Akash Jain

Associate Director, Global Research & Design
S&P BSE Indices
Biography

Akash Jain is an Associate Director in the Global Research & Design team at S&P Dow Jones Indices (S&P DJI), which is responsible for conceptualizing and developing new investable index-based products across different asset classes. He represents S&P DJI at media engagements, conferences, and other client events.

Akash is an integral part of Asia Index Private Limited, which is a partnership between S&P DJI and BSE Limited (formerly Bombay Stock Exchange).

Akash joined S&P DJI in 2016. He has been in the financial markets for more than six years, including at Deutsche, Credit Suisse, and Edelweiss, with experience in both the buy side and the sell side. He has worked extensively in researching, back-testing, and trading portfolios across different asset classes.

Akash attained his Bachelor of Technology (B.Tech) degree from the Indian Institute of Technology (IIT Bombay) and holds an MBA from Saïd Business School (University of Oxford).

Author Archives: Akash Jain

The Effects of Dispersion in Carbon Intensity Scores on Carbon-Efficient Portfolio Construction

In this blog, we investigate the dispersion of carbon intensity scores in detail and its effect on carbon-efficient portfolio construction via equal- and market-cap-weighted approaches. A company’s carbon efficiency is measured by its carbon intensity score (C.I. score), provided by Trucost, which is defined as the greenhouse gas (GHG) emissions from a company’s direct operations Read more […]

Integrating Low-Carbon with Single Factors in Asia

Factor investing in Asia has grown at a rapid pace, with smart beta passive AUM growing at a 42% compound annual growth rate over the past five years, albeit from a relatively lower base.[1] With increasing awareness of climate change and related risks, investors may look to integrate carbon screening into their factor portfolios. In Read more […]

The Performance of Carbon-Efficient Portfolios in Asian Markets

In recent years, governments have become increasingly aware of the perils of greenhouse gases and have aimed to penalize the source of pollution while looking to incentivize low-carbon technologies. In addition, investors are now considering an organization’s future financial position to discount potential write-downs of assets and the effect on revenues, costs, cash flows, and Read more […]

Do Active Funds in India Benefit from Higher Active Risk Exposure?

Fund managers typically follow a factor or a style of investing and aim to construct portfolios by balancing active sector exposures and stock-selection risks within a sector. Tracking error is one way to measure a fund’s deviation from its respective benchmark to determine how “active” it is. As measured in the SPIVA® India Year-End 2018 Read more […]

The Opportunity Cost of Active Management

Investors typically flock to active funds to pass on the stock-picking decision making to a seasoned fund manager, with the hope that the fund manager’s experience and stock-picking capabilities will enable the investor’s portfolio to grow at a faster pace than that set by the benchmark. By using this approach, investors are able to circumvent Read more […]

Do Indian Equity Mutual Funds Generate Alpha When Adjusted for Risk?

Risk-adjusted returns showcase the return accrued for every unit of risk held in a portfolio. If two portfolios have the same returns over a given time period, the one that has the lowest risk will have the better risk-adjusted return. Modern portfolio theory (MPT) assumes that an investment with higher risk should compensate the investor, Read more […]

Passive Investing Opportunities in India

Fifty years ago, there were no index funds—all assets were managed actively. The subsequent shift of assets from active to passive management in the U.S. and European markets could be considered one of the most important developments in modern financial history, and this shift was the consequence of active performance shortfalls.[1] In India, we have Read more […]

Low Style Consistency in Large-Cap and Mid-/Small-Cap Fund Categories

Style plays an important role in an investor’s asset allocation decisions. In the SPIVA India Mid-Year 2018 Scorecard, one can notice the low style consistency, especially in the Indian Equity Large-Cap and Indian Equity Mid-/Small-Cap categories. The Securities and Exchange Board of India (SEBI) circular dated Oct. 6, 2017, mandated the following important directives for Read more […]

Assessing the Potential of Value Factors in the Indian Market

The value factor looks to bucket stocks that have inexpensive valuation and trade at a discount to their fundamental value, with the hypothesis that inexpensive stocks should outperform overvalued stocks. Observations in empirical research suggested that the value factor performed best when the economy was in recovery and growth was accelerating from trough.[1] We recently Read more […]

Takeaways From the SPIVA® India Year-End 2017 Scorecard

In a year with strong equity returns in India, the S&P BSE 100 ended in the black with a 33.3% annual return. However, the S&P Indices Versus Active (SPIVA) India Year-End 2017 Scorecard shows that a majority of active funds in the Indian Equity Large-Cap and Mid-/Small-Cap categories lagged their respective benchmarks over the one-year Read more […]