The impact of the COVID-19 pandemic continues to be felt across the world, although there are welcome signs that the pace of increase in the numbers of infection cases and fatalities may be slowing. The scale of the effect of such a health crisis on economies and financial markets has been unprecedented and well-documented.
In terms of equities, the headline returns have been stark but there are nuances worth teasing out and, to this end, we take a look at what has happened through the lens of factors, utilising two different approaches :
- Smart Beta
- Active Quantitative Equity