Performance of Indian Capital Markets in 2017

Capital markets in India had a bull run in 2017 and gave exponential returns across size, segments, and sectors. In this blog, we will analyze how capital markets in India have performed in 2017. Exhibit 1 and 2 showcase returns for India’s four leading size indices in 2017.  Exhibit 1: One-Year Absolute Returns of Size Read more […]

S&P 500 Companies Issued USD 775 Billion of Bonds in 2017

2017 was the sixth consecutive year of record U.S. corporate bond issuances, as companies continued to take advantage of the accommodative environment created by low interest rates and strong investor demand. As measured by the S&P 500® Bond Index, 325 companies came to market for a total of over USD 775 billion in 2017. Approximately Read more […]

Is the Needle Moving on Sustainable Business?

2018 is set to be a major year for sustainable business. The new year is a time to take stock of where we are going—and we are grateful for the opportunity to dig deep into our data to answer the question: “Is the needle moving on sustainable business?” Each year in the State of Green Read more […]

Rieger Report: Municipal Bond ETFs – 10 Years of Growth

The first Exchange Traded Funds (ETFs) tracking municipal bonds were launched in September 2007. Since then the municipal ETF market has grown to 40 ETFs representing over $30.5billion in assets under management. Municipal Bond ETF Market Snap Shot: 40 ETFs all but one represents tax-exempt municipal bonds. There is one ETF tracking taxable municipal bonds. Read more […]

Most S&P and Dow Jones Islamic Indices Outperform Conventional Benchmarks in 2017 Driven by Strength in the Technology Sector

Most S&P and Dow Jones Shariah-compliant benchmarks outperformed their conventional counterparts for the year as information technology companies—which tend to be overweight in Islamic Indices—gained a whopping 39.4% beating the overall market by a wide margin, and financials—which are underrepresented in Islamic indices—experienced some weakness. This marked a reversal from 2016 where a surge in Read more […]

Turning Point in Bond Yields

The ten year Treasury note closed with a yield over 2.5% this week, sparking talk that interest rates may have bottomed. The first chart shows the yield on the 10 year treasury going all the way back to 1953.  As seen there, the bottom in July 2016 at 1.5%. Last March the yield was 2.5%, Read more […]

A More Thoughtful Approach to Broad Commodity Exposure

Over the last decade, beta commodity exposure has offered investors inefficient access to the commodity market, mostly due to front-month roll methodologies and fixed commodity weights. The Dow Jones RAFI Commodity Index is a broad commodity index based on Research Affiliates’ commodity strategy that utilizes price momentum and roll yield to provide (1) dynamic commodity Read more […]

European Factor Highlights

We recently updated our S&P Europe 350 Factor Dashboard, which shows the factor exposures of a number of our European indices (interested parties can sign up here).  Here are some highlights from our year-end report. Little separated the returns to European core factor indices, but all outperformed While the extremely low stock-level dispersion contributed to Read more […]

A Growing ETF Market in India

A record-breaking collection on the Bharat 22 ETF (based on the S&P BSE Bharat 22 Index) earmarked a historical event for the Indian ETF market. The issue size pegged at to value INR 8,000 crores) received a nearly four-fold oversubscription, at over INR 31,000 crores.[1] This marked a huge success for the Indian government in Read more […]

Big Things Come In Small Packages – Part 4

Though the large-caps continue to rally more than the small-caps on the back of their biggest annual outperformance since 1999, small-caps persistently outperform mid and large-caps over longer periods of time, as shown below in the chart and in part 2 of this blog series. This has been shown by many researchers, most notably by Read more […]