All Commentary articles – Page 24
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White papers
SDG Engagement Equity Q2 2023 case study: Aalberts
In 2021, Dutch engineering group Aalberts set out a target that more than 70% of its revenue would be aligned with the SDGs by 2026. By end 2022 it had already hit 68%.
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White papers
360°, Q2 2023: Divergence, duration, dislocation
In the latest edition of the 360°, our quarterly fixed income report, we provide an overview of the key themes shaping the fixed income narrative and the team’s outlook for the months ahead.
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Higher for Longer, or Are Central Banks Overdoing It?
In this monthly series, we take a quick, comprehensive look at current macroeconomic themes that matter to clients.
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Equity Outlook: AI Stars Eclipse Broader Earnings Resilience
Excitement over AI has driven equities this year. Yet investors should maintain a disciplined, long-term focus amid uncertain market conditions.
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Opportunities lie beyond precarious path to growth
A central bank pause supports the case for bonds. Investors will have to assess the inflation path and the earnings outlook moving into 2024, in the search for opportunities in equities.
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Video
Transacting in a value-add strategy
What is PATRIZIA’s approach to deal-making in a value-add strategy? Why has our transactions strategy in the PATRIZIA TransEuropean series been successful? And what capabilites do you need for a successful value-add strategy?
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Fixed Income Investment Outlook: 3Q 2023
Central banks are finding it hard to finish the long journey toward inflation normalization, but we believe that policy rates are likely at or near their peaks—and could be maintained at elevated levels for some time. In an environment of slowing growth, restrictive monetary policy and rising idiosyncratic risk, we favor shorter durations, quality and a focus on security selection.
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Economic and Market Review: Long-Term Optimism Amid Short-Term Headwinds - 3Q 2023
Like many, we have been surprised by the strength of U.S. equities in the face of rising interest rates, sticky inflation, a regional banking crisis and persistent geopolitical tension.
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Engine Running, Shifting to Neutral
In the face of conflicting signals from our short- and medium-term outlooks, our Asset Allocation Committee is adopting more neutral views.
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How technological transformation is shaping Asia’s future
The hype surrounding advanced technology has reached fever pitch, from the latest breakthroughs in artificial intelligence (AI), to the new Apple headset which some believe could revolutionise the virtual experience and take the metaverse mainstream.
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From Climate Stress Testing to Climate Value-at-Risk: A Stochastic Approach
This paper proposes a comprehensive climate stress testing approach to measure the impact of transition risk on investment portfolios. Unlike most climate stress testing models, which are designed for the banking industry and follow a top-down approach, our framework considers a bottom-up approach and is mainly relevant for the asset management industry.
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Podcast
Outerblue Convictions – H2 Outlook - Opportunities beyond a precarious path to growth
This month’s episode is a special focus on the macro-economic outlook and investment themes for 2023 and beyond.
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Global Macro Outlook - Third Quarter 2023
Steadfast global resilience to recession highlighted the quarter, although the outlook hasn’t necessarily improved. But with labor markets tight and wages keeping pace with inflation, consumers are navigating the economy’s rough patches. Still, we expect growth to slow in time.
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Fixed-Income Midyear Outlook: Surfing Lessons
Surf’s up! Elevated yields and negative correlations are good news for bond investors. We share strategies for making the most of today’s opportunities.
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White papers
The office sector re-pricing: Value creation opportunities emerging in the European market
It’s not all doom & gloom, despite COVID-induced headwinds, ESG concerns and the plethora of articles about declining CBDs in the United States.
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Q2 2023 Asia Pacific Market Perspective
Between July and November 2023, soft-landing expectations remained intact; higher interest rates incrementally dampened growth and reduced inflationary readings, in line with central banks intentions.
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White papers
Private real estate entry points emerging amid selloff
A 12-year investment cycle fueled by historically low rates is coming to an end as private real estate reprices
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As private real estate sells off, conviction in listed REITs grows
Recent market events support our belief that favorable entry points are emerging for global listed REITs
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White papers
Going Back to Base
In the face of conflicting signals from our short- and medium-term outlooks, our Asset Allocation Committee is adopting more neutral views.