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Equities—In Depth

A deeper analysis of investment trends and topics across asset classes and global markets.

September 17, 2020

Mark Litzerman, CFA, Head of Global Portfolio Management

Sameer Samana, CFA, Senior Global Market Strategist

Chris Haverland, CFA, Global Asset Allocation Strategist

Ken Johnson, CFA, Investment Strategy Analyst

Chao Ma, PhD, CFA, FRM, Global Portfolio and Investment Strategist

Krishna Gandikota, Investment Strategy Analyst

The Shifting Landscape of Equity Sector Composition

Key Insights

  • The composition of equity benchmark indexes has evolved with the economy in recent decades, causing investors to rethink their approach to investing in sectors.
  • Traditional labels such as growth, value, cyclical, and defensive can be useful tools, but they may be less relevant in today’s investment environment.
  • Our approach to developing equity sector guidance is all-encompassing — as we consider macroeconomic, fundamental, thematic, valuation, and technical drivers.