Content (122)
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White papersResponsible fixed-income Investing
2020 was a pivotal year for responsible investing, especially in fixed income. For more than three decades, Calvert has viewed responsible investing as a positive force for influencing corporations.
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White papers
Going beyond “active vs. passive” in EM debt with Eaton Vance proactive management
In developed markets, the choice between active or passive management offers investors a valid baseline distinction.
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White papers
Five reasons to be bullish on local-currency emerging-market debt
We are broadly bullish on emerging-market debt (EMD) – particularly local-currency EMD – as we expect the notably positive turn in the macro environment to continue.
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White papers
Defining the links between corporate ESG performance and credit risk
A growing body of research has established positive links between better management of environmental, social and governance (ESG) factors and improved credit risk.
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White papers
How democracy is impacting economic policy and investment outcomes
Economic policy has an empirically documented relationship to asset prices. For example, sovereign bonds of economically “free” countries typically have higher credit ratings and much tighter yield spreads than those of countries where economic policy is much less liberal. It follows then that an investor who can correctly assess whether a country is becoming more/less economically free can – all else equal – potentially make money for their clients. Since markets appear to appropriately discount current economic policy conditions, the challenge for professional investors is to understand and accurately forecast the likely direction of policy change.
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White papers
After election and vaccine news, loan rally caps a remarkable 2020 rebound
The likely prospect of a divided government, combined with the announcement of a COVID-19 vaccine, propelled all risk asset sectors sharply higher, including floating-rate loans
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White papers
The CLO investment opportunity
Collateralised loan obligations (CLO) have gained increased attention in the press and from allocators in recent years, but remain poorly understood, as misperceptions surrounding CLO risk persist.
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White papers
The new COVID-19 landscape: Country selection is key for EM debt
COVID-19 has changed the landscape for emerging markets (EM) debt, injecting a new dimension of pandemic-related economic uncertainty.
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White papers
Democracy’s dichotomous role in economic policy changes and investment outcomes
This research paper, picking up on the empirically documented relationship between economic policy and asset prices, seeks to identify key determinants of economic policy change.
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White papers
Multi-Asset Credit strategy four-year anniversary highlights
The four-year period since inception (1 July 2016 to 30 June 2020) has seen the Eaton Vance Multi-Asset Credit Strategy consistently delivering excess returns relative to its blended index benchmark (1% annualised excess return for full period). Relative to Libor, the strategy has also delivered positively (annualised excess return of 3.6%). Ongoing success stems from both asset allocation and security selection decisions, in tandem with successful downside risk management.
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White papers
Global High Yield Strategy five-year anniversary highlights
The five-year period since inception (1 July 2015 to 30 June 2020) has seen the Eaton Vance Global High Yield Strategy deliver excess returns relative to its index benchmark (almost 1% annualised excess return) with less volatility than the index (7.35 versus 7.87).
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White papers
Facing hard truths: How a pandemic brought inequality into the board room
Calvert has long considered inequality to be an important thread in the overall fabric of responsible investing, embedded in the middle term of ESG — environmental, social and governance factors that influence corporate performance.
