All Cash articles
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White papersAddressing misconceptions with net-zero investing
The journey towards achieving carbon neutrality, or net zero, by 2050 is not only essential for our planet but also increasingly demanded by investors. Motivations for those seeking to align their portfolios with net-zero often vary — spanning financial, societal, and ethical domains — yet many investors hold a common set of misconceptions related to implementation.
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VideoYour Questions Answered: managing cash and liquidity
In our Q&A video series, Debbie Cunningham, CIO, Global Liquidity Markets, sheds light on our approach to managing cash investments and risk, our track record through different market environments, the outlook for cash products as rates fall, and the role they play in a long-term portfolio.
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White papersMoving beyond cash
With the highest starting yields in 15 years, many fixed income sectors already produce more income than cash. And these sectors offer the opportunity for price appreciation once the U.S. Federal Reserve starts cutting rates, while the yield on cash will simply decline. We advocate a multisector approach that takes selective risk in credit sectors. Active management remains critical, as credit spreads are likely to widen in the coming months.
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White papersBonds, bullets and barbells – what happens after yield curve inversion?
Much has been said recently about when and why investors should consider extending duration. With interest rates at or near peaks, the potential to realise higher yields for longer may also offer the opportunity to achieve greater total returns by extending duration in advance of any decline in rates. When investors determine the time is right to extend duration, they may want to consider different methods for re-allocating available cash.
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White papersUncovering the qualities that set compounders apart
Compounder companies (“compounders”) are those with highly visible and long-duration growth. Lindy’s Law explains an anti-ageing process for such companies — the longer they exist, the stronger they become to survive well into the future. This enables many to become industry leaders and dominant global players. We refer to these types of venerable companies as “marathon runners”. They form the bedrock of the returns we generate for our clients. It’s not just their age that sets these companies apart. It’s the combination of unique corporate culture and resilience that keeps them growing in good and bad times.
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White papersMaking the most of your cash: demystifying the money markets
As a key beneficiary of the current economic backdrop, money market funds can provide a low-cost way to earn a return on cash. In this paper, we outline what the money markets are, how to access them and why investors should consider using them to make the most of their cash.
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BlogThe Case for Rebalancing into Bonds, in Pictures
In the current market environment, we see a compelling case for rebalancing into bonds vs. both stock and cash.
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White papersAmundi Insurance Insights #2
In the ever-evolving landscape of the insurance sector, many of the themes identified in 2023 continue to reverberate in 2024. Against a backdrop of slowing growth, high interest rates, geopolitical turmoil, environmental risks, as well as regulatory shifts, insurers are urged to take proactive measures to better position themselves to navigate the complexities of the investment landscape and capitalize on emerging opportunities.
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White papersU.S. Election: Age, Cash and Conflict
A political observer gives Joe Biden the edge, but thinks plenty could happen before November.
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White papersCash Balances: Is It Time to Make Your Money Move?
Investors moved large amounts of assets into money market funds during 2023.
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White papersServicing debt from the top of the cash waterfall
The structure of the US$275m senior-secured term loan is illustrative of how the Federated Hermes Trade Finance Strategy can generate competitive yield, while at the same time mitigating risks, and using top-line cash revenue to repay investors.
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PodcastMake Your Money Move
Given the economic uncertainties that unfolded from the COVID-19 pandemic and lead to rising inflation rates, investors held onto cash as their main arsenal. However, with central banks signaling interest rate cuts, now might be the time to move cash off the sidelines.
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White papersPortfolio construction themes
Like surfers bobbing in the ocean as they look for the perfect wave, many investors today believe better conditions will come if they just hold out long enough. But delaying too long could mean missing the ride entirely.
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White papersFive Reasons to Consider IG Credit in 2024
Given normalizing yield levels, attractive total return potential and ongoing uncertainties, there is a compelling case to be made for IG credit in the year ahead.
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White papersGauging the Fed’s QT Runway as Liquidity Recedes & Collateral Swells
Amid the shrinking pool of cash, the financial system’s ability to circulate excess liquidity to those who need it most will determine the length of the Fed’s quantitative tightening runway.
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White papersThe unpersuadables?
In his latest article on corporate governance in South Korea, Jonathan Pines, Lead Portfolio Manager, Asia ex-Japan Equity, looks at how to solve the ‘Korea discount’ and why copying Japan’s approach won’t necessarily work.
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White papersEuropean Bonds: Will Cash Stay King as Rates Reverse?
Investors who stay too long in cash may find they’ve missed out.
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White papersIt’s Time to Say Goodbye to ‘T-Bill and Chill’
Investors who wait too long to get off the sidelines may find they’ve missed out.
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White papersDiversifying income in a new era
With investors facing an uncertain economic and interest rate environment, many are tempted to over-allocate to cash and wait for further clarity. But we believe investors should continue seeking opportunities for portfolio growth and income generation, even if that means looking in unexpected areas. We offer three themes to consider, along with ideas for portfolio positioning.
