The Most Popular and Trending Papers from April 2017
In last month's top papers, emerging markets feature as a strong theme, alongside ESG. Other topics covered include value vs growth, stocks vs bonds, and reflation vs stagnation.
All of these papers are free to access for Savvy Investor members.
ESG Institutional Investor Survey (SSGA, 2017)
In this 24-page survey SSGA finds that, in addition to targeting positive social or environmental impacts, ESG criteria are increasingly seen as capable of improving investment returns.
Emerging markets debt: Here and beyond (Aberdeen AM, 2017)
Low or negative yields continue to proliferate across much of the developed world. As a result, fixed-income investors who normally stick close to home are searching far and wide to find ways of generating additional income in their portfolios.
Stocks/Bonds: The Fire and Ice Debate (Man Group, Mar 2017)
The last 20 years have seen negative correlations between stock and bond prices. Investigating why this is, the authors look back to previous instances where the metric has fallen to a low level to try to understand what this means for asset prices today.
Capital Market Assumptions: BlackRock's methodology for long-term returns (2017)
What investment returns can we expect in the long term across asset classes? This document presents the methodology used to calculate the BlackRock Investment Institute’s long-term equilibrium capital market assumptions.
The Australian Superannuation Industry (ASFA, Mar 2017)
This 42-page paper gives a helpful historical overview of the industry. It covers different areas: the history of superannuation, the current industry structure, market concentration and scale, trends in industry structure, and more.
From Stall Speed to Reflation: A Turning Point for Investing (PineBridge)
Markets have entered a new phase of renewed confidence, growth and prices. The authors of this paper argue that success ahead will require a more active approach by investors.
What makes EM Debt attractive – even under Trump? (BNP Paribas, Apr 2017)
As investors in Emerging Markets Fixed Income, the key question that we therefore currently have to address is how his plans may impact the emerging market countries in which we invest and, when building the exposures in our portfolios, we need to look at what he has been saying and what we think he may do.
Securitised Bonds: Finding Security in Bond Markets (RLAM, 2017)
Secured (or securitised) bonds still carry the stigma of the 2008 financial crisis. But stigma often spells opportunity, and the fixed income specialists at RLAM argue that secured bonds are often mispriced, due in part to an institutional reliance upon credit agencies.
2017 ESG Trends to Watch (MSCI)
This paper by MSCI explores some of the key ESG trends investors and industry observers should be keeping an eye on this year.
Three ways to successfully implement factors and smart beta (Robeco, 2017)
Robeco aims to provide a clearer picture of what factor-based investing actually is, suggesting three ways in which investors can implement quantitative strategies.
The Future of Emerging Market Equities (BNP Paribas, Apr 2017)
Is the recent rebound in relative performance structural or just temporary mean reversion?
Getting Real Exposure: Implementing a Real Asset Strategy (QMA)
Implementing an allocation to real assets comes with some unique challenges: how to allocate, how to fund the allocation, and whether to source real assets directly, through a diversified liquid fund of real assets, or some combination of the two.