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

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.

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Generative AI: Hope, Hubris, or Harrowing?

Generative AI: Hope, Hubris, or Harrowing?

Generative Artificial Intelligence (AI) models such as ChatGPT represent a transformative leap in the ability of machines to exhibit human-like behavior and to learn autonomously. AI can now surpass humans in a wide variety of cognitive tasks. Accordingly, a recent paper out of the University of Pennsylvania concluded that large language models could displace at least 10% of work tasks, affecting 80% of the US workforce.

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Decoding the Shifting Landscape of the S&P 500 Value Index

Decoding the Shifting Landscape of the S&P 500 Value Index

Unveiling Insights from Changes in Active Risk Exposure, Sectors, and Companies During the Annual Style Rebalance | The significant surge in index turnover during 2022 prompted an investigation into the underlying catalysts. By examining alterations in active exposure, sector dynamics, and the most notable movements of companies, valuable insights can be gleaned regarding the evolving nature of the index.

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