White papers - all assets – Page 63
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White papersTrump’s impact on the labor market: Quick takes on capital markets
The Trump administration’s bold policy initiatives to increase government efficiency and tighten immigration will likely have macroeconomic consequences for the labor market, potentially weighing on labor demand and supply. However, the combined effect will likely also be very nuanced, suggesting the data over the coming months will be difficult to parse and understand, making policymaking even more challenging for the Fed.
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White papersKeep an eye on your tech stocks
Investors have a decent record in ignoring warning signs. In the wake of any big market sell-off, legions of sages have tended to pop up and lament, after the fact, that “the warning signs were there.” Yet the lead-up to each of these reverses has usually been a period of carefree investor exuberance. In other words, if the signs really were there, very few people were paying attention.
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White papersInvesting for Security in Unstable Times: Energy and Supply Chains
Efforts to secure supply chains and energy sources are creating powerful and enduring themes for equity investors—even in these turbulent times.
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White papersA sustainable future for commodity index investing?
A new approach to commodity investing - one that considers environmental and social factors.
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White papersA selective approach is key in high yield in 2025
Jack Stephenson, Fixed Income Investment Specialist, spoke to Investment Week about US high yield and where we are finding opportunities.
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White papersFinding the balance
“In the short run, the market is a voting machine, but in the long run it is a weighing machine.” — Benjamin Graham.
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White papersLocal Currency Bonds: The Next Frontier
Frontier markets are well represented in investors’ allocation to USD markets but not so much in local currencies. This may be changing given growing interest in its strong performance and benchmark providers creating more transparency.
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White papersCorporate Hybrids Arbitrage: Trading the Ebbs and Flows of Extension Risk
Is there structural mispricing in Corporate Hybrids?
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White papersThe Tariff Man Cometh…and Go-eth?
Are these levies just a negotiating tool, or an unorthodox revenue-raising scheme? The answer could determine how seriously investors should view them.
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White papersPrivate Markets: As The Ice Breaks
With a liquidity drought fading, investors can return to the more normal task of building private market portfolios designed to pursue unique investment goals.
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White papersJapanese Equities in 2025: Goldilocks Would Approve
Japanese Equities: Are the “Lost Decades” Finally in the Rear View?
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White papersWhat’s Next For Pharmacy Benefit Managers?
These giant middlemen claim they help keep drug costs in check, but scrutiny—and competition—are brewing.
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White papersClimate Change High Yield Credit, Annual Report 2024
We continue to see investor engagement play a critical role, particularly with companies in high-carbon sectors.
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White papersFixed Income prepares for a shiny new year
Bonds finished 2024 with positive returns, and we believe fixed income assets can continue to shine. Solid economic growth, sticky inflation and a slow pace of U.S. Federal Reserve rate cuts should keep shorter-term yields elevated. And relatively stable longer term rates mean higher yields can help build portfolio income and return potential. In this environment, we like well-diversified multisector and core plus bond strategies in particular.
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White papersEM leaders drive fiscal policy improvements: EMD report Q1 2025
With sovereign and corporate credit spreads at multi-year lows, we remain constructive on Emerging Market Debt (EMD) in 2025.
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White papersAsia ex-Japan Equity: Letter to Investors
The apparently unstoppable growth of passive assets – via exchange traded funds (ETFs) – presents a considerable challenge to active contrarian fund managers (like us). In this letter, we discuss how this powerful dynamic favours momentum stocks and how the outperformance of such stocks might run out of road.
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White papersGEMs ESG Materiality, H2 2024: Analysing the cost of climate change
In the latest issue, we probe the risks that climate change potentially represents to emerging market companies. We provide a further update on South Korea’s ‘Corporate Value-Up Programme’, and also discuss our broader voting and engagement activity.
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White papersFixed income outlook update: the market comes out swinging
The year started with some sharp moves in fixed income, with developments in terms of inflation trends and labour market conditions. So, how does this align with our broader fixed income outlook for the year?
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White papersEvolving diversification: New asset allocation approaches for insurers
An overview of opportunities and challenges that exist for insurers
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White papersShort duration bonds: your first step out of cash
Short duration bonds may have a role to play in an investor’s portfolio regardless of the market cycle. But especially in uncertain times, investors looking to enhance cash returns might consider taking an intermediate step into riskier assets for a modest pick up in yield via short duration bonds.
