This is somewhat surprising given that global property stocks tend to have meaningfully higher volatility than
the broader global equity market.
For instance, as measured by price - to - earnings (P / E) and price - to - book (P / B) valuations metrics, EM stocks continue to trade at a roughly 30 % discount to
the broader global equity market (source: MSCI, as of 3/31/2015).
Not exact matches
The MSCI World Index offers a
broad global equity benchmark without emerging
markets exposure.
Through November 2017, US and many
global equity markets were up double - digits, and
broad corporate and emerging -
market debt indexes posted strong returns as well.
The ongoing surge in demand, which has put an end to a long - lasting commodity bear
market that began in 2011, also helped the asset class to occasionally decouple from
broad selloffs in challenging
global equity markets.
The bottom line: Investors are being offered better returns for taking risk in the low - return landscape, and a portfolio allocation to a
broader, diversified mix of assets — including alternatives,
global equities and emerging
market (EM) assets — can potentially help improve returns, in our view.
Prior to joining MFS in 2015, Chris was a vice president of Eaton Vance Management, director of product and portfolio strategy for
equity mandates and an institutional portfolio manager for Eaton Vance's broad suite of equity investment strategies, including US Large Cap Value, Hexavest Global and International Equity, Parametric Emerging Markets and the Richard Bernstein Advisors strat
equity mandates and an institutional portfolio manager for Eaton Vance's
broad suite of
equity investment strategies, including US Large Cap Value, Hexavest Global and International Equity, Parametric Emerging Markets and the Richard Bernstein Advisors strat
equity investment strategies, including US Large Cap Value, Hexavest
Global and International
Equity, Parametric Emerging Markets and the Richard Bernstein Advisors strat
Equity, Parametric Emerging
Markets and the Richard Bernstein Advisors strategies.
The
Market Has Rewarded Big Disrupters
Market - cap path of FANG and BAT companies versus a
broad global equity universe, 2014 - 2017
The State Street
Global Equity ex-U.S. Index Fund (the «Fund») seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of a broad - based index of world (ex-U.S.) equity markets over the long
Equity ex-U.S. Index Fund (the «Fund») seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of a
broad - based index of world (ex-U.S.)
equity markets over the long
equity markets over the long term.
The
broad rally in
global equity markets this year was based on an increasingly synchronized recovery in most economies, with many reaching full - employment performance.
Australia ranks second only to China in
equity capital
markets issuance in the Asia - Pacific region (excluding Japan) this year, as the region's rise in issuance mirrors a
broader global increase.
The MSCI World Index is a
broad global equity benchmark that represents large and mid-cap
equity performance across 23 developed
markets countries.
The bottom line: Investors are being offered better returns for taking risk in the low - return landscape, and a portfolio allocation to a
broader, diversified mix of assets — including alternatives,
global equities and emerging
market (EM) assets — can potentially help improve returns, in our view.
While full details have not been published yet, the preliminary prospectus explains the fund will track «the performance of a
broad global equity index that focuses on developed and emerging
markets, excluding Canada.»
Notes: U.S. stocks represented by Dow Jones U.S. Total Stock
Market Index through April 2005, MSCI US
Broad Market Index through June 2013 and CRSP US Total
Market Index thereafter; emerging
markets stocks are represented by MSCI Emerging Markets Index; REITs by FTSE NAREIT Equity REIT Index; dividend stocks by Dow Jones U.S. Select Dividend Index; commodities by S&P GSCI Commodity Index; high yield bonds by Bloomberg Barclays U.S. Corporate High Yield Bond Index; emerging markets bonds by Bloomberg Barclays EM USD Aggregate Index; investment - grade corporate bonds by Bloomberg Barclays U.S. Corporate Index; U.S. Treasury bonds by Bloomberg Barclays U.S. Treasury Bond Index; Hedge fund index by HFRI fund - weighted total return Index and international bonds by Bloomberg Barclays Global Aggregate ex-USD Bond
markets stocks are represented by MSCI Emerging
Markets Index; REITs by FTSE NAREIT Equity REIT Index; dividend stocks by Dow Jones U.S. Select Dividend Index; commodities by S&P GSCI Commodity Index; high yield bonds by Bloomberg Barclays U.S. Corporate High Yield Bond Index; emerging markets bonds by Bloomberg Barclays EM USD Aggregate Index; investment - grade corporate bonds by Bloomberg Barclays U.S. Corporate Index; U.S. Treasury bonds by Bloomberg Barclays U.S. Treasury Bond Index; Hedge fund index by HFRI fund - weighted total return Index and international bonds by Bloomberg Barclays Global Aggregate ex-USD Bond
Markets Index; REITs by FTSE NAREIT
Equity REIT Index; dividend stocks by Dow Jones U.S. Select Dividend Index; commodities by S&P GSCI Commodity Index; high yield bonds by Bloomberg Barclays U.S. Corporate High Yield Bond Index; emerging
markets bonds by Bloomberg Barclays EM USD Aggregate Index; investment - grade corporate bonds by Bloomberg Barclays U.S. Corporate Index; U.S. Treasury bonds by Bloomberg Barclays U.S. Treasury Bond Index; Hedge fund index by HFRI fund - weighted total return Index and international bonds by Bloomberg Barclays Global Aggregate ex-USD Bond
markets bonds by Bloomberg Barclays EM USD Aggregate Index; investment - grade corporate bonds by Bloomberg Barclays U.S. Corporate Index; U.S. Treasury bonds by Bloomberg Barclays U.S. Treasury Bond Index; Hedge fund index by HFRI fund - weighted total return Index and international bonds by Bloomberg Barclays
Global Aggregate ex-USD Bond Index.
60/40 benchmark is 42 % Spliced Total Stock
Market Index (Dow Jones U.S. Total Stock
Market Index (formerly known as the Dow Jones Wilshire 5000 Index) through April 22, 2005; MSCI US
Broad Market Index through June 2, 2013; and CRSP US Total
Market Index thereafter); 18 % Spliced Total International Stock Index (Total International Composite Index through August 31, 2006; MSCI EAFE + Emerging
Markets Index through December 15, 2010; MSCI ACWI ex USA IMI Index through June 2, 2013; and FTSE
Global All Cap ex US Index thereafter); 40 % Spliced Bloomberg Barclay's US Aggregate Float Adjusted Bond Index (Bloomberg Barclays U.S. Aggregate Bond Index through December 31, 2009; Bloomberg Barclays U.S. Aggregate Float Adjusted Index thereafter) through May, 2013; thereafter, fixed income portion is 28 % Spliced Bloomberg Barclay's U.S. Aggregate Bond Index, 12 % Bloomberg Barclays
Global Aggregate ex-USD Float Adjusted RIC Capped Index Hedged; after December 2014
equity portion of the benchmark is 36 % Spliced Total Stock
Market Index, 24 % Spliced Total International Stock Index.
Proficient in Japanese, he regularly advises major Japanese and international companies and financial institutions on a
broad range of
global capital
markets transactions including SEC - registered and exempt offerings of debt,
equity,
equity - linked and hybrid securities.