Content (147)
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White papersBest ideas across asset classes
Stocks have enjoyed a strong rally, but despite (or perhaps because of) recent price increases, we retain an overall neutral view toward global equities. Continued strength in the global economy, and especially remarkable resilience in the U.S., provide a solid foundation for stocks. However, valuations have become stretched thanks to what we believe are overly dovish expectations for interest rate declines and monetary policy.
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White papersThe appeal of private assets in 2024
The macro environment in 2024 will likely spur demand for private assets from all types of investors in our view. In this higher-for-longer environment, private assets could continue to be a compelling source of risk-adjusted returns, income and diversification.
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White papersPortfolio construction themes
Like surfers bobbing in the ocean as they look for the perfect wave, many investors today believe better conditions will come if they just hold out long enough. But delaying too long could mean missing the ride entirely.
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White papersThe economy and markets
The risks of a U.S. and global recession have receded considerably after appearing elevated last year. Despite expectations for a material slowdown in growth over the course of 2023, economic data broadly surprised to the upside. Instead of flatlining, the U.S. economy grew more than 3%, while China expanded by over 5%. Both results outpaced consensus expectations.
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White papersFinancing the energy transition
Energy security and climate change are driving an unparalleled economic shift in the energy sector worldwide, and reshaping the investment landscape for green energy credit as a result.
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White papers2024 2Q outlook: Adapting to high tide
Originally written and recorded by a Jamaican trio in 1967, “The Tide Is High” made its biggest splash with the now-classic 1980 cover version that topped the charts around the world. Thematically simple, the song’s familiar chorus acknowledges challenging circumstances while expressing the narrator’s resilience (“I’m holding on”). It’s an apt soundtrack for today’s investors as they acclimate to a high-tide environment of their own.
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White papers2024 Proxy Season Preview
No right versus wrong assessment can be applied to proxy voting. Assessing how proxy voting supports the overall investment process is what is most important. Rather than seeking to influence vote outcomes, the market should focus on influencing how investors use the proxy vote in the context of the investment objectives it seeks to achieve on behalf of clients.
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White papersResponsible investing 2.0: Focus on generating sustainable returns
When seeking to invest in ways that advance sustainability goals and deliver attractive risk-adjusted returns, it is important to focus on specific investment themes and monitor how those themes impact performance. Our team’s approach offers investors exposure to sustainability related investment themes that we believe will have an enduring impact on financial and investment performance over time.
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White papersPrivate Capital: Four themes for ’24
2023 was characterized by several key themes in the capital markets: the U.S. Federal Reserve’s battle against inflation; the resulting impact on issuers of higher-for-longer interest rates; a much slower pace of merger and acquisition activity as buyers and sellers dealt with mounting borrowing costs, valuation discrepancies and choppier portfolio performance and the steady disintermediation of buyout financings from public to private credit.
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White papersTreasury yields mixed on strong economic data
U.S. Treasury yields were mixed last week and spread sectors outperformed as fourth quarter U.S. GDP exceeded expectations. The market continues to price in a 50% chance of a U.S. Federal Reserve rate cut by March, and around five total cuts for this year.
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White papersBullish on bonds
”This cycle of rate hikes may be over, but we don’t anticipate seeing cuts until closer to midyear.”
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White papers2024 alternative credit insights: Taking center stage
Investors were reminded of the growing importance of alternative credit in portfolios during the interest rate run-up — and accompanying market volatility — that began in early 2022.
