In a recent publication by Janus Henderson they ask the question if the recent rise in rates is sustainable. They state that the recent rise in rates has made a couple things clear, namely: The recent rise is undoing the even faster decline from last year and secondly that the initial …
COVID-19 will leave an indelible scar on people and businesses which will take time to heal. While optimism mounts as global vaccination gets underway and spring shoots of recovery break through, the ever-present challenges that loom large on the …
Capital markets are increasingly penciling in a higher interest rate scenario as reflected in a sharp steepening in the Treasury yield curve over the past 30 days. The yield on the 10-year bond has increased by 40 bps over the past 30 days. Despite dovish messaging …
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
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 …
Webinar – Inside Real Estate Annual Strategy Outlook 2021 What can we expect from the global economy in 2021? And how will that affect commercial real estate? Join us for a webcast featuring Indraneel Karlekar, Ph.D., Senior Managing Director, Global
Webinar – Listed Infrastructure and Listed Real Estate Seeking attractive opportunities for portfolio diversification! 2020 has highlighted the globality of our world. Diversification is once again a key aspect of portfolios. In this context, listed infrastructure and listed real estate
Social & Affordable Housing White paper This white paper summarises the social and affordable housing (“S&AH”) sector in the United Kingdom and Ireland. There are similarities in the provision of S&AH in each country and in each there is a
2021 Outlook Perspectives on today’s real estate market Our real estate team believes the current market offers opportunity for strategic allocation of private real estate for long-term investment benefit. We also see themes taking shape that will impact the opportunity
Big Picture Update A global pandemic, recession, and regime change in the US are some of the issues facing commercial real estate (CRE) investors. These headwinds have already presented investors with unique challenges that have impacted property performance with a
Outlook 2021 Fidelity International’s outlook for the global economy, multi asset, equities, fixed income and real estate If you are reading this, then you’ve lived through one of the most volatile periods in market history. The year to come may
#RealEstate With house prices in the United States growing 8% year-over-year in August it seems like the COVID-19 crisis does not impact house prices. On the other hand, the demand for commercial real estate seems to deteriorate with the growth
To build the income component of our long-term equity forecasts, we calculate each country’s expected income contribution, based on current and anticipated levels of dividend yield, as well as the expected returns attributable to buyback activity (positive) or net positive
Global Asset Allocation: The View from EMEA Blue Ripple? A Biden presidency, with Republicans maintaining control of the Senate, is a possible outcome of the US elections. Most polls heading into the election were predicting the possibility of a ‘Blue
"When building a portfolio of different assets, an asset’s beta is critical in understanding the impact on portfolio volatility. While standard deviation will explain the volatility of an asset’s return compared to its expected mean return, beta will explain how
The Investment Clock: "Recovering: After a plunge into recession, economic data started a rapid pick up from March in China and May/June in Europe and the US as social distancing eased. Retail sales have recovered particularly fast in the US
“ In fact, Powell noted that the Fed seeks to promote its employment and inflation goals while warding off any risks to financial stability (i.e., asset bubbles) ‘that impede the stability of our goals’. “
Contrary to common fears, Covid-19’s long-term effect on office demand might actually be accretive, or at least not destructive. Many observers have claimed that the pandemic has revealed city-center offices to be relics of the 20th century. We take a
A compilation of thought-provoking insights produced by Man Group during the month. It’s astounding what these google searches can tell us about trends. These examples represent some of the most common search terms during each period, and had an eerily
The European real-estate debt market has changed dramatically since the Global Financial Crisis, with bank lending activity – constrained by regulatory capital and oversight – creating a structural opportunity for non-bank lenders to exploit. As such, we believe European commercial
The Federal Reserve's recent Jackson Hole Symposium has renewed attention on inflation in light of the unprecedented global fiscal and monetary policy response to the COVID-19 pandemic If inflation exceeds capital market expectations, risk assets could underperform. As such, investors
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,
Alternatives AUM exceeds $10tn milestone amid challenging market conditions The alternatives industry has just set a new record: global assets under management (AUM) have surged to $10.31tn. We’re now well on our way to meeting Preqin’s 2018 forecast of $14tn
The value of investments will fluctuate, which will cause prices to fall as well as rise and you may not get back the original amount you invested. Where past …
While no real estate sector or portfolio is immune from the negative effects of the coronavirus pandemic, we believe certain sectors and strategies are better positioned in these uncertain …
The value of investments will fluctuate, which will cause prices to fall as well as rise and you may not get back the original amount you invested. How has my experience differed from others? Do I have a private workspace
2020 Real Assets Outlook Coronavirus… The ongoing impact of Covid-19 on the global economy has dramatically altered our outlook on inflation, risk and asset class returns. Going into 2020, valuations for many risk assets were rich and expected returns were
While exposure to the real estate asset class is common in defined benefit (DB) plans, this has only become a more recent occurrence in defined contribution (DC) plans. Many target date funds (TDFs) have now started to provide exposure to
Real estate investing in a post-coronavirus world Macro backdrop: GFC pales in comparison to the Great Lockdown The last 30 years of cap rate compression is likely over given the very low interest rate environment. Next decade is likely to
Over the past few weeks, most Western economies have remained frozen by the lockdown measures taken to contain the Covid-19 pandemic. These measures have already had an unprecedented economic impact, but the magnitude of the long-term fallout is difficult to
Real estate investing in a post-coronavirus world Macro backdrop: GFC pales in comparison to the Great Lockdown The last 30 years of cap rate compression is likely over given the very low interest rate environment. Next decade is likely to
EU policy recommendations on starting a paradigm shift We welcome the EU’s intention to ‘Rebuild Europe’ by accelerating gren building renovation1 to support economic recovery, to support our health2 , to reduce carbon emissions and improve energy security.
Global Outlook The outbreak of COVID-19 has quickly translated into a severe shock for the global economy and real estate markets. Near-term indicators of performance have turned sharply downward, and the situation is fast-moving. At the same time, some lessons
Real estate and sustainability in APAC With both events likely to witness widespread damage to public health, disruption to economic systems, and yet face solutions that can be guided by scientific evidence, parallels between the COVID-19 outbreak and the climate
New Business Realities and the Implications for Investors The coronavirus pandemic has led to humanitarian, societal, business and economic crises unprecedented in their global breadth and speed – leaving governments, healthcare systems, communities, companies and families overwhelmed. Over a third
Think global According to the United Nations, more than half of the world’s population already lives in urban areas, a percentage predicted to rise to 68% by 2050. The story of the past century has been one of dramatic population
The Big Picture Is this a buying opportunity or the half-way stage in a larger slump? The truth is we don’t know, so we have constructed a range of scenarios that see the S&P 500 anywhere between 1400 and 3000 in 12
As a landlord and investor in real estate, I am closely watching how the world adapts to the global lock down. In our case at Momentum Global Investment Management, the transition from office to homebound working has been seamless. I
Een empirische analyse van de strategieën van doorstromers op de woningmarkt In dit paper bekijken we de manier waarop doorstromers op een lokale markt van woning wisselen, en meer specifiek of ze beginnen met de verkoop van hun oude woning
Our view is that allocating to defensiveness is more important than timing a bottom in asset prices and adding to risk at this stage. The Japanese yen is increasingly showing its defensive properties, Chinese government bonds are offering attractive yields,
Research Blast – COVID-19 European Office Markets Series, edition 1 Within a matter of weeks, COVID-19 has caused an unprecedented level of disruption to all asset classes. Office real estate markets are by no means immune to this, but due to
Market Insights Powerpoint by JP Morgan Asset Management
Een nieuwe datum volgt binnenkort.
#14 Again, the main theme this week was: the coronavirus. The five best read research on OpinioPro this week did approach this in different ways, which makes them all very interesting to read. Edmond de Rothschild published a “Special Flash”
Real Estate: Think global Retail sales are migrating online and away from physical stores, damaging the investment returns of retail property. The process is underway in all developed retail markets, but the pace of migration is uneven. Very little research
Stand van zaken De Nederlandse kantorenmarkt liet zich vorig jaar van haar goede kant zien. Op de zogeheten vrije markt – dus exclusief de categorie eigenbouw – werd in totaal 1,28 miljoen m² kantoorruimte verhuurd en verkocht. Daarmee was de opname
De gemiddelde vierkante meter transactieprijs van huurwoningen in de vrije sector nadert de 12 euro. In het tweede halfjaar van 2019 betaalde een nieuwe huurder (dus bij bewonerswisseling) 11,92 euro per m2 voor de gemiddelde huurwoning in Nederland. Dat is
Market commentary As the year began, so it ended, with yet another strong month for risk assets in December, capping one of the best years for markets since the financial crisis. Equities again led the charge, but leadership for once
Diversification is our highest-conviction idea. Institutional investors need to broaden market exposure to more opportunities and risks to reach long-term objectives in today’s low-yield environment. In our view, diversification is about much more than simply having a combination of assets
Private markets 2020 With private investments playing an increasingly important role in most institutional portfolios, the private markets have continued to evolve. They have grown deeper and more dynamic in terms of new strategies, new fund managers and geographies. They have also become
