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UK EQUITY INCOME INDICES: 1Q18 UPDATe

23/4/2018

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Following our initiation of overage of the UK Equity Income Index/ETF universe (data to 4q17), we have updated the data for 1q18 performance update for selected indices.

​Returns
For 1q18, the most defensive UK Equity Income index was the MSCI UK Select Quality Yield, tracked by ZILK, at -5.49% compared to -7.21% for the FTSE 100.
On a 1Y basis, 90%xFTSE 100 returned +0.2% tracked by ZWUK, followed by -0.24% MSCI UK Select Quality Yield tracked by ZILK has performed best.
On a 3Y basis our proxy benchmark for ZWUK, which takes 90%xFTSE100, returned +15.4%,, followed by +11.4% for FTSE 350 ex Inv Trust Qual/Vol/Yield Factor 5% Capped tracked by DOSH.

Risk Adjusted
On a 3Y basis, 90%xFTSE 100 as a proxy for the benchmark tracked by ZWUK, followed by FTSE 350 ex Inv Trust Qual/Vol/Yield Factor 5% Capped tracked by DOSH, have delivered best risk-adjusted returns.

Correlation
On a 3Y basis, the FTSE UK High Dividend Low Volatility Index tracked by UKHD offers most differentiated returns relative to the FTSE 100 (lowest beta and correlation).

Gross Dividend Yield
Over the last year WUKD has offered the highest historic dividend yield.

View Report
Learn about ETF Research
Visit SEARCH ETF<Go> on the Bloomberg Terminal
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Multi-Asset Indices Can Help With Buy/Sell Decisions

11/4/2018

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  • ESBGMV Index targets the minimum variance multi-asset portfolio for GBP-based investors.
  • Systematic asset class adjustments offer insight to traditional and ETF-based investors.
  • Compared to 4q17, the index's biggest switches as at 1q18 have been from European High Yield Bonds and UK Equity to European Aggregate Bonds and Gold.
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Risk-based indices are different to factor-based indices, as they focus on the interaction between securities, not the characteristics within securities. Put simply, it's an alternative, systematic approach to asset allocation and risk management.

The Elston Multi-Asset Min Volatility Index (ESBGMV) launched in 2014 represents the minimum variance multi-asset portfolio for GBP investors.

As it takes a systematic approach, it's always interesting to see the asset-class switches that this methodology triggers via its monthly readjustments.

Comparing the index composition from 4q17 to 1q18, the biggest switches have been cutting back European High Yield Bonds and UK Equity, whilst adding to European Aggregate Bonds and Gold.

View Factsheet
Learn about Elston Indices
Visit ESBGMV Index <Go> on the Bloomberg Terminal
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UK DC pensions 1q18 Performance Comparator Update

11/4/2018

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Source: FTSE Russell

Evaluating DC pension scheme performance should be done on a cohort-by-cohort basis.

The standard FTSE UK DC Benchmark Indices provide a helpful reference index for a simple equity/bond allocation.

​But DC schemes could consider creating an independently calculated custom benchmark to match their "glidepath". 
 
FTSE UK DC Benchmark Index Performance 1q18 performance:
+0.1% 2015 Retirees, -1.5% 2025 Retirees, -3.8% 2035 Retirees, -4.4% 2045 Retirees.
Annualised 3 year performance to end March 2018:
+7.7% 2015 Retirees, +8.8% 2025 Retirees, +10.6% 2035 Retirees, +10.9% 2045 Retirees

View Factsheet
Learn about FTSE UK DC Indices
Visit 1UKDC025 Index <Go> on the Bloomberg Terminal
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Multi-asset minimum volatility portfolio 1q18 update

11/4/2018

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We have published the quarterly index factsheet for the Elston Strategic Beta Global Minimum Volatility Index: a multi-asset risk-based strategy.  The index strategy is designed to allocate to a diverse range of asset classes so as to minimise the volatility of the overall strategy.

View Factsheet
Learn about Elston Indices
Visit ESBGMV Index<Go>  on the Bloomberg Terminal
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why is the cost of investing so important?

2/4/2018

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  • WHO WE ARE
    • About
    • Contact
    • Events
    • Press
  • WHAT WE DO
    • Portfolio Solutions >
      • Our Portfolios
      • Custom Portfolios
      • Research Portfolios
    • Fund Solutions >
      • Our Funds
      • Custom Funds
    • Index Solutions >
      • Our indices
      • Custom Indices
    • SPECIALIST STRATEGIES >
      • Liquid Real Assets
      • UK Equity Income
      • Permanent Portfolio UK
      • All Weather Portfolio UK
      • Dynamic Risk Parity
      • Gold and Precious Metals
      • Enabling Net Zero
    • Research >
      • Investment Research
      • Regulatory Research
    • CPD
  • WHO WE HELP
    • Financial Advisers
    • Discretionary Managers
    • Asset Managers
    • Asset Owners
    • 中文
  • Insights