White papers - all assets – Page 326
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White papersIs it time to get off the roller coaster?
The market for pension de-risking is growing at an un- precedented pace. Today, pension funds in the US, UK and Canada are simultaneously at the highest funded status they’ve experienced in ten years. In addition, these markets have attracted new entrants in pension insurance and reinsurance, so there is ample insurer capacity, vibrant price competition, and attractive buy-in and buy-out pricing.
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White papersA plan for volatility: Global convertible securities
Active management and global perspective maximise the potential benefits of the convertible’s unique structural features
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White papersEmerging market equities - a horizon of opportunity
The investment universe in emerging markets has expanded rapidly
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White papersResponsible Returns: Better Stocks for a Better World
Many equity investors want to help create social benefits while generating strong returns. Achieving these twin goals requires a coherent investment approach. In this paper, we outline a process designed to effectively integrate environmental, social and governance factors in a sustainable equity strategy. Using stock examples, we demonstrate how to identify companies that support the UN Sustainable Development Goals (SDGs) and offer sources of long-term return potential.
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White papersInnovative factors provide leading edge – on the potential of alternative data
An active, factor-based strategy focuses on tapping into new sources of data, on identifying relevant information and how to intelligently combine such information. Within this context alternative data – texts, images, or audio files – is becoming more important for the investment process, and regarding additional analytical value. At the same time, comprehensive and swift analysis requires state-of-the-art technology and plenty of experience.
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White papersFX Leadership
Can the U.S. dollar maintain its leadership of global currencies amid a decelerating economy and the China trade war elevating risk in the United States?
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White papersAn alternative to traditional euro credit management: a smart beta credit approach incorporating ESG criteria
How should we approach bond management as the end of a bull market cycle un- precedented in terms of its size and duration begins? Over the past two decades, bond portfolios have been boosted by the steady fall in interest rates. This has reduced the importance of bond selection – all investors have needed to do to prosper has been to increase their portfolio’s duration and its exposure to credit risk and less liquid assets.
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White papersInsurers Need High-Tech Solutions in a Low-Liquidity World
Liquidity has become a precious commodity in fixed-income markets since the global financial crisis. Post-crisis regulations have made broker-dealers reluctant to warehouse large risks on their books, which in turn has made it more difficult for insurers and other institutional investors to trade large blocks of bonds quickly and efficiently.
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White papersStrategic Relative Value Q1 2019
A quarterly look at how macro events are driving relative value around the globe.
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White papersAmplified: What key themes will we engage on this year?
Investors can play a powerful role in tackling global challenges, such as climate change or human rights issues, by engaging with companies. But how can we ensure our efforts have the maximum impact?
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White papersPersistence And Skill In The Performance Of Mutual Fund Families
Prior research has shown that decisions made at fund family level can account for a substantial portion of the performance of the individual active fund managers in the family.
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White papersOptimal Allocation in the S&P 600 under Size-Driven Illiquidity
A number of empirical studies have investigated how mutual funds do react to incoming financial resources. As long as liquidity constraints are narrow, fund managers tend to upscale already existing positions without looking for new investment opportunities.
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White papersGlobal Investment Views: A sweet spot, but keep a sharp eye on the macro side
Risky assets have been in a very strong uptrend since the beginning of the year. The key question now is, where do we go from here? There are two main driving forces to focus on in the current context.
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White papersGlobal Investment Views - April 2019
A sweet spot, but keep a sharp eye on the macro side
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White papersDebt Ceiling Back in Play
The twin threat of a technical debt default and potential government shutdown could resurface later this year, likely affecting equities and Treasuries.
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White papersSome great companies and attractive valuations offer opportunities in Europe
Following strong performance in 2017, European markets retreated in 2018 – a sell-off that was markedly similar to the 2015-16 downturn, when industrials, miners, banks, commodities and emerging markets plummeted by 30% or more
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White papersRiding the shared economy wave
Pioneers of peer-to-peer economies such as Uber and Airbnb are changing consumer behaviours and disrupting industries from travel to finance. There will be winners and losers
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White papersLessons from a decade of bank bailouts
Both the US and the UK moved fast to clean up bank balance sheets – Europe, however, delayed and so will face the next downturn from a weaker position
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White papersEurope’s ‘shrinking state’ offers investor opportunities
Private sector efficiency can result in a good deal for both the public and investors
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White papersBrexit And UK Defined Benefit Funding
Immediately following the EU referendum, financial markets downgraded medium-term growth expectations for the UK. Sterling weakened, long-dated government bond yields fell, and UK equity assets fell relative to international equities. Two-and-a- half years on we can see that this weakness has not unwound.
