Market Matters: November 30, 2021
Risk assets sold off in November as pandemic-related developments introduced new uncertainties to the economic outlook.
Equities
Market Matters: October 31, 2021
Global equities delivered their highest monthly gains this year in October, driven by US equities.
US Manager Universe Statistics: Third Quarter 2021
This publication presents manager performance for 37 asset classes and substrategies, showing the median, mean, and key percentiles of return. Relevant indexes for each asset class are also included to provide market context.
Hedge Fund Update: Third Quarter 2021
Global capital markets were volatile during third quarter 2021. In September, equity markets gave back most of the gains made earlier in the quarter. Markets are reacting to concerning economic and inflation data, geopolitical risks, and potential central bank tightening. Core hedge fund strategies were mixed but relatively flat during the third quarter.
VantagePoint: China – Reassessing Risks and Opportunities
As the second largest economy in the world, China remains an important destination for global investor capital. Yet, the pace and scope of China’s regulatory crackdown are causing concern. In this edition of VantagePoint, we review the nature of regulatory developments and their impact on the investment opportunity set. We believe that dedicated, strategic allocations to Chinese assets are still warranted. Investors should carefully consider their sector exposure and evaluate managers’ capabilities in the current regulatory and geopolitical environment.
Market Matters: September 2021
Capital markets performance was mixed in third quarter, with muted gains or losses across many asset classes.
Catch My Drift? Active Managers’ Style Tends to Change Over Time
The style bias of actively managed growth and value equity portfolios is not typically static. In this paper, we highlight how the strength of active managers’ style signatures have moved between value and growth and propose a simple fundamental rationale for why this happens.
Market Matters: August 2021
Risk-on sentiment returned in August as the global economic recovery continued, albeit at a slowing pace.
Can Value Stocks Continue to Outperform the Broad Market?
Yes, we believe value stocks can resume their leadership relative to the broad market over the next six to 12 months, provided we are correct in our assessment that the economic impact of COVID-19 Delta variant will be limited in major developed markets and China.
ESG Challenges and Opportunities in Chinese Equities
Investor interest in China has grown over the years as China’s economy expanded and the market opened up to foreign capital. However, environmental, social and governance (ESG) issues remain a key concern for many investors.