White papers - all assets – Page 65
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White papersOne Man’s Trash | Evaluating Environmental Infrastructure Assets
The concept of something having contradictory qualities depending on the eye of the beholder can be traced back to the first century B.C. Whether the Roman poet and philosopher Lucretius coined the expression, or merely repeated it, his is the oldest known reference: “Quod ali cibus est aliis fuat acre venenum” (what is food for one man may be bitter poison to others). You may be more familiar with the modernized adaptation: “One man’s trash is another man’s treasure.”
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White papersIs the Fed rate-hike pause still likely?
2023 was to be a relatively well telegraphed year, as opposed to 2022 which took investors by surprise. The idea was simple: in 2022, central banks had raised a wall of interest rates to protect our economies from a wave of inflation not seen since the 1970s. These rate hikes were to cause a slowdown in economic growth during 2023 without plunging the world into a deep recession – the ‘soft landing’ scenario.
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White papersESG Viewpoint: what makes supply chain due diligence effective?
Working conditions in supply chains remains a challenging issue that spans virtually all sectors and geographies.
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White papersLooking beyond traditional LDI instruments as de-risking gathers steam
In 2022, we saw one of the most unprecedented movements in global financial markets in modern history. A combination of global geopolitical problems and supply-demand imbalances of goods and services due to the pandemic left the Federal Reserve (Fed) with no option but to try and slam the inflationary brake by hiking short-term interest rates to stop the economy from overheating.
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White papersUnder Pressure
In this interview with AM Best, Ken Griffin discusses how the rise in interest rates has impacted insurers, and what the accounting and capital implications of this environment are.
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White papersCan a weakening US dollar catalyse an emerging market decade?
A weakening US dollar has historically created a positive backdrop for emerging market equities, with the two asset classes inversely correlated, and a sharp decline in the dollar over recent months has led many to claim its decade-long bull run may be coming to an end.
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White papersInflation Quarterly Monitor
In March, the UK Debt Management Office (DMO) announced its borrowing remit for fiscal year 23/24, alongside the Office for Budget Responsibility’s updated forecasts for gross financing. A small downward revision of £3.3 billion was made to the remit in April, resulting in less short and long dated conventional gilts being raised via auctions but no change to inflation-linked gilts.
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White papersUEFA Champions League (UCL) Alphas
Our Systematic Edge team, which has used its quantitative approach to make Super Bowl Champion predictions for over 20 years, has now taken on soccer, too, to predict who will win home club soccer’s most coveted trophy.
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White papersIndian assets are poised for growth in investors’ portfolios
Investors’ attention should be turning to India, which has overtaken China as the world’s most populous country. The country has a lot more going for it than just demographics. We expect GDP growth will average 5.2% per year over the next decade, compared with 3.7% for emerging economies, and a modest 1% for developed markets.
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White papersCarbon capture and storage: Feasible, effective and investible?
In March 2023 the Intergovernmental Panel on Climate Change (IPCC) said there are “multiple, feasible and effective options to reduce greenhouse gas emissions, and they are available now”. Niranjan Sirdeshpande, Head of Catalyst at M&G Investments, looks at investing in one of the newest options: carbon capture and storage.
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White papersUnderstanding Web3—a primer on the emerging digital asset ecosystem
This primer will provide an overview of Web3 and emerging digital assets, and related terms and technology. Its aim is to equip the reader with the foundational understanding necessary to appreciate the potential impact on the future of the financial industry, and also on economies and society more widely.
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White papersEmerging Markets Insights: A greener future
Artificial Intelligence (AI) is driving increased chip demand. Semiconductor chip design company NVIDIA announced earnings in its fiscal second quarter are expected to surge 52% to US$11 billion on demand for its chips which support AI algorithms and large language models similar to Chat-GPT.
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White papersGCC/MENA Bond Market Update
Fixed income markets fell in May, mainly due to stronger-than expected US data, though outside of the United States (US) the figures released were more downbeat. Early in the month, the US Federal Reserve (Fed) raised its federal funds rate by 25 basis points (bps), and accompanying comments by policymakers appeared to suggest an end to the hiking cycle.
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White papersDon’t Judge a Fund by its Number: What LPs Often Overlook in Fund Selection
As many LPs opt to commit limited capital to fewer managers amid today’s uncertain economic climate, revisiting key considerations in manager selection and capital allocation may prove worthwhile.
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White papersBehavioural Biases Among Retail and Institutional Investors
Decision-makers are often subject to various behavioural biases. Although they may affect both retail investors and professional money managers, behavioural biases are likely to be more severe among retail investors.
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White papersUK equities: the song remains the same
Despite the cost-of-living crisis we believe the gloom overhanging the UK economy is overdone UK stocks continue to trade at a discount of around 30% to global equities, which is likely to attract further merger and acquisition acitivity We remain true to our enduring style of high-conviction value investing, ...
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White papersThe ocean – Worthy of investor attention
Our planet is largely blue for a reason – there is an abundance of water. Livelihoods depend on it. The ocean is also crucial for the mitigation of climate change. Maintenance and preservation of the ocean requires investment – not just by coastal authorities and public bodies, but also by private sector parties and even consumers.
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White papersAugmenting Investment Decisions with Robo-Advice
We study the introduction of robo-advising on a large representative sample of Employee Saving Plans. Differently from many services that fully automate portfolio decisions, our robo-advisor proposes investment and rebalancing strategies, leaving investors free to follow or ignore them. We investigate the resulting human-robot interactions and show that with the robo-service investors increase their attention to the portfolio, their investment in the plan and their equity exposure.
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White papersCredit crisis? Why this time may be different for REITs
“Credit crisis” and “banking stress” are dominating headlines and creating uncertainty for capital markets. Real estate is a capital-intensive industry and depends on well-functioning capital markets to thrive.
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White papersListed Infrastructure: A timely complement to unlisted infrastructure
Since its emergence as an asset class in the 1990s, infrastructure has increasingly featured as a distinct allocation within institutional investment portfolios. Traditional infrastructure assets typically share specific attributes that support the delivery of steady investment returns throughout an economic cycle.
