Why should investors care about carbon risk? What range of products are available to mitigate carbon risks? What are the advantages of using low carbon indices? How does their performance compare to mainstream benchmarks?
Join STOXX, CDP and Southpole for a discussion on these and other relevant questions.
The 2012 results for both the IPD Global and Pan-European Annual Property Indices will be announced online during a live webinar on Monday, 15th April 2013.Read more >
FTSE asks Bryon Lake, Director at Invesco PowerShares (EMEA), to look at ETFs that track fundamental indices. Bryon looks at the differences to traditional ETF products, the types of exposures that are available, and the ways that investors are using these alternatively weighted ETFs.Read more >
S&P Dow Jones Indices has created a tax-aware indices specifically designed to incorporate franking credits and dividends. During this webinar Dr. Don Hamson discusses with Daphne van der Oord the introduction of this new indices and what it means for pension investors and clients.
The webinar will discuss:
The new S&P/ASX tax-aware indices
incorporation of franking credits for pension phase (tax-exempt) and accumulation phase superannuation.
How important are franking credits?
Comparison of US and Australian returns including franking
The webinar will be followed by a live Q&A session.
CDS indices offer a full and liquid exposure to the high yield market. They have been outperforming high yield cash bonds since 2004.Read more >
Join our free webinar to discuss:
-The current trends in the alumina market and factors driving price moves
-Metal Bulletin’s indices and how we calculate alumina prices, including the new fob Brazil adjustment
-Pricing governance, compliance and technology
Minimum Variance Indices have multiple usages for investors as part of their asset allocation:
• Indices provide a portfolio with lower volatility (i.e. risk) but with full exposure to relevant equity markets.
• Minimum Variance portfolios use less risk budget available to investors.
• Due to efficient portfolio construction no “overspending” of risk in relation to achievable return.
• Shortcomings and structural performance deficits of market cap weighted indices are mitigated through alternative weighting mechanism.
STOXX+ Minimum Variance Indices have been developed in collaboration with Axioma, a leading provider of portfolio constructions tools and risk models. Axioma provides the fundamental factor model used to calculate the rebalancing portfolios.
Multiple index versions to cater for a broader investor base
• Create a stand-alone minimum variance strategy index family (unconstrained version)
• Create a minimum variance improvement on market-cap. weighted benchmarks (regular version)
Unconstrained index version is a novelty and offers the following benefits:
• Full optimization to minimize risk
• With only very basic constraints, there is the freedom to provide increased optimality in resulting portfolio
• Resulting portfolio might have a bias towards certain properties (specific factor, geography etc.) as the aim is purely to minimize variance
• The freedom is expected to provide lower risk
MSCI invites you to attend a special webinar on ‘Strategy Indices and Their Role in Institutional Portfolio Construction.”
The event will be hosted by Dimitris Melas, MSCI Executive Director and Global Head of New Product Research, and Roger Urwin, Special Adviser to MSCI and Global Head of Investment Content at Towers Watson.
Topics for discussion include:
* Definitions of alpha are evolving as investors recognise that strategy indices can capture various systematic risk premia (alternative beta) such as value, size, low volatility or momentum. Systematic factors are increasingly considered key drivers of long-term performance.
* Institutional asset allocation may be on the verge of a shift from diversification across active managers in multiple alpha mandates towards diversification across strategy betas in multiple index mandates.
* We present a risk budgeting framework for integrating strategy indices into institutional portfolios where allocations to risk premia strategies are based on their expected risk and performance characteristics.
* Increasing adoption of risk-based asset allocation, growing acceptance of the potential impact of systematic risk factors on long-term portfolio performance and the need to capture these factors through transparent and cost effective vehicles may drive further innovation and new product development in the indexing arena.
Join our global team to discuss:
Overview of seaborne coking coal market
Chinese domestic coking coal market and its impact on seaborne market
Uses of the index for market participants
Key Topics to be Discussed:
- Dividend Investing
- Benefits of Dividends
- Where Isolated Dividends Fit in a Portfolio
- Why Dividends Now
Introduction/description of topic
What? Factor-investing, or factor-based equity allocations, are entering the mainstream of the investment conversation. But investors are faced with ‘noise’ in the smart beta arena, including uncertainty around how smart beta can solve investment problems, and the differences between ‘smart beta’ and ‘factor’ indices that have exploded onto the scene. So where do they begin?
Why? If investors have a desire to tilt portfolios towards strategies that can potentially both tolerate market volatility and generate long-term positive returns, exploring how factor-based equity allocations can help achieve these investment objectives is a good place to start.
How? Practical implementation of exposures to these factors raises a new set of questions such as how to efficiently capture the desired factor exposure(s) while being mindful of turnover and capacity, and how to maintain a well-diversified portfolio.
This Russell Indexes’ webcast seeks to guide investors through these complexities. We will illustrate how we’ve cut through the noise to focus on what our research has shown to be the most important and complementary factors for portfolio construction: low volatility, value, quality and momentum. We will also provide examples of how factor combination portfolios can align with investor beliefs, preferences, and constraints.
FTSE asks Michael John Lytle, Chief Development Officer at Source, to dive into the asset classes covered by ETFs, the different ways ETF providers can replicate an index, and how ETFs can provide access to hard to reach markets before finishing with ideas for where to start when researching ETFs.Read more >
FTSE, in association with Asian Investor and BlackRock, hosted a roundtable which featured the latest academic research and drew on the industry leaders who have pioneered popular smart beta strategies.
Chris Tse - Director, Asia, FTSE Group
Dr. Feifei Li - Director, Head of product research & management, Research Affiliates, LLC
Ben Garland - Director, BlackRock
Paul Colwell - Senior investment consultant, Chair of Asia Portfolio Construction Group, Towers Watson
The world of investment strategies is a very crowded one. Depending on investors’ risk profiles, investment horizons and preferences, a wide array of methodical approaches is employed in the constant chase for superior investment returns. In their pursuit of market-beating returns, successful investors have traditionally looked for companies which - very broadly speaking - enjoy the following characteristics:
•An established track record of superior profitability
•Strong balance sheets
The STOXX Strong Quality indices offers investors a straightforward and intuitive way to obtain exposure to high-quality companies that have been historically profitable, enjoy strong working capital positions and come with compelling valuations. Companies must pass a set of strict numerical thresholds in order to establish desired company profitability and liquidity levels, and to build an investment margin of safety:
•Liquidity screens (ADTV)
•Return on capital (ROC) screens
•Current ratio (CR) screens
In addition, the inclusion of a valuation metric as a screening tool aims to provide index access to attractively priced companies, only:
•EBITDA/EV evaluations against US AAA Bond Yield
EDHEC Risk Institute has been conducting research for several years on the possibility of reconciling financial and environmental performance. The launch of a new series of low carbon indices by ERI Scientific Beta, the smart beta index provider set up by EDHEC Risk Institute in 2012, marks the practical realisation of these research efforts and represents an important moment for responsible finance, because the results of the research undertaken will provide institutional investors with smart beta indices that can reduce the carbon footprint of their equity investments by more than 80%, while at the same time outperforming traditional market indices and being able to create more than 50% additional value in the medium term.
EDHEC Risk Institute's approach can be distinguished from numerous approaches that, over the long term, hope to outperform the stock markets through the higher returns of shares in firms that have a better carbon footprint, because these firms are supposedly less affected by the increasing cost of fossil fuels and the tons of carbon emitted, but that, in the short and medium term, aim to produce performance that is fairly similar to that of traditional stock market indices.
•Topics covered include:
•The limits of green stock picking
•How to perform financially whilst reducing the carbon footprint
•Presentation of Scientific Beta Low Carbon Multi-Beta Multi-Strategy Indices
The quest for yield comes at the price of more volatility, more downgrade risks and potentially more liquidity risks. Each of these events can translate into yield destruction that durably affects the performance of a bond portfolio, especially for constrained investors. Looking for quality, however, is expected to render those risks more remote at the price of lower yields, whereby such lower yields may not always materialise into lower performance. In his presentation, Olivier will cover the benefits of fixed income indices:
• Identifying advantages and drawbacks of bond indices versus single securities, and assessing the impact of index rules on yield capture
• Examining alternative indexing approaches that enhance such yield capture while retaining the advantages of broad benchmark indices
• Reviewing the case of yield seeking and quality oriented bond investors in the emerging markets sovereigns and IG corporate bond indices
After completing his Masters in Engineering Science at the Ecole Centrale in Paris and Financial Mathematics at the Technische Universität Berlin, Olivier Souliac worked for Deutsche Bank in London and Frankfurt in the structured funds and index funds division. The particular emphasis in this role was on the development and distribution of systematically managed funds, with a focus on fixed income solutions for institutional clients. Olivier Souliac became an active member of the Deutsche Bank Asset & Wealth Management division at the end of 2012, working in this same area of responsibility. In October 2014, Olivier joined the Strategic Beta team within Passive Asset Management and focuses on fixed income strategies.
FTSE asks Dr Peter Westaway, Head of Investment Strategy and Chief Economist of Vanguard Investments what are the challenges and opportunities in Emerging Markets and what should investors consider when assessing Emerging Market Indices and ETFs.
For more information on FTSE Emerging Markets Indices visit, http://www.ftse.com/products/indices/emerging-indices
Whether you call it 'smart beta' 'alternative beta' or 'factor-based investing', what is clear is that the emergence of indices using these principles means that investors are increasingly able to gain inexpensive and efficient access to the various benefits they can provide such as enhanced returns, risk diversification, reduced volatility etc.. The existing and well-established 'core – satellite' asset allocation approach can now be seen to be evolving into a 'core factor – satellite' one.
UBS will provide an in-depth look into this topic. They will explore different viewpoints and cover the following aspects of the subject:
· Foundations of factor investing
· Construction of investible factor indices
· Properties of factor exposures over time and throughout different business cycles
· Mutli-factor applications and factor-based asset allocation
· Factor investing with ETFs
Is it time to get serious about allocating capital to listed infrastructure investments?
Many thought leaders think the answer is yes!
You’re cordially invited to a webinar hosted by STOXX Limited and FlexShares ETFs.
The event will discuss today’s investment landscape for listed infrastructure.
We will also discuss listed infrastructure’s role in investors’ portfolios and profile infrastructure portfolio characteristics using STOXX’s leading global infrastructure index, the STOXX Global Broad Infrastructure Index.
Please join us.
With U.S. equities indices breaching new highs, some are concerned that we have come too far, too fast. But does this rally have staying power?Read more >
Union Bancaire Privée is delighted to invite you to a free online presentation followed by a Q&A session on U Access – Best Selection China A.
Why China now?:
China’s GDP is stabilizing around 6-7%
Property oversupply is less critical than feared
Could Chinese A-shares be included in the MSCI indices earlier than many think?
How is our portfolio positioned in the current market environment
Union Bancaire Privée is delighted to invite you to a free online presentation followed by a Q&A session on the Global & Absolute Return Fixed team’s favoured investment themes.
For this first webinar, we will outline our macroeconomic scenario and present our favoured investment themes:
US Dollar investment grade credit
High Yield via CDS indices
Subordinated debt and in particular Additional Tier 1
Olivier Debat | Senior Investment Specialist
In this webinar, Dr. Guido Vranken and product manager Lobke Tremmerie discuss how to implement Bulls XB algorithm, which uses RBC indices to create a weighted moving average of patient sample results, to statistically monitor hematology results. This unique algorithm, offered on Beckman Coulter hematology instruments, allows users to monitor result quality with no additional reagents, software licenses or costs. Laboratories worldwide can implement this simple, powerful tool to enhance results and improve compliance. P.A.C.E. credit is available for your participation.*
Dr. Guido Vranken has been working with customers for over 30 years across different disciplines, including protein chemistry, immunoassay and hematology. He specializes in conducting internal and external validation studies. Dr. Vranken spent three years as a lecturer on statistics at the University of Ghent.
Lobke Tremmerie earned her environmental engineering degree from the University of Ghent in 2002. She first became an electrophoresis and nephelometry sales engineer at Analis, Beckman Coulter’s exclusive Belgian distributor. Following her true passion, she transferred into the hematology division in 2004. Ms. Tremmerie currently serves as Analis’ cellular biology product marketing manager.