#45 November is filled with webinars. This week, you’ve got a lot to choose from. On Wednesday, Capital Group hosts a webinar “Are disruptors the next generation of defensive stocks?” and T. Rowe Price hosts a webinar “US Election 2020
October 30, 2020
Investment Letter Succes vereist nieuw recept op basis van bestaande ingrediënten Het Nieuwe Pensioencontract (NPC) moet een transparanter en persoonlijker pensioen opleveren dat beter aansluit bij de ontwikkelingen op de arbeidsmarkt. Daarnaast moet het perspectief op toekomstige verhogingen van de
Weekly Fixed Income Commentary U.S. Treasury rates closed higher last week, led by longer maturities. A constructive market tone lifted rates and supported risk assets. Prospects for additional fiscal stimulus prior to the U.S. election dimmed, but rates rose nonetheless
An EDHEC-Risk Institute Working Paper This paper employs a robust portfolio sorting procedure to factor size characteristics into returns. The US size anomaly boils then down to a pure seasonal effect, fully supporting the “tax-loss-selling” hypothesis. We build a long-short
Webinar – Climate Risk: Preparing Your Portfolio for the Storm As climate change continues to impact the wider economy and drives further regulation, investors urgently need to incorporate the climate risks and opportunities across all asset classes into their portfolio.
Investment Perspective The relentless run in risk assets over the last five months finally faded a bit in early September, as the S&P 500 fell nearly 8% and the tech-heavy NASDAQ fell 11%. This year’s returns have been heavily influenced
Weekly commentary The broad macro backdrop has been improving, risk assets have rallied a long way, and increasing market volatility points to risks that investors will need to navigate as the U.S. presidential election draws closer. All this leaves us …
This paper presents a simple holistic approach to build climate risk-resilient investment portfolios based on the three key objectives of the Paris Agreement: climate change mitigation, climate change adaptation, alignment of financial flows with a low-carbon, climate resilient pathway. We
Multi-asset | September 2020 Most asset market returns can be distilled down to two basic elements: movements in cash flows and discount rates. In the past month or so, for risky assets such as equities, each has moved in a
This article studies the impact of carbon risk on stock pricing. To address this, we consider the seminal approach of Görgen et al. (2019), who proposed estimating the carbon financial risk of equities by their carbon beta.
Weekly Investment Commentary U.S. equities rallied again last week, with the S&P 500 Index climbing 2.5% as it approached a new all-time high.1 Economic data continued to come in ahead of expectations and corporate earnings results have not been quite
Sovereign wealth funds are often referred to as “rainy-day funds”, pools of cash that their government owners can draw upon in times of economic need. It is hard to imagine a rainier day or a greater …
Capital Market Line Quarterly Five-Year Forecast of Relative Risk and Return Across Asset Classes While the spiking number of Covid-19 cases in the US West and South are cause for concern, built-up consumer demand and nascent recoveries in autos, housing
The sharp market fall and speedy recovery during the eventful first half of 2020 has kept tail risk hedging topical: investors have both fresh memories of a painful loss and renewed fears of a repeat. In this paper we summarize
We believe there is a striking disconnect between market pricing and the real economy, especially with regard to expected company earnings. In the past three months, risk assets have pulled back from the brink of collapse, as policy makers hosed
Qontigo Applied Research Q2 2020 Insight Report In times of crisis, the focus is always on the future— hence our title for this quarter’s Insight Report. As researchers, we analyze the past in search of insights to guide us forward.
Carmignac's Note Investors are used to dealing with uncertainty – the very essence of financial markets – as they seek to anticipate what is necessarily an elusive future. However, these past six months have driven uncertainty into entirely uncharted territory,
#28 A variety of webinars were hosted this past week and next week a few interesting are coming up. Therefore, before we tell you the best read research of week 28, we will highlight two webinars. Last Thursday, Eurizon AM
Foreword We are pleased to present the results of the 2020 European Risk Manager Survey. The survey has taken place every other year since 2002 and represents the widest available picture of views of professional risk managers across Europe. The
Where are the opportunities in Asset Backed Securities? …that can meet ESG risk and positive impact objectives July 2020 – Alternative Fixed Income and R.I. series – Webinar 1 The drawdown in the markets provoked by Covid-19 reached its lowest
Risk Insights Series We are in a new era of extreme volatility that is leaving investors searching for new ways to achieve the same portfolio objectives. In an environment marked by …
Webinar – Green Bonds: What happens to green when markets turn mean? The recent bond market sell-off caused by the Covid19 pandemic revealed that Green Bonds held up remarkably well with just half of the losses versus the broader corporate
#23 Asset Allocation might be the most used tag on OpinioPro and this past week is no different. Furthermore, of course the calendar is a well used page as well. Don’t forget to take a look and spot an interesting
Webinar – Climate Change Investing in 2020 Divesting, Decarbonizing, De-risking, and Aligning with 1.5C A complimentary webinar for investment professionals Investors recognize that climate change is one of the most pressing threats to society, and that alignment offers potential opportunities
Webinar – Resiliency & Risks for Global Financial Systems COVID-recession consequences, fiscal and monetary responses, and implications for the US economy and capital markets will be discussed by Peter Fisher, Clinical Professor at Dartmouth’s Tuck School of Business. Peter formerly
Webinar – Quarterly Multi-Asset Risk Review Differing views on the effectiveness of the fiscal and monetary responses to the COVID-19 crisis have led to an ongoing uncoupling of stock and government-bond returns. While share prices started to recover in anticipation
Webinar – ESG & Credit: How to Mitigate Both Financial And Climate Risks Institutional investors are increasingly looking at making their significant fixed income allocations part of their sustainable investing strategy. But whilst the recent market turmoil highlights the need
Investment Perspective Risk assets have rallied strongly over the last seven weeks as policy actions have been forceful, COVID-19 cases have peaked in important areas and investors have been willing to look past the short-term economic …
Q2 Outlook In our last quarterly outlook, we flagged our cautious posture on risk assets, taken due to a number of smouldering risks on the horizon. One risk we did not highlight, however, was that a pandemic would break out,
Multi-asset market outlook April was a good month for most risky assets. These positive returns, however, came on the back of a brutal correction. While most asset classes rebounded in April, some failed to find a bottom. Oil prices continued
Global Matters Weekly There’s no two ways about it: size matters. We live in a society that admires big – The Angel of the North, the Great Wall – yet we also revere the precision of small – the microprocessor,
Investment Perspective Risk markets have rallied strongly since the fourth week of March, reflecting a collision of positive policy developments and bearish investor sentiment. After a one-month decline of 34% in the S&P 500, we have experienced a snap-back rally
Webinar – Getting the Big Decisions Right Rebalancing Amidst Market Volatility It’s no secret that rebalancing decisions made during large market drawdowns have material long-term implications to portfolios – it generally just comes down to the choices of “when” and
Global Matters Weekly Bonds, issued by both governments and corporates, will always have a significant role to play in multi-asset portfolios due to their inherent stability and reliable cash flows, which provide much needed balance for other riskier positions. However,
Market Flash Risk appetite returned in force over the period as a number of countries unveiled plans to ease lockdown measures, encouraging investors to anticipate a gradual recovery in activity. S&P amplified the trend by maintaining Italy's rating and its
Occasional Paper Series: a conceptual model for systemic risk in the financial sector In October 2017, the European Systemic Risk Board (ESRB) set up a group whose objective was to examine cyber security vulnerabilities within the financial sector, and their
What is the Best Approach? Unfortunately, portfolio rebalancing is not a free lunch. And there is no ultimate rebalancing rule that applies universally. Investors with different goals and preferences …
A global update from Franklin Templeton Multi-Asset Solutions When we turned the calendar over to a new year and a new decade, little did we know how different the world would look in just three short months. A silver lining:
For the first time ever the Fed will be aggressively buying corporate bonds This significantly reduces the main market risks, such as: Liquidity risk Risk of funds’ closures Refinancing risk Fallen angel risk And it is ready to do more.
Webinar – Staying true to our risk focused philosophy For years, a historically low yield environment pushed many fixed income investors to search for yields by tilting their portfolios towards higher yielding and less liquid investments. For many, the Covid-19
Axioma’s new Multi-Asset Class (MAC) Risk Monitor highlights recent trends in market and portfolio risk. The report is a collection of graphs and tables showing current multi-asset factor correlations and volatilities, treasury curves, yield, spread and FX histories, model portfolio
Webinar – The future of credit markets in a highly indebted world Credit markets will remain challenged amid market volatility from COVID 19. As the number of COVID 19 cases have mounted, a supply and demand shock has impacted much
Top of mind In the current environment, what’s “top of mind” seems to be changing week to week, if not day to day. My goal in this note (with a title borrowed from a Frank O’Hara poem) is to attempt
As we all hunker down to our new normal with the hope that by doing so we can protect others from the invisible onslaught of the coronavirus (COVID-19), those of us in the investment industry are working hard to help
Webinar – Examining the Coronavirus Through the Lens of Multiple Fixed Income Risk Models The double blow of rising Treasury yields and exploding risk premia in March posed a serious challenge for corporate bond investors. Even the risk and returns
Webinar – Assessing political risk in 2020 As we face into another year of political uncertainty, Stephanie Kelly, Senior Political Economist at Aberdeen Standard Investments Research Institute, will discuss how investors can make sense of the issues across the developed
Content Adding value to crisis management • Internal Audit’s role in crisis meetings • Auditing crisis management • Auditing deep dives on risks and the like Impact on Internal Audit • Risk assessment -> Ad Hoc audits • Impact on
