Latest Manager Research – Page 40
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White papersQ2 Pension Funding Status
MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc., estimates that, as of June 30, 2025, the average U.S. corporate pension funded status rose to 105.1%. This was up 2.1% from 103.0% as of March 31. MIM manages approximately $600 billion in total assets under management, including over $30 billion of long duration and liability driven investments.
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White papersPrivate Markets Investment Outlook Q3 2025: How to navigate uncertainty
Amid persistent uncertainty related to ongoing trade and geopolitical tensions, the return and resilience potential of private markets, driven by a combination of structural and cyclical factors, has arguably never been more valuable for investors – but selectivity and diversification remain key.
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White papersWhy UBS Core Fixed Income ETFs for today’s market?
UBS Core Fixed Income ETFs offer yield, flexibility, and clarity – key traits for navigating today’s complex market landscape.
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White papersUK policy warms on private capital
Government commits to evolve infrastructure finance models
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White papersUS tariffs delayed to August
“The ongoing tariff-related uncertainty points to the transactional and unilateral approach of the United States that can complicate matters for policymakers around the world.”
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White papersStocks and bonds rally despite trade turmoil: Q2 roundup
Global stocks advanced in a volatile quarter marked by erratic trade policy, surging technology stocks and a ceasefire in the Iran-Israel war. The quarter opened with a wave of new U.S. tariffs, sending stocks sharply lower, and ended with a powerful rally as some levies were paused and global trade negotiations progressed.
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White papersCRE total returns rise in 2Q25
Commercial real estate total returns rose 1.03% in Q2 2025, marking a fourth straight quarterly gain driven by stable income returns and signaling the market’s strongest position in three years.
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White papersHow private credit is proving its worth in a volatile environment
Geopolitical events and macro uncertainty are creating challenges for income investors. But with many different assets to choose from, how could private credit offer the flexibility and diversification benefits they seek?
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White papersThe “One Big Beautiful Bill Act” and implications for commercial real estate
The “One Big Beautiful Bill Act” (OBBA), which was signed into law on July 4, 2025, preserves and, in many cases, strengthens the tax advantages of owning U.S. commercial real estate (CRE), both equity and debt. These provisions have the combined impact of lowering taxable income while increasing cash on cash returns and net operating cash flow. Additionally, section 899 (which was expected to have negative implications for foreign investment in the U.S., given its retaliatory tax measures) was removed from the final bill. Bottom line, the final bill is widely viewed to have net positive implications for the U.S. commercial real estate market.
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White papersClear skies ahead: Japan’s structural renaissance
Japan is undergoing a transformative moment that positions it as one of today’s most compelling investment opportunities. The temporary nature of trade tensions stands in contrast with a powerful combination of strong domestic-led growth and sweeping corporate governance reforms that are reshaping the economy. With valuations sitting well below both historical averages and global peers, investors now have a rare opportunity to invest in Japan’s structural transformation.
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White papersScenarios for a fragmented world
The world is at a geopolitical crossroads, as one of the major pillars of the existing global order—the United States—has begun to question the foundational assumptions of that system. Although the global order began to unravel following the 2008 financial crisis, successive US administrations—including President Biden’s—sought to uphold the existing framework through traditional alliances.
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White papersWhy the dollar deserves more credit
In a recent paper, we argued that sustained weakness in the US dollar would require clear evidence of narrowing real interest rate or growth differentials between the US and its major trading partners—conditions that have yet to fully materialise. Since then, the narrative around the weak dollar has continued to gain traction, but much of the perceived dollar weakness is actually a reflection of euro strength, which may now be overextended.
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White papersThe new architecture of institutional credit
Institutional credit investing is being reshaped by shifting liquidity dynamics, borrower behaviours, regulatory pressures and the blurring of public and private markets. These changes are ushering in a new era of investment expansion and vehicle innovation. Learn how institutions are moving beyond isolated sleeves to leverage opportunities across structures, teams and strategies.
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White papersShaken, but not stirred
The U.S. economy remains resilient but is gradually losing momentum, while policy uncertainty continues to cloud the global outlook. Selective opportunities are emerging in fixed income, private markets, and high-quality equities supported by solid fundamentals.
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White papersChicago Multifamily: Fundamentals Outpacing Perceptions
Nationally, commercial real estate total returns declined by an average of 3.4% annually from the 2022 peak through 1Q 2025 (Exhibit 1), primarily due to the Federal Reserve’s rate hikes. While these macro headwinds have affected all markets, our attention is now shifting to local supply-and-demand fundamentals, which will increasingly determine performance. In this context, Chicago’s multifamily sector stands out: After years of underperformance, it now appears poised to close — and potentially reverse — its valuation gap relative to peers.
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White papersFive insights on what is driving innovation in China
From electric cars to artificial intelligence, Chinese companies continue to innovate and scale at a rapid pace despite trade restrictions.
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White papersWhy should investors consider sustainability in CDI?
Whilst institutional investors may have a sustainability approach for their core fixed income portfolio, reflecting it within a cashflow driven investment strategy (CDI) is still a growing concept. CDI strategies are designed to provide a regular income stream from bond coupons and maturities to help address a pension fund’s income requirements. Given their long-term nature and broad fixed income allocation, they are well placed to reflect outcomes beyond that of income requirements.
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White papersWhy are credit spreads so tight?
1) Liquidity: This is the overriding factor, which is normally the case in markets. It is no surprise that markets are rallying like it’s QE, because this is QE! The Treasury General Account (TGA) has been run-off to the tune of c$500bn over the last few months driven by the U.S. hitting the debt ceiling. When this happens, the country is unable to raise enough debt to fund itself.
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White papersGlobal Real Estate Outlook Mid-Year 2025: Opportunity amidst uncertainty
We are living through a period of unprecedented change, where accepted norms are challenged and new opportunities (and risks) continue to arise. A key question for investors is how to distinguish between cyclical signals, structural trends and short-term noise. Our mid-year Global Real Estate Outlook 2025, featuring top sector and market picks, is designed to support this balance, helping investors to walk the fine line between caution and opportunity.
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White papersThe case for investing in Saudi Arabia
Saudi Arabia is rapidly evolving into a dynamic and diversified economy, benefiting from strong reform momentum, favorable demographics, rising foreign direct investment, and a government committed to diversifying the economy. Today, Saudi Arabia presents a differentiated and compelling investment opportunity for global investors seeking higher income and diversification.
