In the research paper "Converging Expectations," UBP delves into the recent reversal of stock and bond market gains due to renewed inflation concerns. The main theme of the text is the convergence of expectations between risky and risk-off assets in
In their latest report, “Monthly Investment Outlook,” UBP provides a comprehensive analysis of the current investment climate. The analysis observes that global equities and bonds were stable in April, as markets adjusted to the liquidity influx subsequent to the US
The article "How to optimise an allocation to credit markets?" proposes a shift from bonds to Credit Default Swap (CDS) indices for investors seeking to optimise their credit market allocations. The argument is that strategies based on CDS indices have
In "UBAM – Positive Impact Emerging Equity | Impact investing in EM: after a challenging first quarter, opportunities are emerging", the document discusses the compelling business case for impact investing in emerging markets, despite the difficulties of the initial quarter.
In the insightful discussion, "UBAM – Positive Impact Emerging Equity | Third anniversary," portfolio managers Mathieu Nègre and Eli Koen celebrate the fund's third anniversary with a reflection on their journey so far. The conversation underscores UBP's pioneering spirit in
The text analyzes the benefits and methodology of implementing barbell strategies in Euro (EUR) fixed income markets. It outlines how an inverted yield curve can present opportunities for creating a defensive risk/reward profile with a yield pick-up. These strategies combine
In "Monthly Investment Outlook: The Global Liquidity Cycle Looks Set To Turn", the author presents a detailed analysis of the current global financial situation. The piece observes that global equities and bonds remained steady in April, amidst worldwide liquidity injections
The article primarily discusses an impending shift in the global liquidity cycle and its potential implications for the economy. It mentions the recent liquidity crisis in the US banking sector and the consequent liquidity injections, as well as the Swiss
-Emerging market (EM) stocks are trading at attractive valuations vs. developed market (DM) stocks -For a similar level of inflation between EM and DM, a higher level of growth is expected in EM -A China rebound should …
UBP's Positive Impact Equity (PIE) fund has welcomed two new co-managers, Charlie Anniss and Adrien Cambonie, who join forces with Rupert Welchman. The addition of these experts will significantly benefit PIE due to their extensive experience in European SMID cap
In UBP's "Flash Update," the author emphasizes the strong business case for impact investing in emerging markets after facing a difficult first quarter. The year began positively, but emerging markets experienced a setback in February before regaining momentum in March.
In a world in which asset managers are struggling to differentiate themselves and outperform their benchmarks, we believe that impact investing provides an answer largely through innovative portfolio construction and we would particularly like to highlight: The results obtained by
In the Monthly Investment Outlook, UBP highlights the stability of global equities and the rally in bonds in March, despite turmoil in the US and European banking systems. Over the past four decades, such financial shocks have been common during
In this report, we explore the meaning of positive nutrition, how achievable global nutritional goals are and, ultimately, how we invest in nutrition that is positive for people and planet. When we examine the nutrition theme, it is evident that
A decline in the ecosystem services that nature provides will initially pose a direct physical risk to businesses as harvests become more unreliable, weather patterns change and pollinators no longer support agriculture. The risk is both event-driven, e.g. flooding or
In February, concerns about inflation caused a partial reversal of gains in the stock and bond markets, leading to a convergence between risky and risk-off assets. Strong US jobs and retail sales data, along with higher-than-expected inflation reports, led to
In a world in which asset managers are struggling to differentiate themselves and outperform their benchmarks, we believe that impact investing provides an answer largely through innovative portfolio construction and we would particularly like to highlight: The results obtained by
Biodiversity Restoration The business case for investing in biodiversity is strong: UBAM – Biodiversity Restoration (BRF) invests in biodiversity “fixers” – solution providers that aim to protect or restore biodiversity. ▪ Infrastructure programmes and regulations drive additional growth for the
Investors and companies ventured into uncharted territory following the start of the Covid crisis in early 2020, with challenging market conditions turning perceived tailwinds into headwinds and vice versa. In 2022, the fragile path to recovery was further destabilised by
Flash Update: The decision to invest in emerging markets today should be based on the economic forecasts for the region and managers’ ability to position themselves accordingly. Analysis of UBAM – Positive Impact Emerging Equity’s recent history can shed some
Monthly investment outlook Stock and bond markets continued to rally in January as falling energy prices, a reopening in China and hope for Fed rate cuts ahead drove optimism across asset classes. This optimism belies growing divergence between expectations implied
Global investors still mostly favour onshore equities, i.e. the A-share market (the CSI 800 Index), to build exposure to the Chinese economy; however, the high volatility associated with these shares has historically been a drawback. If we look back at
Investors were buffeted throughout 2022, first by the shock of Russia’s invasion of Ukraine and then by the fastest rate-hiking cycle by the US Federal Reserve in a generation. As we had anticipated 2022 would be a volatile year in
A new building block within UBP’s Global & Absolute Fixed Income range. The strategy’s objective is to generate high income with a strong BB risk profile. The strategy will have a diversified allocation to the high income …
ESG (environmental, social and governance) ratings are complex and getting more so. Lively debate has been triggered by discrepancies such as Tesla being removed from the S&P 500 ESG index over concerns about working conditions and automated driver safety, while
Stock and bond markets rallied into November on the back of speculation that the Fed might step back from its rapid pace of rate hikes and, more importantly, that it may reach its ‘terminal’ Fed Funds policy rate by early-2023.
Monthly Investment Outlook: Global activity slowed down in late December and should remain moderate in Q1-22. The Omicron impact was limited to a few services, but disruption remained in place in …
Monthly Investment Outlook: With the September swoon in risk assets, markets have simply moved to unprice the optimism built up over the summer about the prospects of a pause in Fed tightening …
During Q3 2022, global markets continued to fall across the board, from equities, to bonds and commodities. No region, sector or style was immune to it. After a relief rally in July, equities fell, and bond yields rose as inflation
The business case for investing in biodiversity is strong: Awareness of the biodiversity investment opportunity is where climate change was 5–10 years ago, but it is catching up rapidly. USD 44 trillion worth of the economic value generated each year
Growth is slowing and inflation is climbing steadily due to the serious energy shock in late 2021. Central banks are starting to withdraw monetary stimulus and talking about rate hikes in the near future. The spectre of stagflation is re-emerging,
Following the summer rally, risk assets once again overprice soft-landing prospects requiring a cautious stance on the part of investors going into year-end. Comments from Fed Chair Powell suggest that economic risks are increasingly skewed towards recession especially in Europe
Growth is slowing but not collapsing. Elevated inflation is squeezing household incomes, confidence and spending, leading to a slowdown in economic activity as illustrated in Figure 1. Recently, weaker activity has been registered in both the manufacturing and service sectors,
Impact Investing In terms of asset class, impact investing has traditionally been associated with private capital. Public equities make up just 17% of the USD 502 billion in assets managed in impact strategies1 , a negligible amount compared with the
Green bonds enable capital-raising and investment in projects that foster a net-zero emissions economy and protect the environment. Green bonds can cover a variety of projects, such as renewable energy, energy efficiency, green buildings, clean transportation, a circular economy, and
Flash Update: The recent round of positive performances in local currency markets has offered investors hope of some recovery after the asset class dropped by 16% between mid-February and mid-May 2022. Rising yield levels have contributed the most to the
Impact investing has been challenging in Europe in 2022 Interestingly, a large contributor to the underperformance compared with its benchmark comes from what PIE does not own, rather than what it does. There are some striking observations to make: first,
2021 appears to have been the turning point for a 30-year period of disinflationary global trends which led to elevated asset prices and suppressed volatility. Going forward, financial assets will need to reprice, but at levels that are unpredictable. What
Monthly investment outlook august 2022 Just as markets had to reprice a new interest rate regime in early-2022 amidst fading hopes for a transitory inflationary backdrop, they are now similarly beginning to recognise that the prospects of an economic soft
UBAM – Positive Impact Emerging Equity (PIEE), our impact investment solution for investing in EM, has outperformed its benchmark index in the year to date. We would also highlight the following point …
With the peak in inflation in the early 1980s, investors as a whole have benefitted from a secular fall in inflation, driven by structural factors including supportive demographics, globalisation, and productivity-enhancing technology investments. Undoubtedly, the technology revolution will continue with
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
May’s reprieve proved short-lived as recession joined inflation fears pushing equity/bond prices lower in June. Concerns have risen as the increasingly hawkish Fed rhetoric at its June meeting suggests a willingness to trade rising …
China has once again captured the attention of investors seeking shelter from unprecedented global policy tightening. This is understandable, as the country was first in, first out of the Covid pandemic and remains ahead of the curve in terms of
Monthly Investment Outlook: Global activity slowed down in late December and should remain moderate in Q1-22. The Omicron impact was limited to a few services, but disruption remained in place in …
Following yesterday’s stronger than anticipated Eurozone inflation print, coupled with recent comments from various ECB members including President Lagarde, Vice-President de Guindos and Chief Economist Lane, the European Central Bank are expected to increase interest rates in July, the first
I am delighted to introduce you to UBP’s 2021 Sustainability Report. This report highlights our efforts to embed sustainability at UBP. It outlines our vision and strategy as well as progress towards strengthening our responsible investment activities and improving our
Impact investing aims to generate a measurable social/environmental impact alongside financial return We believe that companies which help to solve emerging markets’ acute societal and environmental challenges are uniquely exposed to a clear growth path over the coming decades. Impact
