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Investment Commentary_
Rathbones In the KNOW blog: The Abominable Bond Men
The UK government has shattered against a new generation of bond vigilantes. Halloween came early this year, notes multi-asset fund manager Will McIntosh-Whyte.
Baillie Gifford Multi Asset Quarterly Update
Investment manager Scott Lothian reflects upon the recent drivers of performance across investment markets, how the current environment is influencing investment decisions, and the key risks and opportunities for the Multi Asset portfolio. Capital at risk.
BNY Mellon: Preparing for accelerating slowdown
The BNY Mellon Sustainable Real Return team is de-risking its equity exposure ahead of a potential recession but sees opportunities in alternatives and esoteric areas.
M&G: Are we there yet? Episode 4 - Bracing for impact
Though still a small part of the market, impact investing is catching on with mighty speed due to its distinctive qualities. Just how much of an impact does impact investing have?
Columbia Threadneedle: Are US corporate earnings set to tumble?
The markets are heavily focussed on economic data at present with US CPI the highlight this week. As a paid-up member of the economists trade union, Im all in favour of that but in this weeks macro update I want to look at something else: the prospects for US corporate earnings. And let me warn you, I think the outlook is bleak.
Schroders: CIO Lens Q4 2022: we need to talk about yields
At a challenging time for markets, find out the views of leading investors from around Schroders, including Johanna Kyrklund on the importance of teamwork and why bond yields are starting to draw her attention.
Baillie Gifford: Japanese Equities Update
In this recent webinar, fund manager Matthew Brett and investment specialist Thomas Patchett, explore the environment and opportunities that are arising for growth investing within Japan. Capital at risk.
T. Rowe Price: Midterm Election Preview: What Investors Need to Know
Midterm elections could shift the balance of power in Congress, limiting the Biden administrations ability to pursue its agenda through legislation. In this scenario, battles over extending the debt ceiling could roil the market. Regardless of the outcome, federal agencies will be an important tool for Biden to advance his policy priorities.
Rathbones In the KNOW blog: Schrödinger's assets
Property funds are stinging investors once again because of a run of redemptions. Senior multi-asset investment specialist Craig Brown notes their net asset values are in a happy superposition right up till the point they get measured.
Columbia Threadneedle: Exploring the attractions of private equity for the growth investor
Private equity has been a dedicated element of F&C Investment Trusts portfolio over many decades.
Schroders: Video: what's the cure for bond markets' hangover?
In this short video Andy Chorlton, Head of Fixed Income, talks about the hangover following more than a decade's "overindulgence" driven by low rates, quantitative easing and central banks' readiness to intervene at the first signs of trouble. So what's next?
Schroders: Climate and net zero frameworks: know your CDPs from your TCFDs
Some of the most important climate-related financial initiatives including their focus and what they seek to achieve
Schroders: US midterms: three outcomes and what they mean for markets
A bad result for both parties could be the best one for investors, not least by giving the Federal Reserve a clear run at bringing inflation to heel.
Schroders: Quarterly markets review - Q3 2022
A look back on markets in Q3, when central banks made clear that their priority is fighting inflation.
Schroders: Why this economic cycle is different
Unique circumstances mean there are no clear cut lessons from history, making this economic cycle particularly hard to categorise.
Columbia Threadneedle: Assessing the impact
A range of factors have driven the rapid growth in sustainability-orientated investing. Greater awareness of issues like climate change mean that individuals are increasingly keen to align their investments with broader beliefs and consumer behaviours. At the same time, regulatory shifts mean that Environmental, Social and Governance (ESG) related factors and preferences need to be considered as part of the financial planning process.
Columbia Threadneedle: Insights Have we avoided a financial crisis?
In this weeks macro update we consider whether the dramatic U-turn by Britains new Chancellor has avoided a financial crisis in the UK. We will also look at another sudden announcement a plan by the German government to cap their energy bills, a plan that is bigger, bolder and more complicated than Liz Trusss.
M&G: Impact investing doesnt mean compromising on returns
A common misconception around responsible investment approaches is that investment returns must be sacrificed in exchange for positive environmental or social benefits. In this article, we find out why this isnt the case for impact investors.
M&G: Quarterly equities outlook - Q4 2022
Please find below the link to our Q4 Quarterly Outlook from the M&G Equities Team, Are we there yet?.
Axa IM: More pain threatened
With sentiment so weak and global risks so stark, keeping money in cash is not a bad strategy. Rates are higher than they have been since the start of the millennium.
Rathbones In the KNOW blog: Being green is in fashion
Fashion companies are falling over themselves to show they are improving their questionable sustainability credentials. Yet some of their marketing has got ahead of realities of the shop floor, notes sustainable multi-asset investment specialist Rahab Paracha.
AXA IM: UK Reaction: Unemployment shifts lower on shrinking workforce
The August LFS data showed the UK labour market remains hot and whilst labour demand is beginning to cool, constrained supply and rising inactivity is maintaining pressure.
Jupiter AM: An all-weather strategy for a tough macro environment
Global markets have faced a rough ride this year. How do investors navigate this choppy and uncertain environment? Ariel Bezalel and Harry Richards show how their strategys well-considered approach has historically delivered through some rough patches over the years.
Schroders: What role can renewables play in strengthening Europes energy security?
Winter threatens to bring the first severe European energy crisis in decades. As leaders grapple with potential solutions, renewable energy capacity is in the spotlight.
Jupiter AM: Notes from the Investment Floor: The Fed came in like a wrecking ball
Vikram Aggarwal discusses a highly volatile environment for fixed income markets, as rapid interest rate rises upend the basis upon which the system has been built.
Baillie Gifford Multi Asset Investment Update Webinar
Please join us at our quarterly Multi Asset Investment Update on 14 October at 11am.
BNY Mellon: Real Return time capsule
An interactive look, month-by-month, at the strategys high level positioning since July 2021.
BNY Mellon: Consumers embrace digital change
While the pandemic acted as a catalyst for individual entrepreneurship and changing consumer habits, will it be enough to sustain the creator economy? Here, Walter Scott investment manager Laura Clark explores the market landscape.
BNY Mellon: Bridging the gap
Responsible investment could see a US$1.87 trillion windfall if women invested more according to research commissioned by BNY Mellon Investment Management. But how can the investment industry help achieve this?
BNY Mellon: Seven hallmarks of leading companies
Walter Scotts research team outlines seven important personality traits that may help companies be resilient in a tough market climate.
BNY Mellon: Recovering from a bond bear market
Although this bond bear market has been the worst hes ever seen, Paul Brain, manager of the BNY Mellons Global Dynamic Bond strategy, says there are glimmers of hope on the horizon.
Cora: Practical Protection Podcast - S6 Ep 3 Consumer Duty
For this episode, Im joined by Alain Desmier from Contact state. Alain has had many years of working within advertising and marketing, and has run two lead generation companies too. He now focuses his time on consumer consent.
Rathbones In the KNOW blog: How to lose friends and alienate people
The UK government has given a textbook example of how not to deliver a message. Our multi-asset portfolios lead manager David Coombs picks over the wreckage and finds coherence, but poor execution.
Fidelity Adviser Solutions: Challenges and strategies for income in retirement
The introduction of unfettered drawdown means planning an income in retirement is far from straightforward and identifying a sustainable withdrawal rate is crucial given the prospect of fund exhaustion has increased. Fidelity's Paul Richards and Paul Squirrell discuss important areas when considering retirement income.
Orbis: Quarterly Commentary Orbis OEIC Global Cautious
The Global Cautious Strategy entered 2022 with its dollar exposure materially below that of its 30/70 benchmark on an accounting basis. We much, much prefer to look at currency exposures on a fundamental basisone that considers the location of a companys assets, sales, and expenses, not just where its shares are listed.
Orbis: Quarterly Commentary Orbis Global Balanced
The Global Balanced Strategy entered 2022 with its dollar exposure greatly below that of its 60/40 benchmark on an accounting basis. We much, much prefer to look at currency exposures on a fundamental basisone that considers the location of a companys assets, sales, and expenses, not just where its shares are listed. Shell, for instance, shows up as a pound asset, but its assets and revenues are mostly in other currencies, chiefly the dollar. On a fundamental basis, Global Balanced was still substantially underweight the dollar coming into this year.
Orbis: Quarterly Commentary Orbis Global Equity
The heady days of the Everything Bubble of 2021 now seem like a distant memory. Global equities have declined over 20% in US dollars since the start of the year, and the most speculative areas of the market have seen far steeper losses. That said, global markets still do not look particularly cheap and there are plenty of real-world risks weighing on both sentiment and fundamentalsrampant inflation, war in Ukraine, and an energy crisis, to name just a few.
AXA IM: Artificial Intelligence: Responsible AI and the path to long-term growth
Artificial Intelligence (AI) has drastically transformed the business environment and become critical to companies across a broad range of sectors from finance to healthcare and automotive.
AXA IM: Biodiversity loss: Understanding and responding to a global systemic risk
One of the fundamental motivations for responsible investment is to better understand present and future systemic risks. In recent years this momentum has seen climate and biodiversity emerge as key themes. Climate has understandably dominated, but we believe damage to the ecosystems that support life on land and in the oceans represents an equivalent threat to long-term economic sustainability.
AXA IM: Take Two: BoE intervenes after sterling hits record low, Eurozone inflation hits record
The Bank of England (BoE) said it would buy UK government debt known as gilts to address a dramatic market reaction to Chancellor Kwasi Kwartengs announced fiscal plans.