Tag Archives: Europe
The S&P Europe 350 ESG Index – The European Benchmark for ESG-Focused Investors
The S&P ESG Index Series is aimed toward those who are looking to incorporate environmental, social, and governance (ESG) considerations into their investment products. These indices seek to provide benchmark-like returns by having the same broad industry group exposure as the underlying index while simultaneously offering an enhanced ESG profile. Within the European equities market,…
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Unpacking SPIVA Europe: Did Volatility Provide Opportunity?
How did active managers respond to record volatility and soaring spreads in 2020 as the pandemic brought Europe to a halt? Tim Edwards and Andrew Innes of S&P DJI join Rebecca Chesworth of State Street Global Advisors and Pio Benetti of Kairos Partners SGR to explore the latest results from SPIVA Europe and the active…
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Hidden in Plain Sight
International equity investors have long participated in the U.S. market, but their interest has often focused on the globally recognized blue chips included in benchmarks such as the Dow® and the S&P 500®. In doing so, they may be missing out on the long-term outperformance of smaller companies; presently, they may also be missing out…
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S&P PACT Indices Sector Weight Explanation in Europe and the Eurozone
In April 2020, we launched the S&P PACTTM (Paris-Aligned Climate Transition) Indices. The indices aim to align with a 1.5oC climate scenario, the EU’s minimum standards for EU Climate Transition Benchmarks and EU Paris-Aligned Benchmarks, and the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), while maintaining a broad, diversified exposure. The S&P…
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A European Perspective on the U.S. Mid-Cap Sweet Spot
Should European investors be looking beyond large-cap U.S. equities for core exposure? S&P DJI’s Tim Edwards and State Street Global Advisors’ Rebecca Chesworth explore the case for U.S. mid-caps through broad and tactical sector exposures.
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Risk-Adjusted SPIVA®: No More Excuses?
For the first time, the SPIVA Europe Mid-Year 2020 Scorecard introduced risk-adjusted performance evaluations of European equity funds. Previously, proponents of active fund management may have criticized the SPIVA scorecard for measuring performance on a return-only basis. They may have argued that this only told one side of the story, and that their abilities should…
The Unrewarded Risk of Supernormal Fund Returns
The recently released SPIVA® Europe Mid-Year 2020 Scorecard had the unique opportunity to pit the performance of active funds against their passive benchmarks through an exceptionally rare event. The economic fallout from the coronavirus pandemic brought a period of extreme volatility, the likes of which have not been seen in Europe since the global financial…
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No Immunity for Active Managers
Despite the early warning signs of a global pandemic and its devastating potential to obliterate economic growth, it appears that fund managers in Europe generally failed to position themselves appropriately for the storm that was to come. Taking a sneak peek into our upcoming SPIVA® Europe Scorecard, we can see the majority of Europe Equity…
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The S&P Eurozone Paris-Aligned Climate Index Concept: A Greenwashing Minimization Approach to High Climate Impact Sector Neutrality
In January 2020, S&P Dow Jones Indices released a paper for the S&P Eurozone Paris-Aligned Climate Index Concept (PAC Concept). The PAC Concept aims to align with the proposals of the EU Technical Expert Group on Sustainable Finance (TEG), as published in its Final Report on Climate Benchmarks and Benchmarks’ ESG Disclosure dated September 2019,[1]…
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The S&P Eurozone Paris-Aligned Climate Index Concept: Implementing the Proposed EU Climate Benchmark Regulation
Introduction In January 2020, S&P Dow Jones Indices (S&P DJI) released a paper for the S&P Eurozone Paris-Aligned Climate Index Concept (PAC Concept). The PAC Concept conceptualizes the proposals of the EU Technical Expert Group on Sustainable Finance (TEG), as published in its Final Report on Climate Benchmarks and Benchmarks’ ESG Disclosure dated September 2019,[1]…
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