All Global articles – Page 105
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White papersThe sustainability of sustainability: green finance during the pandemic
Sustainable finance has been resilient amid the market shock, as a heightened awareness of environmental, social and governance (ESG) behaviours has coincided with a surge of regulatory changes and an uptick in green capital-market activities.
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White papers(Weekly Pandemic) Market Commentary – Mind the curve
The virus - galloping, but less deadly. Covid is spreading like never before, the stats say. 19 June saw 177k new Covid cases, the highest ever. The 5-day rolling average, currently at 143k, is 50k higher than in mid-May. Arguably, the numbers today are likely more truthful than in the past, because there is more testing. In a freshly released Focal Point “Covid-19: proprietary models set to monitor pandemic evolution” (online on 22 June), we advocate basing cases estimates on deaths – a measure less affected by testing issues.
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White papersThe Growth of Private Equity Secondaries
The Global Financial Crisis provided opportunities and growth in the Secondaries market as a means to gain liquidity, but is that the same case today as a result of COVID-19? Or has the investment landscape changed? Guests Tristram Perkins and Benjamin Perl discuss what some of the key differences and similarities might be, along with how the Secondaries market has developed before the pandemic hit, as investors are adjusting to the “new normal” in today’s market.
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Asset Manager NewsProsperity and preservation: the aim of active ownership
The exogeneous shock of the coronavirus pandemic has confirmed the importance of sustainability. We have absolute conviction that we must continue to act as owners of companies and help shape the narrative of the role of sustainability in a post-coronavirus world.
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White papersCOVID-19 and data infrastructure: Will demand translate into profit?
During the initial outbreak of COVID-19, we published a report on the underlying long-term trends supporting data infrastructure. Since then, much about the world as we knew it has changed. Laurence Monnier assesses how many of the trends we identified remain intact and whether the surge in demand for data services and infrastructure will translate into investment opportunities.
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White papers2020 Global Strategy Perspective
As we start the third decade of the 21st century, it is an opportune time to take stock of real estate markets around the world. Despite the aftershocks of the global financial crisis, most investors have taken advantage of real estate opportunities outside their home markets. At AEW we have been working with international investors for nearly 40 years. In this report, we share our perspective on global investment markets, considering both global trends and occupier market trends.
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White papersWhat Happens After Listed Real Estate Falls?
It has been a month since the high watermark for listed real estate securities and other equities, and a week since the dam broke. Listed real estate has suffered even more than the broad market, especially in the past few days as public life began to shut down in the wake of the COVID-19 outbreak. Hotels are empty, many malls and restaurants are shuttered, and most of us are working out of our homes rather than at our offices. Even after the March 24 rally, both U.S. and global listed real estate markets are down roughly 40% from their February peaks.
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White papersConsumers Are Betting On Herd Immunity
There is much optimism in a rebound in PMIs, but the fear of a second wave is in the back of many minds. Trade deals continue to come about.
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White papersWeekly investment update – 17 June 2020
Emerging market hot spots struggle with virus / worrying trends in US / China fights an outbreak / Fed signals lower for longer despite economic uptick / markets adopt a brighter tone
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White papersPrivate debt can flourish in a crisis - because it can adapt
Private debt’s flexibility to adjust terms and inject capital where needed means it can work with borrowers to get through difficult times, while also securing better returns for investors.
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White papersBig oil – Staring down the barrel of an uncertain future
After three months of convulsions, the global oil industry appears to be stuck between a rock and a hard place when contemplating its future. Oil majors need to decide how best to tackle the factors that are raising an increasingly large question mark over their business model, explains Mark Lewis, Global Head of Sustainability Research at BNP Paribas Asset Management, in a new briefing paper.
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White papersMarket weekly – Factor investing in equities – Lessons from the COVID-19 crisis (podcast)
Our multi-factor equity strategy seeks to tilt portfolios towards value, quality, low volatility and momentum stocks. During the recent rally in developed equity markets, exposures to these factors did not perform as might have been expected. In this week’s podcast, Grégory Taieb, quantitative investment specialist, and Laurent Lagarde, head of quantitative equity portfolio management, talk to Daniel Morris, senior market strategist, about the particularities of the recent rally and the outlook for factor investing in equities.
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White papersThe Great Instability: Five lessons from COVID-19
The Great Instability: this is the label we chose last year to describe the fragile nature of the global economy and wider society, looking at 2020. It’s a label inspired by the contrast with a very different period known as the Great Stability – a dim but not so distant past, in the years leading up to the Great Financial Crisis, when it appeared as if the economy had achieved its state of ‘nirvana’. A global pandemic was not exactly front of mind when we settled on ‘The Great Instability’; still, it fits quite neatly into the overarching concept. After all, the world was already, and will remain, a volatile place.
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White papers5G Dis-Connectivity
Geopolitical and trade tensions may fragment the 5G supply chain, but while that could make the theme more complex to navigate, it is unlikely to diminish its importance.
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White papersMarket Commentary – Financial repression and the sovereign carry trade
Chinese data on Monday may vindicate hopes of a V-shape recovery. Yet we warn against extrapolating 1/ an early bounce driven by pent-up demand and 2/ Chinese trends to the broader economy. The ‘swoosh’ scenario for the global economy remains very credible.
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White papersReal estate outlook – Out of office
The COVID-19 outbreak has forced a revolution in office working in the past 10 weeks, with millions of employees working successfully from home across the world. This has led to competing claims about whether working from home will revolutionise the future organisation of work and change the nature of the office real estate business.
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White papersBeyond the box-ticking: what really makes a board function well?
At the end of April, EOS at Federated Hermes published a white paper ‘Guiding Principles for an Effective Board – Insights from Engagement’. These five principles focus on the human, relational and behavioural aspects of boards, rather than the usual standardised data sets, which don’t tell the full story.
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White papersQuarterly Economic Outlook: we’ve never had it so loose
The US and UK are already running highly negative interest rates, when QE is considered, according to a report by the International business of Federated Hermes. It says that true, QE-adjusted policy rates are now as low as -10% in the US, and -6% in the UK or around -12% and -8% in real (inflation-adjusted) terms.
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White papersCrisis and resilience – Navigating a sustainable recovery
When we emerge from the pandemic, an important issue will be whether the collaboration and focus can be maintained and harnessed to address the climate crisis or other global issues.
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White papersNo Liftoff on the Horizon
The Fed Funds rate is set to remain at its zero-lower bound for several years, while the BOE and BOJ assess current policy next week, and more trade deals appear on the horizon.
