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Posts Tagged ‘Investment’


Emerging Markets: Finding value through specialists and dynamic management

Are you giving emerging markets the attention they deserve? We believe emerging markets deserve at least as much time and effort as developed market allocations. The longer-term growth projection (in GDP, population and consumption) shows that by 2025, emerging markets may represent over 45% of global consumption.1 Many multi-asset portfolios could benefit from this kind

May 4, 2017 Categories: Market Updates, Markets
Brexit

The Fed throwing caution to the wind? Not so fast.

The U.S. Federal Reserve (the Fed) hiked interest rates again today, raising the target range by a quarter point to 0.75-1.0%. We and, it seems, markets were fully expecting this move, particularly after Fed leaders provided very strong guidance last week that a March hike was in the pipeline.  The bigger issue for investors now

Mar 15, 2017 Categories: Investment, Markets

Bulk Annuities – 2017 NOT the year of the buy-out?

A couple of articles on the bulk annuity market caught my eye this week and reminded me of a great blog post authored by my Seattle based colleague, Bob Collie back in October, “What about the 98% of plans NOT doing annuity buyouts?”. Wednesday’s Financial Times contained an article* predicting a big recovery in the

Jan 6, 2017 Categories: Investment, Markets

Multi-asset investing: Wizard of Odds

In probability theory the Kelly criterion is a way to decide the optimal size of a series of bets. It was discovered by a physicist named Kelly who figured out the idea when he was working in telecommunications research at Bell Labs in the 1950s. Kelly figured out the formula which showed the optimal amount

Emerging Markets Equities – Emerging Investment Performance

Emerging Markets (EM) are a hot topic for investors. In the first of three blogs, Senior Investment Strategist Graham Harman reviews the case for long term value in EM equities. His next blogs will examine where the risks are for this asset class and discuss whether now is the right time to buy. Emerging markets

Sep 14, 2016 Categories: Investment, Investment Strategy, Markets

How Good Governance makes you an investment guru

This is a blog by a guest author which was first published on Mallowstreet, a specialist site for pension professionals, on 7th October 2015 following the Russell Mallowstreet University dinner on Governance. “How Good Governance makes you an investment guru….. or how bad Governance will only ever let you get it right by sheer fluke.

Oct 30, 2015 Categories: Governance & Regulation

To Hedge or Not to Hedge – Blog 4

Liability hedging has always been a difficult investment decision for pension trustees to make. This is the final blog in a series that explains the hedging question as ‘right sizing your risk’. In this final blog around liability hedging we will look at carry and the cost of waiting to hedge. Carry and the cost

To Hedge or Not to Hedge – Blog 3

This blog is one of a series that explores some of the features and drivers of the term structure of interest rates and how they can influence the hedging question. In my last blog we saw that hedging strategies will only underperform if interest rates increase by more than what is currently priced into the

To Hedge or Not to Hedge – Blog 2

Liability hedging has always been the hardest investment decision for pension trustees to make, but right now, with interest rates so low, it seems that all the risks are one-sided. Faced with a low interest rate environment many pension trustees are considering a delay to planned liability hedging. In my first blog we looked at

To Hedge or Not to Hedge

Discussions around liability hedging have never been so topical. Notwithstanding the selloff in real and nominal interest rates seen since January of this year, rates are still at very low levels and many question whether now is the right time to hedge. Apart from the economics there are also behavioural aspects in play, most notably

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