Industry news and views from Panacea and our partners.
Investment Commentary_
Columbia Threadneedle: Climate change to bear upon banks financial performance
For investors evaluating financial institutions, the climate crisis will soon become a key consideration. Our research shows there is already a wide dispersion between the sector leaders and laggards
Artisan Partners: Transcending Constraints in the Emerging Markets
Watch Artisan Developing World founding PM Lewis Kaufman discuss the types of businesses best positioned to transcend macroeconomic constraints in EM countries. (1min.)
T. Rowe Price: The cycle where are we? Implications for global equity investors
Complex environments need active management to help steer portfolios in the right direction.
Columbia Threadneedle: Walking the delicate path to normalisation
In spite of summer jitters in financial markets, we expect governments will cautiously normalise monetary policy and global growth will remain robust.
Columbia Threadneedle: Process is everything for Pan European Smaller Companies
Two factors have interested us in Europe in 2021. First, there has been a value rally since November 2020, particularly in smaller companies. The onset of the pandemic in Europe in early 2020 initially saw value and cyclical stocks, typically tied to consumer and business spending, perform poorly.
BNY Mellon: Can investing impact the world?
Whether it be green or blue bonds, social or rhino bonds, impact investing offers a remarkable growing array of opportunities. But regardless of the opportunity, investors should be wary of impact washing, says Insight Investment head of responsible investment and stewardship, Joshua Kendall.
Rathbone Global Opportunities Fund - investment update 28 Sept 2021, 10:00am
In early 2020, James Thomson, manager of the £3.9 billion Rathbone Global Opportunities Fund declared a 'buying opportunity of a lifetime'. Find out about his purchases, fund performance, and investment outlook for the rest of the year and beyond.
BNY Mellon: The journey to a carbon-neutral economy: the electrification challenge
Walter Scotts investment team consider the challenge and opportunity in the coming energy transition.
BNY Mellon: Making up for lost time on climate policy
Will the US be able to cut greenhouse gas emissions in half by 2030 despite a four-year period of climate policy stagnation? If the federal government incentivises the electric power sector to transition its energy source, it may be possible, according to Paul Flood, multi-asset portfolio manager at Newton.
BNY Mellon: Is employee wellbeing the new E in ESG?
The way companies approach employee wellbeing can be a critical test of their culture. Can they come through the current crisis with a stronger and more meaningful workplace culture or will Covid-19 simply expose this as an empty gesture? Alan Edington, investment manager at Walter Scott, considers some corporate options.
BNY Mellon: Is our current economic system fit for purpose?
With ever-greater awareness of the flaws of our take, make and waste economic model, there is now a determined shift towards a more circular economy, says Sasha Thompson, Investment Analyst with Walter Scott.
BNY Mellon: Facing up to the net zero challenge
With US President Joe Biden this year pledging to cut carbon emissions by 50% below 2005 levels by 2030 and China, the UK and Japan also committing to major greenhouse gas reductions, how can global investors play their part in the wider fight against climate change? BNY Mellon Investment Management managers survey the landscape ahead.
BNY Mellon: Could environmental spending threaten stability?
High government spending during the Covid-19 pandemic has been criticised for threatening future economic stability, according to Newton Real Return global strategist Brendan Mulhern. Now, with substantial portions of the US and Europes relief packages being used for environmental initiatives could efforts to combat climate change contribute to this threat?
Orbis: Valuations for the worlds most expensive stocks have ballooned. But are they overpriced?
Although average prices for global stockmarkets have been on the rise, that growth has been skewed towards the expensive end of the market. Now is the time to look at whether those inflated valuations still make sense.
Sanlam: The rebranding of the oil & gas majors: greenwashing or sound common sense?
Interest in renewable energy sources has intensified as countries seek to move away from fossil fuels to meet the climate change targets set out in the Paris Agreement.
The Baillie Gifford Managed Funds European Champions
European investment specialist Thomas Hodges answers some of the questions most often asked about the Managed Funds European equity holdings. Capital at risk.
Baillie Gifford: Multi Asset Income Fund Retrospective
As the Multi Asset Income Fund reaches its third anniversary, Baillie Gifford investment managers Steven Hay and James Dow reflect on successes, the impact of the Covid-19 pandemic and inflations challenge. Capital at risk and income not guaranteed.
J O Hambro: Businesses often promote workplace diversity to investors as a key performance driver
But a new report from responsible investing leader Regnan finds diversity strategies mean little without a focus on equity and inclusion
Artisan Partners: China: Stands Alone in an Emerging Markets Context
Watch Artisan Developing World founding PM Lewis Kaufman discuss the massive skilled labor force driving Chinas productivity growth. (1min.)
Rathbones In the KNOW blog: Stretching subscriptions
Subscription-driven cash flows have been the gold standard for many industries for decades now. Senior multi-asset investment specialist Craig Brown takes pause at coffee-as-a-service.
J O Hambro: H2 beyond CO2 Filling the gaps in the environmental case for hydrogen
Energy transition is one of the themes of the Regnan Global Equity Impact Solutions Fund, prompting our investment teams interest in deeply understanding potential risks and unintended consequences the subject of Regnans latest thematic research report: H2 beyond CO2 Filling the gaps in the environmental case for hydrogen.
Baillie Gifford: Multi Asset Income Fund - The Past is a Foreign Country
Baillie Giffords Theo Holland outlines the characteristics that make an emerging market attractive to income investors and explains how Indonesia became an Asian success story. Capital at risk and income not guaranteed.
Rathbones In the KNOW blog: Spicy stocks and birthday treats
Punchy valuations for high-growth stocks are at risk of getting upended by any rise in bond yields. Our head of multi-asset investments, David Coombs, explains why hes building up his cash.
Aviva Investors: Cummings, carbon and COP26
In a wide-ranging interview with AIQ, the former UK minister of Energy and Clean Growth explains why the private sector needs a seat at the negotiating table if the world is to solve the climate crisis. Words by Miles Costello.
Aviva Investors: Supply-chain ripples
Some of the worlds biggest companies are setting ambitious net-zero targets, with significant implications for their supply chains. How impactful could the ripple effect be in helping to meet the goals set out in the Paris Agreement?
Jupiter Asset Management: Will gold regain its lustre as stimulus kindles inflation hopes?
Ned Naylor-Leyland, Head of Strategy, Gold & Silver, says gold looks interesting at the moment as prices reign much below the peak seen a year ago amid uncertainty posed by new variants of coronavirus.
Columbia Threadneedle: Global Sustainable Outcomes News & Views Q2 2021
Theres only one way to summarise Q2: a world divided. In North America and Europe economic recovery exceeded expectations as successful vaccination programmes supported market reopening. Here in the UK we emerged from a bleak winter of strict lockdown desperate to spend our savings and enjoy life again. And its this pent-up consumer demand that has helped drive robust economic recovery in those economies that have once again opened up. Employment, too, is quickly on the road to recovery.
Jupiter Merlin Weekly: A catastrophic failure of Western policy
As tragic scenes unfold in Afghanistan, the Merlin team give their view on the causes and ramifications of this foreign policy failure for the US and its allies.
Jupiter Asset Management: Engagement: an open discussion on the critical role of ongoing corporate engagement and policy work
What is our philosophy behind engaging companies? Participating in our Sustainable Investing Academy series, Edward Bonham Carter, Ashish Ray and Andrew Mortimer explain our approach to governance that takes into account the interests of competing stakeholders and how its an evolving and continuous process. We are pleased to share the full-length video recording of the event below.
Jupiter Asset Management: Notes from the Investment Floor: Common prosperity in China
Salman Siddiqui explains why he doesnt think Chinas focus on common prosperity will be negative for the private sector over the longer term.
Aviva Investors: In brands we trust
The tech-driven trend toward direct-to-consumer is transforming consumer brands, their intermediaries and their marketing. Intimate relationships with customers and new shopping experiences are alluring, but companies must tread a fine line between hyper-personalisation and intrusion.
Columbia Threadneedle: Committing to zero carbon real estate
Our UK Real Estate strategy to reach net zero by 2050 addresses a major source of risk for commercial property investors and aims to deliver better outcomes for all stakeholders
Artisan Partners: Constraints in the Emerging Markets
In an interview with Citywire, Artisan Developing World founding PM Lewis Kaufman discusses where he is finding opportunities amidst a generally constrained economic backdrop in the emerging markets.
Rathbones In the KNOW blog: Chinas challenging consumer
Only comedians can insult their customers, notes head of multi-asset investments David Coombs. If change needs to come, stewards usually get better results.
Columbia Threadneedle: Net Zero Strategy and pathway
The following Strategy and Pathway, has been developed in line with the Better Buildings Partnerships Net Zero Carbon Pathway Framework.
Sanlam: Artificial Intelligence: changing the face of retail
The Covid-19 pandemic presented both a crisis and an opportunity for retailers. Evolving changes in the sector have been accelerated by the pandemic, as lockdown forced physical shops to shut their doors, consumers attention quickly turned online.
Sanlam: Economic output has recovered, but should we fear a financial reckoning?
From the rapid nosedive following lockdowns in March 2020 to springing earnings in the first half of 21, weve moved through this business cycle at top speed. Its time to take a look at potential market implications and ask ourselves: does economic payback await?
Scottish Mortgage on the future of space travel
A trip to Mars may not be high on the average persons to-do list, but Scottish Mortgage is prepared to embrace the radical thinkers and their companies striving to get us there. Capital at risk.
M&G: A Circular Economy: Picking The Easy Net-Zero Fruit
Most nations have today accepted the challenge to cut greenhouse gas emissions to net zero by 2050. The need to replace fossil fuel activities with cleaner energy sources has taken centre stage.
T. Rowe Price: Is the Value Rally in Emerging Markets Sustainable?
After a decade of strong value outperformance in emerging market equities from 2001 to 2010 came a decade of sustained underperformance. In 2020, the value/growth divergence in EM reached an extreme not seen before, driven by the deep recession created by the global coronavirus pandemic.