Recent thinking
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Fixed income
Another brick in the (maturity) wall: The outlook for global high yield
7 Dec 2023
The high-yield market is adjusting to a higher-for-longer interest rate environment, and some issuers may struggle to refinance due to rising borrowing costs. But there should be opportunities for discerning investors in 2024.
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Responsible Investing
Changing course: Creating a stable investment framework for offshore wind
30 Nov 2023
Better market mechanisms and grid connection arrangements are essential to restore a stable investment environment in the offshore wind sector, as Nick Molho explains.
-
Economic Research
The tipping point for climate finance: Making financial flows consistent with the Paris Agreement
29 Nov 2023
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.
-
Fixed income
The time to lead: Reforming multilateral development banks through a climate lens
28 Nov 2023
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?
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Fixed income
From cash rich to cash strapped? Why the US consumer boom could run out of road
24 Nov 2023
Our investment teams explain why buoyant US consumer spending will have to weaken eventually. That could pose problems for debt-laden consumer-facing companies.
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Equities
Passing the endurance test: Scouting for persistent performers in global equities
22 Nov 2023
Richard Saldanha and Francois de Bruin give their thoughts on how and where investors can find resilience in challenging economic environments.
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Pensions
Illiquidity premia in real assets: Q3 2023
17 Nov 2023
Our real assets research team crunch the data to see how evolving macro conditions are reflected in private market returns.
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Fixed income
Bond Voyage: A journey into fixed income
10 Nov 2023
In the latest instalment of our new monthly series, our investment-grade, high-yield, emerging-market and global sovereign bond teams share their thoughts on key topics from across the fixed-income universe.
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Fixed income
Storm before the calm? Emerging-market debt investors eye peak in US rates
8 Nov 2023
Carmen Altenkirch and Nafez Zouk report back from the recent International Monetary Fund/ World Bank meetings in Marrakech on the implications for EMD investors.
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Real Assets
It’s time to think about nature: Biodiversity and real estate funding
1 Nov 2023
Although the consideration of biodiversity risks remains limited for most assets so far, their longer-term impact is undeniable and needs to be considered when funding real estate.
-
Responsible Investing
Paying fair: The living wage comes of age
31 Oct 2023
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.
-
Economic Research
Gender balance in the workplace: Levelling up
25 Oct 2023
Despite progress on female representation in senior financial roles, the industry is nowhere near parity. We explore how finance can create a level playing field for all genders to thrive.
-
Equities
Softly does it? A Q&A with Peter Fitzgerald and Ian Pizer
24 Oct 2023
The managers of the AIMS Target Return strategy explain why the prospects for a range of asset classes suddenly look much brighter.
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Real Assets
Against the current: Seeking resilience in real estate equity
19 Oct 2023
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.
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Fixed income
From here to maturity: Is the high-yield market ready for lift off?
19 Oct 2023
Sunita Kara and Brent Finck argue it is more important than ever for investors to be selective when navigating the global high-yield landscape.
-
Economic Research
Fairness, climate action and nature protection: Our key takeaways from AGM season
18 Oct 2023
Investing to create a more sustainable, stable and prosperous world should be a core part of the purpose of any responsible asset manager. Louise Piffaut reviews our recent engagement activity designed to hold investee companies to account.
House View
No one can predict the future. But our quarterly House View sets out the collective wisdom of our investment teams on the current state of global markets – and where they might be heading.

The Little Book of Data
Good data visualisation makes us see the world anew. The sixth edition of The Little Book of Data presents original and curated visuals, charts and graphics to offer a fresh perspective on topics shaping our world.

Equities
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From cash rich to cash strapped? Why the US consumer boom could run out of road
Our investment teams explain why buoyant US consumer spending will have to weaken eventually. That could pose problems for debt-laden consumer-facing companies.
-
Passing the endurance test: Scouting for persistent performers in global equities
Richard Saldanha and Francois de Bruin give their thoughts on how and where investors can find resilience in challenging economic environments.
-
Softly does it? A Q&A with Peter Fitzgerald and Ian Pizer
The managers of the AIMS Target Return strategy explain why the prospects for a range of asset classes suddenly look much brighter.
-
China versus the West:The ongoing rise of economic nationalism
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.
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Multi-asset allocation views: Cutting through the noise
Issues around US tech, China, US Treasuries and Japanese monetary policy have hit the headlines in recent weeks. Sunil Krishnan explains how taking a long-term view can help multi-asset investors cut through the noise.
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The big dig: How mining could power a greener future
Clean energy technologies are set to drive growth in demand for critical minerals over the next two decades, throwing up a rich seam of investment opportunities – and challenges.
-
Tipping points and transformation: Getting on the right side of change
Rapid changes in the global economy could tip some sectors into low-carbon phases faster than incumbents expect, with important investment implications.
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Defensive sectors offer value amid AI frenzy: What next for global equity income investors?
Dividends proved resilient in the first half of 2023. Richard Saldanha considers what the rest of the year might have in store for income investors.
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Conflict and complexity: The investment view on defence
The war in Ukraine and rising geopolitical tensions are prompting governments around the world to beef up defence spending. We explore the key investment implications.
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Over(shooting) the limit: Why we need to keep within planetary boundaries
Demand for fuel and raw materials is decimating the natural world, making extreme climate effects more likely. So, what might the world be like for people and investors as we go beyond planetary boundaries?
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Supercharge me: The power of network effects
Network effects can boost a company’s growth and build durability – when combined with other strengths, argues Francois de Bruin.
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Don’t stand so close to me: Why UK equity income investors need to stop hugging the benchmark
Chris Murphy and James Balfour believe this is shaping up to be a much better year for UK income investors as the performance disparity between large and mid-cap stocks begins to unwind.
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What does the data say? Three charts for multi-asset investors
We take a visual approach to explain what’s happening with the US debt ceiling, LVMH and gold.
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Cellular agriculture: Science fiction or reality?
Cultured lab-grown meat and precision fermentation could significantly reduce the environmental impact of the food industry. But these technologies are at an early stage and questions remain around regulation and demand.
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Buy it or build it: Why innovation is key in healthcare
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.
-
Global megatrends: How climate, nature and social change will reshape economies
Climate change, natural resource scarcity and social shifts are transforming the corporate landscape. Investors need to understand the implications of these sustainability megatrends to manage risks and seize opportunities.
Fixed income
-
Another brick in the (maturity) wall: The outlook for global high yield
The high-yield market is adjusting to a higher-for-longer interest rate environment, and some issuers may struggle to refinance due to rising borrowing costs. But there should be opportunities for discerning investors in 2024.
-
The time to lead: Reforming multilateral development banks through a climate lens
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?
-
From cash rich to cash strapped? Why the US consumer boom could run out of road
Our investment teams explain why buoyant US consumer spending will have to weaken eventually. That could pose problems for debt-laden consumer-facing companies.
-
Bond Voyage: A journey into fixed income
In the latest instalment of our new monthly series, our investment-grade, high-yield, emerging-market and global sovereign bond teams share their thoughts on key topics from across the fixed-income universe.
-
Storm before the calm? Emerging-market debt investors eye peak in US rates
Carmen Altenkirch and Nafez Zouk report back from the recent International Monetary Fund/ World Bank meetings in Marrakech on the implications for EMD investors.
-
Softly does it? A Q&A with Peter Fitzgerald and Ian Pizer
The managers of the AIMS Target Return strategy explain why the prospects for a range of asset classes suddenly look much brighter.
-
From here to maturity: Is the high-yield market ready for lift off?
Sunita Kara and Brent Finck argue it is more important than ever for investors to be selective when navigating the global high-yield landscape.
-
Bond Voyage: A journey into fixed income
In the first of a new monthly series, our investment-grade, high-yield, emerging-market and global sovereign bond teams share their thoughts on key topics from across the fixed-income universe.
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How much is too much? Inflation uncertainty weighs on sovereign bond markets
With inflation down from multi-decade highs, monetary policymakers have delicate trade-offs to make as they plot their next steps. Steve Ryder and Daniel Bright assess the possible outcomes and implications for sovereign debt investors.
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Integrating net zero in sovereign bond portfolios: Understanding the impacts, risks and opportunities
Investing in climate transition and adaptation plans today adds to governments’ funding needs, but over time should make for stronger, more resilient economies. How should investors approach this to embed net-zero considerations into their sovereign bond portfolios?
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Multi-asset allocation views: Cutting through the noise
Financial markets have hit the headlines several times in recent weeks. Sunil Krishnan explains how taking a long-term view can help multi-asset investors cut through the noise.
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Multi-asset allocation views: Cutting through the noise
Issues around US tech, China, US Treasuries and Japanese monetary policy have hit the headlines in recent weeks. Sunil Krishnan explains how taking a long-term view can help multi-asset investors cut through the noise.
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Navigating uncertainty and avoiding underperformers: Plotting a course for the long term in buy-and-maintain credit
As the current economic cycle draws to a close, our buy-and-maintain team discuss opportunities and risks in credit markets.
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Mad about the boy: Understanding the economic and investment impacts of El Niño
How much do ocean circulation patterns impact economic outcomes and sovereign risk? Rick Stathers and Carmen Altenkirch assess El Niño, the climate phenomenon driving atmospheric circulation in the tropics, affecting everything from GDP to inflation and social stability.
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Staying the course: The ongoing appeal of investment-grade credit
James Vokins and Chris Higham explain why investment-grade bonds still offer value despite persistent market uncertainty.
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The heat is on: Opportunities and risks for climate-focused bond investors
Thomas Chinery and Justine Vroman discuss current conditions in the investment-grade market, the ECB’s “green QT” programme, and why oil and gas firms must go further and faster to decarbonise.
Multi-asset & multi-strategy
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Softly does it? A Q&A with Peter Fitzgerald and Ian Pizer
The managers of the AIMS Target Return strategy explain why the prospects for a range of asset classes suddenly look much brighter.
-
Integrating net zero in sovereign bond portfolios: Understanding the impacts, risks and opportunities
Investing in climate transition and adaptation plans today adds to governments’ funding needs, but over time should make for stronger, more resilient economies. How should investors approach this to embed net-zero considerations into their sovereign bond portfolios?
-
China versus the West:The ongoing rise of economic nationalism
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.
-
Multi-asset allocation views: Cutting through the noise
Financial markets have hit the headlines several times in recent weeks. Sunil Krishnan explains how taking a long-term view can help multi-asset investors cut through the noise.
-
Multi-asset allocation views: Cutting through the noise
Issues around US tech, China, US Treasuries and Japanese monetary policy have hit the headlines in recent weeks. Sunil Krishnan explains how taking a long-term view can help multi-asset investors cut through the noise.
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Bond investing: Five things to know about fixed income
In this article, we explain key concepts of bond investing, such as yield and duration, explore the role of bonds in investment portfolios and look at the current state of the bond markets.
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The cash conundrum: Five things to know about cash, saving and investing
In this article, we explore the logic behind holding assets in cash, the difference between saving and investment, and why a longer-term focus may help investors achieve their objectives.
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The big dig: How mining could power a greener future
Clean energy technologies are set to drive growth in demand for critical minerals over the next two decades, throwing up a rich seam of investment opportunities – and challenges.
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What does the data say? Five charts for multi-asset investors
We take a visual approach to explain what’s happening with UK inflation, web traffic for ChatGPT and Threads, and the slower-than-expected recovery of China’s economy.
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Multi-asset allocation views: A silver lining for gilts
UK gilts have underperformed other government bonds over the last year. Sunil Krishnan explains why the worst may be over.
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Multi-asset allocation views: An emerging direction
With economies getting stronger and interest rates nearing their peak, the environment looks supportive for equity and bond markets, but emerging markets face challenges. Sunil Krishnan assesses the implications for multi-asset investors.
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What does the data say? Three charts for multi-asset investors
We take a visual approach to explain what’s happening with the US debt ceiling, LVMH and gold.
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Multi-asset allocation views: Perfect storm or storm in a teacup?
Recent concerns over the banking sector seem to have eased, but have raised uncertainties around the availability of credit and the path of interest rates. Sunil Krishnan assesses the consequences for multi-asset investors.
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Getting a taste for fiscal intervention, but at what cost?
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.
-
Forget what you think you know: Staying humble in a world of rising risk
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.
-
What does the data say? Five charts on financial fragilities
We take a visual approach to explain what’s happening with banks.
Real assets
-
Changing course: Creating a stable investment framework for offshore wind
Better market mechanisms and grid connection arrangements are essential to restore a stable investment environment in the offshore wind sector, as Nick Molho explains.
-
It’s time to think about nature: Biodiversity and real estate funding
Although the consideration of biodiversity risks remains limited for most assets so far, their longer-term impact is undeniable and needs to be considered when funding real estate.
-
Against the current: Seeking resilience in real estate equity
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.
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Rates, repricing and relative value: The outlook for multi-asset real assets
James Tarry and Luke Layfield from our multi-asset real assets portfolio management team discuss the outlook for real estate and infrastructure and how shifts in UK climate policy may affect the push for net zero.
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As one door closes… How changes in long income are creating value opportunities
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.
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Relative value in real assets: Q2 2023
Our real assets research team drill into proprietary data to compare risk and return across sectors, drawing out those showing most relative value.
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Deals delayed and crowded trades…But investors can still find value in infrastructure debt
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.
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Tipping points and transformation: Getting on the right side of change
Rapid changes in the global economy could tip some sectors into low-carbon phases faster than incumbents expect, with important investment implications.
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Breaking ground: Opportunities in life-sciences real estate
In this article, we look at the strong fundamentals of this emerging asset class, as well as the opportunities and challenges for investors.
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Methane: Heating up
Methane is the second most important gas contributor to climate change after carbon dioxide, but its warming potential is many times greater. Mikhaila Crosby explains why addressing emissions is a key priority.
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Waiting games and funding gaps: A mixed picture for real estate debt
The higher rates regime is testing borrowers everywhere. Gregor Bamert considers the implications for real estate debt.
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Plug in and power up: How EV-charging infrastructure can help future-proof real assets portfolios
As the transition away from petrol-powered cars to electric vehicles accelerates, demand for charging points is rising. We explore the implications for investors in real assets.
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Flex appeal: Could private debt investors be set for a once in a generation opportunity?
Ewan Macaulay outlines why private debt markets in real assets offer compelling relative-value opportunities, despite macroeconomic uncertainty.
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Can they, should they, will they? Is now the time for illiquid assets in DC?
What role could private assets play in UK defined-contribution pension schemes, where decision-makers are searching for returns and diversification? Heather Brown from our UK pensions team consults a panel of specialists.
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When the tide goes out
Ben Sanderson explains why polarisation in real estate investment performance is only going to increase from here.
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Why are we waiting? Time for UK infrastructure to pick up pace
After a slow start to the year, Darryl Murphy ponders what it will take to get the UK infrastructure market moving again.
Economic research
-
The tipping point for climate finance: Making financial flows consistent with the Paris Agreement
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.
-
Gender balance in the workplace: Levelling up
Despite progress on female representation in senior financial roles, the industry is nowhere near parity. We explore how finance can create a level playing field for all genders to thrive.
-
Fairness, climate action and nature protection: Our key takeaways from AGM season
Investing to create a more sustainable, stable and prosperous world should be a core part of the purpose of any responsible asset manager. Louise Piffaut reviews our recent engagement activity designed to hold investee companies to account.
-
Race, ethnicity and investing: Developing an inclusive culture
Since 2020, we have taken action to improve our own performance on diversity, equity and inclusion and engaged with investee companies on the key issues. On black representation specifically, building an inclusive culture and pipeline of talent are long-term efforts, as Mark Versey explains.
-
China versus the West:The ongoing rise of economic nationalism
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.
-
Disability inclusion in the workplace: Taking down the barriers
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.
-
Accelerating climate solutions: The Edinburgh Earth Initiative in profile
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.
-
Buy it or build it: Why innovation is key in healthcare
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.
-
Global megatrends: How climate, nature and social change will reshape economies
Climate change, natural resource scarcity and social shifts are transforming the corporate landscape. Investors need to understand the implications of these sustainability megatrends to manage risks and seize opportunities.
-
Gains or glitches? What generative AI means for investors
The release of ChatGPT has heralded an artificial intelligence boom. We assess the investment and ESG considerations.
-
Getting a taste for fiscal intervention, but at what cost?
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.
-
Forget what you think you know: Staying humble in a world of rising risk
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.
-
Fragilities exposed as cheap money disappears
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.
-
What does the data say? Five charts on financial fragilities
We take a visual approach to explain what’s happening with banks.
-
LGBTQ+ inclusion in the workplace: Creating psychological safety
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.
-
Supply and demand: Tackling both sides of the carbon emissions equation
Despite progress through our Climate Engagement Escalation Programme, more action is needed from the world’s 30 systemically important carbon emitters, as Sora Utzinger and Louise Wihlborn explain.
Insurance
-
The tipping point for climate finance: Making financial flows consistent with the Paris Agreement
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.
-
Gender balance in the workplace: Levelling up
Despite progress on female representation in senior financial roles, the industry is nowhere near parity. We explore how finance can create a level playing field for all genders to thrive.
-
Fairness, climate action and nature protection: Our key takeaways from AGM season
Investing to create a more sustainable, stable and prosperous world should be a core part of the purpose of any responsible asset manager. Louise Piffaut reviews our recent engagement activity designed to hold investee companies to account.
-
Race, ethnicity and investing: Developing an inclusive culture
Since 2020, we have taken action to improve our own performance on diversity, equity and inclusion and engaged with investee companies on the key issues. On black representation specifically, building an inclusive culture and pipeline of talent are long-term efforts, as Mark Versey explains.
-
China versus the West:The ongoing rise of economic nationalism
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.
-
Disability inclusion in the workplace: Taking down the barriers
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.
-
Accelerating climate solutions: The Edinburgh Earth Initiative in profile
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.
-
Buy it or build it: Why innovation is key in healthcare
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.
-
Global megatrends: How climate, nature and social change will reshape economies
Climate change, natural resource scarcity and social shifts are transforming the corporate landscape. Investors need to understand the implications of these sustainability megatrends to manage risks and seize opportunities.
-
Gains or glitches? What generative AI means for investors
The release of ChatGPT has heralded an artificial intelligence boom. We assess the investment and ESG considerations.
-
Getting a taste for fiscal intervention, but at what cost?
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.
-
Forget what you think you know: Staying humble in a world of rising risk
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.
-
Fragilities exposed as cheap money disappears
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.
-
What does the data say? Five charts on financial fragilities
We take a visual approach to explain what’s happening with banks.
-
LGBTQ+ inclusion in the workplace: Creating psychological safety
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.
-
Supply and demand: Tackling both sides of the carbon emissions equation
Despite progress through our Climate Engagement Escalation Programme, more action is needed from the world’s 30 systemically important carbon emitters, as Sora Utzinger and Louise Wihlborn explain.
Pensions
-
The tipping point for climate finance: Making financial flows consistent with the Paris Agreement
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.
-
Gender balance in the workplace: Levelling up
Despite progress on female representation in senior financial roles, the industry is nowhere near parity. We explore how finance can create a level playing field for all genders to thrive.
-
Fairness, climate action and nature protection: Our key takeaways from AGM season
Investing to create a more sustainable, stable and prosperous world should be a core part of the purpose of any responsible asset manager. Louise Piffaut reviews our recent engagement activity designed to hold investee companies to account.
-
Race, ethnicity and investing: Developing an inclusive culture
Since 2020, we have taken action to improve our own performance on diversity, equity and inclusion and engaged with investee companies on the key issues. On black representation specifically, building an inclusive culture and pipeline of talent are long-term efforts, as Mark Versey explains.
-
China versus the West:The ongoing rise of economic nationalism
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.
-
Disability inclusion in the workplace: Taking down the barriers
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.
-
Accelerating climate solutions: The Edinburgh Earth Initiative in profile
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.
-
Buy it or build it: Why innovation is key in healthcare
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.
-
Global megatrends: How climate, nature and social change will reshape economies
Climate change, natural resource scarcity and social shifts are transforming the corporate landscape. Investors need to understand the implications of these sustainability megatrends to manage risks and seize opportunities.
-
Gains or glitches? What generative AI means for investors
The release of ChatGPT has heralded an artificial intelligence boom. We assess the investment and ESG considerations.
-
Getting a taste for fiscal intervention, but at what cost?
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.
-
Forget what you think you know: Staying humble in a world of rising risk
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.
-
Fragilities exposed as cheap money disappears
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.
-
What does the data say? Five charts on financial fragilities
We take a visual approach to explain what’s happening with banks.
-
LGBTQ+ inclusion in the workplace: Creating psychological safety
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.
-
Supply and demand: Tackling both sides of the carbon emissions equation
Despite progress through our Climate Engagement Escalation Programme, more action is needed from the world’s 30 systemically important carbon emitters, as Sora Utzinger and Louise Wihlborn explain.
Responsible investment
-
Changing course: Creating a stable investment framework for offshore wind
Better market mechanisms and grid connection arrangements are essential to restore a stable investment environment in the offshore wind sector, as Nick Molho explains.
-
The tipping point for climate finance: Making financial flows consistent with the Paris Agreement
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 time to lead: Reforming multilateral development banks through a climate lens
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 fair: The living wage comes of age
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.
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Gender balance in the workplace: Levelling up
Despite progress on female representation in senior financial roles, the industry is nowhere near parity. We explore how finance can create a level playing field for all genders to thrive.
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Fairness, climate action and nature protection: Our key takeaways from AGM season
Investing to create a more sustainable, stable and prosperous world should be a core part of the purpose of any responsible asset manager. Louise Piffaut reviews our recent engagement activity designed to hold investee companies to account.
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Race, ethnicity and investing: Developing an inclusive culture
Since 2020, we have taken action to improve our own performance on diversity, equity and inclusion and engaged with investee companies on the key issues. On black representation specifically, building an inclusive culture and pipeline of talent are long-term efforts, as Mark Versey explains.
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Integrating net zero in sovereign bond portfolios: Understanding the impacts, risks and opportunities
Investing in climate transition and adaptation plans today adds to governments’ funding needs, but over time should make for stronger, more resilient economies. How should investors approach this to embed net-zero considerations into their sovereign bond portfolios?
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Disability inclusion in the workplace: Taking down the barriers
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.
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Navigating uncertainty and avoiding underperformers: Plotting a course for the long term in buy-and-maintain credit
As the current economic cycle draws to a close, our buy-and-maintain team discuss opportunities and risks in credit markets.
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The big dig: How mining could power a greener future
Clean energy technologies are set to drive growth in demand for critical minerals over the next two decades, throwing up a rich seam of investment opportunities – and challenges.
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When the chips are down: Geopolitics threatens the semiconductor boom
While the semiconductor industry should see strong demand thanks to the rise in artificial intelligence and cloud computing, geopolitical and supply-chain risks loom.
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Deals delayed and crowded trades…But investors can still find value in infrastructure debt
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.
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Mad about the boy: Understanding the economic and investment impacts of El Niño
How much do ocean circulation patterns impact economic outcomes and sovereign risk? Rick Stathers and Carmen Altenkirch assess El Niño, the climate phenomenon driving atmospheric circulation in the tropics, affecting everything from GDP to inflation and social stability.
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Tipping points and transformation: Getting on the right side of change
Rapid changes in the global economy could tip some sectors into low-carbon phases faster than incumbents expect, with important investment implications.
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The heat is on: Opportunities and risks for climate-focused bond investors
Thomas Chinery and Justine Vroman discuss current conditions in the investment-grade market, the ECB’s “green QT” programme, and why oil and gas firms must go further and faster to decarbonise.
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