A standalone Allocation to China

A standalone Allocation to China

🕔14:27, 16.Jun 2021

The growth in China’s GDP and equity market over the last 30 years has not been matched by its allocation in investor portfolios. Foreign investment amounts to only about 3% of China’s stock market capitalisation, even though the country now

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Positioning for a New Economic Landscape

Positioning for a New Economic Landscape

🕔10:15, 16.Jun 2021

Recovery is on track, but inflation pressures create risks.  The strengthening economic recovery from the coronavirus pandemic appears poised to broaden across regions and countries in the second half of 2021, bolstered by vaccine progress, continued fiscal and monetary stimulus,

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Why emerging markets local currency debt in 4 charts

Why emerging markets local currency debt in 4 charts

🕔08:05, 16.Jun 2021

As emerging markets matured over the last couple decades, many countries began issuing debt, denominated in their respective local currency, rather than US dollars. This has created a valuable sub-asset class worth more than 3 trillion US dollars, alongside US

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The Next (Re-opening) Wave

The Next (Re-opening) Wave

🕔16:54, 15.Jun 2021

Asset Allocation Monthly – June 2021: Investor attention is turning to where economic growth will accelerate next as vaccine rollouts allow more and more economies to reopen. The current leaders, the US and UK, will soon pass the baton to

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Funding Europe’s green infrastructure finance gap

Funding Europe’s green infrastructure finance gap

🕔15:54, 15.Jun 2021

Responsible Investment has witnessed strong growth over the past five years. However, the past six months have seen it embark on a much steeper trajectory. If we take a Google Analytics view on worldwide searches for “ESG” (environmental, social and

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Investment Ideas for the Next 12 Months

Investment Ideas for the Next 12 Months

🕔14:48, 15.Jun 2021

Positioning your portfolio for the risks and opportunities ahead. Investors have rarely experienced such an extraordinary period. Just as the 2020 shutdown of much of the global economy by the coronavirus pandemic was unprecedented, the recovery this year is likely to

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De wereld heeft een veel hogere koolstofprijs nodig

De wereld heeft een veel hogere koolstofprijs nodig

🕔12:10, 15.Jun 2021

De CO2-prijzen kennen tot nog toe geen succes. Maar ze zouden wel eens snel een pijler van de groene economie kunnen worden. De transitie van een economie op fossiele brandstoffen naar een economie op basis van hernieuwbare energie belooft net

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Podcast: Positive Impact Equity | Performance & positioning

Podcast: Positive Impact Equity | Performance & positioning

🕔09:45, 15.Jun 2021

During 2020 the market went through a number of distinct phases from, 1) ignorance of the impending COVID-19 effects (January, February) to, 2) panic (end of February to mid-April) to, 3) the “world will need to change” as a broad

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Video: Ecosystem restoration – Now is the time

Video: Ecosystem restoration – Now is the time

🕔15:30, 14.Jun 2021

Biodiversity and economic activity are closely linked, so biodiversity loss endangers the economy, us and our prosperity. Nature and healthy ecosystems provide ecosystem services ranging from pollination to flood protection worth an estimated USD 125 trillion dollars. That is almost

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Steady as she goes…

Steady as she goes…

🕔11:54, 14.Jun 2021

In credit: We saw some key economic data last week, in what felt like a seasonal lull for a number of European countries given the late May bank holiday and a week of school holidays. In the UK, sterling hit

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Unwrapping the European ETF Industry: 2020

Unwrapping the European ETF Industry: 2020

🕔11:05, 14.Jun 2021

When exchange-traded funds (ETFs) were introduced in Europe in the year 2000 it was hard to predict that these products would write an unbroken success story for more than 20 years. This becomes especially true when one is taking into

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Tourism: How Asia and other emerging markets could bounce back

Tourism: How Asia and other emerging markets could bounce back

🕔09:55, 14.Jun 2021

Tourism has been one of the sectors most affected by the COVID-19 pandemic. Governments worldwide imposed strict movement restrictions and closed borders in the hope of stopping the spread of the virus. According to the United Nation’s World Tourism Organization,

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Infrastructure: predictable yield or secular opportunity?

Infrastructure: predictable yield or secular opportunity?

🕔08:40, 14.Jun 2021

What to do in a negative-yield world? Declan O’Brien, Head of Infrastructure Research and Strategy and Perry Offutt, Head of Infrastructure Americas, give a deep-dive into the evolving and emerging infrastructure sector and the role it can play in investors’

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Digest and rebalance

Digest and rebalance

🕔16:32, 11.Jun 2021

Macro data are increasingly heralding the start of the economic normalization process in regions where the vaccine roll-out has been smooth. In the US more infrastructure spending has been announced. Inflation numbers and expectations have risen, but we see this

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From Alternative to Mainstream – Alternatives Ascending – Chapter One

From Alternative to Mainstream – Alternatives Ascending – Chapter One

🕔14:14, 11.Jun 2021

The specter of market volatility brought on by large-scale events, such as global pandemicrelated lockdowns in early 2020, has had a strong influence on investor approaches to their portfolios. Investors are responding by building resilience into their portfolios to navigate

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Who has the most robust carbon target – ExxonMobil or Chevron?

Who has the most robust carbon target – ExxonMobil or Chevron?

🕔12:09, 11.Jun 2021

Who has the most robust carbon target – ExxonMobil or Chevron? MSCI develops first of its kind framework to assess companies’ decarbonization and net-zero climate targets. NEW YORK – June 2, 2021 – MSCI, a leading provider of critical decision support

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Barometer: Iets minder groei, iets meer inflatie

Barometer: Iets minder groei, iets meer inflatie

🕔10:48, 11.Jun 2021

De economische groei zal weldra vertragen, maar de inflatiedruk kan nog een tijdje aanhouden. Beleggers moeten dus een defensievere houding aannemen.

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Markets – The times, they are a-changin’

Markets – The times, they are a-changin’

🕔09:30, 11.Jun 2021

Having hit a record high in late April, global equities peaked again in May after a choppy spell. Inflation appears to worry investors less now than it did at the start of the year. The latest indicators are beginning to

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What Picasso Can Teach Us About Investing

What Picasso Can Teach Us About Investing

🕔08:42, 11.Jun 2021

Cubism changed art by depicting objects from multiple perspectives. Investors can learn from this approach by looking beyond the narrow confines of the financial industry and seeking a wide range of viewpoints rooted in the real world, argues Tom Coutts,

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Insurers’ portfolios: re-load the income engine, go beyond the traditional investment universe

Insurers’ portfolios: re-load the income engine, go beyond the traditional investment universe

🕔16:37, 10.Jun 2021

US long-term yields have risen in recent months on expectations of strong economic growth fueled by fiscal stimulus. Eurozone long-term government yields have followed this movement in a limited way, as Eurozone economies have been hit hard by the Covid-19

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Duration Hideouts Offer Opportunities as Bond Sell‑Off Continues

Duration Hideouts Offer Opportunities as Bond Sell‑Off Continues

🕔14:14, 10.Jun 2021

Five key themes for an uncertain period in fixed income markets. What’s next for fixed income markets? A sharp rise in government bond yields since late 2020 has left many investors questioning how much further this trend has to run, if

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The world needs a much higher carbon price

The world needs a much higher carbon price

🕔12:19, 10.Jun 2021

Carbon pricing has so far failed to take off. But it could soon become a pillar of the green economy. The transition from a fossil-fuelled economy to one powered by renewables carries the promise of being as transformational as the

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China in the global inflation scare

China in the global inflation scare

🕔10:03, 10.Jun 2021

Markets are worrying about rising inflation, but to date, there has been no evidence yet of ‘demand-pull’ inflation amplifying cost-push pressures, especially in Asia. There is also no sign of a global wage-price spiral. Nevertheless, we believe there are reasons

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US CRE Market Insights – June 2021

US CRE Market Insights – June 2021

🕔08:33, 10.Jun 2021

We believe the forces driving US commercial real estate investment performance are strengthening and supporting expectations for a solid if not impressive recovery from the Covid-19 recession. First quarter National Council of Real Estate Fiduciaries (NCREIF) results were notable with

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Fundamentals spreken in het voordeel van de opkomende markten

Fundamentals spreken in het voordeel van de opkomende markten

🕔14:50, 9.Jun 2021

Activa van opkomende markten presteren goed in een omgeving van stijgende inflatie en sterke groei, zelfs wanneer de rendementen stijgen en de economieën van ontwikkelde markten beter presteren. Nadat de opkomende markten het afgelopen jaar sterk hebben gepresteerd, maken beleggers

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European equities – Closing the gap

European equities – Closing the gap

🕔14:46, 9.Jun 2021

European equities have staged a spectacular rebound: Since their March 2020 low, they are up by more than 60%. So far this year, they have gained more than 13%. Still, there is the perception that the European market has significantly

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The global picture supports a constructive outlook

The global picture supports a constructive outlook

🕔10:15, 9.Jun 2021

News surrounding the pandemic has steadily improved this month, with cases dropping sharply across the US and Europe, and retreating in India. As such, confidence in reopening timetables is increasing, with global growth expectations growing in tandem. More and more

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Why Central Bank Digital Currencies Will Revolutionize Banking

Why Central Bank Digital Currencies Will Revolutionize Banking

🕔09:25, 9.Jun 2021

CBDCs should boost financial inclusion and improve efficiency. Private sector cryptocurrencies— digital assets used as a medium of exchange—have received a lot of public attention in recent years. Now, central banks across the world are exploring the introduction of central bank

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Why active investing is an attractive approach for Japanese equities

Why active investing is an attractive approach for Japanese equities

🕔16:34, 8.Jun 2021

The Bank of Japan’s (BoJ) recent decision to adjust its ETF purchase programme has given investors plenty to think about from the impact on asset prices to the longer term future of the country’s monetary easing policies. In this paper,

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Podcast: European equities: About to catch up (podcast)

Podcast: European equities: About to catch up (podcast)

🕔14:44, 8.Jun 2021

Fund flows to date have massively favoured US equities, but European equities now have considerable scope to catch up as the economic recovery broadens and investors reassess their valuations relative to their more expensive US counterparts. Peter Abbott, European equities portfolio

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Testing the Limits of Reflation

Testing the Limits of Reflation

🕔14:27, 8.Jun 2021

If ever there were a time to champion the mantras of our founders George R. Roberts and Henry R. Kravis to build like and trust, act with integrity, and lead by example, we believe that now is that time. The

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Blue economy: A new twist in an old tragedy

Blue economy: A new twist in an old tragedy

🕔12:30, 8.Jun 2021

Markets and policymakers are finally waking up to the challenges and opportunities of protecting marine ecosystems, while simultaneously promoting sustainable development. It sounds like small fish. Back in 2017, the Seychelles put the finishing touches to a marine conservation scheme

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Focus on Higher-Quality Investment-Grade Corporate Bonds

Focus on Higher-Quality Investment-Grade Corporate Bonds

🕔09:59, 8.Jun 2021

We are finding opportunities to add yield despite narrow spreads. I nvestment-grade corporate bond valuations, measured by credit spreads,1 are expensive relative to history, and fundamental and technical conditions in the asset class are still positive but becoming more fragile.

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Responsible Investment Report 2020

Responsible Investment Report 2020

🕔15:15, 7.Jun 2021

2020 could have been a pause for the growth of the RI industry. Instead, we saw an explosion in interest partly fueled by the resilience of sustainable portfolios to the economic shock we lived through. The effects of the global

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Pictet Asset Management: Groen vastgoed is een aantrekkelijke belegging

Pictet Asset Management: Groen vastgoed is een aantrekkelijke belegging

🕔10:24, 7.Jun 2021

Het internetgebruik en daarmee de data die we up en downloaden neemt alleen maar toe. Hiermee neemt ook de vraag toe naar een gespecialiseerd type vastgoed: het datacenter. Alleen al in Europa zal de datacentermarkt in de periode 2020-2024 jaarlijks

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Digest and rebalance

Digest and rebalance

🕔10:15, 7.Jun 2021

Multi Asset Monthly: Macro data are increasingly heralding the start of the economic normalization process in regions where the vaccine roll-out has been smooth. In the US more infrastructure spending has been announced. Inflation numbers and expectations have risen, but

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Improved First Quarter Index Results

Improved First Quarter Index Results

🕔09:59, 7.Jun 2021

Global Pension Finance Watch – First Quarter 2021: Rising global discount rates during Q1 2021 drove positive first quarter pension index results for all regions. Asset returns were mixed with Brazil, Canada, and the U.K. negative for the quarter which

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Sustainability by Nature

Sustainability by Nature

🕔02:31, 7.Jun 2021

Our biodiversity roadmap: We are in the midst of Earth’s sixth mass extinction event. Approximately 25% of all species on Earth is at risk of extinction by 2050, representing roughly one million species of plants and animals. By the end

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Monthly Index News

Monthly Index News

🕔14:57, 4.Jun 2021

The recently launched DAX® ESG Target Index offers an ESG alternative to Germany’s flagship DAX® that aims to improve the portfolio’s sustainability profile relative to the benchmark through negative screening and ESG scoring integration, and reduce its carbon intensity by

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Dekkingsgraadscan pensioenfondsen – Stabilisatie in mei

Dekkingsgraadscan pensioenfondsen – Stabilisatie in mei

🕔12:44, 4.Jun 2021

Onze inschatting is dat de actuele dekkingsgraad in de afgelopen maand is gedaald met 0.2%-punt door marktbewegingen, om te eindigen op 108.1% per 31 mei. Onze inschatting is verder dat de 12-maands gemiddelde dekkingsgraad is gestegen met 1.3%-punt naar 99.7%.

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Cross Asset Investment Strategy

Cross Asset Investment Strategy

🕔10:36, 4.Jun 2021

We maintain the narrative and probabilities of our central and alternative scenarios. In our central scenario, equities outperform on the back of abundant liquidity, improving fundamentals and accommodative monetary policy. Vaccine-resistant virus variants, hawkish policy surprises and geopolitical tensions are

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Covid-19 index: when might life return to ‘normal’?

Covid-19 index: when might life return to ‘normal’?

🕔08:11, 4.Jun 2021

As one of the world’s largest economies the US is a key focus for investors. With every country attempting to return to normality following the coronavirus pandemic, we are monitoring when US economic activity might get back on track, as

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“ROOM TO RUN” WITH US SMALL-CAP VALUE STOCKS?

“ROOM TO RUN” WITH US SMALL-CAP VALUE STOCKS?

🕔14:43, 3.Jun 2021

We believe small-value stocks have an appropriate role in portfolios with a longterm investment horizon and that many investors may be underexposed to smallvalue stocks today. 

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What do we need to do to decarbonise aviation?

What do we need to do to decarbonise aviation?

🕔13:11, 3.Jun 2021

The aviation industry and its emissions are both projected to grow over the coming decades. What policies and technologies can help limit the sector’s impact on the environment? It’s said that aviation only contributes around 2.5% to global CO2 emissions.

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Podcast: Flash Update on EM Investment Grade Corporate Bonds

Podcast: Flash Update on EM Investment Grade Corporate Bonds

🕔11:56, 3.Jun 2021

Key takeaways: Emerging market (EM) investment-grade corporate bonds appear particularly attractive in a world of very low but rising interest rates This is even more true for non-USD investors, which benefit currently from very low hedging costs As a result,

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China’s vast opportunity set – Best enjoyed undiluted

China’s vast opportunity set – Best enjoyed undiluted

🕔09:13, 3.Jun 2021

Allocations to Chinese equity and fixed income should stand alone rather than be part of global or emerging market strategies for investors looking for diversification and potential excess returns from the vast opportunity set that Chinese financial assets represent. A

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From Crisis to Opportunity

From Crisis to Opportunity

🕔08:43, 3.Jun 2021

The growth approach to income asks investors to look forwards, not backwards. It advocates embracing companies with bright futures – companies that are reinvesting appropriately in their business and paying lower but sustainable dividends. Our belief is that this approach

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Podcast: The sun still rises in the East

Podcast: The sun still rises in the East

🕔13:22, 2.Jun 2021

Assessing opportunities and risks in mainland China: Key takeaways: In a post pandemic world, China offers unique growth prospects China’s share of global asset allocations has increased and the trend is only starting In sharp contrast to many developed markets,

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Happy customers

Happy customers

🕔12:31, 2.Jun 2021

Europe is re-opening. The summer of 2020 is probably going to be the point of reference to gauge the magnitude of the looming economic rebound. The “mechanical recovery” could be spectacular again this year (assuming no bad Covid news). Indeed,

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Sustainability and impact report

Sustainability and impact report

🕔10:52, 2.Jun 2021

A dialogue with investors: At this time last year, we thought we were in the middle of the Covid-19 crisis. In retrospect, it was just beginning. During 2020, many investors and business leaders became amateur epidemiologists, intensely studying transmission curves

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