Multi-asset investing at Aviva Investors

A strong economic recovery and continued reflationary bias from the Federal Reserve could push long-dated yields higher on US Treasuries, says Sunil Krishnan.

Individual investors have long been derided for buying and selling investments at the worst possible moment. But recent events suggest this characterisation is outdated.

The global economy looks to be recovering from the COVID-19 outbreak faster than once seemed likely. However, a big divergence in prospects is emerging between richer and poorer nations.

While much of the developed world appears to be on the road to recovery, aided by the rapid roll-out of vaccines, the outlook for many poorer countries is far less favourable, says Ian Pizer.

Although economic growth, operating leverage and valuations support equities, it is too early to tell whether value stocks are finally set to make a comeback, says Sunil Krishnan.

Beauty is only skin deep, as the saying goes. Francois de Bruin explains what this piece of wisdom means for yield-hungry income investors.

Recent events have shown the increasing influence of retail investors, although long-term financial success will continue to depend on making the right fundamental calls, argues Peter Fitzgerald.

While inflation is expected to rise after last year’s lows, it will likely be transitory. Sunil Krishnan explores what this means for the economy, yield curves and equity markets.

As deficits skyrocket, bond investors have an opportunity to engage with governments to try to ensure they tackle climate change, argues Thomas Dillon.

The coronavirus epidemic has further accelerated the rise of ESG into the investment mainstream. As deficits skyrocket, bond investors have an opportunity to engage with governments on climate change, argues Thomas Dillon.

Massive intervention by central banks and governments in recent years has left investors struggling to value financial assets.

China’s economic rise threatens US supremacy and the global economic and financial order built up since 1945.

The inexorable rise in asset prices caused by the seemingly never-ending era of monetary easing is calling into question long-held investment beliefs, as members of our multi-asset & macro and equities teams explain.

Big challenges bring us the opportunity to think differently. Our investment teams reveal what they have learnt from COVID-19, and how they are preparing to face whatever ‘normal’ emerges in a post-pandemic world.

The early part of a year gives investors an opportunity to take stock. Sunil Krishnan reflects on how the current environment is shaping our views for multi-asset portfolios.

As part of our engagement efforts, every January we send a letter to the chairs of companies we invest in (and some we don’t, but still want to use our influence with) to set out our stewardship priorities for the year. Here, in full, is our 2021 letter.