Hamish Preston

Associate Director, U.S. Equity Indices
S&P Dow Jones Indices
Biography

Hamish Preston is Associate Director, U.S. Equity Indices at S&P Dow Jones Indices (S&P DJI). Hamish is responsible for providing insights and thought leadership on S&P DJI’s U.S. equity index suite, including the S&P 500® and The Dow®, and he assists with the development of new benchmarks for market participants and promotes their potential applications. He is also a frequent contributor to financial media outlets.

Prior to his current role, Hamish worked in Global Research & Design at S&P DJI, where he was responsible for conceptualization, research, and design covering global strategy, factor-based, alternative beta, and thematic equity indices. Previously, Hamish worked in Index Investment Strategy at S&P DJI, providing research and commentary on the entire S&P DJI product set, including U.S. and global equities, commodities, fixed income, and economic indices.

Hamish holds a bachelor’s degree in economics from the London School of Economics and graduated with distinction from the University of Birmingham with a master’s degree in financial economics.

Author Archives: Hamish Preston

Indices Made Remarkable Recovery in Q2

After a volatile start to 2020, many investors were looking at double digit declines and were probably re-evaluating their 2020 expected returns. But while COVID-19 continued to determine market sentiment, Q2 hosted a remarkable recovery.  The S&P 500 (+20.54%) and the S&P MidCap 400 (+24.07%) posted their highest quarterly total returns since 1998, while the Read more […]

Why The S&P 500® Matters in India

We recently held a webinar examining the relevance of the S&P 500 to India-based investors, the potential diversification benefits of incorporating U.S equity exposure to an existing allocation, as well as showing how difficult active managers have found it to beat the index, historically.  You can watch a replay of the webinar here; here are Read more […]

Higher Turnover Ahead For S&P 500? Not Necessarily!

The emergence of COVID-19 caused sizeable recalibrations in financial markets as investors grappled with the anticipated impacts on people’s lives and on economic activity.  Given many companies saw significant drops in market capitalizations amid the recent market sell-off, and in light of expectations for companies’ earnings to suffer from reduced economic activity, some may be Read more […]

The S&P Composite 1500®: An Efficient Measure of the U.S. Market

The S&P 1500 serves as both a benchmark indicator for U.S. equity market performance and as a basis for passively replicating investment products that aim to deliver a “market” return.  Our new paper examines the index from both these perspectives, and compares the S&P 1500 with other U.S. equity market indices.  Here are a few Read more […]

Tracking The Cost of Retirement Income

One of the main risks for retirees is not having enough inflation-adjusted income in retirement to support their desired standard of living.  The S&P STRIDE (S&P Shift to Retirement Income and Decumulation)  Indices attempt to solve this problem by focusing explicitly on reducing the volatility of  income rather than reducing the volatility of returns. In Read more […]

Volatile Start to 2020 – What’s Next?

Last year’s prognostications about the events and trends to monitor in 2020 have evaporated as COVID-19 has upended people’s lives and caused massive recalibrations in financial markets.  In Q1 2020, we said “goodbye to the bull market”; large market movements became the new normal; correlations and dispersion shifted drastically; quantitative easing returned; and access to Read more […]

Bye Bye Bull Market: Reaction to Coronavirus

The last few weeks have definitely felt like a “where were you when…?” moment as coronavirus fears spread around the world and many people’s day-to-day lives have been disrupted.  Amid the anxiety and disruption, global financial markets nosedived, sending all major equity indices tumbling, VIX® soaring to levels not seen since the financial crisis, and Read more […]

U.S. Equities: Staying the Course

The last few days have been turbulent for financial markets as coronavirus contagion fears took hold.  Global equities fell; the S&P 500®’s 6.6% price return plunge since the end of last week wiped off its year-to-date gains; recent U.S. sector and industry declines mean that nearly all S&P Composite 1500® industries are down month-to-date; and Read more […]

S&P Composite 1500®: Providing Higher Quality U.S. Equity Exposure

Over the last few years, mega-cap companies have played an increasingly important role in driving U.S. equity market returns. Indeed, the five largest names in the S&P 500® accounted for 16.8% of the index at the end of last year, the highest year-end weight since 1982 and higher than the 16.6% reached at the end Read more […]

Divergence in Sector Returns

After a pullback in the market over the last week, it remains to be seen if U.S. equities will finish the month in the black.  However, as of yesterday’s close, the S&P Composite 1500, which represents over 90% of U.S. equity capitalization, was up 1.21% since the turn of the year as large cap gains Read more […]