Latest Manager Research – Page 431
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White papersEmerging Markets, Emerging Political Change
A lot of positive political change isn’t reflected in emerging market asset prices. EM investors still demand extra return for political risk even though that risk is going down in some countries—and opportunities are increasing.
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White papersCross road: the landscape of the fixed-income market
Two events pushed down Eurozone sovereign spreads in 2017: the French presidential election in April & May, which dissipated investors’ fears about Eurosceptic movements, and the announcement on 26 October of a smaller-than-expected reduction in ECB’s QE for 2018 (monthly purchases lowered from € 60 bn to €30bn).
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White papersRethinking fixed income investing when the easy money is coming to an end
Core fixed income allocation, usually comprising high-quality government and corporate bonds, has played a relevant role in diversified portfolios over the last few decades.
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White papersMeet the Manager: Andrew Chin
AB’s Chief Risk Officer and Head of Quantitative Research shares his perspectives on the research behind the development of prime alpha.
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White papersFed vs. ECB. Towards a stronger decoupling of monetary policies?
US and European economies both continue to expand but at different paces. While US growth will likely pick up this year, boosted by an expansionist fiscal policy, the Eurozone cycle probably peaked last year.
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White papersYesterday, bonds were such an easy game to play…
…but now we are back to worrying about inflation, recession and things that tweet in the night.
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White papersThe inflation pendulum
It’s not good to have too much or too little inflation, but trying to get a huge pendulum the size of the US economy to settle in the middle is very difficult.
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White papersThe employment enigma: why is there no inflation?
After years of monetary stimulus, zero interest rates and quantitative easing, the global economy is now experiencing strong, synchronised growth.
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White papersClimbing the wall of worry: why this is the most miserable bull market we’ve ever had
We are nine years into the equities bull market, in what has been a remarkable period for investors.
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White papersImpact investing through sustainable financing: integrating ESG into real asset debt strategies
With more than 15 years’ experience of integrating environmental, social and governance (‘ESG’) analysis into listed asset investments, BNP Paribas Asset Management (‘BNPP AM’) has extended its approach to the real asset financing strategies launched last year by its Private Debt & Real As- sets investment group.
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White papersCross Asset Investment Strategy: May 2018
While in 2017 financial markets largely ignored geopolitical risks, as they were more inclined to read the Goldilocks narrative, this mood now appears to be changing.
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White papersGold: At the Crossroads of Fiscal and Monetary Policies
Gold has shown a lack of direction amid the push-pull effects of fiscal and monetary policies.
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White papersRising Rates Survival Guide
Looking for new sources of income and diversification will be crucial to dealing with the challenges of rising interest rates and inflation.
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White papersRussia: the fundamental story is intact, sanctions pose downside risks
The outlook for the Russian economy is positive, supported by expansive monetary policy, robust global trade and increasing oil price, even though the current context has deteriorated on the back of the last round of sanctions.
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White papersEconomic Insights: April 2018
What happens after a crisis? A return to normal. The world economic expansion, now two years old, remains intact, albeit with modest deceleration outside the United States.
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White papersResponsible investing’s ‘Big Bang’ has lost none of its spark
The COP21 Paris Conference in 2015 was undoubtedly climate change’s ‘big bang’, but nevertheless a certain amount of scepticism greeted the legislation. After all, many had questions about how forms would integrate environmental, social and govern- ance (ESG) criteria into traditional asset manage- ment models.
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White papersFrom uncertainty emerges the value-add opportunity
2017 saw investment volumes in the UK commercial property market rise by over 10% on the previous year. Much of this was helped by overseas buyers and a weak Sterling, which remained 10% on average below pre-referendum lev- els. Whilst an improvement on a subdued 2016, the year of the EU referendum, transaction activity was notably still nearly 30% down versus its 2015 peak, reflecting Brexit-related macro uncertainty. Underneath the 2017 headline figures, non-currency driven activity was also relatively quiet.
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White papersThe ABCs of Asia Pacific real estate
In a recent meeting that I attended, a sophisticated investor lamented the fact that real estate has increasingly become commoditised and institutionalised as a financial product. In his view, the typical investor in recent times has begun to allow short-term financial dynamics to affect long-term investment decisions and outcomes, and that fundamentally alters the capacity to ride through cycles and generate favourable risk-adjusted returns.
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White papersCarbon Footprints: Where do they lead?
The world is changing. Investors can no longer look to existing strategies and indexes – clearly representative of the “old” economy – to be sufficient during the current transition towards the “new”. This is especially true regarding environmental issues in light of the Paris Agreement, the recent UN Sustainable Development Goals becoming standard for investment strategy assessments, and increasing public and regulatory pressure.
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White papersHow index investors can change the future
There are multiple ways for ‘tracker’ funds to help foster better financial and societal outcomes, says Meryam Omi, Head of Sustainability and Responsible Investment Strategy at Legal & General Investment Management (LGIM)
