White papers - all assets – Page 30
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White papers2025 Global Public Real Estate Outlook Report
In last year’s outlook report, we anticipated that REITs were on the verge of takeoff in 2024. By summer, REITs hit the inflection point we were anticipating, and investor sentiment improved significantly towards the asset class. However, more cautious commentary during the Federal Reserve’s December meeting around future rate cuts led to a sharp market pullback in the final weeks of 2024. Despite this, global REITs ended the year with a mid-single-digit positive return.
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White papersFinding Homes for all Those Zettabytes
As data usage continues to explode, the digital-storage industry is racing to innovate. Here’s a fun fact for summer beachgoers with a taste for tech: Bytes of data now well exceed grains of sand. Thanks to advancements in artificial intelligence (AI), demand for data storage is simply exploding—and the raw numbers are staggering to comprehend.
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White papersRelative-Value Macro: Finding Friends Outside the Trend
Trend-following may struggle in range-bound markets, but it’s not the only macro approach.
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White papersMacro brief: Tariff clarity for Japan but political uncertainty remains
Japan watchers have seen the country strike a solid trade deal with the US in recent weeks, bringing much-needed certainty to a country still dependent on nascent reflation. At the same time, however, the ruling Liberal Democratic Party (LDP)/Komeito coalition’s failure to secure a majority in Upper House elections has intensified calls for new political leadership.
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White papers“US(D) exceptionalism” is not going away
Although equity investors have been adjusting their regional allocations away from the US dollar in recent months, there is little sign this is happening in bond markets, where yields remain high and alternatives to the dollar are limited.
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White papersGlobal Equities: The Rise of New Market Leaders
We are upgrading Japan to overweight as our concerns about a stronger yen abate and while we continue to be positive about corporate reforms and the end of deflation in Japan. We maintain our recommended overweight exposures to Europe and China. On the style front, we reaffirm our preference for value over growth, and small caps over large caps in the U.S.
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White papersAsset Class Returns H1 2025
Improved growth/inflation mix: Our long-term model assumptions anticipate a fragmented and even more delayed energy transition, incorporating secular trends and uncertainties that impact price dynamics and volatility. Compared to last year, the growth/inflation outlook appears less penalised by a restrictive regulatory framework around the energy transition, but the uncertainty around inflation has increased.
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White papersREITs 101: Unlocking the Value of Public Real Estate
In our last research article, titled “The Current Opportunity in REITs” we posited that REITs may have reached an inflection point after several years of underperformance. Building on that view, this article delves deeper into the fundamental reasons for investing in REITs, emphasizing the advantages of this unique asset class such as income generation, diversification, and inflation protection. We also touch on the role of active management within the REIT space, highlighting how it can potentially outperform passive strategies, particularly in today’s climate of economic volatility and sector-specific opportunities.
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White papersThe future of nuclear energy: Fact, fiction and fission
What role should nuclear power play in the energy mix? Answers to this question have differed across countries and over time. Though policies and uptake across the globe remain varied, there’s now growing interest in both established and new reactor technologies – even in some countries that have historically been wary.
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White papersWill the Fed Stay in the Monetary Policy Driver’s Seat?
Efforts to reduce the central bank’s autonomy would likely disrupt markets.
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White papersMid-year investment update – Through the rapids
Markets have faced no shortage of challenges over the last quarter, most notably the threat of US import tariffs after ‘Liberation Day’, but also the prospect of a surge in oil prices stemming from the conflict in the Middle East and a sell-off in US Treasury yields following an expansionary budget bill in the US.
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White papersESG Annual Report 2025
Welcome to our seventh annual Environment, Social and Governance (ESG) Report, covering the 12-month period to March 2025.
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White papersThe Fed navigates economic crosscurrents amid tariffs
The U.S. Federal Reserve maintained its target policy rate at 4.25%-4.50% during its July meeting, acknowledging the dual challenges of slowing economic growth and tariff-related distortions. While headline GDP figures have oscillated dramatically, underlying growth continues its gradual deceleration during persistent uncertainty.
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White papersBuilt for shifting times: Asset Management in a new era
The only constant in asset management is change - rarely has this statement felt more relevant than it does today. We are living through a period in which markets, politics, and investor behavior are all shifting simultaneously. As one of our clients recently put it: “It’s not the volatility that worries me – it’s that everything is moving at once.” From central bank policy to geopolitical alliances, from inflation dynamics to innovation, asset managers and sovereign institutions are navigating a world in flux. At UBS Asset Management, our role is not just to respond to this environment – but to support clients in responding with clarity and discipline.
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White papersResearch Agenda 2025/26: Paving the Way for Continued Innovation in the AB UK Target Date Funds
Every year AB’s DC team sets out its research priorities for the coming 12 months. The research findings pave the way for enhancements to our DC TDF ranges across investments, product development and client reporting. What’s new for 2026?
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White papersIn Conversation – Real assets: shaping a greener future for Europe
Investment in real assets – from renewable energy projects and energy-efficient buildings to battery storage and forests – plays a vital role in the energy transition. Here, our experts examine how macroeconomic uncertainty is affecting this area and look at the trends supporting growth in private financing.
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White papersWitnessing India’s Transformation
A recent visit reaffirmed our conviction as to the pace of change in this key economy.
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White papersConfounding returns: The mysterious case of the US dollar
The weakness of the US dollar this year has been unexpected as tariffs were widely expected to lead to the dollar strengthening. Tristan Hanson, Multi Asset Fund Manager, explores the factors that determine currency movements, from capital flows to interest rate differentials. While bearishness about the US dollar has increased, he suggests investors should be appropriately sceptical of the stories used to explain exchange rate movements.
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White papersSoaring to new heights Top 10 with… Interview with David Kozlicki
The real estate market has experienced significant changes in recent times, with many investors seeking innovative strategies to enhance their portfolios.David Kozlicki, Head of Unified Global Alternatives (UGA) – Real Estate, discusses how the business is responding to these shifts by offering diversified investment opportunities, adaptive solutions and strategic partnerships. By leveraging their global reach and expertise, how does UGA – Real Estate aim for optimal asset control and sustainable growth in a volatile market?
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White papersTop 10 with… Interview with David Kozlicki
The real estate market has experienced significant changes in recent times, with many investors seeking innovative strategies to enhance their portfolios.David Kozlicki, Head of Unified Global Alternatives (UGA) – Real Estate, discusses how the business is responding to these shifts by offering diversified investment opportunities, adaptive solutions and strategic partnerships. By leveraging their global reach and expertise, how does UGA – Real Estate aim for optimal asset control and sustainable growth in a volatile market?
