Do US President Trump’s Initial Policy Decisions Put Energy Transition Investments at Fundamental Risk?

No. In President Trump’s first week back in office, he issued several executive orders related to climate and energy. These initial actions aim to reverse President Biden’s climate policies by withdrawing the United States from the Paris Climate Agreement (for the second time), curtailing growth of the clean energy sector, and boosting US fossil fuel […]

January 2025

VantagePoint: Avoiding Five Key Investment Pitfalls

The start of the year is an ideal time to review investment practices and procedures to ensure you are set up for success. Investing is challenging, even for the most seasoned investors, given the underlying emotions and mental biases inherent in human decision making. Successful investors have explicit investment processes that are clearly outlined and […]

January 2025

2025 Outlook

2025 stands at a crossroads. Will the impressive performance of US equities continue? Can private equity and venture capital achieve better results? What does the future hold for credit markets? We answer these questions and many others across all asset classes as we present our 2025 Outlook.

December 2024

2025 Outlook: Cross Asset

We expect global equities to outperform bonds, as near trend economic growth should support continued corporate earnings growth and healthy risk appetite. Stock/bond correlations should be lower than the 2023–24 peak levels, even as protectionist US policy may drive global economic uncertainty higher. Global Equities Should Outperform Bonds in 2025 Kevin Rosenbaum, Head of Global […]

December 2024

2025 Outlook: Diverse Manager & Impact Investing

We expect California Carbon Allowances (CCAs) to recover from 2024 losses as clarity on supply reductions emerges. Meanwhile, impact private investment flows will favor strategies with faster distributions and commercial validation. Additionally, headwinds for private diverse manager allocations should ease, but the overhang of emerging funds may lead to consolidation or shutdowns, challenging managers. California […]

December 2024

VantagePoint: Deconstructing US Debt Dynamics

The trajectory of US debt-to-GDP has sharply increased in recent decades, driven by significant fiscal stimulus in response to the Global Financial Crisis (GFC) and COVID-19 pandemic. Deficit spending remains elevated compared to typical levels outside of economic crises or wars, with official estimates predicting continued escalation, particularly if Trump’s presidential campaign promises are fulfilled. […]

November 2024

Simplifying Net Zero Implementation: Possible Pathways to a Portfolio That Can Be Good for the Climate

In our 2023 ‘From Policy to Implementation: A Net Zero Playbook for Investors’, we laid out why and how an investor might incorporate climate goals into their portfolio without compromising its financial goals. Subsequent experience has shown us new ways to streamline the process, as investors often get bogged down in reporting and activities that […]

September 2024

US Election Anxiety: Keeping Calm Amid Political Uncertainty

Markets have been jittery as the US presidential election approaches. The macro backdrop is shifting, with slowing economic growth and ebbing inflation meaning a cycle of monetary easing beckons. At the same time, elevated valuations for a variety of assets are causing investors to reconsider narratives around themes, such as AI investment, and consider asset […]

September 2024