AIQ

From direct investments and engagement with companies to dialogue with governments and regulators, we believe stewardship efforts can deliver better outcomes for clients.

Gregor Bamert, Sima Kotecha and Nick Solomon discuss the recovery in real estate debt markets in 2024 and the opportunities emerging.

This month, we discuss the books that inspired our investment teams over the summer.

In this article, we explore what’s behind emerging markets’ impressive performance in the face of global economic volatility, and investigate how EM debt investors can take advantage.

While there are obstacles to overcome, the coming years could see new opportunities for the UK government and the private sector to work together on infrastructure projects, says Darryl Murphy.

Securitisation performs a vital role in capital markets and asset-backed securities have historically been a core holding for insurance companies. This article revisits the investment thesis for ABS and explores why the stage may be set for something of a renaissance. 

In this summer edition of Bond Voyage, we discuss topical themes in liquidity, emerging-market debt, investment-grade credit and global sovereign bonds.

In our latest real assets deep dive, our research team explains how our data on illiquidity premia indicates the benefits of a multi-asset approach to private debt investing. 

Our real assets research team drills into proprietary data to compare risk and return across sectors.

Emerging markets have remained robust amid the economic and political uncertainties of 2024, but active management will be important if debt investors are to identify standout performers over the coming months.

Credit markets have had a comparatively easy ride so far in 2024, and investment-grade corporate spreads are now at some of their tightest levels for a long time. But investors must guard against complacency.

Our in-depth Roadmap for the UK’s journey towards a low-carbon economy contains policy recommendations to unlock private investment in the transition.

In the third part of our liquidity optimisation series, we look at how bespoke liquidity portfolios that take into account the interplay between different assets can suit the needs of insurers.

With the focus shifting from interest rate cuts to the likelihood of rates staying higher for longer, Steve Ryder and Daniel Bright assess the possible outcomes and implications of higher rates and monetary policy divergence in debt markets.

In a special European Championships edition of Bond Voyage, we discuss topical themes in liquidity, emerging-market debt, investment-grade credit and global sovereign bonds (with a little help from Cristiano Ronaldo and Kylian Mbappé).

The importance of holding liquidity is well understood by large institutions. But how much is enough? In the first part of our new article series on liquidity optimisation, Alastair Sewell investigates the key considerations for different investor types.

This month, we discuss the books that inspired our investment teams over the summer.

In this article, we explore what’s behind emerging markets’ impressive performance in the face of global economic volatility, and investigate how EM debt investors can take advantage.

Securitisation performs a vital role in capital markets and asset-backed securities have historically been a core holding for insurance companies. This article revisits the investment thesis for ABS and explores why the stage may be set for something of a renaissance. 

In this summer edition of Bond Voyage, we discuss topical themes in liquidity, emerging-market debt, investment-grade credit and global sovereign bonds.

Emerging markets have remained robust amid the economic and political uncertainties of 2024, but active management will be important if debt investors are to identify standout performers over the coming months.

Credit markets have had a comparatively easy ride so far in 2024, and investment-grade corporate spreads are now at some of their tightest levels for a long time. But investors must guard against complacency.

In the third part of our liquidity optimisation series, we look at how bespoke liquidity portfolios that take into account the interplay between different assets can suit the needs of insurers.

With the focus shifting from interest rate cuts to the likelihood of rates staying higher for longer, Steve Ryder and Daniel Bright assess the possible outcomes and implications of higher rates and monetary policy divergence in debt markets.

In a special European Championships edition of Bond Voyage, we discuss topical themes in liquidity, emerging-market debt, investment-grade credit and global sovereign bonds (with a little help from Cristiano Ronaldo and Kylian Mbappé).

This month, we discuss fiscal discipline in emerging markets, investment-grade credit portfolio construction, potential opportunities for sovereign investors in Canada and the merits of a developed-market focus in global high yield.

Emerging-market debt analyst Carmen Altenkirch reports back from the recent International Monetary Fund (IMF)/World Bank meetings in Washington.

This month, we discuss Spring meetings, the path for rates and sustainability-linked bonds.

In the April edition of our monthly series, we explore the latest developments in fixed-income markets.

In the latest instalment of our monthly series, our investment-grade, high-yield, emerging-market and global sovereign bond teams explore the key talking points in fixed income.

Investment-grade credit has had an encouraging start to 2024 – but are these really “Goldilocks” conditions for the asset class? In their latest Q&A, James Vokins and Chris Higham from our credit team discuss opportunities and risks in this market.

In the latest instalment of our monthly series, our investment-grade, high-yield, emerging-market and global sovereign bond teams look ahead to the key themes that are likely to shape fixed-income markets in 2024.

Gregor Bamert, Sima Kotecha and Nick Solomon discuss the recovery in real estate debt markets in 2024 and the opportunities emerging.

While there are obstacles to overcome, the coming years could see new opportunities for the UK government and the private sector to work together on infrastructure projects, says Darryl Murphy.

In our latest real assets deep dive, our research team explains how our data on illiquidity premia indicates the benefits of a multi-asset approach to private debt investing. 

Our real assets research team drills into proprietary data to compare risk and return across sectors.

After a challenging 12 months for real estate debt investors, Gregor Bamert discusses what lies ahead for the market in 2024.

In our latest real assets deep dive, our research team crunches the data to see how evolving macro conditions are reflected in private debt returns.

Successful real asset investing requires acceptance of asset managers’ practices and procedures from a variety of stakeholders. We explore what this means for managers, their clients and investment outcomes.

Infrastructure demonstrated characteristic resilience in 2023 in the face of significant macroeconomic headwinds. Darryl Murphy from our infrastructure team explains why he expects current themes to persist in 2024.

In this Q&A, James Tarry and Luke Layfield explore the themes shaping the landscape for real asset investors with a climate transition focus.

Better market mechanisms and grid connection arrangements are essential to restore a stable investment environment in the offshore wind sector, as Nick Molho explains.

Our real assets research team crunch the data to see how evolving macro conditions are reflected in private market returns.

A broad-based recovery in UK and European real estate looks unlikely in 2023, but discerning investors can still find value, say Imogen Ebbs and George Fraser-Harding.

Renos Booth, Isabel Gossling and Kris McPhail from our real estate long income team discuss the importance of selectivity to uncover opportunities and how new buyers can fill the void left by DB pension schemes.

Our real assets research team drill into proprietary data to compare risk and return across sectors, drawing out those showing most relative value.

Private infrastructure debt still offers a broad spectrum of opportunities, but investors face complex challenges. In this Q&A, our infrastructure debt team contemplate the current state of the market and where it goes from here.

Rapid changes in the global economy could tip some sectors into low-carbon phases faster than incumbents expect, with important investment implications.

From direct investments and engagement with companies to dialogue with governments and regulators, we believe stewardship efforts can deliver better outcomes for clients.

Our in-depth Roadmap for the UK’s journey towards a low-carbon economy contains policy recommendations to unlock private investment in the transition.

National transition plans can give investors support, confidence and direction to accelerate the flow of finance to bring about a low-carbon economy. As such, they should be seen as a strategic opportunity.

Sustainable investing, and the supposed trade-offs involved, have been a topic of heated debate. But trade-offs are a fundamental part of all types of investment; the key is to be clear about your objectives, as Mirza Baig explains.

Transition plans, including from governments in response to the Global Stocktake, will be crucial to bring about the shift to a low-emissions, climate-resilient world. Markets need clear implementation signals to align capital with the goals of the Paris Agreement. Our in-depth report calls for the creation of a transition-plan ecosystem connecting all levels of the global economy.

The US and China continue to trade blows as each side looks to limit the other’s access to vital products. With industrial policies also making a comeback, companies are having to navigate a rapidly changing business environment. We look at the key implications for investors.  

Disabled employees continue to face a variety of hurdles to cope with in addition to their day job. We look at how employers can help remove those barriers to allow everyone to thrive.

In the 17th and 18th centuries, academics at the University of Edinburgh helped drive the Industrial Revolution. Today, they are connecting with businesses to tackle the climate emergency. Words by Miles Costello.

Healthcare is a dynamic industry, but patent expiries from 2025 and drug-price reform in the US pose challenges. Innovation will be key for continued success, as experts from our credit, equity and ESG teams explain.

Fiscal intervention is, again, a vital part of the government policy toolkit, supporting plans to boost domestic industries and fight climate change. But while well-intended, such measures will add to already elevated debt levels, with significant implications for investors, as Michael Grady explains.

In a world where potential pitfalls loom around every corner, Peter Fitzgerald and Ian Pizer explain why investors need to look beyond what financial models are telling them to keep portfolios resilient to the challenges ahead.

Cracks have begun to emerge in the banking sector in recent weeks. As the tide of cheap money that has flooded financial markets for more than a decade ebbs, members of our investment teams are on the lookout for other signs of distress.

We take a visual approach to explain what’s happening with banks.

Each experience is unique, but lesbian, gay, bisexual, transgender, non-binary and other non-heteronormative people (LGBTQ+) still face huge challenges, in and out of the workplace. Companies should do more to support them and foster a culture of inclusion.

Many diversity, equity and inclusion initiatives have seen improvements in recent years, but neurodiversity has not progressed at the same pace. Abigail Herron explores what can be applied from other successful DE&I campaigns to put neurodiversity firmly in the spotlight.

Central banks will find it far harder to eradicate inflation than markets anticipate and will be in no hurry to ease off on rate hikes, argues Ian Pizer.

From direct investments and engagement with companies to dialogue with governments and regulators, we believe stewardship efforts can deliver better outcomes for clients.

While there are obstacles to overcome, the coming years could see new opportunities for the UK government and the private sector to work together on infrastructure projects, says Darryl Murphy.

Our in-depth Roadmap for the UK’s journey towards a low-carbon economy contains policy recommendations to unlock private investment in the transition.

National transition plans can give investors support, confidence and direction to accelerate the flow of finance to bring about a low-carbon economy. As such, they should be seen as a strategic opportunity.

Sustainable investing, and the supposed trade-offs involved, have been a topic of heated debate. But trade-offs are a fundamental part of all types of investment; the key is to be clear about your objectives, as Mirza Baig explains.

Pest control has become a growing priority for city residents and authorities all year round, as rising temperatures and other factors boost the populations of many pest species. But in creating adaptation solutions, the sector could also represent a long-term investment opportunity.

Successful real asset investing requires acceptance of asset managers’ practices and procedures from a variety of stakeholders. We explore what this means for managers, their clients and investment outcomes.

Infrastructure demonstrated characteristic resilience in 2023 in the face of significant macroeconomic headwinds. Darryl Murphy from our infrastructure team explains why he expects current themes to persist in 2024.

In this Q&A, James Tarry and Luke Layfield explore the themes shaping the landscape for real asset investors with a climate transition focus.

Better market mechanisms and grid connection arrangements are essential to restore a stable investment environment in the offshore wind sector, as Nick Molho explains.

Transition plans, including from governments in response to the Global Stocktake, will be crucial to bring about the shift to a low-emissions, climate-resilient world. Markets need clear implementation signals to align capital with the goals of the Paris Agreement. Our in-depth report calls for the creation of a transition-plan ecosystem connecting all levels of the global economy.

To have a chance of limiting global warming to less than two degrees, the world must unlock huge investments in emerging markets. This is prompting calls for the reform of multilateral development banks, but will this be enough?

Paying employees a living wage is a growing concern for companies and regulators. As this concept gains traction, it should be viewed as a long-term investment in workers and businesses rather than a cost.

Disabled employees continue to face a variety of hurdles to cope with in addition to their day job. We look at how employers can help remove those barriers to allow everyone to thrive.

Private infrastructure debt still offers a broad spectrum of opportunities, but investors face complex challenges. In this Q&A, our infrastructure debt team contemplate the current state of the market and where it goes from here.

Rapid changes in the global economy could tip some sectors into low-carbon phases faster than incumbents expect, with important investment implications.