Stranded!

When assets become liabilities

Equities

Re-enter the dragon: What China’s recovery from COVID-19 means for emerging markets

7 Apr 2020

We explore the impact of COVID-19 on China and emerging market debt and equities.

Covid-19

COVID-19: This time is different?

3 Apr 2020

Previous financial crises offer lessons for investors trying to make sense of COVID-19, explains Euan Munro.

Multi-asset & multi-strategy

COVID-19 and a brief history of emerging market debt drawdowns

2 Apr 2020

COVID-19 is testing investors’ patience. A brief history of EMD drawdowns suggests why they should do nothing.

Covid-19

COVID-19: When it comes to pandemics, investors should listen to the real experts

1 Apr 2020

Investors should scour the medical literature for insight into COVID-19’s progression before making big investment calls.

Multi-asset & multi-strategy

Multi-asset allocation views: Embedding diversification in portfolios

31 Mar 2020

The market response to COVID-19 has been brutal. Sunil Krishnan reflects on portfolio diversification in this context.

Covid-19

The impact of COVID-19 on private debt

30 Mar 2020

Anxiety in public markets over the coronavirus will also test the resilience of private debt.

Covid-19

COVID-19: The impact on European real estate

30 Mar 2020

As COVID-19 and government response evolve, Chris Urwin analyses how it could affect European real estate.

Covid-19

Black swan or grey rhino: Should investors have seen COVID-19 coming?

27 Mar 2020

We explore whether investors could have anticipated COVID-19 and how they can ensure their portfolios are resilient.

Covid-19

Treasuries: Defence in troubled times

26 Mar 2020

Why have investors been abandoning safe-haven assets in the midst of the steepest market falls in 40 years?

Covid-19

The impact of COVID-19 on UK infrastructure

26 Mar 2020

COVID-19 is having a marked effect on asset prices and transaction activity in all areas of financial markets.

Covid-19

The implications of COVID-19 for real assets

19 Mar 2020

The human cost of COVID-19 is likely to rise significantly, along with its impact on economies and financial markets as nations enact measures to contain its spread. We summarise recent developments and what they might mean for European real assets markets.

Insurance

RPI may be flawed, but changes shouldn’t cost pensioners and investors

16 Mar 2020

With the start of the consultation for proposed changes to the measurement of inflation in the UK, we look at the likely impact to asset classes, the assets most affected, and the key issues investors should be aware of.

Responsible Investing

The AIQ Podcast: The psychology of climate change

4 Mar 2020

The latest episode of The AIQ Podcast explores the psychology of climate change and how to engage individuals in the quest for solutions.

Responsible Investing

Climate change: The journey from denial to crisis

28 Feb 2020

More than 40 years since a senior NASA scientist told US Congress of concerns about human activities disrupting the climate, experts are warning of an impending climate catastrophe and the financial sector is wrestling with the implications.

Responsible Investing

Why asset managers cannot be passive on climate change

28 Feb 2020

As active investors step up their engagement efforts on the climate crisis, discussions need to be at the CEO rather than board level, argues David Cumming.

Responsible Investing

Apathy, anger, action: The psychology of climate change

28 Feb 2020

Psychological barriers can prevent people from acting to avert the climate threat, even when they recognise the problem. So how can we best engage individuals, companies and communities in the quest for solutions?

The AIQ Podcast: The psychology of climate change

4 Mar 2020

The latest episode of The AIQ Podcast explores the psychology of climate change and how to engage individuals in the quest for solutions.

Climate change: The journey from denial to crisis

28 Feb 2020

Why asset managers cannot be passive on climate change

28 Feb 2020

As active investors step up their engagement efforts on the climate crisis, discussions need to be at the CEO rather than board level, argues David Cumming.

Apathy, anger, action: The psychology of climate change

28 Feb 2020

Stranded! When assets become liabilities

28 Feb 2020

Until recently, many investors made light of dire warnings of the risks posed by assets becoming “stranded” by climate change. However, as the threat becomes reality, fears are mounting that whole industries could be wiped out.

‘Sticking’ it to carbon: The pros and cons of taxing emissions

28 Feb 2020

With governments urged to do more to tackle climate change, carbon taxes are being touted as a politically expedient solution.

Slash and burn: The link between land use and climate change

28 Feb 2020

Poor land management contributes to rising global temperatures. But solutions are emerging as new technologies improve farming efficiency and consumers shift towards climate-friendly diets.

Hot water: The threat of warming oceans

28 Feb 2020

As the challenges posed by climate change continue to loom large, due attention should be given to oceans, not just the solid ground under our feet and the air we breathe.

An inconvenient transition

28 Feb 2020

Despite deafening calls for countries and companies to step up to fight the climate crisis, research suggests individuals – especially in the developed world – could also make a massive difference if they committed to getting by with less. But will they?

Climate data: Seeing through the fog

28 Feb 2020

Big data is heralded as the answer to almost every problem, so why not the climate crisis?

Nuclear: From pariah to saviour?

28 Feb 2020

As the old saying goes, desperate times call for desperate measures. Despite lingering public anxiety around safety, there are growing calls for the world to look again at nuclear power as part of the solution to the climate crisis.

Biological annihilation: The facts behind the threats to biodiversity and ecosystems

28 Feb 2020

Over 100 billion people have walked the planet, making a gigantic stamp on the Earth. Around three quarters of the land and around two-thirds of the marine environment have been significantly altered by humans, impacting the carbon cycle and changing the prospects for many species.

Dancing to a different tune

6 Jan 2020

Discover how a small Swedish football team used brave, unconventional methods to triumph over their competition. Östersunds FK was languishing near the bottom of the Swedish league system – until the launch of an unorthodox “culture academy” inspired the team to extraordinary success. What can we learn from this remarkable story?

The AIQ Podcast: Link - The power of connected thinking

5 Dec 2019

The latest episode of The AIQ Podcast explores the role of connected thinking in technology, business and the environment.

A question of trust: What’s behind blockchain technology

15 Nov 2019

A lot has been said about how blockchain may spark a technological revolution across every corner of the economy – not only in finance, but also areas such as medicine, marketing and supply chain management. What is less clear is how it could pose a hefty social challenge as well.

Supply chain wars

14 Nov 2019

With the US and China locking horns, we take a deeper look at the tangled and complex web of multinational relationships in the global economic ecosystem.

View all AIQ features

Equities

Re-enter the dragon: What China’s recovery from COVID-19 means for emerging markets

7 Apr 2020

We explore the impact of COVID-19 on China and emerging market debt and equities.

Are investors too complacent about the coronavirus?

21 Feb 2020

In the latest of our editorial series, Link, AIQ brings members of Aviva Investors’ investment strategy, equity and debt teams together to discuss the prospects for financial markets and the world economy in the face of the coronavirus epidemic.

Cwtch: Has capitalism gone cuddly?

18 Feb 2020

In the first of a new editorial series, Link, AIQ brings together people from across Aviva Investors to debate topical themes. Mirza Baig and Stephanie Niven consider whether CEO claims about running businesses for multiple stakeholders rather than shareholders alone is a grand idea or just plain grandstanding.

Dealing with climate change: A mixture of mitigation and adaptation

4 Dec 2019

The asset management industry has a key role to play in the face of the climate emergency facing humanity. We spoke to Emma Haziza, hydrologist, PhD Mines ParisTech, Founder and President of Mayane, and Rick Stathers, Climate Specialist at Aviva Investors to find out how asset managers can support companies in their climate transition efforts.

In a complex market, investors need to connect information signals more effectively

19 Nov 2019

A growing body of research suggests equity investors are poor at recognising the connections and interrelationships between companies. A fresh approach is needed, argues Mikhail Zverev, head of global equities at Aviva Investors.

5G: Anatomy of an equity investment idea

11 Nov 2019

The evolution of wireless technology has fuelled a host of new mobile applications and helped propel companies such as Netflix. 5G, its next iteration, promises speeds up to 20 times faster than the current 4G. But to think only in terms of speed severely underestimates 5G’s potential to fundamentally transform the business landscape – though not without tremendous risk.

Back to the future: Dr Eric Topol on AI in healthcare

3 Oct 2019

In the final article in our series on healthcare, we speak to the renowned cardiologist and author Eric Topol about his new book, Deep Medicine.

Substance over style?

30 Sep 2019

Why an agnostic approach beats equity style biases.

Big Tech bets on healthcare

25 Sep 2019

In the third of a four-part series on healthcare, we focus on technology. New tech innovations promise to deliver better treatments and cost efficiencies – but concerns over data protection and flawed AI persist.

Biotech disrupters shake up the drug discovery business

18 Sep 2019

In the second of a four-part series on healthcare, we look at how competition between Big Pharma, Chinese biotech and Silicon Valley is transforming the landscape of drug discovery.

Investors must hold bad bosses to account

16 Sep 2019

Institutional shareholders need to be as agile and active as private equity in dealing with failures of leadership.

Medicine, politics and investing: Tensions abound

12 Sep 2019

In the first of a four-part series on global healthcare, we look at why the sector is likely to take centre stage in the 2020 US elections and what this means for investors.

As China soars, emerging market investors need a rethink

21 Aug 2019

With China set to dominate EM equity indices over the coming decades, investors need to adjust their approach to the asset class, argues Alistair Way.

BP vote demonstrates power of engagement

28 Jun 2019

As climate change rises up the political agenda throughout the West and beyond, shareholders have an important role to play in limiting global fossil fuel consumption by pressuring oil companies to amend their strategies, argues Sora Utzinger.

'Fairtrade for finance' should be a badge of honour - not a rubber stamp

21 Jun 2019

A Fairtrade-style kitemark for responsible investment is in the pipeline. Properly implemented, the initiative should improve industry standards on ESG, writes Steve Waygood.

Talking with David Cumming

6 Jun 2019

Talking equities, markets and playing the piano with David Cumming, Chief Investment Officer, Aviva Investors and Richard Romer-Lee, Square Mile.

View all equities

Fixed income

Re-enter the dragon: What China’s recovery from COVID-19 means for emerging markets

7 Apr 2020

We explore the impact of COVID-19 on China and emerging market debt and equities.

COVID-19 and a brief history of emerging market debt drawdowns

2 Apr 2020

COVID-19 is testing investors’ patience. A brief history of EMD drawdowns suggests why they should do nothing.

The impact of COVID-19 on private debt

30 Mar 2020

Anxiety in public markets over the coronavirus will also test the resilience of private debt.

Are investors too complacent about the coronavirus?

21 Feb 2020

Broadening global investment-grade horizons

20 Feb 2020

UK investors considering whether to allocate to global investment-grade credit may discover the broader diversification benefits can significantly improve a portfolio’s overall risk dynamics.

Multi-asset allocation views: The pros and cons of higher-yielding fixed income

16 Jan 2020

Sunil Krishnan asks whether higher-yielding fixed income assets remain good diversifiers for multi-asset portfolios in the current environment.

Reform: A route to resilience in emerging markets?

13 Jan 2020

Following a series of IMF meetings in Washington, D.C., Carmen Altenkirch and Dariusz Kedziora discuss their views on how reform prospects may shape emerging market debt.

Climate risk for insurers

12 Dec 2019

Climate risk has become a critical business issue, but a recent consultation by the European Insurance and Occupational Pensions Authority highlights confusion on how to assess it.

Global high yield in a sub-zero world

24 Sep 2019

In the strongest signal yet that central bank policies are upending the investment playbook, sub-zero conditions are extending to the high yield market for the first time. Sunita Kara, looks at the implications for investors.

Three steps to improve the green bond market

11 Sep 2019

Green bonds can be a powerful tool for attracting investment in environmental projects, but reforms are needed to promote further growth of the market, argues Colin Purdie.

Lagarde as ECB chief – independent but integrated?

22 Aug 2019

Christine Lagarde has been nominated to head the European Central Bank at a difficult time for monetary policy given growing fears of a recession in the euro zone. Despite much debate on her credentials, Stewart Robertson argues she is the right candidate for the job.

As China soars, emerging market investors need a rethink

21 Aug 2019

With China set to dominate EM equity indices over the coming decades, investors need to adjust their approach to the asset class, argues Alistair Way.

Italy’s threat to the euro has not gone away

30 Jul 2019

The Italian government remains on a collision course with Brussels despite recently striking a deal over its 2019 budget. A mis-step by either side could lead to a fresh euro zone crisis that the new head of the ECB might struggle to contain.

Sovereign interests: ESG matters in emerging market debt

31 May 2019

The emerging market debt universe offers investors an expanding pool of opportunities that may be better assessed when integrating environmental, social and governance factors.

Degrees of separation: Re-examining the relationship between EMD and the dollar

7 May 2019

Old assumptions on the traditional link between emerging market debt and the greenback are being challenged, writes Liam Spillane.

The EM framing fallacy: Emerging market debt and the trials of a misunderstood asset class

7 May 2019

How we frame things deeply affects how we process information and subsequently act on it. So much so that, despite convincing evidence to the contrary, it can be extremely hard to shake off a fabled preconception. It seems that once a label sticks it can be very hard to dislodge.

View all fixed income

Multi-asset & multi-strategy

COVID-19: This time is different?

3 Apr 2020

Previous financial crises offer lessons for investors trying to make sense of COVID-19, explains Euan Munro.

COVID-19 and a brief history of emerging market debt drawdowns

2 Apr 2020

COVID-19 is testing investors’ patience. A brief history of EMD drawdowns suggests why they should do nothing.

COVID-19: When it comes to pandemics, investors should listen to the real experts

1 Apr 2020

Investors should scour the medical literature for insight into COVID-19’s progression before making big investment calls.

Multi-asset allocation views: Embedding diversification in portfolios

31 Mar 2020

The market response to COVID-19 has been brutal. Sunil Krishnan reflects on portfolio diversification in this context.

Treasuries: Defence in troubled times

26 Mar 2020

Why have investors been abandoning safe-haven assets in the midst of the steepest market falls in 40 years?

RPI may be flawed, but changes shouldn’t cost pensioners and investors

16 Mar 2020

Are investors too complacent about the coronavirus?

21 Feb 2020

Multi-asset allocation views: Uncertainty clouds the outlook for European assets

23 Jan 2020

Sunil Krishnan considers whether Europe can break out of its economic malaise and the factors investors should watch out for in 2020.

Multi-asset allocation views: The pros and cons of higher-yielding fixed income

16 Jan 2020

Sunil Krishnan asks whether higher-yielding fixed income assets remain good diversifiers for multi-asset portfolios in the current environment.

Multi-asset allocation views: Could Japan outperform other equity markets?

14 Jan 2020

Sunil Krishnan argues that low expectations among domestic and global investors are reflected in Japanese equity valuations, creating an opportunity for the asset class to play catch-up with the rest of the world.

Supply chain wars

14 Nov 2019

With the US and China locking horns, we take a deeper look at the tangled and complex web of multinational relationships in the global economic ecosystem.

In search of a free lunch

5 Nov 2019

Correlations between groups of assets and within individual asset classes have changed in unexpected ways thanks to a decade of easy monetary policy. Our portfolio managers tell us what impact this has had on the way they manage money.

Mind over matter: How we react to an inverted yield curve is more important than the inversion itself

30 Sep 2019

Determining whether an inverted yield curve signals a US or global recession continues to focus the minds of investors in 2019. Mark Robertson explains why our actions will matter more in determining whether a recession is on the horizon than what can be a misleading indicator.

Lagarde as ECB chief – independent but integrated?

22 Aug 2019

Trade tensions drive seismic shift in monetary policy outlook

9 Aug 2019

The last year has seen a dramatic shift in the outlook for global monetary policy. Although yields have already fallen sharply, US bonds still appear to offer value given the darkening economic storm clouds, argues Peter Fitzgerald.

Self-sufficiency for pension schemes: Keep on running?

28 May 2019

Boris Mikhailov and Matthew Graham look at the benefits and risks for pension schemes targeting self-sufficiency.

View all multi-asset & multi-strategy

Real assets

The impact of COVID-19 on private debt

30 Mar 2020

Anxiety in public markets over the coronavirus will also test the resilience of private debt.

COVID-19: The impact on European real estate

30 Mar 2020

As COVID-19 and government response evolve, Chris Urwin analyses how it could affect European real estate.

The impact of COVID-19 on UK infrastructure

26 Mar 2020

COVID-19 is having a marked effect on asset prices and transaction activity in all areas of financial markets.

The implications of COVID-19 for real assets

19 Mar 2020

Intangible infrastructure: Storing and transmitting data

4 Feb 2020

The emergence of data infrastructure was a defining theme in the last decade. As the sector matures, Laurence Monnier explains why further expansion, consolidation and the development of a secondary market are likely.

Three trends to watch in UK long-income real estate

28 Jan 2020

In an era of low interest rates and rising maintenance costs, the benefits of long-income assets within UK real-estate portfolios are hard to ignore. Tim Perry looks at three key trends that are influencing the UK long-income market.

Low rates, northern lights and net zero: UK infrastructure in 2020

21 Jan 2020

In the second of a two-part series, Darryl Murphy assesses the current state of the UK infrastructure market and the likely drivers of transaction activity in 2020.

Recovery, disintermediation and politics: A decade in UK infrastructure

15 Jan 2020

In the first of a two-part series on UK infrastructure, Darryl Murphy looks back on a turbulent decade that saw bank lenders retreat only to re-emerge and a new broom of investors enter the market, as well as the demise of the PFI/PPP model.

Urban regeneration: How a secure income strategy can help revive city centres

6 Jan 2020

Like other major cities, London scores highly across a range of economic metrics. But while London’s continued capacity for renewal and attracting investment is undeniably impressive, it is often in stark contrast to other UK cities. Chris Urwin, Luke Layfield and Stanley Kwong explain what can be done to make those cities more attractive, and the respective roles investors and the public sector should play in that process.

Real estate outlook 2020: Continental Europe

20 Dec 2019

As 2019 comes to a close Vivienne Bolla and Souad Cherfouh look ahead to the key themes that will shape the European real estate markets in 2020 and beyond.

Real estate outlook 2020: UK

19 Dec 2019

As 2019 comes to a close Jonathan Bayfield looks ahead to the key themes that will shape the UK real estate market in 2020 and beyond.

Space as a service: The rise of flexible working

20 Nov 2019

The rise of flexible working is a trend that has caught the headlines. We explain why the trend is here to stay, what it means for companies and how investors can adapt to the changing nature of the workplace.

Are ESG comparisons fair?

13 Nov 2019

Investors need to look past tick-box credentials to consider the real ESG impact of their infrastructure projects, says Ian Berry, head of infrastructure equity at Aviva Investors.

Connections and communities

28 Oct 2019

Today, a handful of urban centres are pulling away from their rivals – creating more innovation, more growth and more jobs. Those changes have deep implications; understanding them and what they mean for local communities takes joined-up thinking.

Quarterly update on drivers in real assets - Q3 2019

17 Oct 2019

In our regular update on drivers in real assets, we assess the impacts of a possible downturn in the euro zone. We touch on cash generation, the valuation outlook and the significance of security and ranking in the capital structure.

London: The ultimate city of the future

2 Oct 2019

The rise of the knowledge economy has energised cities which have reinvented themselves as global knowledge capitals, of which London is a prime example.

View all real assets

Responsible investment

The AIQ Podcast: The psychology of climate change

4 Mar 2020

The latest episode of The AIQ Podcast explores the psychology of climate change and how to engage individuals in the quest for solutions.

Climate change: The journey from denial to crisis

28 Feb 2020

Why asset managers cannot be passive on climate change

28 Feb 2020

As active investors step up their engagement efforts on the climate crisis, discussions need to be at the CEO rather than board level, argues David Cumming.

Apathy, anger, action: The psychology of climate change

28 Feb 2020

Stranded! When assets become liabilities

28 Feb 2020

‘Sticking’ it to carbon: The pros and cons of taxing emissions

28 Feb 2020

With governments urged to do more to tackle climate change, carbon taxes are being touted as a politically expedient solution.

Slash and burn: The link between land use and climate change

28 Feb 2020

Poor land management contributes to rising global temperatures. But solutions are emerging as new technologies improve farming efficiency and consumers shift towards climate-friendly diets.

Hot water: The threat of warming oceans

28 Feb 2020

As the challenges posed by climate change continue to loom large, due attention should be given to oceans, not just the solid ground under our feet and the air we breathe.

An inconvenient transition

28 Feb 2020

Climate data: Seeing through the fog

28 Feb 2020

Big data is heralded as the answer to almost every problem, so why not the climate crisis?

Nuclear: From pariah to saviour?

28 Feb 2020

How capitalism can help solve the climate crisis

28 Feb 2020

Despite the increasing clamour for a global ‘Green New Deal’, Steve Waygood explains why a complementary International Panel on Climate Finance (IPCF) is also needed if we are to rise to the challenges ahead.

Biological annihilation: The facts behind the threats to biodiversity and ecosystems

28 Feb 2020

Cwtch: Has capitalism gone cuddly?

18 Feb 2020

The Insurer: Maurice Tulloch on climate risk, insurance and closing the protection gap

11 Feb 2020

The Aviva CEO talks to AIQ about how the insurance industry is working to assess and manage the catastrophic risks of climate change.

The Policymaker: The US response, green technology and climate regulation

10 Feb 2020

Ken Alex, former adviser to Californian governor Jerry Brown, discusses US policy, carbon capture and storage and the need for regulation to combat the effects of climate change.

View all responsible investment thinking

Economic research

COVID-19: This time is different?

3 Apr 2020

Previous financial crises offer lessons for investors trying to make sense of COVID-19, explains Euan Munro.

Black swan or grey rhino: Should investors have seen COVID-19 coming?

27 Mar 2020

We explore whether investors could have anticipated COVID-19 and how they can ensure their portfolios are resilient.

The implications of COVID-19 for real assets

19 Mar 2020

RPI may be flawed, but changes shouldn’t cost pensioners and investors

16 Mar 2020

The AIQ Podcast: The psychology of climate change

4 Mar 2020

The latest episode of The AIQ Podcast explores the psychology of climate change and how to engage individuals in the quest for solutions.

Climate change: The journey from denial to crisis

28 Feb 2020

Why asset managers cannot be passive on climate change

28 Feb 2020

As active investors step up their engagement efforts on the climate crisis, discussions need to be at the CEO rather than board level, argues David Cumming.

Apathy, anger, action: The psychology of climate change

28 Feb 2020

Stranded! When assets become liabilities

28 Feb 2020

‘Sticking’ it to carbon: The pros and cons of taxing emissions

28 Feb 2020

With governments urged to do more to tackle climate change, carbon taxes are being touted as a politically expedient solution.

Slash and burn: The link between land use and climate change

28 Feb 2020

Poor land management contributes to rising global temperatures. But solutions are emerging as new technologies improve farming efficiency and consumers shift towards climate-friendly diets.

Hot water: The threat of warming oceans

28 Feb 2020

As the challenges posed by climate change continue to loom large, due attention should be given to oceans, not just the solid ground under our feet and the air we breathe.

An inconvenient transition

28 Feb 2020

Climate data: Seeing through the fog

28 Feb 2020

Big data is heralded as the answer to almost every problem, so why not the climate crisis?

Nuclear: From pariah to saviour?

28 Feb 2020

How capitalism can help solve the climate crisis

28 Feb 2020

View all economic research

AIQ Client Matters

Analysis and commentary specific to you and your industry.

House View

A quarterly publication which encapsulates the thinking of our investment team.

Stranded!

Recent thinking

AIQ Features

Equities

Fixed income

Multi-asset & multi-strategy

Real assets

Responsible investment

Economic research

AIQ Client Matters

House View

Stranded!

Recent thinking

AIQ Features

Equities

Fixed income

Multi-asset & multi-strategy

Real assets

Responsible investment

Economic research

AIQ Client Matters

House View

Institutional investor

Intermediary

Private investor

Commercial borrower