White papers - all assets – Page 331
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White papers
The Case for Macro
Macro investors adopt a top-down view of the world in which they analyze broad trends to allocate risk across asset classes, geographies, sectors, and currencies—resulting in a liquid strategy that aims to deliver strong risk-adjusted returns without having to rely on rising equity or bond markets.
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US Banks: Ready to Emerge from the Storm?
After weathering the global financial crisis and an era of heavy regulation, the US banking sector has gotten what looks to be a clean bill of health. We think this opens a lot of possibilities for equity investors.
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White papers
Responsible Investment Quarterly: Q1 2017
Welcome to a new format for our quarterly report. 2017 is shaping up to be an interesting year. In terms of voting, we expect to see a number of areas of focus.
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Your Income Portfolio: Better with Balance
One of the biggest challenges for bond investors today is keeping income flowing without taking too much risk. We think a balanced barbell approach can help.
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White papers
In Credit: State aid? What state aid?
Markets remained somewhat spooked by the previous week’s seemingly coordinated central bank shift in policy.
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White papers
Palm oil, the environmental dilemma
Palm oil, used mainly and on a massive scale today by the agri-food and cosmetic industries, is severely criticised.
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Five Ways Populism Could Impact Investors
Economic insecurity, social insecurity and political ineffectiveness: these developments have fed a resurgence of populist policies in many regions of the world. We think there’s potential for major impacts on global capital markets.
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Emerging market assets: Zoom out and re-focus
Emerging market assets well placed to outperform their developed world counterparts but too much attention is devoted to the short term.
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Valuations and Volatility Test Equity Investors
It’s been a really good year for equities so far. Paradoxically, this is sowing the seeds of anxiety. Valuations are higher, so people are worried about a correction. Subdued volatility has stoked fears of renewed turbulence.
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Infrastructure: Opportunity for yield and diversification
Infrastructure is a real asset offering institutional investors distinct advantages over traditional and alternative asset classes.
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In Credit: Loose lips sink ships
Core government bond markets performed very poorly last week with yields rising meaningfully in most areas.
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White papers
Factor investing for government bonds beyond duration, currency and credit risk timing
The traditional investment approaches employed to generate active returns in the government bonds market focus essentially on actively timing duration, credit risk or currency exposure.
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Factor investing is not an asset class, it’s a solution-oriented philosophy
The naïve approach to single factor investing is to simply select the stocks that have the desired characteristic and to find a weighting scheme that doesn’t raise too many problems in terms of liquidity and diversification, i.e. usually linked to some extent to the original market capitalisation.
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Stockpicking without subjectivity
After the great financial crisis of 2008, the US economy evolved through both remedial and recovery phases, and is now advancing into a new era.
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Why reflation is about much more than Donald Trump
Donald Trump’s unexpected victory in the US presidential election last year prompted much market excitement about the birth of the ‘reflation trade,’ based on the former reality TV star’s plans to cut taxes and spend lavishly on America’s crumbling infrastructure.
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White papers
The Four Principles of Style-Premia Selection
Factor investing, whereby the fundamental and technical drivers of securities are used to create diversifying strategies, has in recent years become democratised: it is now accessible to investors beyond those willing and able to pay hedge funds ‘two and twenty.’
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Impact Investing Towards a Better World
When it comes to investment criteria, most fund managers don’t typically look at alleviating hunger, expanding access to health care or bridging the digital divide.
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Factoring in the best approach
There continues to be a lot written and said about factor investing and, like any popular idea, there can be confusing and conflicting messages.
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White papers
Harvesting Value with Sector Rotation
Through time sector performance varies due to natural market conditions that ebb and flow. Sector performances are often uncorrelated, meaning an investment strategy that chooses strong performing sectors in the right market conditions becomes attractive.