Extended-lister
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Prices have fallen sharply for the U.S. office market, but it would be a mistake to assume that all assets face the same challenges. We examine where buyers and sellers sit on pricing to estimate the extent of owners’ potential losses.
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BLOG
EAFE ADRs vs. Shares: How Do They Compare in Tax Efficiency?
Feb 13, 2024 Joseph WickremasingheWealth managers, interested in adding EAFE equity exposure to a U.S. client’s portfolio but concerned about the potential tax implications? We compared the tax efficiency of EAFE ADRs and shares of the underlying securities.
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BLOG
Is Greenium Evaporating in USD Corporate Bonds?
Feb 9, 2024 Jakub Malich , Matteo Petrovich , Michael Ridley , Anett HusiWith the market for sustainable (or labeled) bonds growing rapidly, we assessed their value relative to conventional bonds and found they consistently exhibited a green premium, or “greenium,” though it did diminish over time.
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A rapid rise in interest rates globally rocked the commercial-property market in 2023. We chart the impact on pricing and transaction activity, and discuss what could aid a revival in dealmaking.
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BLOG
What’s Been Driving the Carbon Footprint of the MSCI Climate Action Indexes?
Feb 8, 2024 Xinxin Wang , Guillermo Cano , Manish ShakdwipeeWe take a deep dive into the financed-emissions intensity of the MSCI Climate Action Indexes by isolating the effect of various decarbonization drivers to offer a comparative perspective against their parent indexes.
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BLOG
Pulling Back the Curtain on Emissions Reporting in Private Markets
Feb 5, 2024 Abdulla ZaidWith private investments set to play a major role in the transition toward net-zero, we assess the state of emissions reporting in private markets relative to public markets and identify the reporting disparities across asset classes, regions and sectors.
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REPORT
Reimagining Country Investing
Jan 29, 2024 Rohit Gupta , Anil Rao , Manish Shakdwipee , Hitendra D VarsaniWe introduce an integrated framework to investing in individual country and regional markets, analyzing macroeconomic risks and new growth opportunities as well as the role of sustainable investments in a globally diversified portfolio.
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BLOG
Sector Insights from India’s Equity Market
Jan 23, 2024 Dinank Chitkara , Rohit GuptaA sector-based perspective of the Indian equity market, one of the emerging beneficiaries of global power shifts, indicates the valuation premiums of most sectors are high in historical terms and relative to sectors in other emerging markets.
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BLOG
What Could Shape Sustainability and Climate Investing in 2024?
Jan 11, 2024 Meggin Thwing Eastman , Laura NishikawaMSCI’s Sustainability and Climate Trends to Watch 2024 explores key themes that could shape the world of ESG investing. Here we touch on three of them: extreme weather, the regulatory aspects of AI and investing in nature via the voluntary carbon market.
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REPORT
Free-Float Adjustment in Global Equities: A Two-Decade Review
Jan 10, 2024 Abhishek Gupta , Raman Aylur SubramanianHow does free float impact the performance and other characteristics of global equity benchmarks? We examined changes in free float over the last 20 years and found that increases have led to positive price impacts, and vice versa.
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BLOG
Inflating Returns with Subscription Lines of Credit
Jan 9, 2024 Patrick Warren , Luis O’SheaThe increased use of subscription lines of credit by general partners in some private-capital funds has lifted returns by squeezing the timeframe over which returns are calculated. We examine buyout, private-credit and real-estate funds to see where the greatest inflation lay.
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Are parts of the global supply chain more reliant on China than other parts? We explore which industries and themes may be more dependent on China from a manufacturing-ecosystem and raw-resources perspective.
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REPORT
ESG and Climate Reporting with Derivatives
Jan 5, 2024 Hitendra D Varsani , Yuliya Plyakha Ferenc , Yu Ishihara , Dinank Chitkara , Rumi MahmoodNo clear guidance presently exists on ESG and climate reporting for derivatives. Using input from market participants, regulatory guidance and a survey of existing research, we propose a framework for more transparent reporting to include derivatives.
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BLOG
Markets in Focus: Concentrating on Diversification
Jan 4, 2024 Hitendra D Varsani , Andy Sparks , Dinank ChitkaraHigher equity and bond correlation combined with increased index concentration suggest now is a good time to revisit allocations across regional, country, sector, style and thematic exposures for adequate portfolio diversification.
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BLOG
Macro Scenarios in Focus: Adapting to the New Normal
Jan 3, 2024 Will Baker , Dora Pribeli , Thomas VerbrakenMarkets seem to be priced for a soft landing, in which inflation returns closer to target levels and recession is avoided. We also consider two potential downside-risk scenarios: a hard landing and a resurgence of inflation.