Illiquidity premia in private debt

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.

Opportunities are emerging across real estate markets in the UK and Europe, but investors will have to be nimble and discerning in their asset selection, say Imogen Ebbs and George Fraser-Harding.

Faced with a more challenging outlook for returns, real-estate equity investors must get more sophisticated and active, argue Ben Sanderson and David Hedalen.

China looks set for a rapid economic rebound in the first quarter after finally abandoning its zero-COVID policy. But will the recovery prove temporary as longer-term dynamics reassert themselves?

Zoe Austin makes the case for a multi-asset investment approach in real assets.

Alastair Sewell offers a guide to money market funds and the vital role they play in cash management for corporate treasurers and institutional investors.

Central banks will find it far harder to eradicate inflation than markets anticipate and will be in no hurry to ease off on rate hikes, argues Ian Pizer.

Institutional investors seeking alternatives to bonds may find amortising leases a compelling option, writes Mark Wells.

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.

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.

In this Q&A, Alastair Sewell explains why investors need to urgently rethink their approaches to collateral cash management.

As a key 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 2022 letter.