Market Matters: September 2021
Capital markets performance was mixed in third quarter, with muted gains or losses across many asset classes.
Equities
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.
Review of Market Performance: Fiscal Year 2021
Fiscal year 2021 saw a continuation of the strong rebound in risk assets, which had commenced in second quarter 2020. This was facilitated initially by positive news from COVID-19 vaccine trials, and then ultimately by their gradual rollout, which established a path back toward economic normality. Meanwhile, both fiscal and monetary policy remained at extremely accommodative settings.
Market Matters: July 2021
Defensive and interest rate–sensitive assets generally outperformed in July as cracks in the global economic recovery emerged, driven in part by increasing Delta variant case counts.
Hedge Fund Update: Second Quarter 2021
In this quarter’s edition, we will explore the challenges and opportunities facing investors in US-listed Chinese equity as China regulators continue to crackdown on large Chinese technology companies.
US Manager Universe Statistics: Second 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.
Is China Targeting Foreign Investors Amid the Tech Crackdown?
No. While the ongoing regulatory crackdown on technology companies in China is unsettling markets, it is not specifically targeting foreign investors.