Ginnie Mae Project Loans (GNPL), one of the major agency CMBS products, had a breakout year in 2020 as new issuance doubled since 2019. Typically fixed rate loans that have a maturity term of 35-40 years and full...
Institutional investors often pose the question of how factors perform across economic cycles. The concept of a normalized cycle has come under pressure in the post-Global Financial Crisis (GFC) era that has seen...
As of December 31, 2019, there were $5.7 trillion of active strategies using Russell US Style Indexes as performance benchmarks, and $466 billion using them as bases for passive investment, for a total of $6.2...
Institutional investors are often faced with the question of which factor strategies should be implemented in different phases of the economic cycle. In this paper, we examine how factors behave across four economic...
The Kingdom of Saudi Arabia embarked upon a significant economic reform program in 2016 (Vision 2030), seeking to diversify away from oil dependence, and high economic cyclicality, and to increase the size of the...
The green economy is an increasingly important part of addressing environmental objectives and its data, a key part of investors sustainable investment tool kit. With the development of new green taxonomies at the...
Despite the increased integration of the world’s economies and financial markets, studies show that pension funds worldwide continue to skew their portfolios to domestic securities. This paper examines the investment...
FTSE Russell is set to add Chinese government debt to its World Government Bond Index (WGBI) in 2021 subject to further confirmation in March 2021. The decision follows FTSE Russell’s assessment of improvements in...
The European commercial real estate is estimated to represent some EUR 7.27 trillion of assets. While still small compared to the US and Asia, it has been undergoing significant changes in recent years.Studies show...
The rapid development of institutional grade financial infrastructure such as exchanges and custody arrangements has made digital assets such as Bitcoin more accessible to traditional asset managers, ETF issuers and...
FTSE Russell index standards are underpinned by strong governance and an emphasis on transparency. To ensure that our indexes continue to meet investors’ requirements, independent committees advise on their design to...
To prevent a re-run of the 2008/09 collapse in the US financial system, the US Fed again stepped into the agency-MBS market, after the COVID-19 shock emerged in Q1, buying almost $600 billion of agency-Mortgage...
Multi-asset investing has grown dramatically in popularity during the last decade. Together with passive investing, it is currently one of the fastest-growing segments of the global asset management business.However,...
In this paper:The COVID-19 related sell-off in corporate bonds in the first quarter 2020 caused some commentators to express concern about the liquidity and functionality of fixed income ETFs, led by corporate bond...
The purpose of this paper is to outline ways in which government bond investors can take climate risks in their investment approaches into account. It presents and articulates the climate methodology that underpins...
Investors increasingly recognize the value of incorporating sustainable investment principles in financial analysis, but integration of these within fixed income has typically lagged behind equity due to complexity...
The purpose of this paper is to outline ways in which government bond investors can take climate risks in their investment approaches into account. It presents and articulates the climate methodology that underpins...
Factor investing is a simple concept. Put simply, factor exposures drive the performance of diversified portfolios. With a construction technique that furnishes the ability to achieve precise and controlled factor...
Get a broad introduction to sustainable investing: what it is, who uses it, why interest in this approach is on the rise, and how investors can implement a portfolio with a sustainability focus. Read this paper to...
Unlike 2008/09, when the US housing market and non-performing subprime MBS formed the epicenter of the GFC, the housing market has proved more robust in 2020. Learning from 2008/09, the Fed quickly resumed MBS...
