Latest Manager Research – Page 351
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White papersA 360° view of global real estate
Access the full spectrum of today’s commercial real estate investment opportunities with Principal Real Estate Investors. We provide the reach, research, and returns you need to meet your investment goals.
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White papersDiscovering Value In Climate Change Investing
Integrating six climate considerations with impact on long-term business performance into an investment process.
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White papersWill electric cars create shocking losses or supercharge profits?
Many investors are worried that the switch to electric could hurt the profits of car-makers. Few have considered how the industry may stand to benefit.
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White papersRetail disrupted – taking stock of the retail sector
Retail real estate is undergoing a transformation led by the rise of e-commerce. Store closures and bankruptcies are commonplace.
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White papersConsiderations for investing in global real estate
Many investors are familiar with the appeal of holding real estate. With a generally low correlation to other asset classes, it can serve as an instant diversifier in a mixed-asset portfolio. Historically, real estate has delivered strong relative performance across multiple cycles compared to other asset classes, and its characteristic stable income, underpinned by long-term leases, makes it a compelling alternative to traditional fixed-income instruments. Participation in real estate from the investor community is one of the highest among the various alternatives asset classes, and is expected to grow in importance in portfolio allocations moving forward.
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White papersA case for co-living
Seemingly no real estate sector is immune to the influences of the Millennial and Generation Z cohorts. Retail has been upended by the disruption caused by e-commerce, driven by these generations’ aptitude and proclivity towards technology. Logistics networks have moved closer to them, making delivery faster. Traditional office demand has been disrupted by the acceleration of co-working, as more companies embrace greater locational flexibility to appeal to younger workers.
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White papersDistressed Debt: Seeking Opportunity in Choppy Waters
Investors are increasingly looking to distressed debt as the credit cycle matures. But with a competitive landscape and significant growth in private credit and European high yield, this cycle could look different than those of the past. Stuart Mathieson, Head of Barings’ Global Special Situations group, and Bryan High, Co-Portfolio Manager of the strategy, discuss how the macro environment is impacting their outlook, and where they’re seeing opportunities today.
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White papersA compelling case for real estate development
In a world fueled by easy monetary policy, commercial real estate has held its own compared with other asset classes.
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White papers
Fed And Ecb, Bridging From A “Mid-Cycle Adjustment” To An “Impactful And Significant” Package.
The minutes from the latest ECB meeting suggest that the ECB is likely to proceed with a full set of measures in September, confirming not only the indications from President Draghi following the meeting but also the very latest statements by Olly Rehn, calling for the need for an “impactful and significant” package.
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White papersDo Universal Owners Vote To Curb Negative Corporate Externalities? An Empirical Analysis Of Shareholder Meetings
This paper tests whether very diversified and patient investors, also known as universal owners, tend to vote in favor of shareholder resolutions instructing corporations to reduce or communicate on the negative externalities they produce.
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White papersHow long will you live and what does it mean for your investments?
Latest life expectancy data shows that your money will need to last a lot longer than you might be thinking.
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White papersUK Real Estate Outlook - Edition 2H19
As the retail correction has fully taken hold, total returns from UK commercial property have slowed markedly delivering just 0.85% in 1H19, based on the quarterly MSCI Index. Outside the retail sector, occupational markets are generally holding up quite well, however investment markets remain very subdued as political uncertainty deters activity. We may see a bounce-back in investor demand should a deal be reached with the EU, but the recent change of Prime Minister and confrontational rhetoric which followed has made that outcome increasingly unlikely.
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White papersFive charts that will make you think differently about retirement
Retiring at 60 is a relatively new concept, and possibly a short-lived one in our history. As populations age – and age better – people are looking at a host of ways to stay in work and sustain their retirement income. We present five charts that sum up the changing landscape.
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White papersItalian politics take centre stage
The Deputy PM Matteo Salvini recently withdrew his party’s support to the coalition government headed by PM Giuseppe Conte, calling for a vote of no-confidence against the PM and subsequent snap elections. On the 20th of August, after addressing the Senate, PM Conte resigned. President Sergio Mattarella will now weigh three options – consult political parties to form a new government (with the same forces of the current coalition or new ones), appoint a caretaker government or call for fresh elections.
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White papersArgentina: how recent events shape the investment outlook
Recent update on Argentina: Government’s decision to freeze energy prices and suspend VAT on certain products will complicate fiscal metrics. The country is likely to miss the IMF target of a primary balance for 2019. However, the IMF could disburse the September tranche of financial assistance, although conviction levels are low.
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White papersArgentina: election surprise amplifies market and political risks
Argentina’s primary elections: Opposition candidate Alberto Fernandez won by largerthan-expected margin against President Macri. At this point, markets price in Fernandez’s victory in October elections.
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White papersUS-China Trade War: Walking a Tightrope
Donald Trump proposed additional 10% tariffs on a further US$300 billion worth of Chinese imports from 1 September. This is surprising, given that the two countries appeared to have found some common ground at the G20 meeting in June. However, the truce was short-lived and China responded with its own set of measures in form of a suspension of US agricultural imports and currency devaluation, which could further escalate the situation.
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White papersAsset Class Return Forecasts - Q3 - 2019
We expect economic growth to evolve around potential for most developed economies in 2020. It could subsequently decrease below potential in 2021 driven by a deteriorating cyclical environment and still anaemic global trade. Nevertheless, growth should stay in positive territory.
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White papersEmerging Markets Charts & Views - Q3 2019
The recent dovishness from the Fed, a benign inflation environment and the easing in global financial conditions continue to support a goldilocks environment for Emerging Markets (EM) assets. On the risks side, trade disputes appear to be softening as we approach the US presidential campaign. But the existing tariffs are weighing on the corporate earnings, with mixed prospects across regions as some countries are also benefitting from a restructuring of the global supply chain.
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White papersGlobal Asset Class Spotlights - Top Down Quaterly Assessment
Central banks seems to be very concerned about the slowdown in the economic cycle sparked by trade tensions. As a consequence, they have been intensifying their communications about their willingness to act.
