White papers - all assets – Page 292
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White papers
Your Questions Answered by Hermes Direct Lending
What is direct lending? How did you position your strategy? These are just a couple of the most commonly-asked questions about direct lending by our clients and prospective clients.
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Is There Style Drift in Middle Market Lending?
Barings’ Ian Fowler weighs in on the supply/demand dynamics in the direct lending space and explains why looking at the middle market as one cohesive universe can be misleading.
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Fixed Income: Embracing Tech Disruption
How can data science and new technology tools be applied to bond investing? Sonal Desai, our Fixed Income CIO, sets the stage for greater infusion of data science into the investment process.
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Global Equity ESG marks six-year anniversary
Six years ago, we launched our Global Equity ESG strategy. The aim was simple: achieve capital appreciation by investing in global equity securities with favourable ESG credentials. Today, we assess how it has achieved this objective since inception.
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SDG Taxonomy
We believe that companies which contribute to achieving the Sustainable Development Goals (SDGs) are capable of creating positive social and environmental impacts – and are also exposed to the drivers of future growth. We created the Hermes SDG Taxonomy to find investment opportunities directly connected to the goals by identifying impactful businesses poised to be the growth champions of tomorrow.
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Evaluating the Effects of China’s Pork Crisis
African swine fever is ravaging China’s pork supply and having a global impact on protein prices. For equity investors, the crisis serves as a reminder that even amid trade-war uncertainty, research into domestic trends can help investors access the country’s vast stock market.
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US / China Trade Tensions Are Testing Investors’ Nerves
Long-term investors view market volatility as a buying opportunity.
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Robustness, Flexibility and Opportunism in Late-Cycle Investing
When the market starts to anticipate the next downturn, in our view it does not necessarily pay to beat the rush by adopting an underweight in risk assets. While the late stage of the cycle is a time of corporate balance-sheet deterioration, that buildup of leverage can propel a final burst of earnings expansion.
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The five practical issues of incorporating ESG into multi-asset portfolios
We discuss the five practical issues asset owners need to address when implementing a sustainability budget for environmental, social and governance (ESG) considerations in multi-asset portfolios.
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Delta: the beginning of the end, or the end of the beginning?
Are we experiencing the final late-cycle surge in credit markets, or is there more distance left to run? Alternatively, do low policy-rate peaks in heavily indebted economies signal the beginning of Japanification in the US and Europe?
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Sink or swim: buoy portfolio returns with illiquid assets
With public equity markets trading close to all-time highs and low yields available from bonds, interest in private assets like infrastructure and private equity has risen.
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US-China trade: continuing the talks while making the war
In our opinion, investors should dismiss the idea that talks could break down, albeit uncertainties remain. Recent work has focused on details and wording, with the majority of the agreement document having been completed. However, several major issues remain, and on these it is largely up to Trump and XI to make final decisions.
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Economic Crisis And Political Risk Batter Argentina. Way Out Or Opportunity?
The economy is facing severe stagflation. Monetary and fiscal policy are extremely tight, consumer and investor confidence is low, and inflation is proving very sticky amidst wage indexation. Whilst we view the fiscal and monetary mix to be appropriate given Argentina’s macro challenges, it is possible that these measures may not be able to stabilise the economy in time for the elections.
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White papers
Investing for Impact: Our Take
In early 2019, Stephanie Braming, CFA, partner, global head of William Blair Investment Management, participated in The Economist’s Investing for Impact conference in New York City. We later sat down with her to discuss sustainability, environmental, social, and governance (ESG) factors, and the changing demands of the industry.
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Automation For The People: Fintech In The Real World
How are demographics and technological advances changing financial services?
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Asset Class Return Forecasts - Q2 - 2019
This document includes the perspective of Amundi on asset returns used to build reference portfolios for our institutional clients. A publication issued annually in February covers the major macro and financial foundations of our views, while this one provides a quarterly update of our medium and long-term expected returns by asset class.
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Equity Options Skews: Why No Surprises?
Equity index options are the least surprising of options markets. According to data and the best of our knowledge, out-the-money (OTM) call options have never cost more than OTM puts on equity index options – reflecting the greater concern of a market slump than a rally.
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High Yield: Identifying Value Amid Shifting Sentiment
In this Q&A, David Mihalick, Barings’ Head of U.S. High Yield Investments, discusses the volatile swings in investor sentiment that high yield markets experienced over the last two quarters, and where the Barings team is seeing value today.