All Dynamic/Global/Tactical Asset Allocation articles
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White papersRelative Value & Tactical Asset Allocation Q4 2024
We are anticipating a stable macro environment in the near future, with some uncertainties stemming from U.S. elections and monetary policy. We continue to look for spreads to mostly remain range bound, with a low chance of further tightening. With a low risk of recession, a carry strategy is preferred in the next quarter or two, meaning we prefer investments with attractive yields, while remaining cautious about potential weakness.
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White papersPrivate asset allocations in open-ended funds
Allocating to private assets in open-ended funds can offer investors benefits such as diversification, but there are drawbacks, too, like illiquidity. In this second article in a three-part series drawn from a recent paper, we look at how asset managers can construct portfolios for open-ended funds that include allocations to private assets, providing a way for smaller investors to gain exposure.
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White papersRelative Value & Tactical Asset Allocation: Q3 2023
As most central banks are nearing the end of the hiking cycle, JP Morgan’s Global Manufacturing PMI Index remained at a level consistent with a contraction. It was the ninth consecutive month below the neutral level of 50.
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White papersReal-Time Macro Information and Bond Return Predictability: A Weighted Group Deep Learning Approach
This paper proposes a weighted group neural network model and reexamines whether treasury bond returns are predictable when real-time, instead of fully-revised, macro information is used. Real-time macro vintage data and news-based topic attention are taken into account.
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White papersThree Ways to Manage Liquidity Risk in Bond Markets
Liquidity risk has grabbed headlines recently after several high-profile funds imploded. The hunt is on to find ways to manage liquidity risk and protect portfolios against further setbacks—but not all investors will be up to the task.
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White papersAdopting An LDI Approach Throughout The Investment Value Chain
The insurance business model is fundamentally based on underwriting and managing risks: insurance companies are contractually bound to meet specific obligations and as such structurally driven by liabilities.
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White papersBrexit And UK Defined Benefit Funding
Immediately following the EU referendum, financial markets downgraded medium-term growth expectations for the UK. Sterling weakened, long-dated government bond yields fell, and UK equity assets fell relative to international equities. Two-and-a- half years on we can see that this weakness has not unwound.
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White papersAlternative Income Study 2018
Alternative income, real assets, private assets, illiquids: however they are described, the appeal of unlisted assets has grown significantly among European pension funds and insurers over the past decade.
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White papersPortfolio strategies to cope with trade tensions
Escalating global trade tensions can affect regions and asset classes differently.
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White papers2018 Midyear Outlook: (Still) Risk On
Investors are facing some pretty big questions: How long will the economy continue to expand? How will rising interest rates affect my portfolio? Will volatility continue to climb? Do geopolitics (or even just political posturing) really matter?
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White papersEconomic Insights: June 2018
Stock market outlook: It may be a long, hot summer. Defensive stocks outperformed in June; investors may be starting to worry. We believe the robust U.S. and world economy should bring higher stock prices later this year.
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White papersAsset Allocation Update: Strong earnings prompt US equities upgrade
Amid background noise such as ongoing trade skirmishes involving the US, the evolving Chinese economy and geo-political tensions, we have spent time analysing recent market movements and the implications for risk assets.
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White papersEconomic Insights: April 2018
What happens after a crisis? A return to normal. The world economic expansion, now two years old, remains intact, albeit with modest deceleration outside the United States.
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White papersManaging currency risk in equity portfolios
This report shows how equity index futures provide a more flexible alternative than cash equity products for managing foreign exchange risks.
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White papersEquity Index Futures vs. ETFs Total Cost Analysis Tool
This tool is designed to analyze the all-in costs of replicating the S&P 500 by trading equity index futures versus exchange-traded funds.
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White papersEconomic Insights: March 2018
Economic decoupling begins: Growth should stay solidly above trend for 2018, but the world economy is no longer picking up steam.
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White papersThe Big Picture: A Cost Comparison of Futures and ETFs
Analyse the potential cost advantages of E-mini S&P futures as they pertain to your specific investment scenarios.
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White papersScience and Art: A Framework to Unlock Multi-Asset Opportunities
Strategic allocation poses big challenges today—and multi-asset portfolios can help.
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White papersEconomic Insights: February 2018
What happens after growth peaks? A bit of deceleration. When things are so good they can’t get any better, they usually don’t. Still, the robust momentum should carry well into 2019.
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White papersColin Moore: Absence (of market volatility) made the heart grow fonder
Investors loved the markets while volatility was absent, but now it is back it should be a salutary reminder that it is part and parcel of investing.
