Medium and long term expected returns

Medium and long term expected returns

🕔08:13, 28.Feb 2019

Asset Class Views Our approach to expected returns forecasts is model driven. We break down asset class dynamics into a long term component (or trend/fair value), mainly related to macroeconomic variables and a medium-term component, explained by economic and financial

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Corporate Credit Monitor CEE

Corporate Credit Monitor CEE

🕔03:02, 28.Feb 2019

The Corporate Credit Monitor serves to provide readers with a concise overview of the credit profile of selected issuers. This document is continually updated, in order to inform readers about developments relevant to credit ratings in a timely fashion; it

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Bonds are back

Bonds are back

🕔02:11, 28.Feb 2019

Fixed Income Strategy Bonds are making a comeback. They have become a viable source of income, in our view, amid higher U.S. interest rates, a slowing but growing U.S. economy and a pause in the Federal Reserve’s tightening cycle. We

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Is China’s stock turnaround for real?

Is China’s stock turnaround for real?

🕔02:10, 28.Feb 2019

Weekly Commentary We are positive on China’s stock market, even after this year’s rally, but favor a selective approach amid growth and trade risks. Global stocks edged higher last week, while oil prices rose. Meeting minutes confirmed the Fed’s willingness

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Truths and the Future of Active Equity Investing

Truths and the Future of Active Equity Investing

🕔02:10, 28.Feb 2019

Use of index strategies has increased in recent years, but institutional investors globally say that has not diminished the importance of active equity strategies in their portfolios. A survey and interview program with more than 200 institutional investment decision makers

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Eurozone slowdown risks an ECB stalemate

Eurozone slowdown risks an ECB stalemate

🕔02:01, 28.Feb 2019

Monthly Investment Strategy Eurozone economy slowed down from 3% annualised a year ago to 1% now for lots of one-off reasons from a mild winter, to strikes in France and political uncertainty in Italy, or specific issues related to the

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Overcoming the challenges of ESG integration in Chinese A-shares

Overcoming the challenges of ESG integration in Chinese A-shares

🕔14:05, 27.Feb 2019

Tailored ESG integration methodology for Chinese A-shares Powerful tool to spot the winners and losers in domestic market ESG profile coverage for 100% of portfolio and 70% of universe

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Time in the market

Time in the market

🕔10:52, 27.Feb 2019

Weekly Digest Amidst the recent political and market uncertainty it is all too easy to lose sight of the importance of investing for your long term financial wellness. Sophisticated investors are well versed with the “time in the market not

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Time in the market

Time in the market

🕔10:52, 27.Feb 2019

Weekly Digest Amidst the recent political and market uncertainty it is all too easy to lose sight of the importance of investing for your long term financial wellness. Sophisticated investors are well versed with the “time in the market not

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Time in the market

Time in the market

🕔10:52, 27.Feb 2019

Weekly Digest Amidst the recent political and market uncertainty it is all too easy to lose sight of the importance of investing for your long term financial wellness. Sophisticated investors are well versed with the “time in the market not

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Further macro prudential measures in CEE

Further macro prudential measures in CEE

🕔03:02, 27.Feb 2019

Accelerated credit growth in CEE should not cause any headaches. Current growth rates are well below the 20-30% pre-crisis credit growth dynamics. Debt to GDP ratios are also rather low. As interest rates remain low, central banks carried out macro

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Total Portfolio Benchmarking

Total Portfolio Benchmarking

🕔15:02, 26.Feb 2019

Total portfolio-level benchmarking for institutional investment pools can be approached in a variety of ways, based on which goals fiduciaries are attempting to achieve with each comparison. There are different types of benchmarks that can be used to accomplish specific

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Portfolio manager change doesn’t always mean disruption

Portfolio manager change doesn’t always mean disruption

🕔15:02, 26.Feb 2019

Change is inevitable in the asset management industry. The fact that fund managers will move companies or retire is well established. The key is how manager transitions are dealt with, which will have an important bearing on the effect on

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CTAs: Green shoots of recovery?

CTAs: Green shoots of recovery?

🕔13:06, 26.Feb 2019

The Weekly Brief The recent U-turn of major central banks from monetary normalization to renewed accommodation beat market expectations. In particular, the minutes from the FOMC meeting held on 29-30 January suggested the likely ending of the balance sheet runoff

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Is China’s stock turnaround for real?

Is China’s stock turnaround for real?

🕔13:06, 26.Feb 2019

Weekly Commentary We are positive on China’s stock market, even after this year’s rally, but favor a selective approach amid growth and trade risks. Global stocks edged higher last week, while oil prices rose. Meeting minutes confirmed the Fed’s willingness

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Accessing Infrastructure with SPDR ETFs

Accessing Infrastructure with SPDR ETFs

🕔17:02, 25.Feb 2019

Strategy Espresso Over the last decade, demand for infrastructure investments has increased dramatically. Following the Global Financial Crisis, investors have looked to better diversify their portfolios by increasing exposure to assets with low or negative correlation to broader equity markets. An allocation

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US yields capped as Fed takes note of limited market tolerance

US yields capped as Fed takes note of limited market tolerance

🕔13:04, 25.Feb 2019

Focal Point In the January meeting the Fed not only put rate hikes on hold, but also signaled an earlier end to balance sheet unwinding, acknowledging financial market volatility and the risks to growth. We now expect the run-off to

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Don’t Get Too Excited About The Powell Put

Don’t Get Too Excited About The Powell Put

🕔13:04, 25.Feb 2019

Markets may have been a little too quick to price out any further rate hikes Global markets have recovered nicely from last year's panic attack (see Chart of the Week of February 1, 2019). This is all the more remarkable

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Late Cycle vs. End Cycle Investing

Late Cycle vs. End Cycle Investing

🕔13:02, 25.Feb 2019

Asset Allocation Views As the economic expansion aged and volatility increased throughout 2018, consensus shied from viewing the U.S. expansion as likely to continue for the foreseeable future to believing that we are in the late stages. We believe we

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Fixed Income Monthly

Fixed Income Monthly

🕔11:02, 25.Feb 2019

Strategy Summary The FIXED INCOME MONTHLY provides a forward-looking summary of the medium-term views from the Fidelity Fixed Income team. Our investment approach is multi-strategy, with portfolio managers given clear accountability and fiduciary responsibility for all investment decisions in a

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Market Commentary

Market Commentary

🕔09:51, 25.Feb 2019

Viewpoint What a difference a month makes. Following the despair of December, markets made one of their best ever starts to a new year, with virtually all asset classes and markets rising, some very sharply. Many equity markets managed to

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The Green Golden Rule: habit and anticipation of future consumption

🕔01:00, 25.Feb 2019

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Harnessing ESG as an Alpha Source in Active Quantitative Equities

Harnessing ESG as an Alpha Source in Active Quantitative Equities

🕔15:02, 23.Feb 2019

IQ insights At State Street Global Advisors (SSGA), we engage in environmental, social and governance investing (ESG) across a broad range of asset classes and investment styles. Approaches range from the screening of ESG themes to the full integration of

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Incorporating low volatility equity into a strategic allocation

Incorporating low volatility equity into a strategic allocation

🕔15:02, 23.Feb 2019

Executive summary Low volatility equity strategies aim to provide market-like returns with significantly lower risk. They look to accomplish this by offering downside protection and meaningful upside participation. Given their defensive nature, investors want to know whether low volatility strategies

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Understanding & Comparing Esg Terminology

Understanding & Comparing Esg Terminology

🕔15:02, 23.Feb 2019

A Practical Framework for Identifying the ESG Strategy That Is Right for You According to a survey of 475 institutional investors titled “Performing for the Future,” more than half of institutions that have adopted environmental, social and governance (ESG) investing

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China and the US soon to reach agreement on trade issues?

China and the US soon to reach agreement on trade issues?

🕔03:07, 23.Feb 2019

Week Ahead Next week will see the end of the 90-day period granted by the US to the Chinese leadership to make progress on the trade dispute at the negotiating table. Should the talks fail, the US threatens to raise

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Commodities ― a phoenix rising from the ashes

Commodities ― a phoenix rising from the ashes

🕔14:04, 22.Feb 2019

Commodity Monthly Monitor Following the reopening of the United States (US) Government after its shutdown, this report covers a period of three months. A lot has happened in that time frame. The market has been operating without data from both

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Chinese Yuan

Chinese Yuan

🕔14:04, 22.Feb 2019

Chinese Yuan

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The EM currencies strike back?

The EM currencies strike back?

🕔14:04, 22.Feb 2019

Emerging markets monitor The growth deceleration in emerging markets will be much less pronounced than in DM according to our leading indicators. This growth gap in favour of EM supports a recovery in EM currencies.

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Investment Event May’s Brexit strategy undermined

Investment Event May’s Brexit strategy undermined

🕔13:02, 22.Feb 2019

Where are we with Brexit? Following the UK Parliament’s overwhelming rejection of UK Prime Minister (PM) Theresa May’s withdrawal agreement in mid-January, the government has been attempting to renegotiate the deal with the EU. In particular, the focus of these

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Asset Allocation Strategy

Asset Allocation Strategy

🕔13:02, 22.Feb 2019

Central banks have calmed markets down Central banks are continuing to dictate market momentum and never more spectacularly so than in January. The fourth quarter market crash occurred after the Fed had confirmed that its balance sheet shrinkage and rate-hike

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Is it time to return to gold and the gold sector?

Is it time to return to gold and the gold sector?

🕔13:02, 22.Feb 2019

Conclusion The asset class linked to gold is generally not the most attractive (no returns on metals, company dividends quite small) and is thus often limited to specialists or investors who have experienced serious financial crises and who understand the

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Fixed Income Asset Allocation Insights

Fixed Income Asset Allocation Insights

🕔13:02, 22.Feb 2019

The Fed’s Patience Casts a Glow on Credit Markets  Amid a backdrop of progress on US-China trade talks, stable or better-thanexpected corporate earnings, and most important, a dovish pivot by the Federal Reserve, the first five weeks of the year

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Emerging Market Debt Update

Emerging Market Debt Update

🕔13:02, 22.Feb 2019

Growth Fears Temper the Rally The rally in emerging market (EM) assets paused this week as disappointing European data and mounting evidence of a slowdown in global capital expenditures stoked investors’ fears around the resiliency of the current expansion. Oil

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Multi-Asset Solutions Weekly Strategy Report

Multi-Asset Solutions Weekly Strategy Report

🕔13:02, 22.Feb 2019

A walk on the wild side Well, that was a wild ride: The worst December for the S&P 500 since 1931, followed by the best January since 1987 – all helped along by a sharp volte face from the Federal

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Global Macro Update

Global Macro Update

🕔13:02, 22.Feb 2019

Notes from a Region of Depressed Expectations Paltry data and frustrations in Brussels make for a dreary eurozone outlook, although US/China trade talks provide some hope for markets.

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Economic Update

Economic Update

🕔13:02, 22.Feb 2019

Growth The third and final estimate of 3Q U.S. GDP growth dipped 0.1% from the prior estimate to 3.4% q/q saar, decelerating from the 4.2% pace in 2Q. The estimate was revised down due to weaker personal consumption expenditures (PCE)

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Beijing at the helm

Beijing at the helm

🕔13:02, 22.Feb 2019

Weekly Bond Bulletin China’s monetary and fiscal efforts to manoeuvre a soft landing and cope with pressure from increased trade tensions are beginning to pay off. What are the broader implications?

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Traditional and Alternative Factors in Investment Grade Corporate Bond Investing

Traditional and Alternative Factors in Investment Grade Corporate Bond Investing

🕔08:16, 22.Feb 2019

Abstract The concept of factor investing and the debate around passive and active management has emerged since the end of the 2000s and has completely changed the landscape of equity investing. Today, institutional investors structure their strategic equity allocations essentially

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Eurozone slowdown risks an ECB stalemate

Eurozone slowdown risks an ECB stalemate

🕔02:01, 22.Feb 2019

Monthly Investment Strategy When unfavourable one-offs and soft patches last, later becomes never 

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Eurozone slowdown risks an ECB stalemate

Eurozone slowdown risks an ECB stalemate

🕔02:01, 22.Feb 2019

Monthly Investment Strategy Exploring the Risk Scenario of No Monetary Normalisation

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Allocation insight

Allocation insight

🕔01:02, 22.Feb 2019

Market themes for the next 12 months First the good news. A year ago, the return expectations on liquid investments were very low, US monetary policy was tightening and the mood of investors was, on average, very positive concerning the

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1Q 2019 Investment Outlook

1Q 2019 Investment Outlook

🕔01:02, 22.Feb 2019

Executive Summary Global economic growth slows down US interest rate peaks Trade tension between China and US softens Equities valuation sees mean reversion 

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Monthly Asset Allocation

Monthly Asset Allocation

🕔01:02, 22.Feb 2019

In a nutshell In the context of a mixed mandate, we temporarily reduce the risk at an asset allocation level We reduce our overweight in equities and take a more defensive position at portfolio level Gold as an "anti-dollar" has

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Think Like an Owner

Think Like an Owner

🕔01:02, 22.Feb 2019

On the Markets Business managers are always looking for ways to maximize the value of the firm. One way to do that is to encourage everyone to think like an owner. After all, if employees are thinking like an owner

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Market volatility spikes

Market volatility spikes

🕔01:02, 22.Feb 2019

Investment Monthly – January 2019 We upgrade European high-yield corporate bonds from underweight to neutral Current valuations suggest to us that the best way to “back growth” remains through global equities 

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Mars or mercury redux: the geopolitics of bilateral trade agreements

🕔01:00, 22.Feb 2019

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Two sides to the U.S. dollar story

Two sides to the U.S. dollar story

🕔14:05, 21.Feb 2019

Weekly Commentary We see room for ongoing U.S. dollar strength versus most developed market peers and further depreciation against EM currencies. Global stocks rose on hopes of progress in U.S.-China trade talks. Lower oil output in January pushed oil prices

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A justifiable rally

A justifiable rally

🕔13:02, 21.Feb 2019

It’s surely a coincidence that the recent market rally occurred during the partial shutdown of the U.S. government. More conventional rally catalysts were the over-sold conditions created by excessive pessimism about growth and a dovish shift from the Federal Reserve.

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Monthly Market Monitor

Monthly Market Monitor

🕔13:02, 21.Feb 2019

Eaton Vance Monthly Market Monitor presents a concise review of economic and asset class data through clear and impactful charts. Providing timely information across a broad array of markets and investment topics, this guide serves as a helpful resource in

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