Latest Manager Research – Page 353
-
White papersRising U.S. farm debt and the implications for farmland investors
Three consecutive years of disappointing commodity prices has led to farmer incomes decreasing year after year. Low prices for soybeans, corn, milk and beef have reduced the level of farm income and 2019 is not expected to provide a deviation from this trend.
-
White papersThe impact of African Swine Fever on the agricultural industry: a complex puzzle
The outbreak of African Swine Fever (ASF) in China is making headlines as it impacts the biggest pork market in the world. Industry experts consider this a ‘transformational event’ for the global pork sector that is ‘creating a devastating effect.
-
White papersNuveen knows: alternatives
Beyond diversification: a geographical focus on farmland and real estate
-
White papersDistressed Debt: How This Cycle May Be Different
Barings’ Stuart Mathieson and Bryan High discuss the outlook and competitive landscape for distressed debt and consider the implications of the significant growth in private credit and European high yield since the last cycle.
-
White papersSix reasons global cities could save the world
Far from being a contributor to climate change, cities may actually provide the solution to tackling the world’s most pressing issue.
-
White papersOn my mind: Yield curve hysteria
The inversion of the Treasury yield curve has recently gotten a lot of attention in the financial press as being a harbinger of economic malaise ahead.
-
White papersWhat do negative interest rates mean for investors?
With interest rates falling sharply, even more sectors of the global bond market are trading in negative territory. We explain what this means for investors, offer perspective on where markets may be headed and suggest strategies to position portfolios to preserve income and protect against losses.
-
White papersSlower Global Growth a Rising Concern
Where is the global economy headed? Allocation Views discusses trade tensions and thoughts on allocation settings.
-
White papersDoes Sustainable Investing Constrain a Portfolio?
Sustainable investing is often misunderstood. Many investors think a sustainable agenda limits a portfolio to a narrow piece of the market. In fact, plenty of stocks can help investors create social benefits while generating strong returns—if you know how to find them.
-
White papersU.S. Loans: Challenged Market or Veiled Opportunity?
With loan and bond yields currently comparable, we believe—in a somewhat contrarian view to the market—there is a good argument for investing in loans, particularly in the U.S., where the economy appears to be marginally stronger than in Europe.
-
White papersRussian ecommerce: a moonshot moment?
During a recent research trip to Russia, we confirmed our view that the nation’s ecommerce industry is a rare gem within the troubled wider economy. As Russia’s economic growth flags and protests become more frequent, we consider whether President Vladimir Putin’s ambitious “National Projects” spending program will manage to boost innovation – particularly in digitisation – and inject life into the Russian economy.
-
White papersTrade Tensions Flare: Where Do We Go from Here?
Central bank actions and new trade tensions have created more questions than answers.
-
White papersWill trade tensions reshape the world order?
The protectionist wave will almost certainly have a chilling effect on the global economy. But trade growth was slowing well before the US-China spat. In the latest Ahead of the Curve, we assess whether the tariff war is disruptive or merely accelerating trends already underway. And will we find opportunities in this fragmented global system, or only challenges?
-
White papersTime is running out to solve China’s debt bubble
Many investors are focused on the outlook for trade talks with the US, fearing an all-out trade war which would negatively impact global, and especially Chinese, equity markets. But investors underestimate the mounting problems caused by the recent rapid expansion of credit in China. Only radical solutions now remain to resolve the country’s growing credit bubble, says Paul Smillie.
-
White papersHow Global Investment Grade Can Help Pension Schemes Deliver Their Promises
With many defined pension schemes in negative cashflow, interest in cashflow-driven investing (CDI) is increasing. We believe the $11.3 trillion global investment grade credit universe offers the best means of maximising potential returns from a core CDI strategy. Moreover, advances in technology allow us to build portfolios more quickly, optimising returns and limiting risk.
-
White papersFlashforward: Drawing Parallels With 1999/2000
Investors in the UK and overseas are adopting extreme positioning in their hunt for defensive growth. In doing so the elastic has become very stretched and a sharp rotation could be overdue. This market dynamic is reminiscent of 1999/2000 whereby ‘old economy’ stocks are discarded in favour of ‘new economy’ ones.
-
White papersHalf-time: Europe ex-UK outperforms in H1
After a difficult end to 2018, European equity markets have powered back over the first six months of this year, buoyed by the dovish pivots of central banks. Against this backdrop, we ask: how has our Europe ex-UK fund fared so far this year, and what can we expect for the rest of 2019?
-
White papersChina’s Currency Weakness: Not as Bad as it Seems—Yet
China’s currency depreciated this week, with the exchange rate rising to more than 7.0 renminbi per US dollar, unnerving investors and markets worldwide. Here’s the good news: we don’t think the renminbi will continue to weaken at the same pace.
-
White papersHermes Impact Report, Q2 2019
The Sustainable Development Goals (SDGs) were created from a development rather than investment perspective. However, believing they can be a powerful way of identifying impact companies, we created the Hermes SDG Taxonomy earlier this year to clearly demonstrate connections between the goals and investment opportunities.
-
White papersPick a Number, Any Number
Among Three Central Rate Forecasts, The Middle Still Feels Right.
