All White papers articles – Page 118
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White papersElections 101: Could the dust be settling favourably for emerging market equities?
In the wake of major elections in India, Mexico and South Africa, we find a sea of investment opportunities for active stock selectors. Let’s delve deeper into the recent triumvirate of ballots that have unfolded across emerging markets, spanning continents from Asia to Africa to Central America. By examining the outcomes and implications of these votes, we stand to uncover a range of prospects for investors looking to navigate these dynamic markets.
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White papersESG Viewpoint: Nature Positive commitments: separating the green from greenwash
Over 1,400 companies are calling on governments to adopt policies to reach Nature Positive by 2030. 95 British businesses have signed up to a collective goal to be Nature Positive by 2030, and a third of the global mining industry has committed to reach Nature Positive by 2030 through the International Council on Mining and Metals (ICMM)123.
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White papersUS high yield: Broader financing options soften impact of higher rates
Heading into 2023, the consensus narrative appeared set. The Federal Reserve had embarked on an aggressive interest rate hiking cycle to combat spiralling inflation. A US recession was expected to follow, as household excess savings built up during the pandemic were exhausted and corporate borrowing conditions tightened dramatically after the benign post-global financial crisis era of low interest rates.
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White papersUS cements itself as the global centre of tech innovation
The US technology sector’s vigour is showing no signs of abating given 2023’s superior performance has firmly spilled into 2024. Last year the Nasdaq delivered a total return of 45% and 2024 quickly witnessed the tech-heavy index hit new highs bolstered by excitement around the tech sector, while the wider S&P 500 also reached a fresh peak.
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White papersWhy Allocate to Private Credit in Your DC Pension Plan?
Saving for a pension isn’t getting any easier. But allocations to private assets—such as private credit—could help. It’s getting harder for UK defined contribution (DC) savers to accumulate realistic amounts of capital for their retirement.Prospective real returns from most asset classes look unlikely to match those of recent years. And the cost-of-living crisis is making it tougher for savers to maintain their current pension contributions, let alone increase them in future. How can DC savers get ahead?
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White papersGlobal Investment Views - July 2024
Inflation trends, central banks and geopolitics to drive markets
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White papersThe path to building an efficient private debt portfolio
The private debt market has grown significantly over the past decade and has become an increasingly important allocation for pension portfolios. This development has increased the complexity of portfolio construction. Klarphos, an alternative asset manager specialising in customised portfolio solutions for institutional clients, manages appx. €2.5 billion in total assets, of which more than half reside in private debt. In this interview, we examine how pension funds can strike a balance between maximising returns and effectively managing risk by using private debt as an all-weather solution.
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White papersFrontier markets: select opportunities in local bonds
After facing a number of shocks, select frontier local markets are looking more attractive thanks to a combination of large exchange rate devaluations, tighter monetary policies and increased external financing.
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White papersA fine time to lock in higher bond yields
Thinking about duration in investment grade credit hasn’t been top of clients’ minds in recent years – with good reason. Bond yields have been exceptionally low, with the Sterling five-year corporate bond yield falling from around 4% in the middle of the previous decade to almost 1.5% by the end of 2020.
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White papersGlobal Macro Outlook: Third Quarter 2024
There’s more evidence that growth is slowing, but it appears manageable and unlikely to lead to recession. While rate cuts have begun outside the US, we expect the Fed to follow suit by December. Political developments, especially the election cycle, are now coming into frame.
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White papersViva México: hola! to logistics and industrials
Mexico is a key area of growth for industrial and logistics real estate. We explain why.
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White papersSeeing the market as it is (not as we wish it to be)
“You take the blue pill—the story ends, you wake up in your bed and believe whatever you want to believe. You take the red pill… all I’m offering is the truth.”
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White papersEquity Outlook: Making Way for the Magnificent Others
Despite narrow market concentration, we see opportunities in high-quality stocks that haven’t yet been rewarded. Global stocks posted healthy gains in the first half of 2024, although second-quarter performance moderated from the previous quarter’s breakneck pace. With inflation still sticky and equity returns concentrated, the time may be right for investors to broaden their horizons.
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White papersThe future of green premia in real estate (part two): Searching for value and resilience
Do energy-efficient buildings have more pricing power, and what could that mean for those investing in the built environment? We bring together the views of leading capital markets researchers, a valuer and an asset manager for the second part of our deep dive into green premia, analysing the investment implications.
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White papersPrivate credit: Europe versus the US
Estimates suggest the private credit market will double in value over the next 5-years. It’s attractions remain as strong as ever: potential inflation protection, diversification, potentially attractive risk-adjusted returns, and volatility reduction. With Europe and the US dominating almost 90% of the market, what are the key differences between these regions and where should investors set their focus?
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White papersPowering the future: the strategic role of data centres in the AI evolution in Europe
Data centre demand is surging, driven primarily by the rapid evolution of AI technologies. In PIMCO’s view, this represents a significant opportunity for investors in European data centres.
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White papersIndian bonds go global
Indian government bonds have gained attention recently due to their inclusion in a leading emerging markets bond index starting from 28 June. This key milestone has sparked renewed interest from global investors.
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White papersIn conversation with Fabiana Fedeli
An ‘optimist who plans for the worst,’ Fabiana was named one of the 100 Most Influential Women in Finance in 2022 by Financial News. Here, M&G Investments’ Chief Investment Officer for Equities, Multi-Asset and Sustainability, tells Antonia Oprita about her love for markets and why she thinks of herself as a ‘data junkie’.
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White papersCollectors vs. selectors & the growing presence of direct lending megadeals
Where does the direct lending market end and the broadly syndicated market begin? With the growing prevalence of mega direct lending deals, the answer is less straightforward than it was even a few years ago.
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White papersRethinking covenant monitoring for a new era of private credit
Private credit is enduringly popular among institutional investors, but the landscape has changed significantly over the past decade. To navigate it safely, LPs need to ensure their GPs are prepared to monitor covenants closely.
