AIQ Editorial Team

Every January, we send a letter to the chairs of companies we invest in (and some we don’t, but still want to influence) to set out our stewardship priorities for the year. Here, in full, is our 2023 letter.

Despite ongoing market volatility and geopolitical uncertainty, 2023 could bring attractive opportunities for fixed-income investors, says Barney Goodchild.

Brexit and the post-COVID shift in working patterns have changed the landscape of London real estate. But the city remains well-positioned as a key hub in the global knowledge economy, as Jonathan Bayfield, James Stevens and Ed Atterwill explain.

James Vokins and Chris Higham from our credit team believe the path of inflation will remain the central question for investors in 2023. Fixed-income investors should remain cautious until that path is more certain, but fundamental analysis can still uncover attractive opportunities.

Benign macroeconomic conditions have boosted infrastructure investments over the past decade. But with higher interest rates, investors in the asset class will have to show they can create true value, says Darryl Murphy.

Our liquidity team give their take on what the challenging market environment means for positioning in 2023.

Botched leadership handovers can severely impair company performance. To satisfy investors, boards need to take succession planning more seriously, argue Trevor Green and Louise Piffaut.

Infrastructure demonstrated characteristic resilience in 2022 in the face of significant headwinds. Sinéad Walshe and Florent del Picchia from our infrastructure debt team expect more of the same this year.

Despite the ongoing turbulence in commercial real estate, Daniel McHugh discusses why market repricing represents an opportunity for long-term investors.

After a bruising 12 months, our emerging-market debt team anticipates an improvement in the asset class’ fortunes in 2023 as declining inflation allows central banks to ease back on monetary tightening. But with many issuers still at risk of default, investors will need to tread cautiously.

The managers of the AIMS Target Return strategy explain why investors should be prepared for more turbulence in 2023.

Batteries are set to play a crucial role in helping to decarbonise the global transport and energy sectors. As capital floods into an industry experiencing exponential growth, we look at the key considerations for investors.

Macroeconomic forces have been key drivers of performance in the global high-yield market in recent months, but 2023 is likely to bring a renewed focus on issuer fundamentals, say Sunita Kara and Brent Finck.

Chris Murphy and James Balfour, co-fund managers of our UK equity income strategy, reflect on the big shifts in 2022 and what they could mean for the asset class in 2023.

Sunil Krishnan looks back at 2022, and outlines what multi-asset investors should look out for in 2023.

In this month’s instalment of our visual series on topical themes, we look at climate in the aftermath of November’s COP27 event in Egypt.