White papers - all assets – Page 328
-
White papersHorses, Not Camels: Diversity and Group Decision-Making
In the investing industry, we’re all well aware that our business isn’t a one-person endeavor. The basic problem-solving unit is quite often a group or team. But how do we create the right formula that ensures groups make thoughtful, effective decisions and avoid bad ones?
-
White papersGold in Central Banks’ Asset Allocation
After a long lacklustre period during the 1980s and 1990s, the price of gold has picked up significantly since the new millennium, and central banks, after having steadily reduced their allocation to gold, have resumed their gold purchases.
-
White papersUS v China: the real agenda behind the trade war
Not since the Cold War has the US had a serious rival superpower. Even in that period of intense nuclear paranoia, a sign mounted inside the Pentagon proclaimed: “If we ever faced a real enemy, we would be in deep trouble”. With the rise of an increasingly powerful, influential and technologically advanced China, that adversary could have arrived.
-
White papersESG – Seeing the Bigger Picture : Managing ESG Factors Thoughtfully For UK DC Schemes
Just over a decade ago, global markets began to recover from the biggest shock in postwar history. In these 10 charts, we aim to show how much has changed since then and how market conditions over the past decade may influence big changes that are beginning to unfold today.
-
White papersGet active about your passive
The evidence is mounting that investors have given up on trying to beat the market in US large caps. For example, Bloomberg recently reported that passively managed large cap US equity fund assets overtook actively managed large cap US equity fund assets at the end of 2018.
-
White papersDefault Probability Measure
In a world of integrated global financial markets, accurately predicting company default risk is important not only in traditional fixed income credit analysis but also more broadly across the financial industry.
-
White papersQ1 2019 - Global Asset Class Spotlights: Top Down Quarterly Assessment
The combination of monetary policy stances (more patient and flexible everywhere), encouraging tariff negotiations, Chinese authorities proving successful in their resolution to support the economic cycle are all potential triggers (and risks when mirrored) to risk assets and might help produce a positive short lasting reaction.
-
White papersCross Asset Investment Strategy - March 2019
If an investor had woken up today after three months and looked at the markets, he/she could reasonably say that not much had changed. The year started on strong footing and risk assets experienced a massive rebound in the first weeks of 2019, erasing most of the losses experienced in one of the most awful Decembers in history. As a result some valuation gaps have been closed somewhat, though not exhausted. Markets switched rapidly from a “fear” to a “greed” mood. Catalysts of the renewed optimism have included the dovish shift in the Federal Reserve’s strategy, and increasing signs of progress in the trade negotiations between the US and China.
-
White papersH1 2019 - Emerging Markets Charts & Views: Seek opportunities, but be aware of short-term volatility
Emerging markets (EM) started 2019 on a strong footing and, as a result, some excessive valuation gaps have been partially closed. Yet, we continue to see opportunities in all EM segments (equity, bonds in hard currency and in local currency) with a medium to long-term view.
-
White papersSpotlight on addressing climate change
In 2018, a group of leading climate scientists warned there is only a dozen years for global warming to be kept to a maximum of 1.5°C in a report published by the UN Intergovernmental panel on Climate Change (IPCC). It states that even half a degree beyond this temperatures will have significant environmental consequences, such as increased risk of heatwaves, droughts, floods and food shortages.
-
White papersBrexit: an agreement is now more likely, but be aware of a no deal risk, not priced in
Developments and scenarios ahead: This is probably the most decisive week for Brexit and the situation is still rapidly evolving. Last night, Mrs. May and Mr. Juncker announced an agreement on the most controversial part of the Brexit deal: the Irish border backstop. This agreement is aimed at getting the U.K. Parliament to accept the Brexit deal previously rejected in January.
-
White papersWhere Are We In The Brexit Process?
Despite the rapidly approaching deadline for the UK leaving the European Union, much remains up in the air. Trying to gauge the long-term economic impact is difficult, but we are seeking to minimise unwanted risk in our portfolios.
-
White papersFinancial Applications of Gaussian Processes and Bayesian Optimization
In the last five years, the financial industry has been impacted by the emergence of digitalization and machine learning. In this article, we explore two methods that have undergone rapid development in recent years: Gaussian processes and Bayesian optimization. Gaussian processes can be seen as a generalization of Gaussian random vectors and are associated with the development of kernel methods.
-
White papersFX Options Skews: Economics and Implications
Are FX options skews a useful indicator of whether a currency will rise or fall against the U.S. dollar? We looked at some out-of-the-money puts and calls.
-
White papersDoing the Math on Women’s Empowerment
No one organization is responsible for the advancement of women, and that means every organization is. Women’s empowerment starts with education. It continues with the ability to earn an equitable living, especially in fields where women are underrepresented, and crests with women playing leadership roles at work or owning their own businesses.
-
White papersA dovish ECB, a little relief for the banking sector
The European Central Bank (ECB) announced a new series of TLTROs starting in September 2019 and changed its forward guidance, with a commitment not to hike rates this year.
-
White papers
Monetary Policy’s Effect on EM Debt
Rate expectations have changed materially across emerging and developed markets in the first quarter of 2019. What does this mean for emerging markets debt? Barings’ Ricardo Adrogué weighs in.
-
White papersMarket Risk Insights
Mountaineers know that acclimatisation provides the best chance of success in an attempt on a formidable peak – and there are strong parallels with investing. In 2019, investors will need to be the equivalent of mountain-fit in their terrain: the markets
-
White papersBrexit Endgame: Interest Rate Scenarios
The UK parliament holds a series of Brexit votes over the next week that could have wide-ranging implications on interest rates. We look at some scenarios.
-
White papersTop trends in 2019 – Infrastructure Outlook
This paper focuses on three key themes in Europe and North America to help investors navigate portfolio allocation decisions.
