Investment research on the markets outlook, covering the global economy and all major asset classes. Most articles in this section naturally cover the short-term (e.g. 3-12 month) outlook for economies and markets. However, the most downloaded research tends to be white papers which are educational, theoretical or long-term - more "evergreen" in nature. For instance BofAML's Transforming World Atlas looks at the global allocation of resources, while a Society of Actuaries paper surveys the literature on the impact of... baby boomer retirements on future equity prices. Also popular are papers which forecast long-term investment returns over a five or ten-year time horizon. Some papers taken an even longer perspective, looking back on hundreds of year of data to draw conclusions, perhaps about commodity supercycles or long-term interest rates. These academic studies on the nature of investment markets are illuminating, and serve to complement the shorter-term perspective addressed in most investment research. In terms of the regular investment reports, the most viewed papers include the JP Morgan Guide to the Markets, the Goldman Sachs Global Equity Outlook and Standard Life's Global Outlook. To filter these papers by market interest (e.g. global economics, strategy, fixed income etc) please make the appropriate selection from the main menu.
As the investment industry undergoes accelerating change, the investment professional of the future must adapt and embrace new challenges and opportunities for career success. This report considers how investment industry roles, skills, and careers (the employee’s lens) and the organizational context and culture (the…
UBS Asset Management’s Investment Solutions team conducts ongoing macroeconomic research to develop our baseline five- and 10-year return expectations. Drawing on the breadth and depth of expertise provided by more than 100 professionals and an over-36-year asset management track record, our capital market expectations…
Adam Berger of Wellington Management asks two pertinent questions: Should investors be patient with value stocks and international equity diversification? Where do China A-shares fit in an emerging markets portfolio? Read his thoughts here.
Among other things, this 32-page issue of Risk & Reward examines how to take a factor-based approach to diversifying oil exposure. Oil investors, fixed income investors and sovereign wealth funds are the main focus of this issue.
For their second Global Fixed Income Study, Invesco interviewed 145 fixed income specialists at pension funds, insurers, sovereign wealth funds, and other investment firms. Representative AUM for the survey respondents amounts to over USD 14 trillion.
Download our Expected Returns 2019-2023 report (116 pages). This publication includes our five-year investment outlook for all major asset classes. In five special features we also look at some of the tough questions professional investors face today.
This report is not available for users from countries where the…
Cheap stocks have been underperforming for the last 18 months, while expensive stocks are overperforming. In fact, current value performance parallels the Tech Bubble and Global Financial Crisis (GFC). This comes as a surprise to many. We have been living through an extraordinary return environment that has, largely, fallen…
As the market debates whether the recent Fed action is a mid-cycle adjustment or an easing cycle, we examine what we believe constitutes a more significant shift from counter-cyclical to pro-cyclical policy. Is the Fed now in the business of predicting the future? What if their policy doesn't work? Or more concerning, what…
This monthly document by Robeco provides insights into the outlook for global equities, bonds, and foreign exchange. The authors also provide a brief regional economic analysis for the United States, Europe, Japan, and China.
Authored by Lior Jassur of MFS Investments, this paper charts the rise of corporate borrowing in the US and Europe against the backdrop of broader trends in credit. It also analyzes some of the key investment considerations: debt service, credit quality and risk compensation.
Low-carbon and factor-based investing are two key trends in the global investment management industry. This paper investigates the impact of low-carbon screening on traditional market-cap-weighted portfolios and factor portfolios (quality, value, momentum, and low volatility) across seven Asian markets: Australia, China,…
Jacek Rostowski, former deputy prime minister and finance minister of Poland, and Arnab Das, of the Invesco Global Thought Leadership team, come together for this insightful series of papers. The second paper in the series has 3 parts, of which this paper is the first. The series itself seeks to address some of the most…
Today, structured finance assets – asset backed securities (“ABS”) – form a European market with over Eur1 000 billion-worth of outstanding assets. Particularly in Europe, the market’s growth since 2009 is not only indicative that investors view structured finance as an attractive investment opportunity, but is also arguably…
Cashflow matching strategies are customised investment solutions, designed to enable clients such as pension schemes or insurance companies to meet their liabilities. LGIM believes that emerging market fixed income has an important role to play in designing cashflow matching solutions.
Among other things, this 32-page issue of Risk & Reward examines how to take a factor-based approach to diversifying oil exposure. Oil investors, fixed income investors and sovereign wealth funds are the main focus of this issue.
Global equity indexes finished last quarter in positive territory despite a steep fall in May. Looking forward, however, the Intech Equity Market Stress MonitorTM suggests caution. Strategies with lower beta exposure offer the potential for higher portfolio efficiency and reduced systematic risk right now. Learn more in our…
The prospect of a downturn almost appears to have been factored in as an inevitability due to the length of the current real estate cycle, and sentiment is under pressure from weaker news on global economic growth. Yet, while real estate pricing looks elevated, it continues to be supported by low interest rates – and there…
This 13-page paper by Nuveen takes the temperature of the global investment environment. Mid-year insights cover global fixed income, global equities, real assets, responsible investing, and more.
The age structure of global populations is shifting in an unprecedented way, toward a smaller young-age cohort and a larger old-age cohort. What affect will this have on economic growth, and what are the implications for investors? This paper by Vanguard finds that these demographic trends will have an overall muted effect…
Gold is rare; as with other precious metals, a lot of ore is mined and processed to produce small amounts of pure metal. Consequently, gold production uses a lot of energy. On a per volume basis, therefore, it has a relatively high GHG intensity. However, our findings indicate that total GHG emissions from newly-mined gold…
