All Commentary articles – Page 58
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White papers5 things to know about the future of semiconductors
How fast things can change: there was a major shortage of semiconductors at the start of the pandemic, and now the industry is grappling with too much inventory in parts of the supply chain. This has led to a sell-off in semiconductor stocks and prompted questions about the depth and duration of this downturn.
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White papersInvestment Outlook – Positive but tempered return expectations
There were few places to hide in 2022. Inflation, monetary policy tightening and geopolitical risks marked a stark contrast to the drivers of returns in 2020 and 2021; the backdrop ultimately forced a revaluation of fixed income and equity assets. From low to high inflation, and from low to high interest rates, returns suffered as markets adjusted to the new paradigm.
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White papersMacro outlook – The clouds around the inflation peak
The inflation shock has defined 2022. Not primarily because as usual, by eroding purchasing power and corporate margins it has hampered consumption and investment – private spending has been remarkably resilient actually in the developed world given the circumstances – but because it has marked the end of an era for monetary policy.
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White papers2023 Outlook: Global Real Estate - 2
In this roundtable discussion, our experts across real estate debt and equity discuss how they are navigating today’s challenges and weigh in on where investors can turn to find attractive returns.
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Video2023 Global Real Estate Outlook - 1
Where can real estate investors turn to find attractive risk-adjusted returns?
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White papersThe Market Effect of Acute Biodiversity Risk: the Case of Corporate Bonds
In this paper, we investigate the relationship between biodiversity and companies, through the lens of corporate bonds. We focus on acute biodiversity events and address biodiversity as a risk, considering its looming losses.
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White papersEurope’s Political Strength Will Buffer the Coming Downturn
The recession will be painful, but the “old continent” is proving surprisingly adept at facing new challenges
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White papers2023 Infrastructure Outlook
The infrastructure sector remains resilient despite the market turmoil in 2022. Secular trends such as digitalization and decarbonization will continue to drive the need for new investments.
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White papersGaining exposure to inflation: linkers versus swaps
In the latest instalment of Simply put, where we make macro calls with a multi-asset perspective, we explore the different options for hedging inflation via fixed income products and outline why we believe investors should favour inflation swaps.
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White papersEquities: Not All Growth is Created Equal
The indiscriminate sell-off in growth companies is creating potential opportunities in ‘true’ growth stocks, which are becoming increasingly undervalued amid the broader market decline.
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White papersSemiconductors: The Darkness Before the Dawn
Given the headwinds of a cyclical downturn in demand, high inventories, and rising tensions between China and the U.S., the semiconductor sector is being challenged. But there are a growing number of reasons to be optimistic about the share prices over the medium term.
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White papersCapturing value in plastic waste
Today, the vast majority of plastic goes to waste, failing to tap into a potentially valuable resource. We consider the transition to a more circular plastic model and the key investment areas that show promise.
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White papersCIO views: adapting to a new rates regime in 2023
If 2022 was a year of regime change for investors, what comes next in 2023? A new rates reality is taking shape, with implications for everything from company earnings to debt serviceability to correlations between asset classes. Our CIOs consider the transition to higher rates as a key driver for their outlook next year.
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White papersInvesting in 2022, a year of regime change
Like financial risk, change can also cluster. Revisiting our CIO views published over 2022, we consider the seismic shifts in the investment landscape and how our strategies adapted dynamically to the new environment to make the best of it for investors.
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White papersThree things to watch in European high yield fixed income
European high yield bonds are warranting a closer look by investors given the significant re-pricing of fixed income markets during 2022.
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White papersInvesting in the fight against a worsening obesity epidemic
Obesity has quickly reached global epidemic proportions over recent years with levels close to tripling since 1975.
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White papersCOP27: 8 key takeaways
The 2022 United Nations Climate Change Conference (COP27) took place in a year of severe climate impacts as well as a host of humanitarian challenges from wars on multiple fronts and an uneven recovery from an ongoing pandemic to the growing food, energy, and cost of living crises.
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White papersPensions Watch | Issue 22: What’s been happening and what’s on the horizon in the world of pensions
Given the ever-greater regularity of unanticipated impactful events with equally unpredictable tipping points, we look at the importance to pension scheme fiduciaries of risk management. In particular, we consider the need for both more inventive scenario analysis and stress testing of schemes’ resilience against a multitude of ever-present and emerging risks allied to more nimble governance.
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White papersFinding attractive relative value in sub-investment grade infrastructure debt
Many investors seek to mitigate the business and financial risks associated with infrastructure debt by primarily targeting the investment grade segment of the market. Such instruments are deemed to have a low risk of credit default by rating agency methodologies.
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White papersNet Zero Investment Portfolios - Part 1. The Comprehensive Integrated Approach
The emergence of net zero emissions policies is currently one of the most important topics among asset owners and managers. In this research paper, we investigate the integrated approach, which is implemented by equity and fixed-income mutual funds and ETFs.
