Latest White Papers – Page 66
-
White papersAnticipation to Reality: Credit Markets for European Insurers in 2025
Mapping a way through a year of tight credit spreads and likely regional divergence in policy and growth.
-
White papersLong-Term Equity: A Winner for Insurers?
Lower capital charges on a broader array of long-term equity investments could encourage insurers to reshape their asset allocations.
-
White papersWhen Does the Cutting Cycle Become an Easing Cycle?
Over the past years, the Federal Reserve’s rate-hiking cycle has been unique, marked by looser financial conditions, termed “the hiking cycle that was not a tightening”. Currently, we are witnessing “a cutting cycle that is not an easing“ with financial conditions tightening despite rate cuts, affecting future growth outlooks and posing risks for investors.
-
White papersAre We Any Clearer About Trump 2.0?
Were 26 executive orders enough to convey the new administration’s direction and resolve the uncertainties in our outlook?
-
White papersTechnology sector volatility: Investors spooked by China’s AI startup
Following a period of extraordinary growth the technology sector recently felt the brunt of market volatility on the back of a new, potentially game-changing innovation.
-
White papersSeeking Perspective On DeepSeek
A Chinese AI start-up claimed its large-language model needs far less computing power than established models. What’s it all mean for chipmakers and the broader economy?
-
White papersFixed Income: Be Prepared for Policy-Driven Volatility
In the wake of electoral shifts, policy changes could add to market turbulence, creating new risks but also opportunities.
-
White papersHow has DeepSeek disrupted the AI landscape?
The launch of Chinese start-up DeepSeek’s artificial intelligence model triggered a rout in US technology shares as we entered the final week of January. Nvidia, the chipmaker that has been at the centre of the AI boom in the past couple of years, saw its share price drop around 17%, wiping out approximately US$600 billion in market cap value. Jeffrey Lin, Head of Thematic Technology Equities, and Johnny Hughes, Investment Director, analyse the potential implications of DeepSeek’s achievement for investors and the development of AI, and explore the long-term opportunities from this emerging technology.
-
White papersAsset-Based Lending: Does It Work for Insurers?
Asset-based lending became a key topic in investor discussions last year and looks like the new frontier in private credit—but does it suit insurers’ needs?
-
White papersDiversifying private credit portfolios: beyond traditional metrics
Many recent conversations with LPs have centered around the growing sense of crowding and concentration in the private credit market, prompting a revaluation of exposure and portfolio metrics. With that in mind, we wanted to spend some time this quarter diving deeper into our approach to diversification.
-
White papersH1 2025 Alternative credit insights: Sourcing new pathways
Alternative credit is not a new phenomenon, however, up until the 2008 Global Financial Crisis (GFC), it was largely overlooked by investors. The crash was a catalyst for the market. Banks froze traditional lending options and limited those capabilities due to tighter regulations shortly after. Borrowers had to look elsewhere for financing, opening up the world of alternative credit.
-
White papersNo metals, no transition
Why investors should not overlook the critical metals value chain, a key enabler of the energy transition
-
White papersArtificial intelligence – Still positive after the sell-off
In the week ending 24 January, a previously unknown Chinese start-up presented an artificial intelligence large language model apparently showing a performance comparable to that of the leading US models. The unexpected development could disrupt the paradigm of a quasi-monopolistic position for leading US chip manufacturer. This concern led to a major fall in valuations of some prominent tech companies. Markets have since recovered most of their poise. Here we give our view on these developments.
-
White papersWhy we’re banking on Europe’s value revival
In 2024, European value stocks outperformed the broader market, driven by resilient banks despite political risks and rate cuts. We believe the substantial valuation discount relative to US stocks offers a unique opportunity for value investors, highlighting Europe’s compelling case for substantial returns in a dynamic market.
-
White papersWhat does Trump 2.0 mean for Paris-aligned investing?
US President Donald Trump’s signal to withdraw from the Paris Climate Agreement for a second time is disappointing. The US reached peak greenhouse gas (GHG) emissions in 2007 and has been on a declining path since. While a second Trump administration could be viewed as – and is likely to be – a setback for the global decarbonisation effort, we should remember that this is a four-year election cycle, and the incumbent is now restricted to a single term in the White House.
-
White papersBeyond Consensus: Economic Perspectives for 2025
As we begin 2025, our team of economists in the Capital Strategy Research (CSR) team highlight areas where their outlook is different from consensus.
-
White papersPresident Trump: First week
Following the US elections, the initial market reaction reflected a sense of US exceptionalism, marked by rising equities and a stronger dollar.
-
White papersNotes From the Road: Investor Views at the Start of ‘25
We started this year by engaging in discussions with a large number of CIOs and allocators. In this short note, we reflect on key common messages that came out of those discussions, points of consensus and important open questions for the outlook.
-
White papersNavigating the Tides of Political Transition
As a new administration takes the helm, we believe investors should stay focused on the economic metrics, not political theatrics.
-
White papersA Choppy Start to a Year of Uncertainties
The first two weeks of 2025 perfectly illustrate why we see a wide dispersion of potential outcomes for the year, and advocate staying nimble and diversified.
