Latest Manager Research – Page 160
-
White papersEuropean Logistics Reaching a Turning Point
The ECB has signaled a 25-50 bps rate hike in July and September as on the back of the on-going Ukraine conflict, inflation has continued to move up. Depending on the country, European government bonds have spiked by 100-200 bps over the last three months. These higher bond yields will impact on logistics markets as measured by our new Jun-22 base case and downside scenarios.
-
White papersReal Estate Outlook – US, Edition 2 - 2022
Growing economic uncertainty based on weaker consumer sentiment and inflation concerns increases the importance of focusing on durable income growth across real estate sectors, metros, and product types. Continued strong industrial and apartment return performance is anticipated, but at a lower margin than 2021, given interest rate pressures. We expect a deteriorating performance for office and a gradual strengthening in retail performance through 2022.
-
White papersInvestment Landscape - Americas
We began this year with the expectation that the world and real estate markets would normalize, on the back of a more controlled pandemic and the reopening of most economies and markets. Little did we know that the first quarter would welcome us with a war in Eastern Europe, rising inflation, increased cost of debt and the prospects of a recession looming in the United States.
-
White papers2022 Midyear Outlook - Long-term perspective on markets and economies
We are living through a pivotal time in history, marked by geopolitical realignment, high inflation, volatile financial markets and the end of a 40-year period of declining interest rates. The title of this new era could be Brave New World or Back to the Future. But the title I would select is Revenge of the Boomers, because a lot of these events are rhyming with the past, particularly the early 1960s.
-
White papersWhat is the impact of Covid and the Ukraine crisis on fiscal policy?
The past two years have brought not one but two generation-defining events – Covid and the war in Ukraine. Together, they will leave a far-reaching economic and societal legacies.
-
White papersWith inflation on the rise, what is the long-term economic impact?
Inflation’s resurgence during the past year has awakened fears that the global economy has returned to the 1970s – a period when growth stagnated and central banks lost control of price stability. That’s too pessimistic a view.
-
White papersWhat will drive financial markets over the next five years?
Dividing a portfolio’s investments more or less evenly between developed market stocks and bonds has proved a rewarding strategy over the past few decades. The annualised return investors have secured by pursuing this approach has been in the high single digits – gains that have come courtesy of steady economic growth, an almost continuous fall in interest rates and inflation, and relatively calm financial market conditions.
-
White papersNCREIF review and outlook: Q1 2022
Stellar private real estate returns continue; but poised to decelerate
-
White papersResponsible Investment Quarterly - Q1 2022
Welcome to the newly designed Responsible Investment Quarterly. Over a number of years we have developed the publication to showcase Columbia Threadneedle Investment’s responsible investment (RI) capabilities across Europe, Asia and the US. In this new incarnation we wanted to focus more on the RI research embedded within our investment process, and how it supports and furthers our investment approach across the globe.
-
White papersFocus on Spain: macroeconomic projections and fixed income view
Under our scenario and assumptions, Spanish GDP is projected to grow at 4.2% in 2022, moving below 2% in 2023, significantly below Banco de España projections for 2023 and 2024 at 2.8% and 2.6%, respectively, as we expect the current environment of higher energy and gas prices and high inflation to negatively affect consumers, companies and activity.
-
White papersMacroeconomic projections for the Italian economy and fixed income implications
Amid the cost of living crisis, ongoing since last autumn, Italy saw unexpected resilience in Q1 as the initial GDP growth estimate of -0.2% was revised up to 0.1% QoQ. However, there was no good news on domestic demand: a 0.8% QoQ contraction in household consumption does not bode well for the future, as consumer confidence declined further during Q2.
-
White papersOptimising the core – how insurers can enhance fixed income portfolios
Insurers are increasingly looking to broaden their staple diets of traditional fixed income and introduce exotic flavours of credit to the core investment portfolio in order to satisfy their appetite for higher risk-adjusted returns, diversification of risk and greater capital efficiency.
-
White papersUsing AI to find the best locations for urban logistics hubs
The ongoing repercussions of COVID-19 have dealt a cruel blow to many market sectors, but some are benefitting. E-commerce is one clear winner.
-
White papersDid You Miss the Commodity Boom?
Commodity prices are up substantially this year, but we believe structural supply and demand imbalances mean we are still in the early innings of this cycle.
-
White papersWhat links impact investing and private equity?
In impact investing, investments can contribute to a measurable positive social and/or environmental impact alongside earning financial returns. In our view, impact investing strategies work particularly well in private equity.
-
White papers*Private market assets: the new funding stream that’s here to stay*
Private market assets have transformed the investment landscape in the 14 years since the global financial crisis.
-
White papersFighting inflation: What the latest Fed move means for investors
The first month of summer came in hotter than expected. Data released in June showed that annual headline CPI inflation—previously thought to be cooling—had touched a new 40-year high.
-
White papersAfter the Revaluation, the Slowdown
Our Asset Allocation Committee believes that, whether we enter a recession or not, the expected slowdown and ongoing market volatility could feel like one for investors.
-
White papersLife Science in Germany
It is now time to provide a detailed analysis of the real estate sector for life sciences companies. This market segment is attracting everincreasing interest from property developers, investors and financiers. It comes as no surprise that medical technology, pharmaceuticals and biotech companies have gained significant prominence over the last two years in view of their huge contribution to the control of the Covid-19 pandemic.
-
White papersCash dethroned: reallocation opportunities for insurers under Solvency II
‘Cash is king’ remains at the forefront of many defensive allocations for insurers operating under Solvency II. However, ultra-low cash rates, rising short-term bond yields and inflation are all a material drag on portfolio returns. We believe it is possible for these insurers to reallocate a strategic part of their cash holdings to potentially higher-yielding, liquid, defensive assets without incurring excessive risks or capital costs.
