Latest Manager Research – Page 4
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White papersMarket Scenarios and Risks - May 2022
We keep the narratives and the probabilities of our central and alternative scenario unchanged versus last month. However, the war in Ukraine could evolve in several ways (see Ukraine crisis tree) with significant implications on economic and financial markets. The new wave of Covid-19 in China is another source of uncertainty over the short-term.
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Q2 2022: A late cycle with a greater focus on inflation
The shift to an inflationary late cycle has been confirmed with greater conviction and a focus on higher inflation (and rates). Economic momentum is still decelerating at a global level but with tentative signs of stabilisation.
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Setting your investment objectives: institutional asset allocation practice
Most institutional investors already have an Investment Policy Statement (IPS) that defines the objectives, investment limits, investment universe and governance of their portfolios. These parameters are not set in stone and must be reviewed periodically given changes in investors’ circumstances, philosophy, long-term expectations and regulations.
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Robust benchmarks needed for infra investors
Performance monitoring is key to achieving top-quartile results, say Frédéric Blanc-Brude, director, and Abhishek Gupta, head of product development, at EDHECinfra
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Blog | U.S. MBS Agency Performance April 2022: Fed Minutes weakened the market
U.S. MBS lagged its respective benchmarks and indices for the month of April, weighed down by talk of Fed MBS bond sales and the more real prospect of Quantitative Tightening.
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Cross Asset Investment Strategy - May 2022
We are witnessing significant divergences in the economic outlook (we have revised down the EU and Chinese economic outlooks vs. the more resilient US economy) and in market performances.
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How asset owners prioritize action on climate change
The renewed momentum amplified at COP26 for a collective effort to avoid a climate catastrophe includes the financial community committing to greater long-term sustainable investment strategies.
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Rising Inflation is Not All Bad News for Profit Margins
Concerns over companies’ profit margins continue to mount as the U.S. economy faces the highest inflation since the 1980s. However, we find that some sectors’ margins actually increase in high inflation.
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An Investor’s Guide to Evolving Supply Chains
Many companies are rethinking supply chains amid disruptions from the war in Ukraine and the pandemic. Equity investors must decipher which companies can adapt their processes to compete in a less globalized world.
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*Investing in Dutch mortgages – As safe as houses*
Dutch mortgage loans have become a cornerstone investment for many institutional investors in recent years. With their attractive risk/return profile and long duration, they can act as an appealing alternative to other high-quality fixed-income products.
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Chemical sector under scrutiny in EOS’s Q1 Public Engagement Report
The Q1 Public Engagement Report from EOS at Federated Hermes takes an in-depth look at the decarbonisation challenges faced by the chemical industry. Plus, protecting digital rights and addressing social injustice.
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Global real estate markets: rich valuations, but not a source of systemic risk
Among the legacies of the Covid-19 crisis, we have – first and foremost – the surfacing of a renewed inflation regime. Signs of this trend emerged in 2021, with price rises not seen for decades across the world. This dynamic has been compounded by the Russia-Ukraine war, which has significantly hiked energy prices and exacerbated pre-existing supply-chain bottlenecks.
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The Fed is on the Clock
While the U.S. headline GDP contracted 1.4% in the first quarter, we still see solid domestic activities in real terms. In particular, the 9% growth in business fixed investments should spur further economic gains in the medium term, and the 2.7% rise in consumer spending shows consumption remains robust. Weaker inventory building and very weak net exports shaved 0.8 and 3.2 ppts from GDP, respectively, but the widening trade deficits are generally to be expected given the U.S. is leading the economic recovery in the current global business cycle.
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Will Inflation Kill Growth?
Inflation is outpacing wages in both Europe and the U.S., households are becoming poorer. How long before they start cutting spending and growth sputters?
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Integrating Climate Risk Into Strategic Asset Allocation
Is your strategic asset allocation process missing climate risks—and foregoing climate opportunities?
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Public Engagement Report Q1 2022
The Public Engagement Report highlights some of the stewardship activities undertaken by EOS at Federated Hermes on behalf of its clients over Q1 2022.
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‘People can focus so much on risk they can overlook opportunities’
Federated Hermes Asia and Emerging Markets Investing Forum in London on 28 April took the pulse of the sector in the face of slowing growth and volatility.
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Alpha Summit GLOBAL
Over three days, Alpha Summit GLOBAL will deliver the one-of-kind experience that only CFA Institute can—with content sessions focusing on the investment industry’s biggest challenges and most compelling trends. From the role of transformational technologies to how capital markets are changing in a post-pandemic world.
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Discovering Stocks for Your Sustainable Investing Goals
Sustainability means different things to different people. So how can an investor know whether a sustainable equity fund is truly aligned with their responsibility ethos and investing goals? Start by asking the following three questions.
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Colliding Demand and Supply Shocks
In this Macro Perspectives, our economists discuss how to best navigate the volatile geopolitical environment’s impact on markets, and how the policy playbook may change based on growth and inflation expectations.
