Category Archives: MSCI

INTEGRATING FACTORS IN THE INVESTMENT PROCESS: A HOLISTIC PERSPECTIVE

A growing number of institutional investors use factor insights, but few take a holistic approach toward integrating them in all stages of the investment process. That is important, given that exposure to systematic drivers, or factors, typically accounts for a significant proportion of portfolio return.

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Webinar : MOVING THE NEEDLE: AN INVESTMENT CASE FOR STRENGTHENING CORPORATE GOVERNANCE IN INDIA, 13th April 4pm IST

MSCI ESG Research’s latest research evaluates key Corporate Governance risks in India namely, concentrated ownership, related party transactions & succession planning among MNCs, PSUs and family conglomerates. We found Indian constituents of the MSCI ACWI Index underperform relative to the MSCI ACWI Index as a whole.

MSCI ESG Governance Metrics provides institutional investors with corporate governance research and data on over 7,000 public companies worldwide, focusing on four scoring pillars, Board, Pay, Ownership and Control and Accounting.

Join the webinar to learn more about Corporate Governance Trends in India, from MSCI experts.

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Are Convertible Bonds More Like Equities?

Convertible bonds have “bonds” in their name but in reality they are complicated corporate securities with risk characteristics that often have little to do with straight bonds. Are they more like stocks or bonds? And how can investors evaluate and model them?

In today’s convertible bond market, the key driver of returns relates to the value of the underlying equity. In contrast, bond market exposure (in the form of yield curve and spread risk) has played a relatively minor role in driving convertible bond risk and return in the recent past and seems likely to play a minor role in the year ahead, based on our model. Read more

ALPHA RISK-FACTOR ALIGNMENT Oct 11 & 12, 2016 | WebEx

Many asset owners and portfolio managers develop proprietary return forecasting models, but use third-party models to measure risk. While there may be a significant overlap between the factors used in alpha and risk models, at times they may be misaligned. For managers who optimize their portfolios, the optimizer will tend to amplify the component of alpha that is not aligned with the risk model; this may lead to unintended portfolio exposures. In addition, unnecessary trading may result. Both of these unintended consequences may impair portfolio performance.

Please join us for a webinar where we will discuss a practical process for detecting and addressing misalignment in a quantitative portfolio construction setting with BARRA Portfolio Manager (BPM).

EVENT DETAILS

Length
50-60 minutes
Session 1
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Tuesday, Oct 11, 2016, 11:00 p.m. EDT
Session 2
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Wednesday, Oct 12, 2016, 9:00 a.m. HKT

AGENDA TOPICS

Demonstrate how to use BARRA Portfolio Manager (BPM) to detect and understand the nature of misalignment between alpha and risk factors
Show how the MSCI US Total Market Equity Model (USTMM) that includes Systematic Equity Strategies often used as alpha factors can improve alignment
Demonstrate implementation of misalignment remedies in BARRA Portfolio Manager (BPM), including a new Rescale Alphas approach

ANALYZING CREDIT STRATEGIES FROM A RISK AND RETURN PERSPECTIVE

Understanding the performance of credit portfolios is essential in explaining a strategy’s merits to clients and prospects. At the same time, analysts need to comprehend the portfolio’s exposure to different sources of risk, identify unintended bets and clearly communicate risk forecasts. Integrating these processes to achieve a coherent, side-by-side attribution of both risk and return creates a powerful analytical tool.

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Webinar : LIQUIDITY RISK: CHALLENGES FOR REGULATORS AND INSTITUTIONS IN FAST-EVOLVING MARKETS, June 28, 10am EDT

Regulators in the United Kingdom and the United States have sharpened their focus on the management of liquidity risk. The U.S. Securities and Exchange Commission (SEC) plans to finalize its rules by the end of 2016.  Although the official SEC comment period has ended, the industry is continuing to make recommendations for changes.

Please join us for a webinar for a discussion on the latest developments and recommendations for the proposed rules and the impact on liquidity risk management programs.

Agenda Topics:

  • How market structure reforms are rapidly changing the landscape
  • The liquidity data scarcity and how it poses challenges for both regulators and financial institutions
  • MSCI’s role is helping investors meet regulatory and internal control challenges today and prepare for what’s coming in the foreseeable future

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UNDERSTANDING AND MANAGING ACCOUNTING RISK IN INVESTMENT PORTFOLIOS, June 16, 11am ET

Headline-making accounting scandals, like those at Toshiba, Tesco, Sino-Forest and many others in recent years, can cost shareholders dearly, through stock price declines and subsequent litigation.   But the potential for harm isn’t limited to these “black swan” events.   A notable survey of nearly 400 chief financial officers found that in any given period, a remarkable 20% of companies may intentionally distort earnings, even while adhering to Generally Accepted Accounting Principles (GAAP).

Join our webinar to understand, identify and manage accounting risk in investment portfolios.
AGENDA
• Problems associated with accounting risk in investment portfolios
• Forensic accounting as an investment tool: what does the research show?
• Forensic accounting in global stock selection

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Webinar : COP21 DISSECTED: WHAT THE OUTCOMES MAY MEAN FOR INSTITUTIONAL INVESTORS, Dec 16 930am ET

Dec 16, 2015, 930am ET

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Emission reduction pledges tabled by 147 nations in advance of the COP21 talks put the world on course for a 2.7°c rise in temperature by the end of the century – not enough to prevent the severe effects of climate change impacting a growing global population expected to need 35% more food, 40% more water and 50% more energy by 2030.
The long term risks to investors have been well documented, but a recent report by the University of Cambridge indicates that investors could lose up to 45% of their global investment portfolios as a consequence of short-term shifts in climate change sentiment. Institutional investors have a pivotal role to play in moving the needle on climate change. They also need to understand the risks and opportunities posed by the political, economic and regulatory transformations required to keep global temperatures below 2°c.

Join our webinar to analyze the COP21 fine print, dissect the outcomes, and speak with experts who attended the talks.

SPEAKERS:
Chair: Linda-Eling Lee,
Global Head of ESG Research, MSCI 
Mark Campanale, Founder and Executive Director, Carbon Tracker Initiative
Stephanie Pfeifer,
Chief Executive, Institutional Investor Group on Climate Change
Véronique Menou,
Head of Thematic Investing, MSCI

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Webinar : UP IN SMOKE: LESSONS LEARNED FROM THE VOLKSWAGEN SCANDAL, Oct 15, 930am ET

The Volkswagen (VW) scandal caught many investors off guard. The repercussions are likely to be felt across the automobile industry for many years to come affecting companies and investors alike. The scandal shines a light on the need for greater corporate transparency. It also ignites the debate over the value of ESG data to detect signals which may be missed by conventional analysis.

Join our panel of experts to examine what ESG data and research can tell us about the scandal. The lessons learned. What are the possible repercussions for automobile industry and what signals are available to investors to potentially detect future black swans.

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SPEAKERS

Chair – Linda-Eling Lee, Global Head of ESG Research, MSCI
Alan Brett, Head of Corporate Governance Ratings Research, MSCI
Arne Klug, Senior Analyst for the Automobiles Industry, MSCI
Ian McVeigh, Head of Governance, Jupiter Asset Management

Webinar: Extensions of CreditMetrics Methodology: Developing Deeper Credit Risk Insights, OCT 15, 11AM EDT

WEBINAR: EXTENSIONS OF CREDITMETRICS METHODOLOGY: DEVELOPING DEEPER CREDIT RISK INSIGHTS

Please join us for a webinar focusing on RiskMetrics® CreditManager, and the underpinning CreditMetrics methodology, which has been used by practitioners for years to help quantify credit migration and default risk at horizons of one year and longer.

Recent extensions to the CreditMetrics methodology allow for deeper insights into credit risk.

Agenda Topics

  • Parameter Selection and Validation: Is Definition of ‘Risk’ Appropriate in Terms of Quantile Used and Correlation Modeled?
  • Correlated Recovery: A Must, or Too Much? Should Recovery Rates Depend on Market Factors?
  • Concentration Add-Ons: How Much Risk is Driven by Concentration?
  • Interpreting Economic Capital Contributions: What Factors Drive Risk at a Given Quantile?

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