Thinking Ahead Institute / Pensions & Investments World 300
AUM in the Top 300 fell by 0.4% in 2018, a sharp contrast from the previous year’s growth of 15.1% The top 20 funds’ AUM fell by 1.6% in 2018 North America remains the largest region
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Tag "2018"
The Yale Endowment
Yale’s Endowment generated a 12.3% return, net of fees, in fiscal 2018. Over the past ten years, the Endowment grew from $22.9 billion to $29.4 billion. With annual returns of 7.4% during the ten-year period, the Endowment’s performance exceeded its
Responsible Investing Report 2018
I am pleased to be writing this foreword to NN Investment Partners’ annual responsible investing report. It has been more than 20 years since we started integrating environmental, social and governance (ESG) criteria into our investment processes and launched our
Green bonds the state of the market 2018
Green bonds are issued in order to raise finance for climate change solutions, the key is for the proceeds to go to green assets. They can be issued by governments, banks, local government or corporations. The green bond label can
Compass Q1
Review of 2018, Preview of 2019 If the experience of investors could be described in meteorological terms, 2018 would surely be represented by cold drizzle punctuated by infrequent, but fairly terrifying, thunderstorms. The reliably warm and nourishing sunshine of 2017
Fixed Income Update
Fourth Quarter 2018 Key Points U.S. economic data remained firm, but signs of a potential slowdown in the U.S./global economy have been growing. The yield curve flattened, with the spread between 2 & 10-Year Treasurys reaching its lowest level in
A tale of tighter conditions
Macro and market Perspectives Financial conditions – which have tightened significantly since the summer – describe the changes in financial asset prices and the impact they have on economic growth. The more financial conditions tighten, the more they weigh on
Our multi-asset views for December 2018
Markets In our latest monthly update we discuss rising market volatility, our upgrade to gold and bonds as a diversier.
Tactical Asset Allocation
We build our funds including bonds, equities, commercial property and other assets looking over a 12 month time horizon. Our decision-making sequence is first to consider the outlook for each asset class (e.g. Government bonds), followed by views within that
Our playbook for 2019
UBS House View – Weekly Global No major asset classes performed well last year. Indeed, in terms of the breadth of the weakness, with only two of the 19 major asset classes we cover delivering (meager) positive returns, it was
A Year of No Returns
Monthly Investment Strategy 2018, a frustrating year for investors… As the year comes to an end, we look back in this Monthly Investment Strategy at macroeconomic and market performance and surprises. Such a post mortem analysis is a healthy, usually
A Year of No Returns
Monthly Investment Strategy 2018, a frustrating year for investors… As the year comes to an end, we look back in this Monthly Investment Strategy at macroeconomic and market performance and surprises. Such a post mortem analysis is a healthy, usually
2018: A Year Of No Returns
Monthly Investment Strategy 2018, a frustrating year for investors… …And a challenging 2019 ahead, especially as our risk scenarios are already unfolding
This too shall pass
Uncommon truths 2018 has been a difficult year for asset allocators, especially those based in USD. Investors are less confident than a year ago, which may be a good sign. Much depends on the economic cycle.
Tactical asset allocation for Q4/2018
Global macro and market review After completing our quarterly asset allocation strategy review, this issue explains LGT Capital Partners' macro and market views, and its investment positioning. All in all, we have decided to reduce the total equity risk of
Year-end review and 2019 outlook
Back to Reality 2018 has been a disappointing year for investors. After the stellar investment returns of 2017, perhaps it was always likely to feel this way. As the Goldilocks economic environment of 2017 gave way to a more difficult
Review of markets over November 2018
Market Review As in recent months, geopolitical events dominated market moves over the course of November. The outcome of the US midterm elections was broadly as markets expected. The Democrats took control of the House of Representatives and the Republicans
Our multi-asset views – September 2018
Asset Allocation Currencies dominate the changes in our asset allocation views this month, including an upgrade for the US dollar
Capital Markets Outlook Q4
Equities face skepticism over rates and trade Even before equities sold off in early October following the spike in the 10-year Treasury yield, clouds were on the horizon.
News stream dominated by politics, equity return forecasts revised downward
Allocation insight Autumn has arrived, and the holiday season is over also in Central Europe and in the US. The news stream is dominated by politics. In addition to Italy’s latest political intricacies, we will look into the impacts of
Investment Outlook: September 2018
Introduction In the last two issues of Investment Outlook, we have emphasised that we are in the latter part of the economic cycle. We expected this to result in greater instability and less risk tolerance among investors, yet we maintained
4Q 2018 Investment Outlook
Global Market Entering into the fourth quarter, investors are likely to stay on the side lines for US equities due to our expectation of a non-event on 3Q earnings results. The mounting pressure on regulatory requirement for media and communication,
Braving The Elements
Fourth Quarter 2018 Trade tensions further deteriorated as the U.S. slapped tariffs on another $200bn worth of imports of Chinese goods, and threatened to go all the way by taxing all Chinese imports, or a total of $505bn. The dispute
Trade war and rising rates create headwinds for global economy
Q4 2018 | Fixed Income Outlook The U.S. economy is poised to expand further this year, but growth will likely ease in 2019. China and the United States are locked in a spiraling trade war. We believe global yields will
Global Investment Outlook & Strategy
October 2018 Stocks remain supported by strong earnings outlook, solid but uneven GDP growth momentum, gradual policy normalization, reasonable valuation & easing of some of the global concerns. However, stocks face other risks which could keep markets volatile, including US-China
Global Investment Outlook & Strategy
October 2018 Stocks remain supported by strong earnings outlook, solid but uneven GDP growth momentum, gradual policy normalization, reasonable valuation & easing of some of the global concerns. However, stocks face other risks which could keep markets volatile, including US-China
Global Outlook September 2018
Tactical Asset Allocation – September 2018 We build our funds, including bonds, equities, commercial property and other assets looking over a 12 month time horizon. Our decision-making sequence is first to consider the outlook for each asset class (e.g. government
Economic and asset allocation views Q4 2018
Global market perspective The trade war between the US and China intensified in the third quarter with both sides announcing a second round of tariffs. So far the market response has been a striking divergence between the US and Chinese
Investment Strategy October 2018
Economic backdrop The passage of time since the Trump Tax Cuts and Jobs Act of 2017 has served to confirm the substantially positive effect on individuals and corporations alike in the US and arguably embolden and strengthened the US’s hand
Multi-asset markets outlook
October 2018 It was an exceptionally good month for commodities. The main driver of the positive return generated by the general commodity indexes was oil. In September, Brent increased 7.4% and WTI rose 4.9%. With Venezuela imploding and the almost
Fixed Income Investment Outlook 4Q18
U-Turn As the current economic expansion in the U.S. extends into its tenth year, interest in pinpointing its end date continues to grow. Though the timing of the cycle’s turn is interesting and important, we are more focused on the
Guide to the Markets
Europe | | 4Q 2018 As of 30 September 2018 Market insights presentation
Mid-Year Investment Outlook 2018
What is happening now and what does it mean for markets? Divergence in economic growth Divergence in inflation Divergence in central bank policies
Global Strategy Q4 2018
Global Strategy | All Assets | Global The economic expansion still remains solid, but faces downside risks due to political uncertainties. The Fed is going to continue to implement gradual rate hikes, while the ECB will maintain its accommodative monetary
Emerging Managers: New Hedge Fund Filers 2018
Each quarter, our research team reviews investment firms that have filed a 13F with the SEC for the first time and selects firms to include in the Novus Hedge Fund Universe “HFU.” The HFU is a composite portfolio of over
Global Investment Outlook & Strategy
September 2018 Turkey Turmoil, Trade Tensions & Brexit Uncertainty Cast Shadow on Equity Markets, but Strong Earnings Outlook & Solid Growth Momentum Likely to Help Stocks to Grind Higher
Global Investment Outlook & Strategy
September 2018 Turkey Turmoil, Trade Tensions & Brexit Uncertainty Cast Shadow on Equity Markets, but Strong Earnings Outlook & Solid Growth Momentum Likely to Help Stocks to Grind Higher
Economic and Strategy Viewpoint
October 2018 Will trade wars end the cycle? Italy: Bond vigilantes at the gates Japan: Hidden slack unlikely to halt BoJ stimulus withdrawal
Choppy Waters
Investment Strategy Marginal Preference for Equity over Bonds… Prepare for more Volatility Central banks slowly pulling out of the game Protectionism & politics pivotal in H2 …
Global equity outlook
Buyer beware: Shop around for consumer stocks Economic growth is humming and consumer confidence in the U.S. and Europe is at its highest level since the global financial crisis. Good news for consumer stocks? Not entirely. Large portions of the
Global equity outlook
Buyer beware: Shop around for consumer stocks Economic growth is humming and consumer confidence in the U.S. and Europe is at its highest level since the global financial crisis. Good news for consumer stocks? Not entirely. Large portions of the
Foreignexchange Outlook
For Third Quarter 2018 The third quarter begins with clarified monetary policy outlooks for the US, EMU, and Japan. At the end of Q2, the Federal Reserve signaled it would likely raise rates in September and December. The unwinding of
Choppy Waters
Investment Strategy Marginal Preference for Equity over Bonds… Prepare for more Volatility Central banks slowly pulling out of the game Protectionism & politics pivotal in Q3 …
Global Economic perspective
August Strong US Economy Showing Few Signs of Trade Concerns The Bank of Japan’s Move Could Indicate a More Significant Monetary Shift Domestic Strength Underpins Growth in Eurozone despite Trade Headwinds …
Global Economic perspective
August Strong US Economy Showing Few Signs of Trade Concerns The Bank of Japan’s Move Could Indicate a More Significant Monetary Shift Domestic Strength Underpins Growth in Eurozone despite Trade Headwinds …
A Positive Start to the Second Half of 2018 for Emerging Markets
Emerging markets insights The left-wing coalition headed by Andrés Manuel López Obrador (AMLO) won by a landslide in Mexico’s general election. We do not expect a radical change in terms of Mexico’s fiscal or central bank policy as a result
Global Emerging Markets Strategy Mid-Year Update
Executive Summary Emerging markets equities declined in the first half of the year owing to concerns of rising trade tensions, growing political risks particularly in Latin America, a potentially aggressive pace of rate hikes indicated by the U.S. Fed and
Summertime and the living is easy?
Investment directions In the United States, the economic backdrop continues to shine, and earnings remain strong. But uncertainty surrounding trade tensions has sparked investor interest in more defensive factor exposures, like quality, while fervor has cooled for more cyclical factors
Equity Outlook
Buybacks and M&A may fuel equities, but trade conflict is a key risk Stock buybacks, vast sums raised by private equity investing, and robust corporate M&A activity could all lend support to equities. The current trade conflict, particularly U.S. tariffs
Investment Strategy and Research Committee Allocation Views
Executive Summary as of August 3, 2018 We downgraded our view of equities to neutral in July as global growth outside the United States has shown further signs of moderating and political tensions have persisted. Within fixed income, we continue
