Man Group wins Best Investment Paper 2020
The Savvy Investor Awards 2020 celebrate the best investment and pensions papers from the last twelve months.
The Award for Best Investment Paper 2020 is given to Man Group for their "Inflation Regime Roadmap".
This 30-page report from Man Group examines the historical drivers of inflation and explores the likely path of inflation in the years ahead. The authors present a thesis that the coming decade will see a major transition towards a new, inflationary regime, with major implications for asset allocators.
Best Investment Paper 2020
Inflation Regime Roadmap (Man Group)
We are living through an era where the word ‘unprecedented’ has become commonplace. Many key economic indicators are at extreme levels – not just in terms of growth, but also deflation, rates, debt, and globalisation. For those making asset allocation decisions, one of the most pressing questions is the future path of inflation – a subject that is tackled head-on in this 30-page report from Man Group. After taking the reader on a brief history of inflation, the paper presents the argument that the current extremes will lead to major policy transitions in the years ahead, culminating in a new inflationary regime with dramatic implications for asset classes and investment strategies.
The authors caution that progress towards the new regime will be messy, not necessarily easy to discern, and contingent on policy responses. Therefore, they present a policy checklist and a roadmap to help investors monitor whether the premise of a new regime is playing out in the way they suggest. Finally, they suggest the investment strategies that will succeed if their macro forecasts are correct. This is a well-constructed paper, which tackles one of the most important questions facing long-term investors at the present time.
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