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20 Top Whitepapers from May 2020

Popular and Trending Papers from May 2020

How long of a lull is too long? The answer to the question depends on the context. Though necessary in order to combat the present epidemic, this 'Great Lockdown' that we have been collectively experiencing also represents a lull in global economic activity. The longer that it persists, the more damage will be done to companies of all sizes and to the employees that work for them. Many U.S. states are already in the process of reopening, hoping that increased social activity doesn't spawn a new wave of infections and that the curve has been sufficiently flattened. 

Our list of 20 top papers for the month of May includes several on the investment implications of the present crisis, as well as what the next phase of the recovery may look like. Be sure to check out some of the insightful webinars and podcasts, and please note - all 20 papers may not be visible in some regions due to content-specific geographic restrictions.

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After the Great Lockdown: Investment implications (PGIM, May 2020)

In this latest Megatrends piece by PGIM, the authors draw on the insights of more than a dozen investment professionals from across the firm to examine the new "COVID-19 reality" and discuss the impact and opportunities for long-term investors.

Finding the Greenest Generation: ESG views across the generations (LGIM, 2020)

For compliance reasons, this paper is NOT accessible in the United States and Canada

LGIM attempts to discern whether gender or generation (Gen X, Millenials, or Baby Boomers) influences the ESG preferences of defined contribution pension participants.

Webinar: Which future for your illiquid assets? (Candriam, May 2020)

Candriam looks at how U.S. real estate investors are coping with the new reality of closed retailers, restaurants barely surviving, and employees working from home. How are they managing both new and existing investments in this environment?

Phase II: The next chapter (KKR, May 2020)

What will the next chapter hold? Now that capital markets have swiftly recovered, 'Phase II' as KKR coins it, may consist of several quarters of deleveraging in the corporate sector, and an investment regime change that requires new ways of thinking for portfolio managers.

Webinar: Roadmap to recovery (Invesco, May 2020)

For compliance reasons, this paper is only accessible in the United States

Invesco attempts to identify the way forward as the world trudges through the present pandemic, discussing both long-term and short-term implications for the global economy in this webinar.

Podcast: A decade of change in global high yield (Federated Hermes, May 2020)

The high yield debt market has evolved significantly over the last decade, due partly to globalisation, sustainability, the rise of new instruments, and other factors.

Webinar: Investing amidst monumental change (Baillie Gifford, May 2020)

Tim Garratt, client director in the LTGG Team at Baillie Gifford, presents a webinar on the benefits of investing amidst monumental change with an introduction from Diana Philip, client director in the EMEA Team. Some or all of the companies mentioned in this webinar may be investments in funds managed by Baillie Gifford.

When Risk is Literally ‘Off the Charts’ (LGIM blog, 2020)

For compliance reasons, this paper is NOT accessible in the United States and Canada

Good market-risk indicators are hard to come by. While many price- or sentiment-based indicators are good at highlighting what type of risk environment we have been in, precious few can claim to give a contemporaneous – let alone forward-looking – signal that the market is moving into a significantly different regime.

U.S. Monetary Policy Stimulus in Response to COVID-19 (Janus Henderson Investors, May 2020)

For compliance reasons, this paper is only accessible in the United States and Canada

Janus Henderson describes the full scope of direct and indirect lending programs that the US Fed introduced in response to the COVID-19 epidemic.

Emerging Markets: Market dislocation creating opportunities (Amundi, May 2020)

For compliance reasons, this paper is NOT accessible in the United States

Both Covid-19 and the dynamics of the oil market have significantly affected emerging market economies over the past several months. But the dislocations in markets that they cause can also lead to opportunities for discerning investors.

Why Climate Action is Key to a Resilient Recovery (Federated Hermes, May 2020)

For compliance reasons, this paper is NOT accessible in the United States

After the pandemic, world governments should combine stimulus measures with efforts to address climate change, in order to ensure a sustainable future.

Modeling the Effects of Coronavirus on U.S. Real Estate (Nuveen, May 2020)

How does real estate respond to volatile financial markets? Nuveen models the effects of the recent coronavirus crisis on 50 U.S. cities with intriguing results.

Webinar: When low volatility isn’t low (Intech, May 2020)

For compliance reasons, this paper is only accessible in certain geographies

How is it possible that low volatility strategies underperformed during the recent drawdown? It could come down to difference in implementation. Intech explains further in this webcast.

Defined Contribution in Review: COVID-19 edition (Janus Henderson, May 2020)

For compliance reasons, this paper is only accessible in the United States and Canada

Janus Henderson's latest Top DC trends and Developments papers investigates the impact of COVID-19 on plan sponsors and updates on US pension legislation.

Responsible Investing: Critical issues and indicators Q1 2020 (Calvert)

For compliance reasons, this paper is NOT accessible in the United States and Canada

A closer look at the facts, figures and trends that impact Responsible Investing.

The Future of the Health Care Sector: The analyst view (Capital Group, May 2020)

For compliance reasons, this paper is only accessible in certain geographies

Analysts at Capital Group describe what the future of health care will look like. More specifically, our weapons against COVID-19 may arrive in waves - first increased testing and tracing, then therapeutics, and finally vaccines.

Podcast: Some factors are more equal than others (Robeco, May 2020)

Could the value factor be broken? After a decade of underperformance for Size and Value, Robeco portfolio managers discuss these and other quant-oriented questions in a podcast format.

Introduction to Farmland Investing (Meb Faber, 2020)

Farmland has proven to be a unique asset class that has delivered superior returns with relatively less risk or volatility, and there are additional benefits that farmland adds to the overall diversification of most portfolios.

Ten Reasons a 'Greater Depression' for the 2020s is Inevitable (Nouriel Roubini)

Ominous and risky trends were around long before Covid-19, making an L-shaped depression very likely.

Value vs Growth, Active vs Passive and other topics (Aswath Damodaran, May 2020)

This post contains recent musings from Professor Aswath Damodaran including, amongst other things, the debates about active vs passive, small vs large, and value vs growth investing.