20 Top Papers from October 2019

Popular and Trending Papers from October 2019

Given the start of the final quarter and the more uncertain economic conditions that investors face, it is not perhaps surprising that several of this month’s Top Papers are concerned with Market Outlook and prospects. However, readers are treated to papers on a wide range of topics including those that have been popular throughout the year (e.g. factor Investing and ESG). Readers may also be interested to note that the unique Savvy Salary Surveys have recently been updated.

Of some interest may be a subset of papers that feature the conundrum that is China, which highlight the opportunities that do exist, whilst caveating some of the potential threats that may also materialize. Meanwhile, papers which return to the 'basics' of the fundamental analysis of stocks have also proved popular. Kindly note that some of the papers selected may not be visible in some locations due to them having a restricted geographical distribution; however, Savvy Investor collates a resource of over 10,000 white papers that may be of additional interest. 

Invesco Global Factor Investing Study 2019

For compliance reasons, this paper is only accessible in certain geographies

This 4th Annual Study into factor investing by Invesco is the largest in-depth analysis of global factor investing.

Factor equity strategies in the business cycle - some analyses (Vontobel AM, 2019)

Vontobel’s paper investigates the returns (including risk-adjusted ones) of various factor-based strategies from 1975-2018.

The investment implications of new corporate models (PGIM, 2019)

PGIM’s most recent Megatrends paper offers insights into comprehending the changing nature of the 21st century firm.

Upcoming Urbanites: Urbanization drives major economic shifts (Nuveen, 2019)

Nuveen describes alternative investment opportunities in agriculture, infrastructure, impact investing, and real estate that have arisen as a result of mass urbanization.

Spotlight on Semi-Transparent ETFs (State Street, 2019)

A new class of semi-transparent, active ETFs is prompting investors to think of ETFs in a whole new way. State Street's ETF specialists discuss some of the most common questions they’ve received.

Climate risk in private real estate portfolios: What’s the exposure? (MSCI, Oct 2019)

In this report MSCI examines climate risk for private real estate in 5 differing locations.

The winning strategy for the pension market in China (McKinsey & Company, 2019)

McKinsey & Company outlines the commercial reforms needed by China’s three-pillar pension system to meet the needs of an aging population.

The Next Digital Superpower: The U.S. or China? (Vontobel AM, Sep 2019)

Vontobel’s paper investigates the background to the current US - China trade dispute and identifies the significant historical and cultural differences between the two countries which may eventually result in a New World Order.

China Icebergs: Forces That Could Reshape the World (EIU/ PineBridge, Oct 2019)

This EIU/Pinebridge study looks into the dynamics behind the rise in new Chinese corporate giants and uncovers trends and drivers that are apparent, but not yet fully visible, in the next generation of companies.

Q4 2019 Outlook & Review (QMA)

QMA provides their outlook for Q4 2019, with a look at the prospects for the global economy, escalating geopolitical risks, central bank policy rates, and more.

CIO View: Our 12-Month Economic & Market Outlook (DWS AM)

For compliance reasons, this paper is only accessible in the United Kingdom

DWS AM provides a detailed outlook for the global economy and markets over the next 12 months.

Savvy Investor's Salary Surveys

This unique resource, recently updated, draws upon information gleaned from across the wider Asset Management industry.

Q4 2019 Outlook: Policy Anxiety, Perfect for Bonds (PGIM Fixed Income)

PGIM Fixed Income’s senior investment professionals offer the firm's Q4 2019 Outlook on a sector-by-sector analysis.

Multi-asset market outlook (Robeco, Oct 2019)

Robeco provides insights into the outlook for global equities, bonds, and foreign exchange.

Machine Learning for Investment Managers (SimCorp, 2019)

SimCorp presents four innovative cases for the use of artificial intelligence within the investment management industry

The P/E Ratio: A User’s Manual (Epoch Investment Partners, 2019)

In the first of two papers going ‘back to basic’s’ using fundamental analysis, Epoch explores whether a stock’s price and PE ratio can tell you how much a company is worth.

Free Cash Flow Works (Epoch Investment Partners)

In the second of two papers that draw upon fundamental analysis, Epoch suggests that free cash flow is one of the key determinants that investors should consider when making investment decisions on stocks.

IPO Lessons for Public Market Investors (Aswath Damodaran, Oct 2019)

Aswath Damodaran attempts to decipher the implications from a busy year in the IPO market and what investors might learn from the WeWork valuation implosion

Video: Anne Walsh, CFA, Warns of Cumulative Credit Losses (CFA Institute, Oct 2019)

In this video for the CFA, Guggenheim fixed-income CIO Anne Walsh suggests that given recent economic indicators, investors are right to be nervous after 11 years of economic expansion.