All Risk Management articles
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White papersSystematic fixed income: Bringing diversification benefits to credit portfolios
Systematic credit is still a small part of fixed income, but its portfolio role is growing. For credit allocators, it can offer a disciplined and differentiated source of diversification.
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White papersThe ECB raises policy rates
“The ECB opens a period of central bank meetings. The balance is shifting further towards the risk that inflation proves more persistent than expected, given the recent rise in energy prices amid geopolitical tensions.”
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White papersResearch spotlight on AI
As the artificial intelligence (Al) boom reshapes many parts of the investment landscape, it features prominently in many aspects of our ongoing research. Below, we showcase some of our latest Al-related thinking.
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BlogA warming planet hits our economy harder than a blocked strait
Tensions around the Strait of Hormuz dominate headlines, particularly the economic impact. European Commission (EC) analysis forecasts oil and gas prices will still be 20% higher by the end of 2027.
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White papersBond yields on the rise again
“Bond markets are under pressure now, but as yields rise, opportunities for investors to benefit from higher income are opening.”
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White papersNeuberger Private Markets: Q2 2026 Preliminary Valuation Summary & Analysis
Doug Manor, Managing Director, Neuberger Private Markets, provides an overview of private equity markets and an outlook based on trends in the marketplace.
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White papersFrance’s fiscal policy in focus
We expect France’s GDP to grow by 0.6% in 2026 and around 1.0% in 2027, in line with Eurozone growth. While higher inflation and elevated policy uncertainty, both domestic and external, are likely to weigh on demand in 2026, the economy should retain some underlying resilience, helped by a gradual recovery in private domestic demand, particularly household consumption and business investment moving into 2027.
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PodcastOuterblue Talks Research - The Lifecycle Remix - How the Glidepath Fits into Retirement Solutions
Retirement investing is changing as individuals take on more responsibility for their long-term outcomes, especially in defined contribution pension plans and personal savings. In this episode of Outerblue Talks Research, host Swaha Pattanaik speaks with Dominic Byrne, Global Head of Retirement Solutions at Amundi, about how lifecycle investing is evolving to include glidepath strategies.
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White papersWhy an absolute return approach to fixed income could help investors navigate uncertainty
Fixed income investors have faced considerable volatility in markets in 2026, driven by a combination of geopolitical tensions, rising inflation and higher levels of issuance.
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White papersManaging private asset allocations in open-ended funds Gilles-David
With their potential to enhance returns, diversify portfolios and capture an illiquidity premium, private assets have become increasingly attractive to institutional investors. Yet integrating private equity and private debt into open-ended funds available to retail clients remains far from straightforward. Even though a fund may offer investors periodic subscriptions and redemptions, the underlying private assets generate cash only gradually and with uncertain frequency. They also require liquidity to meet unpredictable capital calls.
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White papersCapturing the Energy Opportunity Downstream
Crude looks well supplied—but the fuels we actually burn tell a different story. Diesel, gasoline and jet fuel inventories remain near 2022-crisis lows, as disruptions to Hormuz shipping, Russian refining and Middle East exports keep the squeeze downstream. The real energy opportunity isn’t in the barrel of crude—it’s in the barrel you burn.
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White papersSo, Why Don’t You Own It? Understanding Underweights in Equity Investing
Concentrated markets demand active choices about which risks to avoid.
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White papersWhat a 5% 10-year Treasury means for commercial real estate
As the 10-year Treasury pushes toward 4.75% for the first time since January 2025, investors are asking what it means for U.S. commercial real estate (CRE). Importantly, the reason rates are rising matters as much as the level. What began as an orderly move in real rates and term premium is now giving way to something less benign - rising inflation expectations and a bond market that’s testing the Fed’s resolve. A 10-year yield near 5% raises the bar for CRE, but it sharpens our thesis rather than breaks it: net operating income (NOI) growth and selectivity are what will likely separate winners from the rest.
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White papersWhy isn’t headline risk translating into market movements?
What explains the divergence between volatility metrics and the significant geopolitical uncertainty?
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White papersAgentic AI for Financial Applications: A Comprehensive Survey
Language models have given rise to agentic AI: autonomous systems that pursue high-level goals through tool use, orchestration, and adaptation. Although prior surveys treat financial applications, agent architectures, and fine-tuning methods in isolation, this review integrates the full agentic stack.
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White papersHiring a Systematic Bond Manager? Seven Questions for Candidates
Systematic bond investing needs specialist skills and resources. Has your manager got what it takes?
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White papersCutting through the noise: Why lower and core middle market direct lending still delivers value in clients’ portfolios
Private credit has become one of the most discussed corners of institutional investing — and one of the most misunderstood. Daily headlines about troubled borrowers, struggling business development companies (BDCs), redemption pressure, and concentrated software exposure have created the impression of a market under stress. But beneath the noise, the lower and core middle market direct lending segment that has historically powered investor outcomes is performing well, behaving as designed, and, in our view, is about to deliver one of its most attractive vintages in years.
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White papersCLOs: A More Selective Opportunity Set
CLOs remain supported by resilient fundamentals, strong demand and attractive carry, but compressed spreads and growing collateral dispersion are raising the bar for credit selection, manager discipline and portfolio construction.
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White papersThe New Role of Geopolitical Risk in Bond Investing
Interest rate volatility is reshaping bond markets. We examine why geopolitical risks have become increasingly linked to bond market volatility since 2025, and discuss the implications for the term premium, fixed income positioning and investment opportunities.
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White papersHigh Yield Holding Firm as Opportunities Evolve
High yield bonds and loans remain well supported by resilient fundamentals and strong demand, with attractive all-in yields continuing to drive investor interest even as spreads remain tight.
