Industry news and views from Panacea and our partners.
Investment Commentary_
AXA IM: UK Reaction: Employment slowing as wage growth picks up the pace
The UK unemployment rate rose to 4.2% in June 2023 (consensus 4.0%) its highest level since October 2021 driven by falls in employment and rising inactivity adding to pick-up.
Pictet: The controversial rise of e-fuels
Loved and loathed in equal measure, e-fuels are now regarded in policy circles as a possible alternative to battery power for a new generation of green vehicles.
Artemis: US Equities An inflection point?
Whilst US Equity indices continue to perform exceptionally well, risks appear on the horizon that necessitate taking a more selective approach to generating returns. Cormac Weldon, manager of the Artemis US Select and Artemis US Smaller Companies Funds, will delve into investing in a higher rate environment, focusing on the opportunities and threats across the market cap spectrum.
Jupiter AM: The twin risks facing bond investors
Hilary Blandy describes how fixed income markets must weigh up competing risks on rates and inflation. Amid this uncertainty, however, bond investors are paid to wait.
Columbia Threadneedle Investments: Global Market Outlook: Are interest rates set to fall?
Inflation is moving in the right direction and the US is seemingly at or near peak interest rates. What about the UK and Europe? Steven Bell, chief economist EMEA, explains what a more constructive outlook may mean for markets.
Rathbones In the KNOW blog: Whats in a name?
Industry veteran David Coombs, our head of multi-asset investments, gets cranky about lazy labelling and job name inflation as he dispenses 40 years wisdom to budding finance acolytes.
Baillie Gifford: Sustainable Income: built to last
High interest rates may throw the point of income investing into question. Baillie Giffords Lucie Majstrova explains how the Sustainable Income Strategy goes about generating inflation-busting growth that lasts.
Prudential: Friend, Foe, FAD - Cashflow modelling is for life not just for retirement!
Weve teamed up with three of the most popular Cashflow systems in the UK - Voyant, FE CashCalc and FinCalc, to bring you three Cashflow modelling best practice sessions and to discuss how it can assist advisers with their Consumer Duty requirements.
Quilter Cheviot: Taking Stock - Room For Error
Polaroid was once described as a juggernaut of innovation by the Boston Globe. It was declared bankrupt in 2001.
Columbia Threadneedle Investments: Asset allocation: why we still like Japanese equities
The country has taken the latest step on its long-term path to improved corporate capital efficiency, and in a region we have long favoured we continue to see a constructive medium-term backdrop.
PIMCO: Secular Stars: Why India and Indonesia Are Set to Shine as Global Economic Leaders
We believe the two resource-rich economies once labeled fragile will be global growth leaders over the next several years, driven by prudent policies and stable macro fundamentals.
Pictet: How to put the world back on the net zero path within 18 months
Clean energy expert and author Chris Goodall says there are three steps the world must take by the end of next year if it is to achieve decarbonisation.
AXA IM: UK Reaction: Energy pushes headline lower, but strength in services sees core remain elevated
CPI inflation eased to 6.8% year-on-year (y/y) in July, driven primarily by falling energy prices. This came in line with Refinitiv consensus expectations and Bank of England (BoE) forecasts.
Quilter Cheviot: Taking Stock - After The Bell Episode 14: The Behaviour Gap
The most ominous graph in property. Work from home and Office REITs. Buffetts bet on US housebuilders. The cost of investor misbehaviour. Troys latest newsletter.
Quilter Cheviot: Taking Stock - The Convenience Economy
Stocks should trade on higher valuations than they have done in the past, because it has never been easier to be an investor.
M&G Wealth: Illustrate and Apply goes live
M&G Wealth platforms new Illustrate and Apply tool is set to make the SIPP new business journey even easier, explains Gavin Hughes, Head of Proposition Delivery.
Prudential Risk Managed Collectives Q2 2023 Update
Phil Butler, Portfolio Manager at the Treasury and Investment Office (T&IO) and Paul Fidell, Senior Business Development Manager review how the Risk Managed Active and Passive funds have performed in Quarter 2 2023 and the underlying assets contributing to this performance.
Quilter Cheviot: Taking Stock - After The Bell Episode 13: Smart Money Moves
This week we were joined by Charlie Parnell, Founder of Money Guided. Funding your twenties in your thirties. The dangers of avoiding decisions.
Columbia Threadneedle Investments: CT Responsible Global Emerging Markets Equity Strategy ESG Profile and Impact Report 2022
Discover the Strategys alignment with the Sustainable Development Goals, how it ranks versus its benchmark on sustainability metrics, where it is on its net zero trajectory, and examples of company engagement.
Pictet: Why utility companies are a key source of transition alpha
Utility companies are essential to the green transition. Which means climate focused investors cannot afford to ignore them.
Orbis: Is there still value in high dividend yielding companies?
Investment returns can be roughly broken down into the sum of two components: growth and yield. When a business generates cash flow, it can be reinvested to produce future growth, paid out to shareholders, used to pay down debt, or some combination of the three.
Allianz Global Investors: Is China getting into balance sheet recession?
Many market participants breathed a sigh of relief over the softer US core consumer price index (CPI) inflation print for June.
PIMCO: Why Now May Be a Good Time to Invest in Commodities
PIMCO has a positive outlook for commodities based on supply constraints, the transition to a net-zero economy, and their historical correlation with inflation.
Pictet: Science versus cancer
Cancer is affecting ever more people across the globe. Science offers some hope, from creating super-charged cells designed to fight the disease to powerful new tests able to diagnose it from just one drop of blood.
Schroders: Active ownership: three ways to improve investor engagement
Our latest analysis of best practice includes the findings of a survey of 350 investee companies from 45 countries, a GMO crops engagement case study and our formula for successful engagement.
Prudential: The AI Revolution
ChatGPT has become the fastest-growing application ever, reaching 100 million users in just two months.
AXA IM: Take Two: Fed indicates interest rates could rise further; Japans GDP beats expectations
Federal Reserve (Fed) officials were divided over further interest rate hikes in July, minutes of the US central banks latest meeting showed.
Artemis: Forget trying to get rich how about not getting poorer?
Simon Edelsten discusses whether investors might be wiser to consider "steady Eddie" stocks over chasing more generous dividends. the preservation of wealth in the current environment, interest rates and inflation considered, might be wiser than looking for growth.
Artemis: Fullers: UK smaller company deep dive
Simon Emeny, CEO of Fullers, discusses the pub chains business model and how they are managing inflation and energy costs while Mark Niznik, manager of the Artemis UK Smaller Companies Fund, explains why we hold the firm.
T. Rowe Price: The Outlook for US Smaller Companies Looks Increasingly Compelling
While the US equity market has become increasingly concentrated at the top end over the past decade, smaller?company valuations are at their most compelling levels in decades.
Artemis: Are giant tech stocks the new government bonds?
Jacob de Tusch-Lec looks at the tech behemoths and ponders whether they're now viewed as safe havens in the way government bonds have been in the past. Should investors exercise caution?
Baillie Gifford Japanese Fund Update
Investment manager Matthew Brett reflects on recent drivers of Japans market performance, shifts in the economic environment and the outlook for the future.
Pictet: Water, water, needed everywhere
Water is essential to life, but how to distribute it has become a thorny issue. We believe both public and private investment is essential.
Jupiter AM: A fairytale ending?
Mark Nash, James Novotny and Huw Davies say policy makers could keep interest rates higher for longer as strong growth foundations underpin inflation.
Quilter Cheviot: Taking Stock - After The Bell Podcast
This week we were joined by Charlie Parnell, Founder of Money Guided a digital platform helping people make better decisions with their money
Schroders: A snapshot of the global economy in July 2023
What Katy Perry has in common with the US jobs market, the Feds struggle to tame inflation and why the UK should brace for 6.5% interest rates.
Baillie Gifford Managed Fund: Investing in robots, watches and sausage rolls
Themes such as AI are exciting, but only one of many themes present in the Managed Fund. Discover the ways in which our regional approach to stock picking results in a diverse portfolio of growth companies. Capital at risk.
Rathbones In the KNOW blog: Barbenheimer, renewables and the power of hype
Rahab Paracha, Rathbones sustainable multi-asset investment specialist, finds lessons for sustainable investors in Hollywood hoopla.
Latest PruFund Growth and Cautious Reports whats new?
Examples of investments within PruFund to give your clients some insights as to where their money is invested
Artemis: Summers not cancelled
Murmurings towards the end of last year that the cost-of-living crisis would effectively cancel Christmas were wide of the mark. Now, with positive data belying negative sentiment, Ed Legget notes that summer is also going ahead as planned which has made him positive on consumer discretionary stocks such as airlines.