All White papers articles – Page 11
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White papers
Investment Update: fragile recovery on real estate markets
Real estate markets are showing slight signs of recovery. For instance, real estate values seem to stabilise in the first quarter of this year. However, the recovery is still fragile, writes Casper Hesp, Director Investment Management at Achmea Real Estate, in the foreword to the new Investment Update. Investment volume is still low and government bond yields are rising slightly again now that the ECB seems to be waiting longer with interest rate cuts.
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White papers
Macroeconomic and financial market forecasts - May 2024
Monthly Cross Asset - Macroeconomic and financial market forecasts
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White papers
Macroeconomics, Geopolitics, and Strategy - May 2024
“We expect 75 bps of rate cuts in 2024 as monetary policy remains restrictive, growth will slow down, and inflation data do not alter our projections.”
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White papers
IMF spring meeting take-aways: short-term resilience, but no reacceleration in the mid term
In recent months, the IMF and other economic forecasters have raised their growth projections for 2024. The April World Economic Outlook showed revisions (+0.3% Global) that primarily affected the US, China and Emerging Markets (EM). These revisions were based on expectations of less economic scarring from the recent crisis, insufficient fiscal adjustment supporting short-term growth and less effective monetary policy transmission compared to the past.
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White papers
M&A wave could enhance convertible bond returns in 2024
Takeover activity was strong in 2023, both among private equity and strategic buyers. The outlook for this year looks just as promising, in our view, reflecting the recent improvements in liquidity and economic conditions. There is a large amount of dry powder to be deployed, and the hope that interest rates are stabilising should build market confidence, although the Federal Reserve has been unwilling to provide reassurances on this.
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White papers
High yield: differentiation returns to drive the next leg of performance
European high yield has outperformed the US this year, which in itself is a pretty rare occurrence. But things get even more interesting when you look at what’s driving those returns.
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White papers
Cross Asset Investment Strategy - May 2024
Topic of the Month: IMF spring meeting take-aways: short-term resilience, but no reacceleration in the mid term
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White papers
Japan’s corporate transformation fuels renewed optimism
After a 34-year wait Japan’s stock market has reached a new record high, driven by optimism about corporate governance changes and attractive valuations. Following a stellar rally over the past year, Carl Vine, Co-Head of Asia Pacific Equities, believes there are further chapters to come in the Japanese equity story and the ongoing transformation of corporate culture offers potential opportunities for patient, engaged investors.
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White papers
Correlation breakdown? Let’s listen to the data
At certain junctures in each investment cycle, market observers like us note phrases such as “correlations are breaking down”. Such an event is crucial, as the structure of our multi-asset portfolios hinges on the intricate concept of diversification. Ideally, correlations should be concentrated enough to avoid being muddled by investment noise, yet not so concentrated as to forfeit the benefits of cross-asset and intra-asset class diversification.
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White papers
Green leases - IREI article on sustainable practices in real estate
Green leases have proved popular among landlords and tenants alike to ensure that properties are being operated in a sustainable manner. What are green leases, how have they evolved, and how can building owners practically implement them in existing real estate portfolios?
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White papers
Schroders Capital Global Real Estate Lens April 2024: your go-to guide to global property markets
Our latest analysis highlights the key data and trends that matter to global real estate investors.
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White papers
Allocation Views: A healthy correction
An improving macro environment is typically associated with strong markets, which is causing Franklin Templeton Investment Solutions to maintain a tilt toward riskier assets.
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White papers
Premier Miton Diversified Sustainable Growth Fund: why sustainable forests?
Premier Miton fund manager Duncan Goodwin considers natural capital, climate change and sustainable forests in the latest Sustainable Times.
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White papers
Global Investment Views - May 2024
Recent inflation and growth data from the US indicates continued strength in the economy, leading us and various institutions including the IMF to revise up US growth. We see the current strong momentum to continue into Q2 but expect a deceleration in H2, without negative growth in any quarter.
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White papers
Emerging markets are gaining interest
“In the search for equity opportunities, Emerging Markets may offer appealing valuations and exposure to long-term growth opportunities.”
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White papers
Modeling Direct and Indirect Climate-related Physical Risks
This paper addresses the methodological challenges in quantifying physical risks associated with climate change, proposing a novel top-down stochastic approach focused on modeling financial losses from extreme events. Unlike existing studies limited to specific events, our approach utilizes predefined climate sensitivity parameters, enabling a broader application across various extreme events using the example of tropical cyclones.
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White papers
Climate investing is an opportunity for Emerging Markets
Climate pathways are integral to economic and market expectations, and investors must increasingly focus their attention on the impact of the energy and climate transitions, particularly in Emerging Markets (EM). Last year’s record-breaking temperatures were a stark reminder that the global economic landscape is undergoing profound shifts; 2023 was the hottest year on record, with average temperatures exceeding 1.5°C of warming above pre-industrial levels.
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White papers
Hedge Fund Outlook H2 2024
Hedge Funds (HF) are up 4.2% year-to-date as of March 2024, which compares well with diversified global allocations, including 40/60 Equity/Bond portfolios which are up around +2.2% and have higher volatility. HF performance year-to-date was led by CTAs, EM focused and L/S Equity both Directional and Neutral. Overall, the HF industry continued to produce very strong alpha, up an estimated 6%+ y/y.
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White papers
Emerging Markets Insights: China’s market rebounds
Our Franklin Templeton Emerging Markets Equity team has their eye on three things in this issue: China’s equity rebound, a recalibration of US interest-rate expectations, and commodity prices.
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White papers
Emerging market debt: the strong recovery continues
After a difficult couple of years for the asset class, emerging market debt (EMD) is one of the fastest growing parts of the wider fixed-income universe.