All White papers articles – Page 343
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White papersQuantitative Science—Actively Adding To Fixed Income Decisions
Quantitative vs. active debate? This Fixed Income Markets explains how our “active quant” approach sets us apart.
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White papersConnections and communities
Today, a handful of urban centres are pulling away from their rivals – creating more innovation, more growth and more jobs. Those changes have deep implications; understanding them and what they mean for local communities takes joined-up thinking.
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White papersCapitalizing on an inefficient market - The case for active REITs
When it comes to choosing ‘active’ versus passive management in REITs, the proof of ‘why active’ is in the results.
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White papersHow Will Technological Disruption Strike Next?
Investors have been scrambling to identify industries about to feel the brunt of all those dynamic forces that have gained momentum since the emergence of the Internet in the late 1990s.
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White papersEarnings Kick Into Gear as Brexit Drama Heightens
With 34% of the S&P 500 reporting earnings, so far profits aren’t as bad as expected; risk of a no-deal Brexit recedes and positive signs from the U.S.-China Trade War.
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White papersThree Reasons to Invest in Risk Assets… & Five Risks
Markets still have room, but the clouds are gathering. Last year’s scars remain fresh for many investors as they navigate toward the end of the year.
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White papersAre Private Equity Blowouts Good for Stock Investors?
There’s growing evidence that private equity markets are beginning to overheat after several high-profile IPO flops. Investors in stocks should pay attention because private funding troubles are also a very public market affair.
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White papersThe Real Story Behind the CMBX.6: Debunking the Next "Big Short"
The CMBX.6 has become such a popular short by speculators placing bets on mall closings that it has been profiled in the media as the next “big short.” But the narrative of the dying regional mall conceals other realities. In fact, the American mall is evolving to meet modern consumer demands. And thanks to the specific property composition of the CMBX.6, the loan losses in its collateral pool will likely be modest. As a result, returns on the CMBX.6 are likely to be far higher than short sellers expect.
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White papersStewardship: the 2020 vision
We call for a seismic change in the way the investment management industry operates: from one that has for too long focused on short-term returns, at the expense of sustainable wealth creation. In our view, successful stewardship needs to be at the heart of business purpose and inextricably linked to investment decision-making. In order for this to happen, we need a “new normal” in the relationship between asset manager and the companies in which they invest.
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White papersPowering the future: how demand for renewables is disrupting energy markets
From the cost of renewables to exciting new technologies, we discuss the disruptive power of renewable energy.
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White papersA case for commercial mortgage-backed securities
Years of accommodative central bank policy and slow economic growth have pushed yields down and asset values up. Mounting growth concerns and a transitioning global economy will only add to the challenges for investors.
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White papersA High-Income Survival Guide for Late-Cycle Markets
It’s easy to get spooked in late-cycle markets. But we think there’s a way to de-risk your portfolio and still generate a decent level of income—no magic spells necessary.
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White papersPositioning Across Asset Classes as Global Risks Mount
As global economic growth enters a period of likely protracted weakness, investors should revisit their exposures. From a multi-asset perspective, focus on surprisingly resilient high-yield credit and higher quality equities, while reducing exposure to parts of the market that are most vulnerable to trade tensions.
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White papersHigh yield: where the income continues to flow
High yield debt is one of the few markets offering positive real income.
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White papersBarometer: Struggling for inspiration
European stocks are a bright spot in an otherwise uninspiring equity market.
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White papersInvestment Grade: Stable Fundamentals with Hints of Wear & Tear
IG fundamentals held up relatively well in Q3, despite dampened sentiment and growing macro uncertainty. Spreads were unchanged, but may move wider before year-end.
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White papersStructured Credit: Engaging Risk Tactics
Deal flow remained steady in Q3, keeping primary market spreads range-bound. Against a backdrop of low global interest rates, we have seen increasing investor interest in European CLOs.
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White papersEmerging Markets Debt: Taking a Hard (Currency) Stance
EMD performance was muted in Q3, but valuations remain attractive and emerging economies are growing at a measured pace. We continue to favor hard currency assets, which are benefitting from lower rate expectations.
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White papersHigh Yield: Poised to Capture Relative Value
Despite mounting uncertainty in the broader markets, high yield delivered broadly positive returns in Q3. As we continue to move through the late stages of a prolonged cycle, credit selection will be critical.
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White papersIG CLOs: Strong Excess Return Potential, Lower Volatility
IG CLOs can offer investors the benefits of spread pick-up and lower mark-to-market volatility, largely due to underlying collateral performance and structural security. But above all, manager selection is critical—even at the highest-rated tranches.
