White papers - all assets – Page 69
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White papers
PM Spotlight: A Mathematician Managing Munis
Nick Venditti, Senior Portfolio Manager of Municipal Fixed Income, has an exceptional background in municipal bond risk. Read this issue of PM Spotlight to learn about his approach to the asset class.
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White papers
Why are we waiting?: Time for UK infrastructure to pick up pace - Aviva Investors
After a slow start to the year, Darryl Murphy ponders what it will take to get the UK infrastructure market moving again.
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U.S. farmland investment returns: continued gains in 2022
Our optimistic outlook for U.S. agricultural investments continues following overall outstanding performance.
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One of the Top Reasons for Retiring Early: Unexpected Job Loss
An important and difficult decision that workers face is when to retire. In a research study by Allspring, nearly half of retirees retired earlier than expected. That can have major consequences.
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Challenges faced by emerging market corporates
Emerging market (EM) corporations with foreign currency debt found life particularly tough during the decade-plus of dollar strength. Weak currencies put pressure on profits among companies with a domestic focus but with hard currency liabilities. High domestic interest rates make for high costs of funding.
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How strong dollar dynamics impacts emerging markets
Years of strong dollar dynamics have had a far reaching consequences for emerging economies, much of it played out in the currency markets.
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The stars align for emerging market bonds
The stars are aligning for emerging market (EM) debt. And according to our analysis, there are good reasons to believe these assets – both sovereign and corporate bonds - are on the cusp of an upswing that could last for years to come.
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White papers
Biodiversity investment case study: innovative urbanisation
Biodiversity is essential to human prosperity, enabling vital ecosystem services like pollination, flood protection, soil fertility and the production of food, fuel and medicines. In this case study on innovative urbanisation, we discuss ways that cities can integrate nature into the built environment, helping to halt and even reverse biodiversity loss.
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Actively exploiting potential in fallen angels
Fallen angels fall for a reason; understanding the reason through an active approach helps avoid bonds that are likely to suffer from further downgrades and detract from performance. We delve into why credit analysis is key and illustrate our approach with two case studies.
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White papers
Hydrogen and net zero – which ambitions are realistic, and which are less so?
Hydrogen is not an energy source in itself, but more a means of transmitting or storing energy. Its relative expense means we expect it only to be used where it’s the only viable solution.
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White papers
Black Book: A Painful Epiphany
The shock of 2022 was that bonds didn’t diversify equity risk. The extreme positive correlation of that year might not persist, but we show that for most of the past 250 years, a slightly positive correlation has been the norm. While it’s hard to identify the consistent forces that have driven this relationship over such an extended period, both the level and volatility of inflation point to the stock-bond correlation remaining in a range from zero to slightly positive.
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White papers
Taking a Time Out? The High Price of Idle Cash
Parking your fixed-income assets in cash may seem like a safe choice in today’s volatile investing environment, but it’s actually a risky proposition. Here are three reasons why sitting on the sidelines can be a dangerous game.
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White papers
European ABS: Sailing through banking-induced volatility?
At the beginning of the year, few investors would have predicted that collapses in the banking sector would trigger the next bout of volatility and lead to a significant shift in the trajectory and velocity of monetary policy. The failure of three US regional banks and the rescue of Credit Suisse by UBS, which saw CS AT1 bonds fully written down, has led investors to re-evaluate the level of risk premia required to compensate for taking subordinated exposure particularly within the banking sector.
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White papers
Age of AI
Artificial Intelligence (AI) is a key pillar of the digital transformation theme, which is driving significant disruption and spurring new growth. Grant Bowers, portfolio manager with Franklin Equity Group, offers a unique perspective of the challenges and benefits of this evolving and disruptive technology.
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White papers
Opportunities across the credit spectrum for multi-sector income investors
As central banks near the end of hiking cycles, the environment is becoming increasingly supportive for fixed income.
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White papers
In a soft landing we trust – right?
In the latest instalment of Simply put, where we make macro calls with a multi-asset perspective, we explore the scenarios underlying different markets, as well as their one commonality: the anticipation of a soft landing. What are the implications for portfolios?
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White papers
Learnings from Earnings: Macro Crosscurrents Make Growth Elusive
Markets are being shaped by disparate trends from falling energy prices to rising interest rates. During first-quarter earnings season, company reports indicated that these crosscurrents are intensifying business challenges—and making it harder for investors to find resilient sources of growth.
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White papers
Building bridges to India’s future investment opportunities
India’s strong demographics and role in the geopolitical arena make it a long-term opportunity for global investors.
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White papers
Markets rally despite bank scare: Q1 roundup
Global stocks rose as investors welcomed signs from central bank officials in the U.S. and Europe that interest rates may not rise as much as previously expected. Lower inflation levels, combined with a crisis in the banking sector, prompted central bankers to consider adjusting monetary policy in the months ahead, leaving investors to speculate that there may be no additional rate increases this year.
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White papers
Plastic wrap: scaling-up recycling, boosting biomanufacturing
Welcome to Plastic wrap, our bimonthly review of the science, policy and corporate activity pivotal in creating a circular plastics value chain.