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20 Top White Papers from July 2020

Popular and Trending Papers from July 2020

The full impact on economies of the COVID-19 pandemic at its height during significant shutdowns was reflected in some unprecedentedly negative GDP numbers (U.S. GDP -32.9% for Q2) recently. Most economies appear to have spluttered back to life in the last few weeks as lockdowns have eased, though with potential COVID flare-ups occurring, any recovery may be disjointed and slow.

The list of 20 top papers for July includes, for those who may have missed it, the Savvy Salary Survey for the Asset Management and Pensions Industries. Other papers look at the prospects for industries in transition, the Value/Growth debate and how the equity market recovery has affected long-term asset return forecasts. There are a range of views and insights to peruse, but kindly note that due to content-specific geographical restrictions, not all 20 papers may be available in every region.

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Salaries in the Asset management and Pensions Industries (updated Q3 2020)

In case you missed it – Savvy's Quarterly Survey of salaries within the Asset Management and Pensions industries.

Why is Consumer Debt Attractive for Insurers? (M&G Investments, Jul 2020)

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

M&G Investments suggests that insurance investors should consider the merits of investing in the consumer finance sector, as it has several attractive features, especially for those insurers subject to Solvency II.

Strategies for Building More Resilient Portfolios (Manulife blog, Jul 2020)

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

This paper from Manulife examines a range of strategies designed to help investors navigate increasing turbulent and unpredictable markets whilst also building some resilience into their portfolios.

Webinar: European real estate - the impact of COVID-19 (FTSE Russell, Jul 2020)

In this webinar, Oxford Economics' Head of global trade services, Lloyd Barton discusses the European listed real estate markets with FTSE Russell. They touch on current conditions affecting the industry and move on to examine its prospects.

The Oil and Gas Industry in Energy Transitions (IEA, Jan 2020)

This special report from the IEA focuses on the forces and different entities (technology, policymakers, investors etc.) that can help bring about an acceleration in energy transition. It also investigates what the consequences might be for various elements of the oil and gas industry.

The Future of Wealth Management — A CEO agenda (BCG, 2020)

BCG's 20th Global Wealth Report looks back at the key events and their implications for the industry over the past ten years, then suggests how the industry might change over the coming decade.

Global Family Office Report 2020 (UBS Global Wealth Management)

UBS Global Wealth Management's Global Family Office Report offers a unique insight into these most idiosyncratic of investors.

High Yield Through the Cycle (MFS blog, Jul 2020)

MFS argues for the inclusion of a high yield bond allocation within a diversified portfolio, as over the longer term, the asset delivers a risk-return located between equities and higher quality fixed income.

Is There a Retirement Crisis? (CFA Institute, 2020)

In this paper from CFA Institute, they investigate some of the studies of retirement income planning which suggest that many US households will face a financial crisis at some point in the future.

Capital Market Line: 5 year return estimates (PineBridge Investments, Jul 2020)

PineBridge Investments presents their 5-year return estimates, noting that the recovery in equity markets has reduced expected returns going forward and that investors seem willing to pay a high-risk premium for growth assets.

The Myth of Value and Growth (Michael Mauboussin, 2020)

Michael Mauboussin re-examines the value vs growth debate, looking particularly at some of the underlying valuation metrics.

The Belt and Road: COVID-19's impact on infrastructure (Refinitiv, Jun 2020)

This comprehensive report from Refinitiv looks at the impact of the COVID-19 pandemic on China's Belt and Road Initiative projects.

The Yale Endowment - 2019 review (Yale University, 2020)

Yale University's 2019 Annual Report draws aside the curtain on its investment performance. The report provides an update on asset allocation targets and outlines expected returns for a range of asset classes.

COVID-19 is Unlikely to Trigger a Financial Crisis (Aviva Investors, Jul 2020)

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

Aviva Investors' duo Oliver Judd and Jaime Ramos Martin outline why they think banks are better placed to recover from the effects of the coronavirus pandemic than they were in the financial crisis.

Top 91 Largest Sovereign Wealth Fund Rankings by Total Assets (SWFI, 2020)

The Sovereign Wealth Funds Institute lists the world largest sovereign wealth funds, ranked by assets under management.

The Big Cycle of the U.S. and the Dollar (Ray Dalio, Jul 2020)

Ray Dalio unleashes another chapter from his forthcoming book. In this chapter, he brings the New World Order up to the present day.

A Risk-based Approach to Harnessing Alternative Sources of Income (Nuveen, 2020)

In their recent report, Nuveen's experts look at a range of different income-producing alternative asset classes, noting the differences between them and suggesting a framework for risk factor-based portfolio construction.

Learning From a Decade of Managed Volatility (PIMCO, 2020)

PIMCO looks at a decade’s worth of data relating to a number of managed volatility strategies and outlines the benefits and disadvantages of each.

Gold: Mid-Year Outlook 2020 (World Gold Council, Jul 2020)

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

World Gold Council expect that the coronavirus crisis is likely to have a lasting effect on asset allocation, regardless of the shape of recovery (V, U or W?). The pandemic will also continue to reinforce the role of gold as a strategic asset in their view.

Asset Allocation and The Inflation-Deflation Debate (AllAboutAlpha, Jun 2020)

Economists remain divided on the prospects for inflation, which has significant implications for asset allocation going forward.