Research and Commentary
FIS Group Archive | A Clear PerspectiveAbout Global Market Outlook Reports
About Global Market Outlook Reports
Our CIO, Tina Byles Williams, publishes our market outlook on a quarterly basis, based on research that examines market conditions over a three- to six-month period. These quarterly analyses serve as key inputs to our fund construction process, which incorporates strategic tilts to the market segments we believe will outperform over a six- to 12-month time frame. For global equity portfolios, these tilts incorporate regional, sector, and capitalization strata as well as investment process and style factors. For U.S. equity portfolios, tilts include sector, capitalization strata, investment process, and/or style factors.
Our objective is to construct a portfolio of “best in class” investments with weightings consistent with our overall investment strategy.
FIS Group Global Market Outlook Reports
Time for a New China Strategy? The Case for Decoupling Asset Allocation in Chinese Risk Assets: Q3 2023 Market Outlook
Already responsible for an estimated $5 billion in stimulative consumer spending – the equivalent of the entire annual earnings of Starbucks, American Airlines, or FedEx – the Taylor Swift ‘Eras’ Tour is doing more than its part to save the global economy. However, the economic phenomenon being dubbed ‘Swiftonomics’ will forsake China, as the pop legend’s tour plays four dates in Japan and a record six dates in Singapore, but not in the world’s second largest economy.
Shades of Value: Navigating the Nuances of Value Index Differences
In this update we review the results of the most recent Russell 1000 Large Cap Value annual Style Index rebalance that occurred on June 23rd. We also compare the exposures of the Russell 1000 Value index versus the S&P 500 Value index at 06/30/23 and consider the potential impact of factor and sector differences between the indexes on investors targeting large cap value exposure.
Multi-Manager Platform: Q2 2023 Update: Navigating the Lopsided Impact of Generative A.I. in Global Markets
In a paper entitled Generative AI – Hope, Hubris, or Harrowing, our CIO, Tina Byles Williams, explored the medium to long-term effects of Generative AI on the economy, financial markets, and broader society. The task for investment managers now lies in navigating this promising yet unpredictable future, particularly as the market has priced in substantial premiums for those perceived to be the primary beneficiaries of this emerging technology.
Alpine Snowball: Q2 2023 Market Outlook
The graveyard of once legendary business franchises has just added one more new member to its ignominious fraternity. The hastily arranged acquisition of Credit Suisse by its chief Swiss rival UBS in March 2023, ended the 166-year run of the global symbol of Swiss banking largesse. Credit Suisse was once the 15th largest bank in the world with offices in 50 countries and assets of over $1 trillion USD.
S&P 500 Catholic Values Strategy
S&P 500 Catholic Values Strategy Q1 2022 | March 31, 2022Annualized Returns (%) QTDYTD1 Year3 Years5 Years 7 Years10 YearsSince Inception1 Gross of fees-------3.28 Net of fees-------3.27 Benchmark2-------3.71 1 Inception Date: February 28, 2022 2 Benchmark: S&P 500...
2020 Outlook for Emerging and Frontier Markets
While the U.S. continued its decade-long run, surging ahead another +31% in 2019 to lead all major developed markets (except Switzerland, +32.5%), three emerging markets did even better last year. Taiwan gained +36% as investors reevaluated the “moat” of its market champion, …
Market Insights Alert
Papers: FIS Group Proprietary Research
The Sweet Spot in the US Equity Markets: Part 1
The US equity markets exhibit observable biases over time, alternately favoring one group of stocks over others: large cap vs. small cap; value vs. growth; defensive vs. dynamic; sector rotation, etc. We questioned whether there was a longer term benefit to favoring one group of stocks over the others.
Stories from Shanghai and the Mobile Payments in China
China has a long history of pioneering revolutionary change in payments. Coins dating from at least 700 BC have now been found in China, making it the first place in the world (that we know of) to issue coins.
Monetary Policy at the end of the Road?
As central bankers around the world continue to lament the lack of helpful fiscal policy and discuss the limitations of monetary policy after years of ultra-accommodative policy, we discuss what we see as a few of the potential risks to the outlook should the United...
A Tale of Two Styles: Value and Growth – Part 3
Yields have fallen precipitously since 2018 on weaker economics, driving Momentum stock leadership, and the underperformance of Value and more-shorted names. These trends reversed in September on positive macro headlines and a pickup in yields.
A Tale of Two Styles: Value and Growth – Part 2
It has been the best of times, it has been the worst of times…for growth and value…over the last decade. Since the end of the Great Financial Crisis (GFC), economic and market conditions have been generally favorable for US growth stocks. The economy grew at a slow...
A Tale of Two Styles: Value and Growth – Part 1
It has been the best of times, it has been the worst of times…for growth and value…over the last decade. Since the end of the Great Financial Crisis (GFC), economic and market conditions have been generally favorable for US growth stocks.
Videos And Webinars
Market Outlook and Research Webinars
FIS Group 1Q 2016 Market Outlook Webinar-20160121 1902-1
Panelist Information: N/A
Duration: 47 minutes
Description: N/A
FIS Group Q3 Market Outlook Webinar-20150724 1501-1
Panelist Information: N/A
Duration: 38 minutes
Description: N/A
2015 Global Market Outlook
Panelist Information: N/A
Duration: 42 minutes
Description: N/A
View Q4, 2014 Webinar
Tina Byles Williams, CEO/CIO of FIS Group leads a wide-ranging discussion on FIS Group’s view of geopolitical, demographic and macroeconomic trends shaping risk and investable opportunities for institutional investors.
The panel moderator Sam Austin, III, SVP Director of Marketing and Client Service (FIS Group) and Ms. Byles Williams conducted this discussion as a part of FIS Group’s third annual Investment Symposium. The event was held on September 26, 2014 in Philadelphia.
FIS Group, Inc. is an 20-year old Philadelphia based institutional asset management firm that focuses on investing in long-only global and international equity strategies.
Mid-Year Market Review and Emerging Markets Focus
Panelist Information: N/A
Duration: 53 minutes
Description: N/A
Frontier Markets Investing and 2Q Market Outlook 4-16-2014
Panelist Information: N/A
Duration: 42 minutes
Description: N/A