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Posts From Aegon Asset Management

UK growth prospects rely on the bounce and the silver lining

UK growth prospects rely on the bounce and the silver lining

🕔09:02, 30.Jul 2021

As recovery from the Covid-19 recession appears to be gaining traction, prospects for rebounding economic growth and employment across UK regions and cities is now worth contemplating. Initially, the recovery should revive activity and jobs in the sectors that were

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Lifecycle investing: From theory to practice

Lifecycle investing: From theory to practice

🕔08:00, 26.Jul 2021

The concept of matching asset allocation to an individual’s risk preferences has been around for decades. As the theory developed, the concept of lifecycle investing – varying asset allocation according to an individual’s age – was born. In this article,

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Just a bump in the road?

Just a bump in the road?

🕔10:56, 23.Jul 2021

Despite investor worries about the impact of semiconductor shortages to automotive production and input cost inflation, the automotive industry remains healthy and the evolution of the industry towards electric vehicles remains strong. 

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Pensioenakkoord uitgelegd Deel 6: Solidariteitsreserve

Pensioenakkoord uitgelegd Deel 6: Solidariteitsreserve

🕔14:18, 22.Jul 2021

Vorig jaar zomer hebben het kabinet en sociale partners overeenstemming bereikt over een vergaande herziening van het pensioenstelsel. Dit pensioenakkoord heeft grote gevolgen voor hoe pensioen wordt opgebouwd en wordt belegd. In deze serie bespreken we het pensioenakkoord en de

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Summer rebound

Summer rebound

🕔08:06, 21.Jul 2021

House View  Restrictions are being lifted in the developed world releasing pent-up demand. Fiscal and monetary policy remains hugely accommodative. This will result in high growth figures in the coming quarters. The pandemic is however far from over as variants

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Just a bump in the road?

Just a bump in the road?

🕔14:45, 19.Jul 2021

Despite investor worries about the impact of semiconductor shortages to automotive production and input cost inflation, the automotive industry remains healthy and the evolution of the industry towards electric vehicles remains strong.  After finishing 2019 at roughly 89 million units,

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The growing threat of cyber risk

The growing threat of cyber risk

🕔10:51, 8.Jul 2021

Companies are faced with a difficult decision after a cyberattack has occurred. Paying the ransom has become more expensive over time and it does not guarantee that the cyber criminals will release their grip on company systems, nor does it

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DC pensions: UK and NL experiences

DC pensions: UK and NL experiences

🕔09:26, 7.Jul 2021

In recent years, both the United Kingdom and the Netherlands have introduced significant changes to the way defined contribution (DC) pensions can be accessed. This article examines the changes and reflects on how each country’s DC savers have responded. We

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Rustig vaarwater in juni

Rustig vaarwater in juni

🕔11:45, 6.Jul 2021

Dekkingsgraadscan pensioenfondsen: In deze dekkingsgraadscan vindt u meer informatie over de dekkingsgraad van een gemiddeld Nederlands pensioenfonds. We geven een overzicht van de ontwikkeling van de feitelijke en (12-maands) voortschrijdend gemiddelde dekkingsgraad in het afgelopen jaar. Daarnaast maken we op

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Mid-Year Outlook: US Fixed Income – June 2021

Mid-Year Outlook: US Fixed Income – June 2021

🕔10:45, 5.Jul 2021

Fundamentals have continued to recover alongside vaccination efforts and reduced Covid restrictions, as well as fiscal and monetary accommodation driving increased general economic activity. We expect these factors …

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It’s about time… Timeshare ABS holds steady as vacations resume

It’s about time… Timeshare ABS holds steady as vacations resume

🕔10:41, 25.Jun 2021

As the age-old adage goes, “shame on you if you fool me once, shame on me if you fool me twice.” Timeshare operators learned from their misfortune during the Global Financial Crisis and made substantial changes to their operating models,

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FOMC Update: The ‘Talking about talking about tapering’ meeting

FOMC Update: The ‘Talking about talking about tapering’ meeting

🕔14:53, 24.Jun 2021

As expected, the FOMC maintained its current target range for the federal funds rate of 0.00 – 0.25% following its June meeting. It also indicated it would maintain its current pace of Treasury and agency MBS purchases totaling $120 billion

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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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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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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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Real estate in a portfolio context

Real estate in a portfolio context

🕔14:04, 26.May 2021

Real estate is often a building block within the investment portfolios of institutional investors. As with other asset classes, there are times when real estate is over- or undervalued. In this article, we investigate the use of an econometric model

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How useful are the SDGs?

How useful are the SDGs?

🕔16:02, 17.May 2021

The Sustainable Development Goals (SDGs) were adopted by all United Nations Member States in 2015 as a universal call-to-action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity by 2030. This is a noble

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Commercial Real Estate Investors Revisit Inflation

Commercial Real Estate Investors Revisit Inflation

🕔12:47, 10.May 2021

Investors cite inflation hedging power as one of the primary attractions of property investments.2 This characteristic has been of limited use in recent years given the very low pace of inflation in the US and throughout most developed global markets

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Opportunities and Challenges in a Net-Zero Carbon World – One Year On

Opportunities and Challenges in a Net-Zero Carbon World – One Year On

🕔08:08, 28.Apr 2021

The world runs on energy. Unfortunately for the future of the climate, the current energy system relies heavily on fossil fuels—the primary source of greenhouse gas emissions. Enabled by emerging technologies and rapidly declining costs, the transition from traditional fossil-based

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Danish versus Dutch mortgage investments: How do they compare?

Danish versus Dutch mortgage investments: How do they compare?

🕔14:05, 17.Apr 2021

Danish versus Dutch mortgage investments: How do they compare? Many institutional investors have been attracted in recent years by the potential for high yields on mortgage investments. Exposure to the mortgage market can be achieved in various ways. An interesting

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Pensioenakkoord uitgelegd: Beleggingsbeleid in de nieuwe regelingen

Pensioenakkoord uitgelegd: Beleggingsbeleid in de nieuwe regelingen

🕔14:50, 16.Apr 2021

Afgelopen zomer hebben het kabinet en sociale partners overeenstemming bereikt over een vergaande herziening van het pensioenstelsel. Dit pensioenakkoord heeft grote gevolgen voor hoe pensioen wordt opgebouwd en wordt belegd. In deze serie bespreken we het pensioenakkoord en de gevolgen voor het beleggingsbeleid.

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The vaccine rollout can boost the support driven recovery

The vaccine rollout can boost the support driven recovery

🕔08:37, 15.Apr 2021

The economy remains on pause in many parts of the world, but the vaccine rollout is improving the prospect of normalization and supports a positive medium-term outlook. In the meantime, global economies remain heavily supported …

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Tesla’s governance is stuck in reverse

Tesla’s governance is stuck in reverse

🕔09:51, 8.Apr 2021

We have sold Tesla from our Global Sustainable Equity portfolios, having held the shares since early 2019. This sale follows a downgrade in our internal sustainability ranking.

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Herstel zet door in maart

Herstel zet door in maart

🕔14:02, 7.Apr 2021

In deze dekkingsgraadscan vindt u meer informatie over de dekkingsgraad van een gemiddeld Nederlands pensioenfonds. We geven een overzicht van de ontwikkeling van de feitelijke en (12-maands) voortschrijdend gemiddelde dekkingsgraad in …

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The Bank of Japan – keeping a lid on volatility

The Bank of Japan – keeping a lid on volatility

🕔14:37, 6.Apr 2021

In its meeting last week, the Bank of Japan (BoJ) announced several changes in its monetary policy framework, but also confirmed its policy to keep yields under control. While other government bond markets have seen quite some volatility in the …

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A Texas-Size Storm’s Global Implications for Plastics

A Texas-Size Storm’s Global Implications for Plastics

🕔16:04, 30.Mar 2021

When Covid-19 hit, many producers cut back production and drew down inventories as demand collapsed and the economic outlook was highly uncertain. While demand from cyclical end markets was hit hard, other end markets like …

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The Workforce Housing Sweet Spot Prevails in US CRE Investing

The Workforce Housing Sweet Spot Prevails in US CRE Investing

🕔12:49, 25.Mar 2021

Apartments, along with industrial, are the preferred sectors in 2021 for investors in US property, according to the Pension Real Estate Association, Investment Intentions Survey.1 The case for apartments is welldocumented and well-supported by data from a variety of sources. In the US, apartments have offered investment returns …

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Italy’s Day in the Sun

Italy’s Day in the Sun

🕔15:26, 24.Mar 2021

Italian bonds are in a sweet spot in the market at the moment, but what is contributing to their newfound appeal and will it last? We think there are a couple of reasons why Italian bonds are appealing, but the sparkle may tarnish in a few years’ time. 

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Dekkingsgraadscan pensioenfondsen

Dekkingsgraadscan pensioenfondsen

🕔14:31, 23.Mar 2021

In deze dekkingsgraadscan vindt u meer informatie over de dekkingsgraad van een gemiddeld Nederlands pensioenfonds. We geven een overzicht van de ontwikkeling van de feitelijke en (12-maands) voortschrijdend gemiddelde dekkingsgraad in het …

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On pause… but vaccine rollout brings play closer

On pause… but vaccine rollout brings play closer

🕔10:52, 19.Mar 2021

The economy remains on pause in many parts of the world, but the vaccine rollout improves the odds of normalization and supports a positive medium-term outlook. In the meantime, global economies remain supported by the large stimulus measures from …

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Carbon Capture: Capturing, Storing and using Carbon

Carbon Capture: Capturing, Storing and using Carbon

🕔14:12, 18.Mar 2021

The global economy runs on energy and, by and large, energy still requires greenhouse gas emissions. Energy efficiency can reduce demand; renewables are driving down the cost of carbonfree energy and can be coupled with storage or …

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Big picture update: A birds-eye view of the CRE market

Big picture update: A birds-eye view of the CRE market

🕔15:59, 16.Mar 2021

Year-end data shows that 2020 turned out much better for US commercial real estate (CRE) than many had hoped, with the National Council of Real Estate Investment Fiduciaries (NCREIF) benchmark index delivering a positive albeit low 1.6% total return with the 4.2% income return more than offsetting a negative 2.5% capital depreciation.1 We believe this outcome can be …

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Aegon AM: Can a tobacco firm really be sustainable? Yes, according to flawed ESG ratings

Aegon AM: Can a tobacco firm really be sustainable? Yes, according to flawed ESG ratings

🕔08:52, 15.Mar 2021

Ratings agencies are missing crucial aspects of ESG analysis and taking a top-down approach that leads to perverse outcomes such as tobacco companies scoring highly on ESG factors, says Aegon Asset Management. Euan Ker, Sustainable Investment Analyst at Aegon AM, believes ratings agencies employ …

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The Great Rotation

The Great Rotation

🕔11:57, 12.Mar 2021

The interest rate shock in the US is continuing, with 10-year government bonds now yielding around 1.6%, up with more than 60 bps since the start of the year. The confirmation of the 1.9 trillion USD stimulus bill by the US Senate this past weekend will support the trend of higher yields. Up until now, equity indices have largely shrugged off this sharp move in rates, but their overall performance hides a …

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Video: Multi-Asset Conversations – Episode 3

Video: Multi-Asset Conversations – Episode 3

🕔10:58, 8.Mar 2021

In this latest edition of the Multi Asset Conversations, the team share their thoughts on key currencies and the positive impact the vaccine roll-out has had on the EUR, GBP and USD. They also discuss their views about Emerging Markets, a highly disparate universe where markets need to be treated on their individual merits.

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Not All Property Recessions Are The Same

Not All Property Recessions Are The Same

🕔12:17, 5.Mar 2021

For investors, the recent decline in retail property performance might suggest opportunity for acquiring property at distressed pricing. The challenge for such investors is to identify discounts associated with the Covid-19-induced recession versus discounts associated with the structural distress in

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Dekkingsgraadscan pensioenfondsen: Flinke meewind in februari

Dekkingsgraadscan pensioenfondsen: Flinke meewind in februari

🕔16:30, 3.Mar 2021

In deze dekkingsgraadscan vindt u meer informatie over de dekkingsgraad van een gemiddeld Nederlands pensioenfonds. We geven een overzicht van de ontwikkeling van de feitelijke en (12-maands) voortschrijdend gemiddelde dekkingsgraad in het afgelopen jaar. Daarnaast maken …

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Sustainability & Credit Spreads: From Leaders to Improvers

Sustainability & Credit Spreads: From Leaders to Improvers

🕔10:51, 3.Mar 2021

The shift towards a more sustainable global economy continues to accelerate. At Aegon AM, we believe this secular shift will continue to present opportunities for investors. Entire industries and sectors are evolving as consumers and investors alike demand sustainable solutions, and governments around the world enact regulations to drive sustainability. From …

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The Texas Power Market Crisis

The Texas Power Market Crisis

🕔14:02, 1.Mar 2021

Winter hit with a vengeance in Texas during the week of February 15 significantly impacting electricity production in the state. Extreme cold temperatures in the region affected the entire electric grid leading to massive rolling blackouts. Customers suffered as blackouts persisted, pipes began to burst in homes and power costs spiked for those who could get it and had variable contracts.

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How low can you go?!

How low can you go?!

🕔08:29, 25.Feb 2021

Policymakers globally are increasingly supportive of the climate transition. Europe recently announced its ambitious plan to reduce emissions by 55% by 2030, in line with its plan for climate neutrality by 2050. China has committed to carbon neutrality by 2060, Japan and South Korea by 2050. More than 50% of global GDP is …

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Beschermingsrendement

Beschermingsrendement

🕔15:57, 24.Feb 2021

Deze zomer hebben het kabinet en sociale partners overeenstemming bereikt over een vergaande herziening van het pensioenstelsel. Dit pensioenakkoord heeft grote gevolgen voor hoe pensioen wordt opgebouwd en wordt belegd. In deze serie bespreken we het pensioenakkoord en de gevolgen voor het beleggingsbeleid.

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China is closing the gap, but it is not a superpower on all fronts (yet)

China is closing the gap, but it is not a superpower on all fronts (yet)

🕔13:41, 23.Feb 2021

China has played a very important role – if not the most important role – in the global economy since 2000. Economic reforms and strong growth of the Chinese economy resulted in a global shift of the economic power balance.  During most of the 20th century China’s share of the global economy was …

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ESG-labelled bonds – the carrot and the stick

ESG-labelled bonds – the carrot and the stick

🕔09:33, 22.Feb 2021

One of the pushbacks that investors in fixed income funds often make is: “Can bondholders really influence companies on sustainable issues in the way equity holders can?” It’s a fair question – after all, we provide companies with capital but we don’t own any equity, nor do we have any voting rights. However, to dismiss fixed income investors as mere bystanders would be …

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Podcast: Sustainable investing beyond green bonds

🕔10:55, 19.Feb 2021

What are the key tools for sustainable investing in fixed income? In a recent episode of Refinitiv’s Sustainability Perspectives Podcast, James Rich, senior portfolio manager, outlined different ways to think about investing sustainably in fixed income. Beyond green bonds, learn about the sustainable megatrends and methods for identifying investable themes.

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The inflation spike

The inflation spike

🕔16:29, 17.Feb 2021

The US inflation numbers published this week by the Bureau of Labor Statistics were slightly below consensus at 1.4% for annual headline inflation, basically unchanged from last month. Quite a contrast compared to the latest German and EU inflation numbers, which were …

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The virus is keeping the economy on hold

The virus is keeping the economy on hold

🕔16:25, 16.Feb 2021

The economic rebound slowed in the fourth quarter, after a strong rebound in the third quarter and a very sharp contraction in the first half of the year. Global economies remain supported by the large stimulus measures from fiscal and monetary institutions. The positive vaccine …

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A paler shade of green

A paler shade of green

🕔14:43, 12.Feb 2021

A paler shade of green If only sustainable investing was just about right and wrong; sustainable and unsustainable. Alas, it’s not so simple. Clearly, there are sustainable ‘bad boys’ such as coal companies and weapons manufacturers which sustainable funds do

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Sustainability Alignment in Sovereign Portfolios

Sustainability Alignment in Sovereign Portfolios

🕔10:48, 10.Feb 2021

Demand for sustainable investment solutions continues to grow. The longterm consequences of short-term decisions are becoming clearer for the broad society. From consumers and businesses to governments and investors, we believe a broad secular shift toward sustainability is underway. The concept of responsible investments (RI) is strengthening every year as investors …

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Commercial Real Estate Prospects Post COVID-19

Commercial Real Estate Prospects Post COVID-19

🕔13:15, 9.Feb 2021

The retail and hotel property sectors are bearing the brunt of the Covid disruption: weaker businesses are shuttering, vacancy rates are surging, rent collections are shrinking, property values are dropping, and commercial mortgage delinquencies are rising. Investors in these sectors are struggling to find a …

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Dekkingsgraadscan pensioenfondsen – Geen grote veranderingen in januari

Dekkingsgraadscan pensioenfondsen – Geen grote veranderingen in januari

🕔10:07, 5.Feb 2021

In deze dekkingsgraadscan vindt u meer informatie over de dekkingsgraad van een gemiddeld Nederlands pensioenfonds. We geven een overzicht van de ontwikkeling van de feitelijke en (12-maands) voortschrijdend gemiddelde dekkingsgraad in het afgelopen jaar. Daarnaast maken we op basis van de laatste marktontwikkelingen een projectie van de actuele dekkingsgraad. Ook wordt een gedetailleerd overzicht gegeven van het effect van marktbewegingen in de afgelopen maand.

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