Latest Manager Research – Page 276
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White papersAnything But 20-20 Vision…
Advanced estimates show easing of COVID restrictions led U.S. GDP to soar as second waves have hit Europe and new government restrictions are being implemented. U.S. Election Day is Tuesday; watch Florida, Arizona, and North Carolina—key swing states that may indicate the winner.
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White papersReal Estate Debt: Europe’s Developing Opportunity
Barings Real Estate’s Sam Mellor describes the trends underpinning the structural growth of real estate debt in Europe, and compares and contrasts the asset class with other public and private fixed income alternatives.
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White papersWhy Tech Bubble Fears are Overdone
The tech sector’s impressive performance and increasing concentration in indexes has led to concerns of expensive valuations—with some fearing that we could be in bubble territory. In our view, such worries are not justified, and we believe tech’s outlook remains healthy.
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White papersOutlook Upgraded, But Still Not in First Class…
The IMF upgraded their 2020 growth outlook due to better-than-anticipated U.S. and euro area 2Q20 GDP, but noted a long and uneven recovery. Global flash PMIs will likely show differentiation by region next week, and Brexit negotiations are expected to continue into November.
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White papersReal assets and net zero: Now for the hard part
There is no lack of willingness among investors in real assets to play their part in helping countries reach net zero by 2050. But much needs to change – and quickly, as Laurence Monnier explains.
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White papersFrom Buddha to Bagehot: how global banks are keeping the liquidity flowing
In previous editions, we have explored asset quality, the value of collateral and capital. This time, Fiorino turns his attention to another core concept of banking – liquidity – and considers how banks are keeping it plentiful amid the coronavirus-induced freeze.
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White papersGlobal Investment Views - November 2020
Developments on the virus and vaccine front and the US election are hot topics. Markets are pricing in a glass-half-full scenario, despite the still-alarming infection numbers on the virus front (second wave in Europe and record new cases globally). The interconnection of the three cycles — virus, real economy and financial — continues, but the virus transmission mechanism is changing.
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White papersBiodiversity in focus in EOS’s Q3 Public Engagement Report
The Q3 Public Engagement Report from EOS at Federated Hermes focuses on three of its expanding engagement themes for 2020 – biodiversity and sustainable land use, fast fashion, and business purpose – all issues brought to the fore by the pandemic.
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White papersThe “Not Quite” Recovery Meets the Second Wave
The recovery this summer was vibrant. Cheap credit and accumulated savings were used to satisfy pent-up demand, resulting in strong activity. U.S. consumers are showing up; the EU governments keep having the economy’s back; and in Asia, economies are full steam ahead.
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White papersFrom Drought to Deluge (Chapter 6 of 6)
On August 25, 2017, Hurricane Harvey made landfall on the US coast just south of Houston, Texas. After pushing inland, the storm ran against a ridge of high pressure, blocking its forward movement. As most tropical cyclones do, the storm carried with it a prodigious amount of moisture.
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White papersWater Markets Are Key to Properly Valuing Water (Chapter 5 of 6)
Obviously, Adam Smith didn’t know about climate change when he wrote about water’s value in exchange—if only he could see us now! What he did get right was that the value of any good is very much based on the value of exchange. When Smith was writing his magnum opus that formed the basis of free market capitalism, water was an abundant resource in many places.
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White papersThe Future is Here (Chapter 4 of 6)
Climate change is often discussed as something occurring in a distant future—an event we have time to prepare for and perhaps even prevent if we course correct. The future is already here in western North America. Over the last two decades, climate change and a megadrought have wrought havoc on the region’s most vital water supply, the Colorado River.
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White papersDirectly Engaging To Understand Water Risk - (Chapter 3 of 6)
We’ll now focus on risk and use fixed income investing as our lens. Firms with water intensive business operations and those operating in areas of water stress—where water withdrawals are high relative to supply—face the risk of having to pay higher water prices or losing access to water supply.
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White papersWater-related Risks in Equities (Chapter 2 of 6)
Water risk impacts investors’ equity holdings in two simple, yet key, ways: decreased revenues and increased costs. These risks manifest operationally, potentially impacting or preventing a company’s day-to-day operations, and through the company’s understanding and management of risk via its water and wastewater management plans.
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White papersVideo: Why investors are turning to private assets amid uncertainty
In this video Georg Wunderlin and Johanna Kyrklund discuss the key challenges and benefits of using private assets, as identified by Schroders’ Institutional Investor Study.
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White papersWater Disruption: Investment Risk From Multiple Angles (Chapter 1 of 6)
(Chapter 1 of 6) Before the well runs dry: The time for investors to understand water risk is now.
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White papersRace, ethnicity and investing: Practice what you preach
In the second article in our series on racism, we explain why asset managers need to get their own house in order to be a credible agent for change at the companies they invest in.
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White papersRace, ethnicity and investing: A time for action
In the first of a two-part series on anti-black racism, we look at five areas asset managers need to focus on if their engagement efforts are to make a positive difference.
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White papersLiquidity trends in the wake of Covid-19: implications for portfolio construction
The Covid-19 crisis has triggered the deepest liquidity squeeze since 2008. Unlike the Great Financial Crisis (GFC), an unprecedented real economy shock led to extremely quick deterioration of financial conditions and showed that, under extreme circumstances, liquidity may dry up not only within risk assets, but also within risk free ones.
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White papersElection countdown: A Trump opening after the final Presidential debate?
President Donald Trump and Former Vice President Joe Biden met in Nashville, Tennessee on Thursday 23 October for the final presidential debate. This is an important milestone in the campaign, and early indications the morning after the debate are that while both camps felt proud of their performance, it may persuade some undecided and GOP-leaning independent voters back to the Trump fold.
