Industry news and views from Panacea and our partners.
Investment Commentary_
Columbia Threadneedle Investments: Where will the financial crisis end?
The collapse of Credit Suisse, an icon of European banking, has revived fears of the Global Financial Crisis (GFC).
Allianz Global Investors: Back to bonds? The new opportunity set in fixed income
Potentially improved yields and the prospect of peaking interest rates are boosting the appeal of bonds. While the near-term outlook is unpredictable as the path of inflation and growth remains uncertain weve identified four themes that may help investors build bond allocations and navigate volatile markets.
Pictet: Bank turmoil will shake economy but won't prompt a re-run of 2008
The state-orchestrated takeover of Credit Suisse and the problems afflicting US regional banks will undoubtedly have economic repercussions. But the chances of a severe credit squeeze are remote.
Schroders: What does recession mean for your portfolio?
We analysed 50 years of data to see how various assets have performed when economic growth is in decline.
Fidelity Adviser Solutions: 2023/24 tax tables
Fidelity Adviser Solutions 2023/24 tax tables are available with all the rates and thresholds for the coming year.
M&G: High Yield a fulcrum between greed and fear?
Last year was a brutal one for fixed income markets, although floating rate high yield credit was a notable bright spot and proved remarkably resilient. While conventional fixed rate high yield bonds sold off sharply, HY floating rate notes (FRNs) and European and US loans held up well and were able to generate a small positive return over the year.
M&G: Are emerging market bonds poised for a comeback?
2022 proved to be another difficult year for emerging market (EM) bonds, with the asset class facing headwinds on numerous fronts - from surging inflation and aggressive central bank tightening, to escalating geopolitical tensions and slowing global growth. While acknowledging the risks still facing EM assets, we think the macro backdrop should prove more supportive going forward.
M&G: Investment grade credit the sweet spot in fixed income?
At this stage of the economic cycle, we think investment grade corporate bonds look especially well placed, offering an attractive real yield combined with resilience and diversification qualities to help withstand a more challenging market backdrop.
Quilter Cheviot: Taking Stock - Marginal Gains
As far as I can tell, the strategy of pursuing marginal gains to improve sporting performance was coined by Dave Brailsford when he was performance director of British Cycling, and later repeated during his time as manager of Team Sky. The theory was that if they could just make a number of 1% improvements across a range of areas these would accumulate, and the result would be a material improvement in performance for their cyclists.
Rathbones In the KNOW blog: The world has changed
Failing lenders bring back memories of the dark days of 2008 and 2009. Rathbones head of multi-asset investments David Coombs explains why he thinks a global financial crisis is unlikely, but notes how technology has made banking easier for customers and harder for bankers.
M&G: Are bonds offering value once again?
Bond markets experienced one of their sharpest sell-offs on record in 2022, as concerns over persistently high inflation forced central banks to take a far more aggressive monetary policy stance, with the Federal Reserve pushing through a series of interest rate hikes. There were few places to hide in fixed income, as government bond yields climbed to their highest levels in over a decade, while credit valuations also came under severe pressure.
TIME Investments: Real assets for sustainable income investing
Join Fund Managers Roger Skeldon and Andrew Gill and Amy Henderson, Strategic Account Manager, as they discuss real assets for sustainable income investing.
AXA IM: Is transparency the answer to sustainability uncertainty?
Most asset managers across Europe in recent months have had to re-evaluate how they classify their sustainable funds and strategies.
T. Rowe Price: Global Asset Allocation Viewpoints: March Insights
Global growth is proving resilient in the face of tighter monetary policies; however, impacts of central banks tightening are still expected to weigh on the economic growth and earnings outlook in the back half of the year.
BNY Mellon: ADAS, on the road to autonomy
Managers at Newton explore potentially life-saving advanced driver assistance technology.
Pictet: Obesity the other epidemic
The world is in the grips of obesity epidemic and the race is on for a solution, be that through new drugs, technology or holistic treatments.
Schroders: Investment trusts: Shopping for discounts
UK investment trusts are trading at the widest discount seen since the financial crisis, according to recent research from Numis. The share price of the average investment trust was trading 13% below its net asset value in 2022
Columbia Threadneedle Investments: CT UK Social Bond Fund - The Big Issue Group
For over 30 years, The Big Issue has been at the forefront of social activism, working to dismantle poverty by creating opportunity.
AXA IM: Take Two: Fed Chair signals faster rate hikes are possible; China sets new growth target
Federal Reserve chair Jerome Powell signalled the possibility of a return to larger interest rate increases at the US central banks 21-22 March meeting.
M&G: Investment grade credit the sweet spot in fixed income?
At this stage of the economic cycle, we think investment grade corporate bonds look especially well placed, offering an attractive real yield combined with resilience and diversification qualities to help withstand a more challenging market backdrop.
Quilter Cheviot: Handling setbacks
The recent collapse of Silicon Valley Bank shocked markets. In todays Fund Buyer, we discuss why bankruptcies can provide the ultimate opportunity to gain a greater insight into how your fund manager manages their portfolio.
Quilter Cheviot: Turning on a dime
Over the last decade the US has steadily increased as a proportion of global indices. In this edition of The Fund Buyer, we consider whether the tide may be turning as other parts of the world begin to look more attractive.
Quilter Cheviot: Active anticipation
Over the last decade the US has steadily increased as a proportion of global indices. In this edition of The Fund Buyer, we consider whether the tide may be turning as other parts of the world begin to look more attractive.
Quilter Cheviot: Taking Stock - After The Bell Podcast
As bank bailouts are back in the headlines, we are taking a misty eyed look at the Great Financial Crisis and look for some parallels with today. We are also joined by Gill Clifford, who talks us through the implications of the changes to the pension rules announced during the Budget. And finally, JR pitches the most boring trade of all time.
PruFund Monthly update March 2023
Join Paul Fidell, Senior Business Development Manager, for the latest update on our PruFund range of funds where well review how the funds have been performing and the latest regarding any Unit Price Adjustments (UPAs) Register for 3pm session
Rathbones - The Sharpe End podcast: Sleepless in Silicon Valley
Trying to unpick the turmoil in the banking sector, the Rathbones multi-asset team discuss what happened and what it means for the future, and explain what action theyve taken as a result. Their gaze then shifts to our fair shores as they ask whether, after a few years in the investment wilderness, the UK could be on the precipice of some structural changes that might support the economy and perhaps the equity market too.
T. Rowe Price: When markets twist and turn, flex your Fixed Income
With a new year underway, uncertainty remains high with investors grappling with a number of different issues, including high inflation, geopolitical risks, and central banks continuing to tighten even as economic growth?slows.
Pictet: Reaching for the stars
Space is back in fashion. NASA is preparing to return to the moon, while billionaire entrepreneurs like Elon Musk and Jeff Bezos are promising to make us a multi-planet species. Is this really the way forward for humanity, or is our quest for the stars a futile one?
BNY Mellon: Walter Scott: To the next 40 years
Jane Henderson, Managing Director of Walter Scott reflects on the tough year we all faced in 2022. She reinforces Walters Scotts core belief that superior long-term returns are generated through ownership of great businesses with high levels of profitability and strong balance sheets and enduring growth. Watch this video to understand more about Walter Scotts investment process and the their commitment to their clients.
Allianz Global Investors: Fixed income outlook: harnessing a higher-for-longer conviction
A shifting outlook for inflation, interest rates and economic growth is creating a complex market environment. But we think investors may now be starting to come around to our belief that interest rates are likely to have to stay higher for longer to tame sticky inflation. With the prospect of further near-term market instability, investors may want to consider remaining flexible and deploying their risk budgets tactically and incrementally.
Jupiter AM: Fixed income solutions for a challenging environment
Whether you believe inflation will remain high, begin subsiding, or dont have a view, at Jupiter, we have a range of actively managed strategies designed to meet your investment needs.
Orbis: Value matters: Steering a course through uncertain markets
We often say that investment returns do not come in a straight line. The unwinding of the Everything Bubble is proving to be an excellent real-time case study.
Columbia Threadneedle Investments: SVB: Canary in the mine or little local difficulty?
The failure of Silicon Valley Bank (SVB) has had a dramatic impact on financial markets.
Discover Fidelity Adviser Solutions new Sustainable Investment Finder
How can you match sustainable investments to the issues your clients really care about? Julie Dreblow of SRI Services explains how Fidelity online tool can help you do just that.
Rathbones In the KNOW blog: 21st Century rumour mill
Work intrudes on head of multi-asset investments David Coombss vacation time as Silicon Valley Bank collapses. He marvels at just how fast information and misinformation can spread and suggests social media may be a risk to financial stability.
Quilter Cheviot: Taking Stock - After The Bell Podcast
Episode two of our new podcast Taking Stock - After The Bell is now available to watch on Quilter Cheviot's website. This week we cover pay rises at Pret a Manger, Greggs (sausage) roll out story, pointless projections and some pearls of wisdom from Warren Buffett.
M&G: Has inflation peaked?
We expect inflation to remain a key issue for investors in 2023, although we are starting to see evidence that pressures are easing, especially in the US where headline inflation is now well off its recent peaks.
M&G: Are emerging market bonds poised for a comeback?
2022 proved to be another difficult year for emerging market (EM) bonds, with the asset class facing headwinds on numerous fronts - from surging inflation and aggressive central bank tightening, to escalating geopolitical tensions and slowing global growth. While acknowledging the risks still facing EM assets, we think the macro backdrop should prove more supportive going forward.
Budget reaction: A glass half full Budget for the optimists
Richard Buxton assesses Jeremy Hunts first full budget, in which the Chancellor sought to incentivise companies to invest in and encourage re-participation in the workforce.
AXA IM: UK Reaction: Wages cool as job growth remains firm
The UK unemployment rate was unchanged at 3.7% in January 2023 (consensus 3.8%) as economic activity continued to rise but was offset by continued strength in employment.