolios were rebalanced on January 12, 2018. The following diagram represents
More informationSmart Beta Dashboard. Thoughts at a Glance. June By the SPDR Americas Research Team
By the SPDR Americas Research Team Thoughts at a Glance Factor performance diverged across regions in Q2. In the US, all factors with the exception of underperformed broad US equities. As volatility in
More informationQuantitative Easing and the Dollar-Yen Carry Trade
MARCH 2018 INTERNATIONAL EQUITY WHITEPAPER Quantitative Easing and the Dollar-Yen Carry Trade Leila Heckman, Ph.D., Founder John Mullin, Ph.D., Chief Strategist For More Information (917) 386-6261 www.heckmanglobal.com
More informationMonthly 3 Month YTD 1 YR 3 YR 5 YR 7 YR
Page 1 COMPOSITE PERFORMANCE June 30, 2017 International Strategies Composite Benchmark ANNUALIZED Monthly 3 Month YTD 1 YR 3 YR 5 YR 7 YR Firm AUM (in millions): $2,086 Since Tracking Error Date Product
More informationThe Relative Strength of Industries and Countries in Emerging Markets
Global Market Report The Relative Strength of Industries and Countries in Emerging Markets A Case Study Using the Barra Emerging Markets Equity Model (EMM1) Jose Menchero and Zoltán Nagy jose.menchero@
More informationAN ALTERNATIVE PERSPECTIVE ON ALLOCATIONS TO ALTERNATIVES
AN ALTERNATIVE PERSPECTIVE ON ALLOCATIONS TO ALTERNATIVES SA REITS CONFERENCE - 2018 Gareth Allison Executive Director MSCI 2018 MSCI Inc. All rights reserved. Please refer to the disclaimer at the end
More informationGreen Diamond Reward Scores: North American Small Cap ETFs
Green Diamond Reward Scores: North American Small Cap ETFs Background: With the explosive growth of Exchange-Traded-Products (ETPs), more firms than ever use ETPs to execute their trading and investment
More informationHEALTHCARE INDEX ADVISORY GROUP
HEALTHCARE INDEX ADVISORY GROUP 2 nd March 218 218 MSCI Inc. All rights reserved. Please refer to the disclaimer at the end of this document. INDEX CONTRIBUTORS Arena Investment Management Australian Unity
More informationDow Jones Sustainability Indices Diversified June A cooperation of S&P Dow Jones Indices and RobecoSAM
Dow Jones Sustainability Indices Diversified June 2017 A cooperation of S&P Dow Jones Indices and RobecoSAM DJSI Asia Pacific Developed Diversified Select, as of June 30 th 3 25% 15% 1 5% YTD 1M 3M 6M
More informationDow Jones Sustainability Indices Diversified March A cooperation of S&P Dow Jones Indices and RobecoSAM
Dow Jones Sustainability Indices Diversified March 2017 A cooperation of S&P Dow Jones Indices and RobecoSAM DJSI Asia Pacific Developed Diversified Select, as of March 31 st 2017 (in USD) 25% 2 15% 1
More informationCONSENSUS OPERATING EARNINGS for the S&P 500, MidCap 400 and SmallCap 600 Indices, as well as the Sectors in the S&P /02/18
CONSENSUS OPERATING EARNINGS for the S&P 500, MidCap 400 and SmallCap 600 Indices, as well as the Sectors in the S&P 500. 02/02/18 Operating EPS Y/Y % chgs. S&P 500 Sector Q1 Q2 2017 Q3 Q4E Year Q1E Q2E
More informationINTRODUCING MSCI FACTOR INDEXES
INTRODUCING MSCI FACTOR INDEXES msci.com ELEMENTS OF PERFORMANCE TM Factors by MSCI Factors are the building blocks of many portfolios the elements capable of turning data points into actionable insights.
More informationDow Jones Sustainability Indices (DJSI)
Dow Jones Sustainability Indices (DJSI) December 2014 A cooperation of S&P Dow Jones Indices and RobecoSAM Index Performance DJSI World 15% 1 DJSI World Index 5% -5% -1 YTD last month last 3 last 6 last
More informationCUSTOM INDEX ON MSCI EM (EMERGING MARKETS) LOW CARBON LEADERS EX REITS 10/50 *
INDEX METHODOLOGY CUSTOM INDEX ON MSCI EM (EMERGING MARKETS) LOW CARBON LEADERS EX REITS 10/50 * *a custom index calculated by MSCI based on stock exclusion provided by the Ethical Council October 2015
More informationPioneer Real Estate Shares
Pioneer Real Estate Shares COMMENTARY Performance Analysis & Commentary September 2018 Fund Ticker Symbols: PWREX (Class A); PYREX (Class Y) us.amundipioneer.com Third Quarter Review Pioneer Real Estate
More informationMSCI Index Proposal for Gulf Countries. November 2005
MSCI Index Proposal for Gulf Countries November 2005 Introduction This document sets forth MSCI s proposal to create indices for the countries of the Gulf Cooperation Council (GCC). MSCI is considering
More informationMSCI CUSTOM RISK WEIGHTED INDEXES
INVESTOR INSIGHT MSCI RISK WEIGHTED INDEXES MSCI CUSTOM RISK WEIGHTED INDEXES An Approach to Combining Low Risk and Size Exposure Index Marketing December 2016 DECEMBER 2016 The MSCI Risk Weighted Indexes
More informationSector Investing: Essential Building Blocks for Portfolio Construction
Sector Investing: Essential Building Blocks for Portfolio Construction April 30, 2014 Brett Hammond Managing Director Head of Index Applied Research MSCI Matthew Goulet, CFA Vice President Sector Investment
More information- MSCI USA LOW SIZE INDEX - MSCI WORLD EX USA LOW
INDEX METHODOLOGY METHODOLOGY BOOK FOR: MSCI USA LOW SIZE INDEX, MSCI WORLD EX USA LOW SIZE INDEX METHODOLOGY BOOK FOR: - MSCI USA LOW SIZE INDEX - MSCI WORLD EX USA LOW SIZE INDEX September 2018 SEPTEMBER
More informationVIX to Fall; Stocks to Rise; Small to Outperform
RBC Capital Markets, LLC October 14, 2014 VIX to Fall; Stocks to Rise; Small to Outperform Market Delivers Above-Average Returns Following Volatility Spikes Investor concerns regarding global growth have
More informationMSCI REAL ESTATE INDEX - OVERSIGHT COMMITTEE
MSCI REAL ESTATE INDEX - OVERSIGHT COMMITTEE Terms of Reference October 2017 OCTOBER 2017 GENERAL MSCI uses four main committees to provide overall oversight and governance for benchmark administration
More informationIPD PAN EUROPEAN QUARTERLY TRANSACTION LINKED INDICATORS
IPD TRANSACTION LINKED INDICATORS IPD PAN EUROPEAN QUARTERLY TRANSACTION LINKED INDICATORS April 2015 APRIL 2015 CONTENTS IPD Pan European Quarterly Transaction Linked Indicators... 3 IPD Transaction Linked
More informationSector Methodology. Quality. Scale. Performance.
Sector Methodology Quality. Scale. Performance. Your Guide to CFRA Sector Methodology Quality. Scale. Performance. CFRA s Investment Policy Committee (IPC) consists of a team of five seasoned investment
More informationMSCI DIVERSIFIED MULTIPLE-FACTOR INDEXES METHODOLOGY
INDEX METHODOLOGY MSCI DIVERSIFIED MULTIPLE-FACTOR INDEXES METHODOLOGY February 2019 FEBRUARY 2019 CONTENTS 1 Introduction... 3 2 Index Construction Methodology... 4 2.1 Applicable Universe... 4 2.2 Constituent
More informationMSCI DIVERSIFIED MULTIPLE-FACTOR INDEXES METHODOLOGY
INDEX METHODOLOGY MSCI DIVERSIFIED MULTIPLE-FACTOR INDEXES METHODOLOGY June 2017 JUNE 2017 CONTENTS 1 Introduction...3 2 Index Construction Methodology...4 2.1 Applicable Universe...4 2.2 Constituent Identification...4
More informationABF Pan Asia Bond Index Fund (2821) An ETF listed on the Stock Exchange of Hong Kong
Important information: ABF Pan Asia Bond Index Fund ( PAIF ) is an exchange traded bond fund which seeks to provide investment returns that corresponds closely to the total return of the Markit iboxx ABF
More informationFactor Investing & Smart Beta
Factor Investing & Smart Beta Raina Oberoi VP, Index Applied Research MSCI 1 Outline What is Factor Investing? Minimum Volatility Index Methodology Historical Performance and Index Characteristics Risk
More informationMSCI EQUITY INDEX POLICY REGARDING UNITED STATES IRS 871(M) REGULATIONS RELATING TO THE DEFINITION OF A QUALIFIED INDEX
MSCI EQUITY INDEX POLICY REGARDING UNITED STATES IRS 871(M) REGULATIONS RELATING TO THE DEFINITION OF A QUALIFIED INDEX August 2016 BACKGROUND On September 17, 2015, the U.S. Internal Revenue Service (
More informationINDEX METHODOLOGY MSCI RETURN SPREAD INDEXES METHODOLOGY
INDEX METHODOLOGY MSCI RETURN SPREAD INDEXES METHODOLOGY September 2018 CONTENTS 1 Introduction... 3 2 Constructing the MSCI Return Spread es... 4 2.1 Applying the MSCI Short and Leveraged Daily es Methodology...
More informationInvesting in real assets
MULTI-ASSET SOLUTIONS Investing in real assets Income, diversification and inflation protection INVESTED. TOGETHER. What are real assets? A real asset is a tangible asset you can touch like a bridge, or
More informationMSCI VALUE WEIGHTED INDEXES METHODOLOGY
INDEX METHODOLOGY MSCI VALUE WEIGHTED INDEXES METHODOLOGY September 2017 SEPTEMBER 2017 CONTENTS 1 Introduction... 3 2 Index Construction Methodology... 5 2.1 Applicable Universe:... 5 2.2 Reweighting
More informationLONG SHORT STRATEGY INDEX ON MSCI JAPAN IMI CUSTOM (GROSS) 85% + CASH (JPY) 15% INDEX* METHODOLOGY
INDEX METHODOLOGY LONG SHORT STRATEGY INDEX ON MSCI JAPAN IMI CUSTOM (GROSS) 85% + CASH (JPY) 15% INDEX* METHODOLOGY * a custom index combining MSCI Japan IMI custom Liquidity and Yield Low Volatility
More information5 Reasons to Invest in Absolute Return Multi-Strategy Growth. EONIA + 500bps p.a. Jan 10. Jan 09. Jul 09. Jul 10. Apr 09. Oct 09. Apr 10.
5 Reasons to Invest in Absolute Return Multi-Strategy Growth FOCUS 5Reasons 1. Targeting equity-like returns over the medium term 2. Seeks lower volatility than global equities 3. Pursues alternative sources
More informationMSCI DIVERSIFIED MULTI-FACTOR INDEXES METHODOLOGY
INDEX METHODOLOGY MSCI DIVERSIFIED MULTI-FACTOR INDEXES METHODOLOGY April 2015 APRIL 2015 CONTENTS 1 Introduction... 3 2 Index Construction Methodology... 4 2.1 Applicable Universe... 4 2.2 Constituent
More informationMSCI ALL PORTUGAL PLUS 25/50 INDEX
INDEX METHODOLOGY MSCI ALL PORTUGAL PLUS 25/50 INDEX December 2016 DECEMBER 2016 CONTENTS 1 Introduction... 3 2 Constructing and Maintaining the MSCI All Portugal Plus 25/50 Index... 4 MSCI.COM PAGE 2
More informationMETHODOLOGY BOOK FOR: - OFI REVENUE WEIGHTED GLOBAL INDEX - OFI REVENUE WEIGHTED INTERNATIONAL INDEX - OFI REVENUE WEIGHTED EMERGING MARKETS INDEX
INDEX METHODOLOGY METHODOLOGY BOOK FOR: - OFI REVENUE WEIGHTED GLOBAL INDEX - OFI REVENUE WEIGHTED INTERNATIONAL INDEX - OFI REVENUE WEIGHTED EMERGING MARKETS INDEX August 2017 CONTENTS 1 Introduction...
More informationDow Jones Sustainability Indices June A cooperation of S&P Dow Jones Indices and RobecoSAM
Dow Jones Sustainability Indices June 2017 A cooperation of S&P Dow Jones Indices and RobecoSAM DJSI Asia Pacific, as of June 30 th 2017 (in USD) 25% 2 15% 1 5% YTD 1M 3M 6M 1Y 2Y 3Y 5Y DJSI Asia Pacific
More informationMSCI CARBON FOOTPRINT INDEX RATIOS METHODOLOGY
MSCI CARBON FOOTPRINT INDEX RATIOS METHODOLOGY MSCI Methodology for Carbon Footprint Index Ratios January 2018 JANUARY 2018 CONTENTS INTRODUCTION..3 1 DEFINITION AND CALCULATION METHODOLOGY... 3 1.1 SECURITY
More information5 Reasons to Invest! » Pioneer Funds Multi-Strategy Growth. Pioneer Funds Absolute Return Multi-Strategy
1 5 Reasons to Invest! Pioneer Funds Absolute Return Multi-Strategy» Pioneer Funds Multi-Strategy Growth 2 5 Reasons to Invest» Pioneer Funds Absolute Return Multi-Strategy» Pioneer Funds Multi-Strategy
More informationHSBC Global Investment Funds - BRIC Equity
HSBC Global Investment Funds - BRIC Equity S Share Class (Active - Closed to New Investors) 31 Jan 2019 31/01/2019 Fund Objective and Strategy Investment Objective The Fund aims to provide long-term total
More informationHSBC Global Investment Funds - Turkey Equity
HSBC Global Investment Funds - Turkey Equity S Share Class 31 Jul 2018 31/07/2018 Fund Objective and Strategy Investment Objective The Fund seeks long-term returns from capital growth and income by investing
More informationMSCI CANADA HIGH DIVIDEND YIELD 10% SECURITY CAPPED INDEX METHODOLOGY
INDEX METHODOLOGY MSCI CANADA HIGH DIVIDEND YIELD 10% SECURITY CAPPED INDEX METHODOLOGY Rahman, Atiqur May 2017 CONTENTS 1 Introduction... 3 2 Constructing and Maintaining the MSCI Canada High Dividend
More informationBETA ADVANTAGE SUSTAINABLE GLOBAL EQUITY INCOME 200 INDEX
INDEX METHODOLOGY BETA ADVANTAGE SUSTAINABLE GLOBAL EQUITY INCOME 200 INDEX Rahman, Atiqur June 2017 JUNE 2017 CONTENTS 1 Introduction... 3 2 Index Construction Methodology... 4 2.1 Defining the Eligibile
More informationMSCI ALL PAKISTAN SELECT 25/50 INDEX METHODOLOGY
INDEX METHODOLOGY MSCI ALL PAKISTAN SELECT 25/50 INDEX METHODOLOGY April 2015 APRIL 2015 CONTENTS 1 Introduction... 3 2 Constructing the MSCI All Pakistan Select 25/50 Index... 4 2.1 Applying Liquidity
More information6,606,978, % 6,606,978, % 6,606,978, % % NAV % (4) Equity Derivatives Warrants, Rights & Subscriptions
Pershing Square Holdings, Ltd. (the "Company") ** - Includes C Stratum Investor Reporting as of 31-Jan-2015 Confirmations & Qualifications Stratum Ref No : F000001258:31JAN2015:10 Morgan Stanley Fund Services
More informationHSBC Global Investment Funds - Turkey Equity
HSBC Global Investment Funds - Turkey Equity SG Share Class 31 Jan 2018 31/01/2018 Fund Objective and Strategy The Fund seeks long-term returns from capital growth and income by investing primarily in
More informationPersistence of Australian Active Funds
RESEARCH Active Versus Passive CONTRIBUTOR Priscilla Luk Senior Director Global Research & Design priscilla.luk@spglobal.com Persistence of Australian Active Funds EXECUTIVE SUMMARY While comparing active
More informationTEMPORARY TREATMENT OF UNEQUAL VOTING STRUCTURES IN THE MSCI EQUITY INDEXES
TEMPORARY TREATMENT OF UNEQUAL VOTING STRUCTURES IN THE MSCI EQUITY INDEXES January 2018 2017 MSCI Inc. All rights reserved. Please refer to the disclaimer at the end of this document. SUMMARY As announced
More informationMSCI REAL ESTATE INDEX RISK AND REGULATORY COMMITTEE
MSCI REAL ESTATE INDEX RISK AND REGULATORY COMMITTEE Terms of Reference October 2017 OCTOBER 2017 GENERAL MSCI uses four main committees to provide overall oversight and governance for benchmark administration
More informationHARNESSING THE POWER OF FACTOR MODELS
HARNESSING THE POWER OF FACTOR MODELS Enabling an Integrated View of Risk and Return Jean-Maurice Ladure, CFA Head of Equity Applied Research in EMEA, MSCI October 2017 2015 MSCI Inc. All rights reserved.
More informationOPPORTUNITIES AND RISKS
2016 ESG TRENDS TO WATCH OPPORTUNITIES AND RISKS Linda-Eling Lee, Global Head of ESG Research 2016 ESG TRENDS TO WATCH OPPORTUNITIES AND RISKS Environmental, social and governance concerns may play a growing
More informationMSCI EMERGING + FRONTIER MARKETS WORKFORCE INDEX METHODOLOGY
INDEX METHODOLOGY MSCI EMERGING + FRONTIER MARKETS WORKFORCE INDEX METHODOLOGY September 2017 CONTENTS 1 Introduction... 3 2 Constructing MSCI Emerging + Frontier Markets Workforce Index... 4 2.1 Country
More informationMSCI AUSTRALIA SELECT HIGH DIVIDEND YIELD INDEX
INDEX METHODOLOGY MSCI AUSTRALIA SELECT HIGH DIVIDEND YIELD INDEX September 2017 SEPTEMBER 2017 CONTENTS 1 Introduction... 3 2 Constructing the MSCI Australia Select High Dividend Yield Index... 4 3 Maintaining
More informationMSCI CANADA CUSTOM CAPPED INDEX METHODOLOGY
INDEX METHODOLOGY MSCI CANADA CUSTOM CAPPED INDEX METHODOLOGY Rahman, Atiqur August 2017 AUGUST 2017 CONTENTS 1 Introduction... 3 2 Index Construction and Maintenance... 4 2017 MSCI Inc. All rights reserved.
More informationMETHODOLOGY BOOK FOR: - MSCI USA SELECT QUALITY YIELD INDEX - MSCI EMERGING MARKETS SELECT QUALITY YIELD INDEX - MSCI UNITED KINGDOM
INDEX METHODOLOGY METHODOLOGY BOOK FOR: - MSCI USA SELECT QUALITY YIELD INDEX - MSCI EMERGING MARKETS SELECT QUALITY YIELD INDEX - MSCI UNITED KINGDOM SELECT QUALITY YIELD INDEX - MSCI EUROPE EX UK SELECT
More informationIPD AUSTRALIA HEALTHCARE INDEX
IPD AUSTRALIA HEALTHCARE INDEX Q4 2015 Results Index Sponsor 2016 MSCI Inc. All rights reserved. Please refer to the disclaimer at the end of this document. INDEX CONTRIBUTORS Australian Unity Generation
More informationMSCI ALL COLOMBIA LOCAL LISTED RISK WEIGHTED INDEX METHODOLOGY
INDEX METHODOLOGY MSCI ALL COLOMBIA LOCAL LISTED RISK WEIGHTED INDEX METHODOLOGY March 2018 MARCH 2018 CONTENTS 1 Introduction... 3 2 Constructing the MSCI All Colombia Local Listed Risk Weighted Index...
More informationMSCI EUROPE ESG LEADERS SELECT TOP 50 DIVIDEND INDEX METHODOLOGY
MSCI EUROPE ESG LEADERS SELECT TOP 50 DIVIDEND INDEX METHODOLOGY September 2017 MSCI.COM PAGE 1 OF 9 CONTENTS 1 Introduction... 3 2 Constructing the MSCI Europe ESG Leaders Select Top 50 Dividend Index...
More informationMSCI SIZE TILT INDEXES METHODOLOGY
INDEX METHODOLOGY MSCI SIZE TILT INDEXES METHODOLOGY November 2014 NOVEMBER 2014 CONTENTS 1 Introduction... 3 2 Index Construction Methodology... 4 2.1 Applicable Universe... 4 2.2 Weighting Scheme...
More informationMSCI EMERGING MARKETS HORIZON INDEX METHODOLOGY
INDEX METHODOLOGY MSCI EMERGING MARKETS HORIZON INDEX METHODOLOGY July 2014 JULY 2014 CONTENTS 1 Introduction... 3 2 Constructing MSCI Emerging Markets Horizon Index... 4 2.1 Calculating Weights for Each
More informationOFI REVENUE WEIGHTED GLOBAL ESG INDEX METHODOLOGY. May 2018
OFI REVENUE WEIGHTED GLOBAL ESG INDEX METHODOLOGY May 2018 MAY 2018 CONTENTS 1 Introduction... 3 2 Index Construction Methodology... 4 2.1 Defining the Eligible Universe... 4 2.2 Security Selection...
More informationMSCI CHINA A CUSTOM QUALITY VALUE 100 INDEX METHODOLOGY
MSCI CHINA A CUSTOM QUALITY VALUE 100 INDEX METHODOLOGY June 2018 MSCI.COM PAGE 1 OF 13 CONTENTS 1 Introduction... 3 2 Constructing the MSCI China A Custom Quality Value 100 Index. 4 2.1 Applying the Volatility
More informationCONSULTATION TO ADDRESS CONTINUOUS LISTING STANDARDS FOR US LISTED EXCHANGE TRADED PRODUCTS
CONSULTATION TO ADDRESS CONTINUOUS LISTING STANDARDS FOR US LISTED EXCHANGE TRADED PRODUCTS July 217 217 MSCI Inc. All rights reserved. SUMMARY AND BACKGROUND Until now, US-listed exchange traded products
More informationMSCI MALAYSIA IMI ISLAMIC HIGH DIVIDEND YIELD 10/40
INDEX METHODOLOGY MSCI MALAYSIA IMI ISLAMIC HIGH DIVIDEND YIELD 10/40 INDEX METHODOLOGY [Szerző] June 2017 JUNE 2017 CONTENTS 1 Introduction... 3 2 Constructing the MSCI Malaysia IMI Islamic High Dividend
More informationCONSTRUCTING AND ANALYSING MULTI-ASSET CLASS PORTFOLIOS
CONSTRUCTING AND ANALYSING MULTI-ASSET CLASS PORTFOLIOS Yana Vardarska, Vice President, MSCI Sam Rubandhas, Executive Director, MSCI #MSCIconf AGENDA Overview of the wealth management Investment problem
More informationMSCI Prime Value Indexes Methodology
Contents 1 Introduction... 3 2 Index Construction Methodology... 4 Section 2.1: Applicable Universe... 4 Section 2.2: Quality Screening... 4 Section 2.3: Determination of the Value Score... 4 Section 2.4:
More informationMSCI BUYBACK YIELD INDEXES METHODOLOGY
INDEX METHODOLOGY MSCI BUYBACK YIELD INDEXES METHODOLOGY Mrig, Lokesh June 2017 JUNE 2017 CONTENTS 1 Introduction...3 2 Index Construction Methodology...4 2.1 Applicable Universe...4 2.2 Determining the
More informationMSCI GLOBAL EX FOSSIL FUEL INDEXES METHODOLOGY
INDEX METHODOLOGY MSCI GLOBAL EX FOSSIL FUEL INDEXES METHODOLOGY May 2017 MAY 2017 CONTENTS 1 Introduction...3 2 Screening Criteria...4 3 Constructing the MSCI Global ex Fossil Fuels Indexes...5 3.1 Underlying
More informationGENERAL GENERAL Q&A. Potential impact on the MSCI Equity Indexes of the United Kingdom s exit from the European Union ( Brexit ) January 23, 2019
GENERAL Q&A Potential impact on the MSCI Equity Indexes of the United Kingdom s exit from the European Union ( Brexit ) January 23, 2019 JANUARY 2019 CONTENTS Introduction... 3 Potential impact of Brexit
More informationLenwood Volatility Control Index Factsheet Date: Dec 30,2016
Lenwood Volatility Control Index Factsheet Date: Dec 30,2016 Index Objective The Index targets enhanced performance versus traditional benchmark portfolios by dynamically adjusting components based on
More informationBETA ADVANTAGE SUSTAINABLE INTERNATIONAL EQUITY INCOME 100 INDEX
INDEX METHODOLOGY BETA ADVANTAGE SUSTAINABLE INTERNATIONAL EQUITY INCOME 100 INDEX June JUNE CONTENTS 1 Introduction... 3 2 Index Construction Methodology... 4 2.1 Defining the Eligible Universe... 4 2.2
More informationMSCI Diversified Multi-Factor Indexes Methodology
MSCI es Methodology February 2015 MSCI es Table of Contents 1. Introduction... 3 2. Index Construction Methodology... 4 Section 2.1: Applicable Universe...4 Section 2.2: Constituent Identification...4
More informationMSCI GLOBAL EX CONTROVERSIAL WEAPONS INDEXES METHODOLOGY
INDEX METHODOLOGY MSCI GLOBAL EX CONTROVERSIAL WEAPONS INDEXES METHODOLOGY September 2017 SEPTEMBER 2017 CONTENTS 1 Introduction... 3 2 Screening Criteria... 4 3 Constructing the MSCI Global ex Controversial
More informationTodd International Intrinsic Value Review
January 18, 2019 Intrinsic Value Team Todd Asset Management Todd International Intrinsic Value Review 4Q 2018 1 Year 3 Year* 5 Year* 7 Year* 10 Year* International Intrinsic Value (Gross) -16.4% -17.7%
More informationHSBC Global Investment Funds - Chinese Equity
HSBC Global Investment Funds - Chinese Equity S Share Class 31 Jan 2019 31/01/2019 Fund Objective and Strategy Investment Objective The Fund seeks long-term capital growth by investing in a portfolio of
More informationRESEARCH Cap & Discount Rate Report
RESEARCH Cap & Discount Rate Report Key Research Findings The latest SAPOA Cap & Discount Rate Survey indicates that for the six months to May 2017, the All Property discount rate strengthened slightly
More informationS&P ESG Indices December A cooperation of S&P Dow Jones Indices and RobecoSAM
S&P ESG Indices December 2016 A cooperation of S&P Dow Jones Indices and RobecoSAM S&P 500 ESG, as of December 31 st 2016 (in USD) 2 15% 1 5% YTD 1M 3M 6M 1Y 2Y 3Y 5Y S&P 500 ESG S&P 500 Index TR Last
More informationMSCI AGEING SOCIETY OPPORTUNTIES INDEX METHODOLOGY
INDEX METHODOLOGY MSCI AGEING SOCIETY OPPORTUNTIES INDEX METHODOLOGY Agrawal, Akhilesh October 2018 OCTOBER 2018 CONTENTS 1 Introduction... 3 2 Constructing the Index... 4 2.1 The set of relevant words
More informationMSCI RESPONSE TO SEBI DISCUSSION PAPER ON DRAFT CODE OF CONDUCT FOR INDEX PROVIDERS
DOCUMENT TYPE GOES HERE MSCI RESPONSE TO SEBI DISCUSSION PAPER ON DRAFT CODE OF CONDUCT FOR INDEX PROVIDERS MSCI June 2017 JUNE 2017 MSCI appreciates the opportunity to respond to SEBI s Discussion Paper
More informationBETA ADVANTAGE SUSTAINABLE GLOBAL EQUITY INCOME 200 INDEX
INDEX METHODOLOGY BETA ADVANTAGE SUSTAINABLE GLOBAL EQUITY INCOME 200 INDEX August 2016 AUGUST 2016 CONTENTS 1 Introduction...3 2 Index Construction Methodology...4 2.1 Defining the Eligibile Universe...4
More informationMSCI CANADA HIGH DIVIDEND YIELD 10% SECURITY CAPPED INDEX METHODOLOGY
INDEX METHODOLOGY MSCI CANADA HIGH DIVIDEND YIELD 10% SECURITY CAPPED INDEX METHODOLOGY Rahman, Atiqur November 2017 CONTENTS 1 Introduction... 3 2 Constructing and Maintaining the MSCI Canada High Dividend
More informationMSCI RUSSIA CAPPED INDEX
INDEX METHODOLOGY MSCI RUSSIA CAPPED INDEX September 2017 SEPTEMBER 2017 CONTENTS 1 Introduction... 3 2 Constructing the MSCI Russia Capped Index... 4 3 Maintaining the MSCI Russia Capped Index... 5 3.1
More informationHSBC Global Investment Funds - Chinese Equity
HSBC Global Investment Funds - Chinese Equity S Share Class 31 Aug 2018 31/08/2018 Fund Objective and Strategy Investment Objective The Fund seeks long-term capital growth by investing in a portfolio of
More informationReport on Equity Portfolio Carbon Footprint
Report on Equity Portfolio HSBC Global Asset Management 19 th April 2017 This presentation is intended exclusively towards qualified investors in the meaning of Art. 10 para 3, 3bis and 3ter of the Federal
More informationMSCI EUROPE ENERGY 35/20 CAPPED INDEX METHODOLOGY
INDEX METHODOLOGY MSCI EUROPE ENERGY 35/20 CAPPED INDEX METHODOLOGY March 2016 MARCH 2016 CONTENTS 1 Introduction... 3 2 Constructing the MSCI Europe Energy 35/20 Capped Index... 4 3 Maintaining the MSCI
More informationHSBC Global Investment Funds - Turkey Equity
HSBC Global Investment Funds - Turkey Equity S Share Class 31 Jan 2019 31/01/2019 Fund Objective and Strategy Investment Objective The Fund seeks long-term returns from capital growth and income by investing
More informationMSCI MARKET NEUTRAL BARRA FACTOR INDEXES METHODOLOGY
INDEX METHODOLOGY MSCI MARKET NEUTRAL BARRA FACTOR INDEXES METHODOLOGY September SEPTEMBER CONTENTS 1 Introduction... 3 2 Main Characteristics of MSCI Market Neutral Barra Factor Indexes... 4 3 Constructing
More informationINDEX METHODOLOGY METHODOLOGY BOOK FOR: - MSCI EURO SELECT DIVIDEND INDEX 10% RISK CONTROL DECREMENT INDEX
INDEX METHODOLOGY METHODOLOGY BOOK FOR: - MSCI EURO SELECT DIVIDEND INDEX - MSCI EURO SELECT DIVIDEND 10% RISK CONTROL DECREMENT INDEX November 2017 CONTENTS 1 Introduction... 3 2 Constructing the Indexes...
More informationMSCI INDEX - OVERSIGHT COMMITTEE
MSCI INDEX - OVERSIGHT COMMITTEE Terms of Reference October 2017 OCTOBER 2017 GENERAL MSCI uses four main committees to provide overall oversight and governance for benchmark administration for MSCI indexes
More informationCONTENTS. 1 Introduction Constructing the MSCI ESG Leaders Low Carbon ex Tobacco Involvement 5% Indexes... 4
INDEX METHODOLOGY METHODOLOGY BOOK FOR: - MSCI WORLD ESG LEADERS LOW CARBON EX TOBACCO INVOLVEMENT 5% INDEX - MSCI USA ESG LEADERS LOW CARBON EX TOBACCO INVOLVEMENT 5% INDEX - MSCI EUROPE ESG LEADERS LOW
More informationMSCI ALL COLOMBIA LOCAL LISTED RISK WEIGHTED INDEX METHODOLOGY
INDEX METHODOLOGY MSCI ALL COLOMBIA LOCAL LISTED RISK WEIGHTED INDEX METHODOLOGY January 2016 CONTENTS 1 Introduction... 3 2 Constructing the MSCI All Colombia Local Listed Risk Weighted Index... 4 2.1
More information