All White papers articles – Page 331
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White papers
The Behavioural Expert: Bestselling author Cass R. Sunstein on nudging and climate change
The Harvard academic and bestselling author talks to AIQ about the power of social conformity and what behavioural economics can teach us about tackling climate change.
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White papers
European property: a rare source of yield
In Europe, the real estate market is one of the few potentially fertile hunting grounds for long-term investors in search of attractive yields.
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Risk-on, Risk-off & Repeat
Sentiment continues to swing back and forth in the collateralized loan obligation (CLO) market, but bifurcation remains the constant.
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Rates, Rallies & Risks
Investment grade credit markets posted a banner year in 2019; can the good times continue to roll?
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Europe needs new approach to escape economic malaise
With monetary policy seemingly reaching the limits of its effectiveness, another approach is required for the continent to avoid ‘Japanification’. We believe a focus on productive sustainable investment could not only stimulate growth, but also bring about social and environmental benefits
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White papers
Amplified: the future of finance is female
In this episode of Amplified, Aoifinn Devitt, Head of Investment of Hermes Fund Managers Ireland Limited, is joined by Steve Chiavarone, a portfolio manager and equity strategist at Federated Global Investment Management and Louise Dudley, Portfolio Manager, Global Equities at Hermes Investment Management, to discuss research carried out by Chiavarone in his paper ‘Respect – The Ascendancy of Millennials and How the Future of Finance is more female’.
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White papers
Reform: A route to resilience in emerging markets?
Following a series of IMF meetings in Washington, D.C., Carmen Altenkirch and Dariusz Kedziora discuss their views on how reform prospects may shape emerging market debt.
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Focal Point US outlook: a soft landing supported by the Fed
We expect the US economy to cool this year. Growth will likely ease from 2.2% to 1.6% because of the full effect of tariffs becoming effective during the first half of the year. The lagged impact of the 2019 rate cuts and that of the additional reduction we expect for Q2 will engineer a soft landing of the economy, despite still substantial headwinds. The Fed will take big steps to adapt its monetary policy strategy to a low-inflation, low-interest rates world. The broad view of this strategy should be clearer by summer, but the dovish bias it will most likely produce will be welcomed by markets.
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Coronavirus And The Implications For Emerging Markets
Our emerging markets equity team takes a look at the economic and market implications of the coronavirus.
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White papers
Three trends to watch in UK long-income real estate
In an era of low interest rates and rising maintenance costs, the benefits of long-income assets within UK real-estate portfolios are hard to ignore. Tim Perry looks at three key trends that are influencing the UK long-income market.
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Risks Rebalanced - Asset Allocation Committee Outlook 1Q 2020
On Tuesday, January 14, Erik Knutzen, CIO of Multi-Asset Class, Gorky Urquieta, Co-Head of Emerging Markets Debt, and Conrad Saldanha, Senior Portfolio Manager, Emerging Markets Equity, discussed the AAC’s latest views on navigating the current market environment.
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White papers
Stable Growth, Policy in Transition - Fixed Income Investment Outlook 1Q 2020
With a stable economy likely to provide a positive environment for credit this year, shifts in monetary policy could contribute to more frequent volatility in fixed income markets, while political developments will be an ongoing risk.
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White papers
Think global: which markets have the highest risk of retail disruption?
Retail sales are migrating online and away from physical stores, damaging the investment returns of retail property. The process is underway in all developed retail markets, but the pace of migration is uneven.
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White papers
Fiat Money Vs. Cryptocurrencies / Private Vs. Public Digital Currencies…
The first part of this study analysed the competition between USD, RMB and EURO and presented the challenges for China and Europe to develop a genuine international currencies, having the capacity to compete with the USD. However, currency competition goes well beyond the “simple” competition between sovereign currencies (USD, EUR, RMB, JPY, CHF…).
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FX wars vs. Currency Wars USD vs. EUR vs. RMB vs. …
The USD is by far the most important international currency, although declining in recent years, especially as regard central banks’ FX reserves. New currencies have emerged (of which the RMB), central banks diversify their portfolios (especially in Asia), while some “old” currencies gain ground (the JPY and gold, to some extent). Moreover, even if two contenders exist at present (the euro and the RMB), the USD is the only currency to be considered as an international currency as regard all its characteristics: reserve currency, invoicing currency, vehicle currency, reference currency …
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White papers
Strategic Relative Value – Q1 2020
Persistent central bank liquidity and easing geopolitical tensions should support a continued rally in risk assets this year. However, the significant disconnect between elevated valuations and only modest economic growth means risk assets are vulnerable to a deterioration in sentiment so investors should also maintain some defensive positioning.
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White papers
What Can German Equity Investors Expect in the Months Ahead?
While the phase one U.S.-China trade deal may provide a near-term boost for German equities, there are a number of risks on the horizon that could introduce volatility in the months ahead—making stock selection as important as ever.
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White papers
On My Mind: Oops! They Qe’d Again
The US Federal Reserve (Fed) has expanded its balance sheet by about $400 billion since last September. This has reversed more than half of the balance sheet unwinding (about $700 billion), which the Fed had started in October 2017.1 A growing number of analysts and investors have concluded that the Fed is once again engaged in quantitative easing (QE). The Fed denies it.
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White papers
Multi-asset allocation views: Uncertainty clouds the outlook for European assets
Sunil Krishnan considers whether Europe can break out of its economic malaise and the factors investors should watch out for in 2020.