A Summary of Climate Change Science for Investors
We are investors, not scientists; however, investors would be wise to consider climate science in their investment decision-making process.
December 2019
Insights
Will Weak Economic Data in the Euro Area Undercut Its Equities?
No, we don’t think so. While euro area economic activity has weakened meaningfully, with real GDP growth falling to its lowest annual pace (1.1%) since 2013 in third quarter, strong equity returns aren’t dependent on robust economic growth. Ultimately, we continue to like the bloc as part of a risk-controlled overweight to global ex US equities funded from US equities.
December 2019
Liability-Hedging Strategies for US Plan Sponsors in the Low Interest Rate Era
While many plan sponsors have adapted to dramatic interest rate swings by strategically hedging their liability interest rate risk, some balk when interest rates are low. But failing to hedge long-duration liabilities with long-duration assets can expose sponsors to significant downside risk.
November 2019
Outlook 2020: Ten Investing Themes for the Coming Year
In 2019, returns were driven less by what went right than by what did not go wrong. We highlight ten themes for 2020, with a focus on key macro questions, emerging opportunities, and risks.
November 2019
Pension Schemes in Pursuit of Income, Growth, and Diversification
A universal approach to portfolio construction can help schemes achieve required return targets whilst adding additional upside from alpha generation; reduce risk through true diversification; and generate sufficient income to comfortably meet both planned and unplanned cashflow needs.
November 2019
VantagePoint: Fourth Quarter 2019
As economic growth slows, manufacturing contracts, and major central banks start to ease monetary policy anew, investors need to consider what policy options the world has left in the event this slowdown becomes a recession. In this edition of VantagePoint, we look to the 1930s for some answers, while realizing that intervening changes to the global financial system rule out an exact repeat of that period.
October 2019
Is Private Equity Energy Dead?
No. But, the game has changed and to be successful, investors should adopt a new commitment strategy. While the industry faces secular challenges, managers can innovate to exploit disruption and generate attractive absolute returns. Private equity (PE) energy has quickly gone from growth driver to investment pariah. Throughout the 2000s and into the 2010s, persistently […]
October 2019
With Peak Brexit Stress Seemingly Passed, Should UK Investors Boost Sterling Allocations?
No, sterling-based investors should not change their currency hedge ratios or their allocations to sterling-denominated assets based on potential Brexit outcomes.
September 2019