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Has Our Broad Investment Outlook Changed Considering the Recent Bank Collapses?

No. We continue to think investors should tightly manage risk by keeping equity allocations and bond duration in line with broad policy targets and resist the temptation to time the market. We entered the year with those views, which depended on our expectation that recessions in the United States and euro area were likely, given […]

March 2023

Regulators Seek to Contain SVB Fallout

Following no US bank failures in the last two years, two banks failed in the last three days—Silicon Valley Bank (SVB) and Signature Bank. As the situation evolved last week, investors, businesses, and regulators became increasingly concerned about SVB and risks to the broader economy. Over the weekend, US officials from the Federal Reserve, Treasury, […]

March 2023

A Social & Environmental Equity Investing Framework for Better Real-World Outcomes

Investing can often feel like steering a ship through stormy seas, traversing risks seen and unseen. In recent years, the siren song of investment products that appear aligned with achieving genuine social and financial returns—but are merely designed to attract assets—is one such danger. And this trend, coupled with economic uncertainty, creates a perfect storm […]

March 2023

Inverted World: The Attractiveness of Short-Term Tiers for Healthcare Systems

A healthcare system’s investment structure is intentionally aligned to match varying enterprise needs over the short, intermediate, and long term. Most have gravitated toward the use of tiers—pools of capital delineated as available immediately (operating cash), within the next few years (short-duration bonds), or strategically over time (long-term investment pools). However, the need for capital […]

March 2023

Multiemployer Plans Receiving SFA Program Assets Face Critical Allocation Choices

Regulations are often controversial, but few in recent history have had so many different interpretations and large revisions as the Special Financial Assistance (SFA) program for underfunded multiemployer pension plans (MEPP). Now that the dust has settled, one of the biggest risks for plan sponsors is not taking full advantage of the opportunities that are […]

February 2023

Climate Tech’s Evolution: The Maturation to a Competitive, Returns-Focused Thematic Investment Sector

Climate technologies (climate tech) have gained popularity among investors in recent years. These technologies encompass a broad set of assets that seek to provide solutions to the challenges associated with climate change. Such assets often include contribution to decarbonization of the global economy and incorporate investment themes such as the energy transition, sustainable food systems, […]

February 2023

Climate Solutions Investing: Your Toolbox for Building a Diversified Investment Portfolio

Climate change is one of the most pressing global challenges, but it also presents significant investment opportunities in the coming decades. All investors should consider exposure to solutions that help mitigate the systematic risks of climate change, as they will benefit economically from a world that is seeking to decarbonise and become more resource efficient. […]

February 2023

From Policy to Implementation: A Net Zero Playbook for Investors

The scientific community tells us that “climate change is a threat to human well-being” and that the window of opportunity to “secure a livable and sustainable future for all” is rapidly closing. If we fail to act, there will be catastrophic impact on the global economy, asset values, and portfolio returns. This urgency is stimulating […]

February 2023