Latest Manager Research – Page 387
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White papersGlobal economies in 2020 and beyond
Over the past decade, major economies have more than recouped the GDP lost during the financial crisis. Yet governments, companies and households have spent more time repairing their balance sheets than spending, while central banks have reverted to the tools that failed them in the past.
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White papersAsia Real Estate Market Outlook - December 2019
Asia Pacific real estate continues to attract strong capital inflows, with returns expected to remain resilient amid more accommodative macro policies and balanced supply and demand. This paper highlights areas of strong potential returns and resilient income, including logistics markets with more sizeable consumer bases, office properties where there is a healthy demand from growth sectors and residential in gateway cities reflecting population growth.
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White papersSeeking protection in mispriced miners
The copper price – a gauge for the wellbeing of the global economy – has defied supply disruptions and remained broadly flat for the past year. Despite this, the credit spreads of several large mining firms are trading at their lowest levels in 12 months, indicating subdued risk. We think that credit markets have failed to account for several risks that miners face – from a weak macroeconomic outlook to environmental, social and governance issues – and we have sought defensive positions within the sector.
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White papersScreen The Euro Fixed Income Market In The Era Of Three ‘Lows’
As 2020 approaches, the uncertainty in the market has receded but there are still risks ahead involving macroeconomic, political and technical factors. Under such a scenario and with central banks being accommodative, we do not envisage a major increase in European core bond yields from their current levels given the limited growth potential and the scarcity of tools left in the ECB’s toolkit to stimulate the economy. Should the economic situation deteriorate, there could be room for yields to fall, but probably not to the lows reached in late August/early September.
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White papersGrowth Near an Inflation Point, Trade Remains a Wild Card
Leading indicators appear to be bottoming out and pointing to economic healing but geopolitical tensions revolving around trade and international security continue to cloud the outlook.
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White papers2020: Risks, Opportunities & Predictions (Part 1/2)
In Part 1 of our 2-part series, Barings’ investment professionals touch on topics from politics to trade wars to economic growth—and offer their perspectives on why EM currencies, international equities and EM local debt might outperform in 2020.
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White papers2020: An Inflection Point for EM Currencies?
With the financial crisis more than a decade behind us, the global financial system seems poised to begin re-leveraging. This process, which would likely take years to play out, would provide a source of funding for EM currencies, and represent a significant tailwind.
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White papers2020: Risks, Opportunities & Predictions (Part 2/2)
Where can investors find late-cycle value in fixed income? Are real estate investors being compensated for risks? In Part 2/2, we hear from Barings’ leaders across high yield and investment grade credit, private credit, private equity and real estate.
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White papersTen Crises We Avoided This Year
It turns out that we are not entirely hostage to immutable economic cycles or raging political intrigue. Sometimes people make good decisions in spite of our expectations. Sometimes, to be honest, we are just plain lucky and the dice land well.
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White papersSimply Put(Writing)
PutWrite strategies can improve the risk-return efficiency, liquidity, flexibility and cost-effectiveness of investor portfolios.
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White papersThe Continued Democratization of Private Equity
Private equity is an asset class that has traditionally been available only to very large, sophisticated institutional investors. But this is changing rapidly—a trend we expect to accelerate in 2020.
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White papersComeback Time for International Equities?
Because the U.S. equity market is broad and deep, there will almost always be opportunities—but in aggregate, we think international equity markets may be more compelling over the next year.
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White papersFear of Fallen Angels May Be Overblown
Many headlines over the last year have called attention to the growth of the lower-rated BBB portion of the investment grade market—and predicted a wave of fallen angels to high yield. But in the last year, we have seen more HY companies upgraded to IG than the other way around.
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White papersEurope’s Time to Shine?
If Brexit headwinds begin to clear, and the German economy sees improvement, it would support the European economy as a whole. At the same time, any weakness in the U.S. dollar could further propel international markets, potentially reversing a decade of underperformance.
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White papers2020: Compelling Opportunities
Barings’ experts across real estate, private equity and fixed income discuss where they expect to see compelling opportunities in the year ahead.
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White papersQuantitative Easing: The End Of The Road For Pension Investors?
Has central banks’ Quantitative Easing (QE) been a blessing or a curse for investors?
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White papers2020: The Road Ahead
From fixed income and equities to real estate and alternatives, Barings’ teams share their predictions for 2020 and views on where the biggest risks and most compelling opportunities may lie.
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White papersA Bright Spot in Higher-Yielding EM Corporate Debt
Many EM regions have been engulfed in uncertainty for weeks or months. While these situations certainly represent risks, we also continue to find value—often in globally diversified companies that have been unfairly punished by markets because of where they’re domiciled.
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White papers2020: Bold Predictions
Will 2020 bring with it the democratization of private equity? A wave of downgrades from investment grade to high yield? Barings’ experts share their bold predictions for the year ahead.
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White papersNet Zero – An Opportunity for Real Estate
In 2019 the UK government announced a target of ‘net zero’ for UK greenhouse gas (GHG) emissions by 2050 following recommendations made by the Committee on Climate Change. This led to a change in legislation that came into force on 27 June 2019, which amended the Climate Change Act 2008 target of an 80% reduction in GHG emissions compared with the 1990 levels. This amendment to the Climate Change Act made the UK the first member of the G7 group of industrialised nations to legislate for ‘net zero’ carbon emissions.
