The climate crisis becomes real

The climate crisis becomes real

🕔11:58, 29.Oct 2021

Global Sustainable Outcomes: There’s only one way to summarise Q2: a world divided. In North America and Europe economic recovery exceeded expectations as successful vaccination programmes supported market reopening. Here in the UK we emerged from a bleak winter of

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China: the landscape has changed

China: the landscape has changed

🕔10:14, 29.Oct 2021

Many will cite the suspension of the Ant Group IPO in November, 2020 as kicking off the crackdown on China’s ‘Big Tech’ companies and presaging the July, 2021 crackdowns across a wider range of industries. However, the regulatory foundations for

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Confidence in storm-hit China should return

Confidence in storm-hit China should return

🕔09:57, 29.Oct 2021

Market weekly: Investors with China exposure, or an appetite for it, face a raft of issues ranging from slower growth, which may or may not be condoned by Beijing, to toughened and expanded clampdowns on sectors. Add in persistent Sino-US

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Europe: reasons for optimism…and caution

Europe: reasons for optimism…and caution

🕔09:01, 29.Oct 2021

The European economic recovery is well under way: gross domestic product (GDP) growth in Europe’s major economies was stronger than expected over Q2, notably in Italy and Spain. As European economies are opening up, services activity has recovered sharply, boosted

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Libor Transition: How much longer must we ‘sofr’ from libor-linked securities?

Libor Transition: How much longer must we ‘sofr’ from libor-linked securities?

🕔08:17, 29.Oct 2021

In March of this year, regulators across multiple jurisdictions made a well-orchestrated announcement that all non-USD LIBOR rates would be discontinued at the end of 2021. However, and much to the relief of market participants in the US, this announcement

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Strong week for global equities

Strong week for global equities

🕔15:38, 28.Oct 2021

Weekly Economic Perspectives:  The Fed is poised to taper asset purchases imminently. Although language in the September meeting minutes maintained some optionality between mid-November and mid-December as start points, we suspect the earlier timeline is more likely. There really is

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China-US monetary policy divergence – Implications for Asia

China-US monetary policy divergence – Implications for Asia

🕔12:55, 28.Oct 2021

Diverging macroeconomic policies in China and the US have created market volatility recently amid concerns that China’s growth slowdown could spill over into Asia and a less generous US central bank could mean tighter US dollar liquidity for …

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Weekly market update – US earnings: A tough act to follow

Weekly market update – US earnings: A tough act to follow

🕔12:14, 28.Oct 2021

In recent quarters, US companies handily beat consensus earnings estimates as the economy reopened and earnings were compared to the weakness in the 2020 lockdown periods. This neat showing was always going to be a tough act to follow, particularly

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De strijd tegen Delta

De strijd tegen Delta

🕔11:00, 28.Oct 2021

Hoewel de verspreiding van de nieuwe Delta Covidvariant de wereldeconomie heeft verstoord, zouden stimulansen en vaccinatieprogramma's een sterke groeivertraging moeten voorkomen. De economische groei is de afgelopen maanden duidelijk vertraagd, grotendeels door de verspreiding van de bijzonder besmettelijke Delta-variant van

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ETFs in EM local debt: Do they work?

ETFs in EM local debt: Do they work?

🕔08:34, 28.Oct 2021

In recent years we’ve seen a surge of interest in exchange traded funds (ETFs) as a cost efficient and effective way to try and replicate market index performance. But are ETFs as effective as investors think? As part of our

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Incorporating ESG into US equity benchmarks

Incorporating ESG into US equity benchmarks

🕔09:01, 27.Oct 2021

Investors who want to incorporate ESG considerations into a broad US market passive portfolio have traditionally had to accept a certain (often high) level of deviation from the risk and return characteristics of the underlying benchmark. 

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We cannot live without water. Nor can investors

We cannot live without water. Nor can investors

🕔08:52, 27.Oct 2021

Video: Water is a limited resource – yet demand keeps growing. At the same time, climate change greatly affects the availability and quality of clean water through droughts and floods. Given that water …

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Sector & Equity Compass Q4 2021

Sector & Equity Compass Q4 2021

🕔05:08, 27.Oct 2021

Flows Overview. Demand for equities remained positive through last quarter, even as the market became more volatile. ETF investments showed net inflows into the majority of categories. Institutional investor flows showed different trends to sector ETFs in their pursuit of

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Q&A: what we’re watching given the current state of China

Q&A: what we’re watching given the current state of China

🕔04:21, 27.Oct 2021

As the world’s largest emerging market, China is always on our radar. However, the recent news of property developer China Evergrande Group has prompted fear in the markets over contagion. Here’s what we’re saying about the current situation. 

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Chi on China

Chi on China

🕔00:20, 27.Oct 2021

China bans Bitcoin, embraces dlt with ESG implications We don't have to sacrifice a strong economy for a healthy environment. Dennis Weaver  SUMMARY China’s renewed crackdown on bitcoin aims at tackling the country’s problems of power shortages, climate control, creeping

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Is India the next great convergence story?

Is India the next great convergence story?

🕔21:22, 26.Oct 2021

India has been a favourite of emerging market investors for many years. In fact, according to survey data, a majority of mutual fund managers have favoured India more or less since …

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Beware nitrous engine damage

Beware nitrous engine damage

🕔16:45, 26.Oct 2021

Will price hikes be the next S&P EPS leap?: Beware nitrous engine damage This earnings season, we expect S&P 500 companies to beat analyst earnings estimates by more normal amounts; by roughly 5% in aggregate, not 20%+ like the last

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A new normal that looks uncomfortably familiar

A new normal that looks uncomfortably familiar

🕔14:14, 26.Oct 2021

Advanced Economies Outlook Q4 2021: The first signs of a slowdown in the remarkable pace of the global economic recovery have emerged. Still, a slow but steady normalisation in advanced economies implies a continuation of above-trend economic activity expansion. Vaccination

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US: The Great Normalization

US: The Great Normalization

🕔12:29, 26.Oct 2021

The long-term outlook for the US economy calls for peak cycle growth occurring in the summer of 2021 and then a continued moderation towards more trend-like levels over time. This positive growth runway is the flip side of the pandemic-driven

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Mandating ESG disclosures really makes a difference

Mandating ESG disclosures really makes a difference

🕔10:37, 26.Oct 2021

As the dangers of environmental, social and governance (ESG) risks have been broadly explored and acknowledged, many countries have imposed mandatory rules on companies to report more information on these issues in their financial disclosures or standalone sustainability reports. One

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Credit events in China (I) – The macroeconomic impact

Credit events in China (I) – The macroeconomic impact

🕔15:05, 25.Oct 2021

Financial market observers have drawn parallels between the recent credit events in China[1] and past crises such as the 2008 US subprime crisis triggered by the collapse of US investment bank Lehman Brothers and the 1998 collapse of hedge fund

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Baidu on AI, Autonomous Driving, and An Open Internet Marketplace

Baidu on AI, Autonomous Driving, and An Open Internet Marketplace

🕔11:58, 25.Oct 2021

China Internet Recent Highlights The rollout of new regulations for internet firms in China has led to investor uncertainty and market volatility. New regulations cover a wide range of issues from monopolistic practices to financial risk from online lenders, data

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Klimaatmaatregelen: De belangrijkste keuzes in de geschiedenis van de mensheid

Klimaatmaatregelen: De belangrijkste keuzes in de geschiedenis van de mensheid

🕔11:44, 25.Oct 2021

De klimaatmaatregelen waar beleidsmakers voor staan zijn misschien wel de belangrijkste keuzes in de geschiedenis van de mensheid.   Ook in Nederland is het dit jaar met de wateroverlast in Limburg te merken dat er allerlei weerrecords worden gebroken. De

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Weekly investment update – Stagflation chatter

Weekly investment update – Stagflation chatter

🕔10:26, 25.Oct 2021

Domestic energy supply shortages in Europe and dependence on volatile global markets are contributing to record gas prices across the continent. In the US, the latest inflation data is further testing the US Federal Reserve’s hypothesis that …

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Above the cloud: investment opportunities across the value chain

Above the cloud: investment opportunities across the value chain

🕔14:48, 22.Oct 2021

Every prior industrial revolution has had a catalyst followed by transformational change. Steam enabledmechanisation in the first industrial revolution,electricity led to mass production in the second, while technology droveautomation in the …

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Klimaatverandering: de kosten van actie zijn veel kleiner dan de prijs van niets doen

Klimaatverandering: de kosten van actie zijn veel kleiner dan de prijs van niets doen

🕔10:59, 22.Oct 2021

In Nederland is er dit jaar weinig van te merken, maar ook dit jaar worden allerlei weerrecords gebroken. Terwijl ons land nog een koud voorjaar achter de rug heeft – met zelfs de koudste aprilmaand sinds 1986 – werd het

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Asia: Long road to reopening amidst stark regional divergences

Asia: Long road to reopening amidst stark regional divergences

🕔10:46, 22.Oct 2021

Travel restrictions have remained in place in Asia, as markets in Europe and North America have gradually moved towards reopening over the summer. This took place even against the backdrop of rising COVID-19 cases. The justification behind …

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China is making good RI progress, despite its contradictions

China is making good RI progress, despite its contradictions

🕔09:26, 22.Oct 2021

China is a double-edged sword: it is the world-leading renewables developer, installing more than double the gigawatt (GW) capacity of its nearest competitor over the past decade both in terms of wind and solar power (Figure 1), but at the

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The long road to sustainable development goals for sovereigns

The long road to sustainable development goals for sovereigns

🕔08:44, 22.Oct 2021

The resolution was adopted by the General Assembly and agreed upon by the 193 Member States of the United Nations, with goals to transform our world by 2030. All countries and stakeholders, acting in collaborative partnership, will agree to 17

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What you need to know about polysilicon and its role in solar modules

What you need to know about polysilicon and its role in solar modules

🕔14:23, 21.Oct 2021

What is polysilicon, what is its role in solar panels and are there any social and governance concerns around its production? Here is a primer. Polysilicon, a high-purity form of silicon, is a …

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A Disciplined Investment Approach in Pursuit of Compounding

A Disciplined Investment Approach in Pursuit of Compounding

🕔12:41, 21.Oct 2021

Avoid complacency when seeking to buy and hold durable growers.  The strategy’s largest holdings and sector allocations bear little resemblance to where they stood two decades ago, a reminder of the massive changes that have taken place in the global

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A strategic policy shift and the outlook for China’s private sector

A strategic policy shift and the outlook for China’s private sector

🕔10:09, 21.Oct 2021

What should investors make of the flurry of regulatory tightening that China has implemented since the second half of 2020? How do the measures fit into China’s central strategy as it seeks to strengthen its domestic sector and embarks on

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Money Monitor: September 2021

Money Monitor: September 2021

🕔10:05, 21.Oct 2021

In our Money Monitor report, we provide a comprehensive flow analysis in European open-ended funds and ETFs. We also look at the main investment trends observed over the past month. Key takeaways: September proved challenging for investors. They faced increased

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Burning US$5 bills

Burning US$5 bills

🕔08:03, 21.Oct 2021

Allocation views When faced with tough choices, we are inclined to limit the damage that is suffered. This is human instinct—a survival mechanism of sorts. It also brings to mind an old quip that portfolio managers use when considering outperforming

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Controlled Deflation of the China Property Debt Balloon

Controlled Deflation of the China Property Debt Balloon

🕔20:26, 20.Oct 2021

Beijing’s policy actions in the property sector seem to be containing any potential contagion effect. KEY INSIGHTS We are confident that there will be a well‑managed deflation of the debt balloon in the real estate sector and that Evergrande’s troubles

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Markets in September – A case of the seven-month itch?

Markets in September – A case of the seven-month itch?

🕔16:50, 20.Oct 2021

After seven consecutive months of gains, global equities fell by 4.3% in September (the MSCI AC World index in US dollar terms), cropping their year-to-date growth to 9.8%. While emerging market equities posted a similar loss (-4.2% for the MSCI

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AA Q4 outlook: pushing through bottlenecks

AA Q4 outlook: pushing through bottlenecks

🕔14:40, 20.Oct 2021

We are marginally more cautious as the Chinese economy becomes unsettled and supply-chain issues persist, but retain our belief that we are in the middle of the cycle, not approaching the end. After cruising along for months, the S&P 500

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Water: een brandende kwestie voor beleggers

Water: een brandende kwestie voor beleggers

🕔13:45, 20.Oct 2021

“We hebben onvoldoende tijd om de water-, klimaat- en biodiversiteitscrisis stukje bij beetje en één voor één op te lossen.”  Dit zei Sandra Postel, winnares van de Stockholm Water Prijs 2021 tijdens de award ceremonie. Helaas is dit wat er

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The Red Dragon Is Breathing Fire. Will the Rest of World Get Roasted?

The Red Dragon Is Breathing Fire. Will the Rest of World Get Roasted?

🕔10:40, 20.Oct 2021

Voya Multi-Asset Perspectives Multiple forces conspired to reduce the outlook for U.S. and global growth over the last three months. Equity market pricing reset lower in September, as Covid continued to confound health experts and frustrate those anxious to resume

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More Predictably Unpredictable

More Predictably Unpredictable

🕔08:05, 20.Oct 2021

Global Asset Allocation: The View From Europe After a crackdown on internet technology and educational companies last month, risks continue to emerge out of China, including the potential fallout in its massive real estate sector following missed debt payments by

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How to finance the net-zero transition in emerging markets

How to finance the net-zero transition in emerging markets

🕔16:38, 19.Oct 2021

The big emerging question Climate change is a global problem: without a successful transition to net-zero everywhere, climate risk is unmanageable anywhere. Emerging markets (EMs) are essential to the global transition – now accounting for 34% of global carbon emissions

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From Alternative to Mainstream

From Alternative to Mainstream

🕔15:43, 19.Oct 2021

Getting Ready for Growth Many alternative asset managers will have to adjust course to capitalize on greater investor demand, emphasizing bespoke solutions, compelling strategies and greater transparency Strategy and Competition The majority of alternative asset manager respondents expect increased allocations

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Debt ceiling spat takes a breather

Debt ceiling spat takes a breather

🕔14:25, 18.Oct 2021

BII Global weekly commentary We believe the debt ceiling dispute will eventually resolve but could trigger more volatility. The broadening economic restart keeps us tactically pro-risk. U.S. job growth slowed sharply in September, but we see it as unlikely to

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What it means to be a sustainable investor

What it means to be a sustainable investor

🕔11:50, 18.Oct 2021

The natural world is in crisis: We are losing biodiversity – the very fabric of life – at an alarming rate. Investors would do a poor job if they did not seek to preserve the fabric that is at the

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Chinese Bonds: Enhancing a European Fixed Income Portfolio

Chinese Bonds: Enhancing a European Fixed Income Portfolio

🕔10:35, 18.Oct 2021

Executive Summary Improved access for foreign investors to China’s large bond market has started a conversation around the place of Chinese bonds within a global portfolio. Investors are now evaluating whether to make an allocation and, if they do, what

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How can the insurance industry be more sustainable?

How can the insurance industry be more sustainable?

🕔10:30, 18.Oct 2021

The insurance industry needs to think about sustainability through both an underwriting and an investment lens, says ESG analyst Xuan Sheng Ou Yong. Sustainability issues such as climate change have been gaining more attention among insurance companies since they face

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Bitcoin: A Framework for Institutional Investors Considering an Allocation

Bitcoin: A Framework for Institutional Investors Considering an Allocation

🕔15:11, 16.Oct 2021

New research from Fidelity explores bitcoin’s characteristics, potential benefits and risks, and other implementation considerations  KEY TAKEAWAYS We believe bitcoin is an aspiring asset class in a period of price discovery. Like gold, bitcoin is a high-powered, opportunistic hedging asset

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With growth and policy, which matters more: Level or change?

With growth and policy, which matters more: Level or change?

🕔14:18, 16.Oct 2021

Asset Allocation Fourth Quarter 2021 KEY POINTS The level of growth and the level of policy support remain supportive but have declined marginally, leaving us pro-risk still but less so. Within equities, we prefer Europe, where economic fundamentals are improving and

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Give us a good old villain to bring out the best in you

Give us a good old villain to bring out the best in you

🕔11:27, 16.Oct 2021

Investors’ Outlook October 2021 “Envelopes please… and the winner is… Wall Street.” This is the result of our recent allocation review that saw us overweight US stocks at the expense of European ones. The slight change doesn’t alter our overall

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Hout: duurzame én innovatieve belegging

Hout: duurzame én innovatieve belegging

🕔13:55, 15.Oct 2021

Zowel het momentum als de vooruitzichten op lange termijn zijn gunstig voor beleggingen in de brede waardeketen rond hout. Van de aanplanting van bossen tot de verwerking van hout tot enkele van de meest innovatieve materialen.  De Timber-strategie van Pictet

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