Bocconi Students Asset Management Club

This year has brought several exciting news to our association, and we’re excited to guide you through them. One of our big changes this year is the launch of our weekly newsletter team! Each week our team will analyse and break down key trends and events that impact investments and therefore the asset management world. Make sure to read our full article at the link: https://lnkd.in/e3zvhC9k Here’s what we’ll be covering: Global Economy: we’ll take a look at important economic releases from the week, using our selected economic calendar and discuss other significant events that influenced the markets; Equity Highlights: we’ll talk about how the main stock indexes performed each week and highlight the stocks that caught everyone’s eye. During earnings season, we’ll briefly comment on the most crucial reports; Fixed Income Focus: we’ll let you know about the latest happenings in the bond market, including changes in interest rates and new bonds issued and finally, a wrap up for the AM Division. Credits: Andrea Zito (Team Leader) Lavinia Catalano (Global Economy analyst) Mahek Dodani (Global Economy analyst) Pablo Ruiz Arango (Equity analyst) Vladimir Pashov (Equity analyst) Filippo Caselli (Fixed income analyst)

Welcome to all our new members! We successfully launched the semester with our first event yesterday afternoon. The event started with our board providing an overview of this semester's activities and initiatives and was followed by a networking aperitivo that allowed new members to connect and engage with their peers. We look forward to the productive and enriching semester ahead!

Applications are now open till September 30th! Don't miss out! To submit your application, use the link available in our Instagram bio. Still not sure about whether or not you want to apply? Come meet us at associations on display on September 13th! 

Meet our new board for the fall semester! Dario Iori - President  Jonathan Morbelli - Vice president  Gianluca Fiorentino - Co-Head of Market Insights Giulia Veggetti - Co-Head of Market Insights Bram Nauta - Head of Asset Management Elisa Mancini - Co-Head of International Operations Xinyue Ma - Co-Head of International Operations Elena Cavallaro - Head of HR Dimitrie Radu - Head of Events Stay tuned for more exciting initiatives!

We are pleased to share that our latest report: "Inflation-Linked Bonds: Rationale behind the Remedy against Inflation" is now available on our website! This comprehensive report thoroughly examines Inflation Linked Bonds (ILBs), renowned for their potential to shield against inflationary pressures in capital markets. The report starts with an in-depth analysis of portfolio behavior during inflationary periods, exposing various tools investors employ for inflation hedging. It underscores the tight correlation between interest rates and inflation expectations, while also clarifying the mechanics of bond functionality, emphasizing the relationship between bond duration and sensitivity to interest rate fluctuations. Turning to the current global market scenario, the report analyzes both developed and developing markets. While developed markets may be nearing the end of their interest rate rising cycles, inflationary pressures persist. Developing markets, characterized by heightened volatility, face amplified inflationary risks. Consequently, the report anticipates continued inflationary echoes throughout 2024, emphasizing the necessity of incorporating ILBs into portfolios for protection. The report's final focus is on explicating the functionality of ILBs. Understanding their performance in varied market conditions is principal for timely investment decisions. Historically, ILBs have mirrored expected inflation, demonstrating exceptional performance when actual inflation surpasses expectations. This presents an opportunity for investors to optimize gains, given that ILBs are not priced for higher-than-anticipated inflation. In conclusion, ILBs emerge as indispensable investment tools, particularly in high inflation environments. Their increasing returns aligned with inflation, coupled with market behavior, make them a dependable protection for investors. The report advises investors to allocate a portion of their portfolios to ILBs in 2024 to fortify against unforeseen high inflation costs. Read more on our website: https://lnkd.in/e5-vJgqQ

We are happy to announce that our report "DIVIDEND GROWTH FUND REPORT" is now available on our website! Dividend Growth Fund of Bocconi Students Asset Management Club is an investment fund set up in September 2023, with the aim of providing investors income while being exposed to dividend-focused companies. The fund invested mainly in US companies with a long history of high dividend yield, while providing stable returns even in turbulent market conditions. With the use of new risk management strategies, the Dividend Growth fund shows clear potential for the future. The rebalancing of the portfolio, where underperforming stocks have been sold and new stocks have been added, the fund is confident in the performance of the portfolio. The prospects seem bright, offering the promise of strong dividend performance and capital stability. The results from the reporting period highlight the collaborative effort dedicated to equity research; the fund has achieved returns on par with the benchmark and is on track to meet its predetermined dividend yield target. This success has given our team valuable insights, helping us to understand how we choose companies and providing clarity on the criteria we use in our stock selection process. To read the full report: https://lnkd.in/gwtegzyk

We are pleased to share that our latest report "ESG in Investment Process: ESG Funds" is now available on our website! In this report, the ESG Investments team illustrates a particular type of fund, that is increasing its importance between the investor, ESG fund. In the first part of the report, we describe the most popular methodologies used to build an ESG fund: exclusionary screening, inclusionary screening, impact investing and active ownership. We will analyse their characteristics and their issue, trying to give some examples. After that, we illustrate a case study: the ESG Multi Asset fund A2 of Blackrock, the biggest asset manager of the world. Firstly, an overview of the fund is given, we will describe the investment strategy and asset allocation. Finally, we compare the returns of the fund with its benchmark, considering relative returns and risk-adjusted returns and their indices. For more information, use the following link: https://lnkd.in/g2fhhbTf

We are proud to announce that our latest joint report "Himax Technologies, Inc." with I-Circle is now available on our website! Himax Technologies, Inc. is a fabless semiconductor company headquartered in Tainan City, Taiwan, with a focus on designing and selling hardware devices and semiconductor chips. Established in 2001, it operates through subsidiaries such as Himax Technologies Limited, Himax Display, Inc., Himax Imaging, Inc., and Himax Analogic, Inc., employing around 2100 employees globally. Its business segments include Driver IC (Integrated Circuit) and Non-driver Products, serving markets across Asia, Europe, and the Americas. The company offers critical components for small, medium, and large-sized applications. Its product lines range from display drivers and timing controllers to touch controller ICs, CMOS image sensor products, and 3D sensing technology. Congratulations to the team for the great work! Read the full report below! https://lnkd.in/gAfUpqG9

We are happy to share that our latest joint report "Analyzing And Finding Investment Opportunities In The Japanese Market In The Current Macroecomonic Environment" with I-Circle is now out on our website! Changing global economic environment challenges investors to seek for new investment opportunities in global markets. In this way, investors start to look with the higher interest to many assets, which weren’t in demand before. So, 2023 has become a year, when Japan finally returned to the outlooks of major investors from all over the world, demonstrating highly positive results and fundamental drivers of growth. Current macroeconomic situation in the country has eventually changed from the era of negative interest rates and slow growth (in comparison with the other developed and Asian countries), creating the possibilities for successful investments and diversification of the portfolios. In this overview, we try to outline the main highlights of current economic situation in Japan with its fundamental drivers as well as to connect it with the world of investments. The report discusses whether the current economic environment in Japan really should attract cashflows from investors and what are the possible risks connected with them. Overall, we provide an overview of the drivers that may impact the market significantly and suggest possible recommendations of investments behavior, which may make investments in Japan more profitable and less risky today. Congratulations to the team! Read the full report below on our website: https://lnkd.in/gCeH9wYw

We are pleased to annouced that our new report "Equity Analysis: Multiples And Fundamentals" in partnership with I-Circle is now available on our website! Stocks are among the most popular and best-known investments. They seem simple, and many brokers and banks offer easy access to stock trading. However, investors should first understand how to analyze a stock themselves and evaluate whether the investment in a share holds a promising potential or might be a dangerous matter. This report will lead an investor through different aspects of investing, which must be considered before making a decision and investing in a company. The report first covers different types of shares and fundamental considerations before diving into stock analysis with important factors, key numbers, and multiples. These allow investors to compare the company to its competitors and determine which company is the most promising investment. Subsequently, the report will cover the Capital Asset Pricing Model (CAPM) since the key numbers of this model are omnipresent and build the fundament for investors. Moreover, Environmental, Social, and Governance (ESG) considerations and the different rating scales will be explained. Sustainability is an eminent trend that has gained friction worldwide. A good ESG rating can benefit a company, while a low rating can impose a risk to the prospect of a company. To conclude, the last section applies all discussed topics and multiples to CrowdStrike to show how to apply these factors and information and make an example of how an investor should approach the analysis of a stock. Read the full report on our website: https://lnkd.in/gRMXG8Mc