All White papers articles – Page 218
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White papersEvidence of the low volatility anomaly
It is relatively easy to demonstrate the low volatility anomaly – the phenomenon that first came to light half a century ago showing that investing in higher risk equities is not necessarily rewarded with higher returns. Raul Leote de Carvalho explains.
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White papersFarmland and timberland rise up climate agenda
For investors looking to build portfolios that are aligned with net-zero objectives, farmland and timberland have never been so important. Timberland has the potential to be a net negative carbon investment, thanks to the ability of forests to remove carbon from the atmosphere. Farmland’s carbon profile also compares favorably to other types of real assets.
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White papersAsia Pacific Market Perspective 04 2022
Asia Pacific Growth Positive In 2023, Benefit Of China Re-Opening To Be Visible By Q2
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White papersU.S. Economic & Property Market Perspective 04 2022
The Federal Reserve spent much of 2022 attempting to convince financial markets they are committed to controlling inflation, pulling forward the pace of interest rate increases and raising the expected so-called “terminal rate” for overnight borrowing at each of the last five monetary policy meetings of the Federal Open Market Committee (FOMC).
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White papersEscape From Flatland
A two-dimensional, return-and-volatility view of investments may not allow you to see important risks.
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White papersPrivate real estate appreciation moves negative as re-valuation starts
US private real estate returns weakened considerably in 3Q 2022 as higher interest rates continued to have a major impact on market pricing and appraised values. This trend is expected to continue in the remainder of 2022 and into the opening quarters of 2023. This is leading to a dramatic slowdown in returns from the record levels seen less than a year ago.
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White papersA downturn is ahead, but pinpointing when and where is the real question
Around this time last year we expected high yield markets to rebound after an August reboot. However, as at the end of October we were looking at our global high yield benchmark losing 15% from the start of 2022. Against this, we did correctly predict that the global yield market would outperform gilts and sterling credit, and that emerging market debt would be a key area of weakness, delivering returns well below the US and European regions.
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White papersCreditably building into risk positions amid falling markets
A series of bear market catalysts punctuated 2022 – from ongoing supply chain issues to Russia’s invasion of Ukraine, political instability in parts of Europe, rising inflation and higher interest rates. While the economic environment would prescribe taking a step back to crouch and observe as the cycle plays through, government bond and credit valuations tell a different story, writes Gaurav Chatley, a Senior Portfolio Manager for European Credit at M&G Investments.
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White papersEvent summary: Experts eye index investing to tap China’s equity potential
The case for global investors to boost their allocations to China equities is increasingly compelling.
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White papersIG Credit Outlook 2023: Adding balance to portfolios
It has been a difficult year for fixed income in general. Stocks and bonds rarely decline in tandem in a calendar year, and 2022 was the only exception in the 45-year period dating back to 1977.
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White papersPensions investment outlook 2023: New realities, big decisions
Pension fund investors have endured a roller coaster two years. After a strong 2021, 2022 saw record losses on sovereign bonds and a major correction in equities.
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White papersESG Thema – Special COP15 – The Paris moment for biodiversity?
From December 7th to 19th, 2022, the second part of the 15th Conference of the Parties to the Convention on Biological Diversity (COP15) was held in Montreal, Canada. Whereas COP15 was initially supposed to take place in October 2020 in Kunming, China, it was postponed four times due to COVID-19.
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White papersGlobal Investment Views - January 2023
The bear market rally materialised, but strong US November job market data cooled the markets’ dovish narrative, creating a mixed picture for US inflation, given that the service components remain sticky. The Fed, for its part, slowed the pace of rate hikes, but reiterated that its job is far from over. We believe central banks, including the ECB, will be walking a policy tightrope, as risks of mistakes are high.
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White papersEmerging Markets Debt: Springtime in January?
With the inflation and geopolitical fogs around the world dissipating, and a monetary policy pivot potentially in the cards, 2023 is shaping up to be a promising year for emerging markets debt.
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White papersMore Complicated From Here
If you thought this year was difficult, just wait. The good news is that the extreme outcomes investors worried about through most of 2022 look less likely for 2023.
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White papersWhy It’s About to Get Even More Complicated From Here
This year’s choices were hardly simple, but economic policymakers in China, Europe and the United States face much trickier decisions in 2023.
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White papersWhat Jerome Powell Really Wants for Christmas
Jerome Powell surely has a holiday wish list, especially facing a new year of slower growth, rising prices and inverted yield curves.
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White papersReal estate living: A key opportunity of the next cycle?
While living sectors are not immune to the impact of rising interest rates, long-term rental growth prospects remain attractive. Housing is a fundamental need, and the UK’s housing shortage is palpable. Current pressure on yields could therefore create a key buying opportunity.
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White papersTreasury yields fall as the Fed hikes once more
U.S. Treasury yields fell last week. The November U.S. CPI report showed a smaller-than-expected monthly increase. The U.S. Federal Reserve delivered a 50 bps hike as expected, but also included hawkish economic projections that called into question the future of monetary policy.
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White papersHawkish surprise from the ECB
At its December meeting, the ECB hiked rates by 50bp, to 2.0% (deposit rate). The Bank delivered a very hawkish statement. Inflation remains the main concern and top priority.
