cro-level perspective of the structure and returns of the corporate sector. For the past three years. we have been using the CROCI data provided by Francesco Curto and his team in which they analyse the real level of cash returns from about 68% of the MSCI non-financial universe as an advance warning of the ex

ro-level perspective of the structure and returns of the corporate sector. For the past three years, we have been using the CROCI data provided by Francesco Curto and his team in which they analyse the real level of cash returns from about 68% of the MSCI non-financial universe as an advance warning of the ex