Recent thinking

Real Assets
Hydrogen: Back to the future
18 Dec 2020
The UK is the latest country to accelerate plans to develop hydrogen as part of its push to reach net zero. But it is not the first time hydrogen has attracted attention – it has been trumpeted by the scientific community as a possible wonder fuel for around a century. So, what’s changed now?
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Equities
Issuance, support from equities and volatility: The outlook for convertible bonds in 2021
18 Dec 2020
Shawn Mato, convertible bond fund manager, picks three themes that could have a big say in how the asset class performs in 2021.
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Multi-asset & multi-strategy
Vaccine hope, Biden and central bank policy: The outlook for multi-asset in 2021
17 Dec 2020
Sunil Krishnan highlights some of the themes that will shape multi-asset investing in 2021.
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Multi-asset & multi-strategy
Liquidity, uneven recoveries and debt sustainability: The outlook for emerging-market debt in 2021
17 Dec 2020
Liam Spillane, head of emerging market debt at Aviva Investors, picks three themes that could have a big say in how the asset class performs in 2021.
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Fixed income
Zombie revival, improving fundamentals and monetary policy: The outlook for high yield in 2021
17 Dec 2020
Kevin Mathews, Brent Finck and Sunita Kara, high yield portfolio managers at Aviva Investors, pick out three themes that will shape the asset class in 2021.
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Fixed income
Stimulus, M&A and US politics: The outlook for investment grade credit in 2021
17 Dec 2020
Mike Cho and Jonathan Manning, investment-grade portfolio managers at Aviva Investors, look at the themes that will shape the asset class in 2021.
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Real Assets
COVID recovery, net zero and policy: The outlook for UK infrastructure in 2021
16 Dec 2020
Darryl Murphy assesses the current state of the UK infrastructure market and the likely drivers of activity in 2021.
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Real Assets
Relative value, ‘normality’ and polarisation: The outlook for real estate in 2021
16 Dec 2020
Souad Cherfouh, head of real estate investment strategy, and Jonathan Bayfield, head of UK and Irish real estate research, look at three themes that could characterise the real estate market in 2021 and beyond.
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Real Assets
COVID, remote working and building back better: The stories that defined real assets in 2020
16 Dec 2020
We select some of our key pieces of content on real asset markets in a dramatic year.
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Responsible Investing
Laggards, electric vehicles and energy storage: The outlook for the climate transition in 2021
15 Dec 2020
Jaime Ramos Martin, portfolio manager of Aviva Investors’ climate transition strategy, and Rick Stathers, Aviva Investors’ climate lead, look at three themes that will shape the outlook in 2021.
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Equities
Recovery, divergence and externalities: The outlook for global equities in 2021
15 Dec 2020
Giles Parkinson, global equities portfolio manager at Aviva Investors, looks at three themes that will shape the asset class in 2021.
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Responsible Investing
How the US can lead on climate finance: A five-point plan for President Biden’s first year
14 Dec 2020
The US went backwards on tackling climate change under President Trump. His successor Joe Biden must act quickly to make up for lost time, says Steve Waygood.
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Equities
Reversal of fortunes, Brexit and dividends: The outlook for UK equities in 2021
11 Dec 2020
Trevor Green, UK equity portfolio manager at Aviva Investors, picks three themes that could have a big say in how the asset class performs in 2021.
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Equities
Selectivity, sanctions and decarbonisation: The outlook for emerging market equities in 2021
11 Dec 2020
Alistair Way, head of emerging market equities at Aviva Investors, looks at three themes that will shape the asset class in 2021.
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Real Assets
COVID, climate and Black Lives Matter: The stories that defined 2020
10 Dec 2020
We select some of our key pieces of content in a year of unending drama.
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Fixed income
Chemical compounds: The good, the bad and the ugly
9 Dec 2020
After decades of secrecy, light is increasingly being shone on the potentially hazardous compounds produced by chemical companies. In the latest instalment of our editorial series, Link, experts from Aviva Investors’ credit, equities and ESG teams discuss the prevalence of chemicals in modern life, and how to balance usefulness and safety.
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AIQ Features

The AIQ Podcast: Link - The power of connected thinking
5 Dec 2019
This latest episode of the AIQ Podcast explores the role of connected thinking in technology, business and the environment.
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The AIQ Podcast: Link - The power of connected thinking
5 Dec 2019
This latest episode of the AIQ Podcast explores the role of connected thinking in technology, business and the environment.
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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.
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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.
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The AIQ Podcast: Future of retirement
12 Nov 2019
The idea that in one’s sixties it might be time to step out of work and retire into a life of leisure is relatively recent. But with more people living longer, expectations of retirement are being reshaped.
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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.
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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.
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The Technology Trap: An interview with Carl Benedikt Frey
4 Nov 2019
AIQ speaks to Oxford economist Carl Benedikt Frey about his pioneering research into labour markets and automation.
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Rage against the machine
1 Nov 2019
A new wave of tech-driven automation promises improved productivity and economic growth. But as humans are replaced by robots, a political backlash is building.
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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.
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The moral philosopher’s curse
25 Oct 2019
Marte Borhaug explores the ethical dilemmas and unintended consequences that can result from trying to do the right thing.
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Analogies and models: Two approaches to thinking connectedly
24 Oct 2019
In an effort to understand how best to approach idea generation and collaboration, two critical components of successful investing, AIQ speaks to leading academics in the fields of analogical and model thinking.
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Finding Range: An interview with David Epstein
23 Oct 2019
AIQ speaks to author David Epstein about his new book, Range, which explores how generalists succeed in a specialised world.
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Link: Embracing the power of connected thinking
22 Oct 2019
In an increasingly complex world, understanding the connections between people and ideas is crucial. AIQ looks at how organisations can put connected thinking into practice.
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Private wants, public needs
4 Sep 2019
With society facing many urgent and complex challenges, deciding who is best-placed to deliver solutions has become an emotive and often political subject. We assess whether there is a better way to utilise the skills and resources of the public, private and third sectors for the greater good.
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Us vs them: Ian Bremmer on politics, trade and technology
8 Jul 2019
We speak to the political scientist about the long-term themes affecting emerging markets, from the trade war to technological automation to climate change.
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AIQ Client Matters

COVID, climate and Black Lives Matter: The stories that defined 2020
10 Dec 2020
We select some of our key pieces of content in a year of unending drama.
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Income investing: The return of Goldilocks and the three bears
3 Dec 2020
The Goldilocks environment is back, but bears are lurking in the shadows. Francois de Bruin explores the risks and opportunities that need to be managed to get outcomes that are “just right”.
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Race, ethnicity and investing: Practice what you preach
28 Oct 2020
In the second article in our series on racism, we explain why asset managers need to get their own house in order to be a credible agent for change at the companies they invest in.
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Race, ethnicity and investing: A time for action
28 Oct 2020
In the first of a two-part series on anti-black racism, we look at five areas asset managers need to focus on if their engagement efforts are to make a positive difference.
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Prime time: How streaming is reshaping film and TV
22 Oct 2020
The last ten years have seen the film and television industry transform beyond recognition. In the latest instalment of our editorial series, Link, experts from our credit and equity teams discuss whether streaming will continue its inexorable reshaping of the media landscape.
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Home and leisure in a pandemic: Girls (and boys) still want to have fun
13 Oct 2020
From cinemas to cruises, the consumer-driven home and leisure sector was hit hard by lockdown restrictions. With economies reopening in a disjointed manner, some sub-sectors have rebounded quickly while others continue to struggle. Here, we look at how the pandemic is reshaping the industry and the implications for investors.
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When equity becomes debt: The untapped potential of amortising-lease real estate
9 Oct 2020
Pension schemes seeking alternatives to bonds may find amortising leases a compelling option, writes Luke Layfield.
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Five charts that show Manchester is a city of the future
20 Aug 2020
In this short, visual article we present five charts that show why Manchester is such a rich, vibrant and economically prosperous city. Our view is that the ingredients of connectivity, culture, talent, scale and scientific heritage make the city well-equipped to thrive in the coming years and decades.
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The AIQ Podcast: Risk and resilience in an age of uncertainty
11 Aug 2020
The latest episode of the AIQ podcast explores the nature of risk in an uncertain world. How can we stay resilient when the unexpected occurs?
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Education, entrepreneurship and biological age: An interview with Andrew Scott
6 Aug 2020
In part two of our interview with Professor Andrew Scott from London Business School, we look at how policy will shift to take account of people living for longer and how service providers will respond.
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Longevity, policy and technology: An interview with Andrew Scott
6 Aug 2020
Living longer brings enormous opportunities to reshape how we spend our time. But in the first of a two-part interview, Andrew Scott from London Business School explains how advances in longevity and technology have not been matched by innovation in social structures or our approach to financial planning.
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Where can investors put cash to work when rates go negative?
30 Jul 2020
Just when investors thought they couldn’t sink any lower, the economic shock caused by COVID-19 has put further downward pressure on interest rates in developed markets. Caroline Hedges, head of global liquidity portfolio management at Aviva Investors, looks at the impact on money market funds.
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Defined Benefit pensions de-risking: A covenant and investment view
23 Jun 2020
In the midst of the COVID-19 shock, Felix Mantz from Lincoln Pensions and Joachim Sudre from Aviva Investors explore how defined benefit pension schemes should plan their journey towards an end game and adopt a more holistic approach to risk.
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COVID-19: Will credit markets remain open for business?
1 May 2020
While concerns around credit market liquidity have been rising since the global financial crisis, the COVID-19 sell-off has highlighted how fragile liquidity can be during periods of real stress. Colin Purdie discusses the short- and long-term implications for investment grade and high yield credit globally.
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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.
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Five charts that will make you think differently about retirement
23 Aug 2019
Retiring at 60 is a relatively new concept, and possibly a short-lived one in our history. As populations age – and age better – people are looking at a host of ways to stay in work and sustain their retirement income. We present five charts that sum up the changing landscape.
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House View
A quarterly publication which encapsulates the thinking of our investment team.