Op donderdag 13 juni organiseert Alpha Research een kennislunch met een culinair menu in het Rosarium te Amsterdam met als thema ‘Welcome to the Bond Renaissance’. Tijdens deze lunchbijeenkomst spreken Flavio Carpenzano, Investment Director van Capital Group en Wernhard Kublun Becerra,
Asset Allocatie Consensus Augustus 2020 gaat de boeken in als de maand waarin alle grote Amerikaanse beursindices records breken. Opnieuw was Tech de uitblinker dat als sector een jaarperformance van bijna 25% laat zien. Wall Street overvleugelt daarmee Main Street,
Asset Allocatie Consensus Maart 2020 C o r o n a v i r u s b e g i n t C o n s e n s u s a a n t e t a s t
Coronavirus: what does it mean for investors? Financial markets are reeling as a result of the coronavirus outbreak. While the experience with Severe Acute Respiratory Syndrome (SARS)from some years back suggests calm would be restored soon, good sense and logic
The MSCI Principles of Sustainable Investing The world is rapidly changing and its interdependency and interconnectivity are accelerating at an exponential pace. These significant changes require new approaches to investing that seriously take into account notions of sustainable finance. Holding
Index Dashboard: Europe Despite reaching all–time highs earlier in the month, the S&P Europe 350 finished January with a loss of 1.3%, ending a four–month streak of gains.Weak economic growth in the Eurozone weighed on sentiment, and equities were pulled
Market Review and 1st Quarter 2020 Outlook Market Backdrop Global equities markets advanced solidly in 2019’s final quarter. The S&P 500, MSCI All Country World Index, and MSCI ACWI ex-US all gained nearly 9%, while Emerging Markets climbed 11.8%. Information
Cash is king again! Opnieuw maakte beleggers een relatief rustige maand mee. Ondanks de late fase van de economische cyclus, de handelsoorlog en de eindeloos voortslepende Brexit, blijft de markt blijkbaar van mening dat aandelen momenteel redelijk gewaardeerd zijn en
De consensus over de asset classes blijft deze maand onveranderd, na de opmerkelijke verschuiving bij Equities in mei van ‘overwogen’ naar neutraal. Alle categorieën behouden hun neutrale weging. Met de kanttekening dat binnen deze weging Cash nu beter scoort dan
Beleggers hebben verschillende redenen om te investeren in opkomende markten. In de eerste plaats zijn dat diversifcatievoordelen, hetzij geografsch, economisch of wat betref de risico-rendementsprofelen. Een tweede argument is dat ze kunnen profteren van een hoge bèta als ze op
Following successive years of stock market gains post the Global Financial Crisis (GFC) and the rising duration risk across fxed income assets, many institutional investors have pared back their forward-looking return expectations and have become more focused on managing the
“De vraag naar Senior Secured Loans, of kortweg Loans, is de afgelopen jaren sterk toegenomen. Dat is niet verrassend. Vergeleken met andere vastrentende beleggingen, zoals High Yield, heef Loans een aantrekkelijke propositie. Professionele beleggers zijn op zoek naar hogere rendementen
We introduce a new risk profile of the equity market – a collection of five reliable indicators of market strain – to help identify different risk regimes and associated tail-risk. Conventional risk metrics such as standard deviation, VIX and GARCH
The great majority of EM local currency strategies are confined largely to the 18 countries in the JP Morgan Government Bond Index – Emerging Markets (GBIEM) Global Diversified benchmark, which concentrates risk among the 10 largest issuers. Investors were drawn
In this paper we analyze the problem of multi-factor investing from an active fund-of-fund selector perspective, or investors who seek to achieve a diversified exposure to different factors using liquid, transparent and cost-efficient ETFs. We compare Ossiam’s European ETF with
Executive Summary Known as Wall Street’s “fear gauge,” VIX1 is followed by a multitude of market participants; its levels and trends have become part of the common language of market commentary. Unfortunately, the meaning of a given VIX level is
With so many new leaders put in position over the last six months by President Xi, an overall leader secure in his position and clear on his objectives, 2018 is likely to see much more activity to implement policies, economic
The 2008 financial crisis laid bare the inadequacies in the rules we need for a stable and prosperous global economy. After a long period of stagnation, the world economy is finally strengthening. In 2017, global economic growth approached 3 per
Brookings Conference “Should the Fed Stick with the 2% Inflation Target or Rethink it? Washington, D.C., January 8, 2018
Top 10 Rankings Asset Class Overview &Top 10 Ranking Global Large Cap Equity Global Emerging Markets Large Cap Equity US Large Cap Equity European Large Cap Equity European Small & Mid Cap Equity Asia-Pacific ex Japan Large Cap Equity Japan
“Nimbleness” and “agility” will be the watchwords for emerging markets during 2018. The new year should be a positive one for emerging economies, but one that will bring about more normal patterns in volatility, drawdowns, and defaults – an environment
Many researchers have studied the relationship between companies with strong environmental, social and governance (ESG) characteristics and corporate financial performance. A major challenge has been to show that positive correlations — when produced — provide explanations for the behavior. As
In tegenstelling tot aandelen of bedrijfsobligaties is het niet duidelijk of bitcoins beleggers positieve verwachte rendementen bieden. Bitcoin en andere cryptocurrencies ontvangen een gigantische hoeveelheid media-aandacht, waardoor vele beleggers zich afvragen of deze nieuwe vormen van elektronisch geld een plaats
Unlike stocks or corporate bonds, it is not clear that bitcoins offer investors positive expected returns. Bitcoin and other cryptocurrencies are receiving intense media coverage, prompting many investors to wonder whether these new types of electronic money deserve a place in their
Respondents’ economic optimism and confidence in their companies’ prospects reach a year-long high, though overinflated asset prices are a growing concern. After reporting increasingly positive views on the economy throughout 2017, respondents to McKinsey’s newest survey on economic conditions are
De toenemende interesse voor de impact van fossiele brandstoffen op het klimaat, leidt bij beleggers vaak tot de vraag of en hoe zij hun waarden op het gebied van duurzaamheid in hun beleggingsdoelstellingen kunnen integreren.
Growing interest in the impact of fossil fuels on the global climate often sparks questions from people about whether they can integrate their values around sustainability with their investment goals and, if so, how
Many researchers have studied the relationship between companies with strong environmental, social and governance (ESG) characteristics and corporate financial performance. A major challenge has been to show that positive correlations — when produced — provide explanations for the behavior. As
With the strong gains in global equities in 2017 many are asking whether 2018 can produce similar gains. We think that potential is possible. Although valuation levels in the U.S. appear a little rich, we expect that there could be
2018 Outlook Our Investment Views Stocks will outperform bonds, again. Emerging market equities will outperform developed market equities. European equities will outperform U.S. equities. U.S. growth stocks will outperform U.S. value stocks again. The U.S. dollar will be stable or
Union invest: December 2017 Many market players currently have very similar opinions of the capital markets. The majority of professional investors are now involved in the equity markets, which means sentiment indicators are running high. And although consensus is usually
In 2016, investors asked, “Will India be the next China?” Any response to this question is hypothetical at the current stage of both economies. China is light-years ahead of India and the gap is only widening. India relies on infrastructure
Focus op toekomstige handelsrelatie nu drie knelpunten zijn overwonnen Canadese of Noorse model waarschijnlijk het meest besproken Transitieperiode is een illusie en niemand kent het slotakkoord
Fund selector asset class research Key points Property funds is the most popular asset class with Dutch investors. Next come, GEM, Japanese, Asian and European equities followed closely by EM govvies and commodity funds. Fund selectors are bearish towards US
McKinsey & Company Global banking-industry performance has been lackluster. Now comes the hard part: the rise of nonbanking platform companies targeting the most profitable parts of the banking value chain.
A Postcard From Comgest’s Global Emerging Markets team In recent weeks, the Comgest investment team travelled to South Korea, an “emerging country, largely emerged”. With a population of 50 million people, World Bank statistics show Korea’s GDP per capita of
Dutch Investment Manager Survey 2018 “Neem Asset Backed Securities, Residential Mortgage Backed Securities, Beursgenoteerd Vastgoed en Inflatiegerelateerde Obligaties mee tijdens uw zoektocht naar rendement, kredietkwaliteit, variabele rente, liquiditeit en inflatieafdekking”
Dutch Investment Manager Survey 2018 : Blue Sky Pensioenbestuurders wensen meer dan vroeger ‘in control’ te zijn. Ze willen begrijpen wat er gebeurt en grip hebben op de gang van zaken. De toezichthouder speelt hierin een rol, maar we merken
Dutch Investment Manager Survey 2018 Dit artikel is een hartekreet van Stuart Dunbar, Partner van Baillie Gifford & Co, in Edinburgh over de verwording van de vermogensbeheerindustrie. De vermogensbeheersector lijkt zich vooral te preoccuperen met hoe men ten opzichte van
Dutch Investment Manager Survey 2018 : a.s.r. Vermogensbeheer Naast de portefeuilles met langjarige bewezen track record (o.a. 5 procent deelnemingen en Europese large cap portefeuilles) zijn recent de ESG Index Plus-strategieën geïntroduceerd voor zowel pan-Europese aandelen als Amerikaanse aandelen. Het a.s.r.
Total Assets Under Management (AUM) of the 500 managers included in the ranking totalled US$ 81.2 trillion at the end of 2016, up 5.8% from the end of 2015. BlackRock has retained its position as the largest asset manager in
In an earlier paper about best practices for stress testing market risk factors, we discussed different types of stress tests.1 One of these types, called transitive or predictive, is a correlated stress test. Here a set of core (explicit) factors
Hoewel het valutarendement op de kortere termijn kan fluctueren, is het naar verwachting geen bepalende factor voor verwachte rendementsverschillen over langere tijdsperioden. Veel beleggers kiezen bij het samenstellen van hun portefeuille voor een wereldwijde aanpak om hun beleggingsdoelstellingen te bereiken.
Trends in us institutional ownership and active share One of the biggest trends in asset management over the last several years has been the acceleration of flows out of active equity strategies, and nowhere has this trend been as pronounced
In the eight-and-a-half years since the lows of the global financial crisis, the Standard & Poor’s 500 Index has climbed more than 250%, making the current bull market the second-strongest— and the second-longest—since 1926 (see Figure 1). The dot-com boom
The Economist Global Outlook
Executive Summary Callan’s 2017 Investment Management Fee Survey—the seventh fee survey we have produced in 30 years—reports on institutional investment management fee payment practices and trends. The data in this report were gleaned from electronic questionnaires sent to a broad
The financial markets’ low volatility underscores investors’ conviction that the long-term global economic trends of modest growth and tepid inflation will also define shorter-term cycles. But risks lie in mistaking the trend for the cycle. The most pronounced risk in
Recently, a major shift has been observed among asset owners who once took a “tokenistic” approach toward environmental, social and governance (ESG) and are now looking to integrate it into core investment strategies. The pensions industry considers ESG themes, including
Economic data has continued to look very encouraging in recent weeks. The only exception to this is the UK, where the Brexit vote is increasingly taking its toll. Otherwise, trends are pointing upwards almost across the board and the International
