Tag Archives: S&P Europe 350

Oct 21, 2020

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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May 18, 2020

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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Mar 27, 2020

Wash Your Hands of Market Timing with Risk Control

The market highs of February 2020 already seem like a strange, distant past, in which people socialized, worked in offices, and were blissfully unappreciative of their abundant supply of toilet paper. Life has changed. With that change, the S&P Europe 350® lost a third of its market capitalization in just a month. The market may…

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Oct 9, 2018

Beyond the SPIVA® Europe Mid-Year 2018 Headlines – Delving Deeper Into the Data

The S&P Indices Versus Active (SPIVA) Europe Mid-Year 2018 Scorecard is often cited for its latest headlines surrounding the active vs. passive debate. But beyond the SPIVA headlines, there is an extensive offering of insightful data that has been carefully measured and presented to help readers dig deeper. Let’s look at just one example from…

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Jan 9, 2018

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…

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Jan 2, 2018

2017…Among the Sleepiest of Years

If 2016 was unremarkable, 2017 was downright sleepy…at least as far as equity markets were concerned. In 2017, the S&P 500 notched the lowest level of volatility in 27 years. Both dispersion and correlations were among the lowest levels in the same period. This is in spite of a year that was far from lacking…

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Dec 18, 2017

2017: A Selection of Highlights

As we rapidly approach Christmas and New Year (not to mention year-end evaluations) it seems fitting to reflect on what happened in 2017.  We will publish our regional month-end dashboards on December 29 (interested parties may sign up here).  Before then, here are a few highlights using data as of December 15. Volatility was historically…

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Nov 7, 2017

Support or Resistance for Europe?

Subscribers to our European dashboard will know that October was a broadly positive month for the region’s equity markets; the S&P Europe 350 posted a 1.66% total return, while nearly every equity strategy in the region gained.  Additionally, the S&P Europe 350’s closing price level of 1,600 for October brought the benchmark to within touching…

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Sep 25, 2017

SPIVA Europe Mid-Year 2017 Scorecard: Active Versus Passive – Consistency Is Key

It’s that time of the year and the highly anticipated SPIVA Europe Mid-Year 2017 Scorecard is out.  European active fund managers are no doubt apprehensively looking to see how their industry is competing with the performance of their respective S&P DJI benchmark indices. At first glance, active proponents may breathe a sigh of relief for…

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Apr 4, 2017

Active Management Underperformance in 2016 Generally Higher Than in Previous Years

European equity markets, as measured by the S&P Europe 350, went up 3.44% in 2016, yet the average performance of active managers invested in Europe was negative, whether measured on an asset-weighted or equal-weighted basis.  Over the one-year period, more than 80% of active managers invested in European equities underperformed their respective S&P DJI benchmark….

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