• Unconstrained management techniques enable the team to better diversify risks and reduce exposures to movements in interest rates, which tend to be the primary source of return volatility. (morganstanley.com)
  • Our analysis shows that many hedge fund sectors benefit from volatility and higher interest rates, including Equity Market Neutral, Discretionary Macro, Fixed Income Relative Value, and CTAs. (morganstanley.com)
  • As investors seek defensive strategies to mitigate the effects of persistent inflation, macro uncertainty and market volatility, fixed income - particularly out-of-index securities - have the potential to offer attractive yield with less overall volatility than equities. (advisorperspectives.com)
  • Multi-sector fixed income strategies can deliver significant benefits to investors - including yield enhancement, volatility reduction and diversification of asset-class exposures - because of managers having the freedom to make tactical shifts between fixed-income sub-sectors. (advisorperspectives.com)
  • Such an approach can provide higher income and total return potential versus core bonds, with lower volatility than dedicated high yield strategies, while diversifying the duration exposure of core bonds. (advisorperspectives.com)
  • The post-crisis global environment has been characterized by financial repression (via regulation and dominant central banks), mostly passive or restrictive fiscal policies, weak growth in productivity and real wages, subdued inflation, largely uninhibited trade and capital flows, and low macro and market volatility. (pimco.com)
  • As the inflationary environment and volatility in markets raise concerns amongst those saving for retirement, rising interest rates present an opportunity for asset managers to revisit their retirement income solution offerings. (oliverwyman.com)
  • We saw extraordinary volatility in the UK fixed income market under short-lived Prime Minister Truss, whose plans to cut taxes and increase borrowing led to weeks of chaos in financial markets. (janushenderson.com)
  • This growing risk of a false landing fits into a wider picture of greater uncertainty and volatility. (wellington.com)
  • We offer market-neutral exposure with low idiosyncratic risk, targeting low annualised volatility - broad diversification is key to achieving this. (hermes-investment.com)
  • Whilst we believe there is no "one size fits all" approach for all investors, on the following pages, we outline why we think going Global and Active in your Fixed Income allocation can add value. (ubs.com)
  • Countries are now at different points of the cycle, but with uniformly low rates, which brings a unique combination of risks for bond investors. (ubs.com)
  • If these growing risks were to be reflected in rising bond yields, the immediate consequences for investors could be significant. (ubs.com)
  • To understand this a little better, we can consider the impact of higher yields on the overall global investment grade fixed income universe (as represented by the Bloomberg Barclays Global Aggregate Index, which is a common bond index tracked by investors). (ubs.com)
  • Fixed income is the biggest asset class in terms of invested capital but this can create challenges for investors. (ubs.com)
  • Investors are coming to understand that ESG factors are material and relevant to security analysis, particularly for a space that, at $12 trillion in total size, accounts for over 25% of the total public fixed income market. (fundssociety.com)
  • Investors armed with this knowledge can determine what risks they are comfortable with and what their return objectives are. (ssga.com)
  • The decision to employ index or active strategies in sectors such as US Credit can depend on investors' objectives and risk appetite - not all investors in fixed income markets are profit-maximizers. (ssga.com)
  • Youngju Nielsen, co-founder of Quantavium Capital, believes there will be many changes on the horizon for fixed income trading to allow it to become a more transparent process that should attract investors and traders. (wallstreetandtech.com)
  • Previously, she was a research officer at Barclays Global Investors. (wallstreetandtech.com)
  • Many investors are considering adding multi-sector fixed income strategies to their legacy bond portfolios to increase diversification and reduce bond benchmark-linked duration risk. (advisorperspectives.com)
  • The new fund is designed to offer investors risk/return characteristics that are different from traditional long-only equity or fixed income strategies. (hedgeweek.com)
  • While some nominal‐minded investors will help drive a revival in fixed income, others will (real)ize that higher nominal yields are a fallacy, and that long‐term investment success requires shifting their mindset to build portfolios capable of generating real returns. (oliverwyman.com)
  • When these catalysts emerge, how does one take a mean reversion view without exposing investors to abnormally large risks? (janushenderson.com)
  • Joanna Welsh, a 49-year-old Liverpudlian, is chief risk officer at Citadel and was critical to the firm's $16bn in profits for investors last year. (efinancialcareers.hk)
  • We can be a really attractive destination for a subset of investors," says Mark Sullivan, team leader of global macro and fixed income and head of hedge fund and liquid alternative strategies. (institutionalinvestor.com)
  • Amid macroeconomic and geopolitical uncertainties, investors may be well served by staying diversified and allocating to assets, such as gold, that have the potential to mitigate idiosyncratic risks. (pimco.com)
  • But over much of history, the price of gold was either fixed or gold was a relatively illiquid physical asset held by a small minority of investors. (pimco.com)
  • At current valuations, fixed income investors are really being compensated for risk, while also gaining ongoing diversification benefits stemming from China's economic divergence. (ninetyone.com)
  • Investors should be wary of jumping to simple conclusions on the investment implications of climate change and the global transition to net zero. (ninetyone.com)
  • Our integrated platform is focused on providing investors attractive, through-the-cycle risk-adjusted returns that are less correlated with traditional debt and equity markets. (barings.com)
  • An increasing number of investors are moving towards systematic strategies, including in fixed income. (cib.bnpparibas)
  • As market concentration is on the rise, diversification provides investors a critical tool to mitigate concentration risk and to generate more consistent returns. (ssga.com)
  • The Systematic Equity-Active 1 team believes that diversification is a critical factor for investors to not only combat concentration risk, but to also generate more consistent performance in portfolios. (ssga.com)
  • Investors are searching for income in a world with many highly valued, and even negative-yielding, assets. (hermes-investment.com)
  • Investors should prepare for a synchronized global slowdown next year as tighter financial conditions and increased political and economic uncertainties sap "animal spirits. (pimco.co.uk)
  • Is the return of US real income growth good or bad news for investors? (schroders.com)
  • However, investors should be equally concerned about the end of the real income squeeze. (schroders.com)
  • Fixed Income Q1 Survey 2023: Will the banking blip cause managers to change course? (russellinvestments.com)
  • The prospect of a global recession is the biggest concern among managers, to which they attach a 40% probability of materialising between 2023 and 2025. (russellinvestments.com)
  • 1 As of May 2023, the former Active Quantitative Equity (AQE) team has been renamed the Systematic Equity-Active team. (ssga.com)
  • She built the proprietary quantitative strategy for the fixed income prop trading desk at Bear Stearns, as well as the systematic rates trading business at Citi. (wallstreetandtech.com)
  • We perform statistical arbitrage on global fixed income -- major countries' interest rates -- using quantitative discipline and a systematic process. (wallstreetandtech.com)
  • The team members have previously worked with me, especially our senior algorithmic trader, who was in charge of development for my systematic trading business. (wallstreetandtech.com)
  • Our experienced team applies rigorous risk management and governance mechanism to minimize idiosyncratic and systematic risks. (mekongstrategic.com)
  • We show that this model can be used to separate systematic from genuinely idiosyncratic return drivers in foreign exchange markets, and also to build a simple, systematic long-short strategy that would have substantially outperformed the average EM or DM currency market return over the past 10-15 years. (nb.com)
  • The task of following a systematic strategy is now run on a computer system, which reduces risk of human error around execution and gives the client peace of mind. (cib.bnpparibas)
  • A major question for us to consider, in terms of determining where we are in the expansion of risk premia, is whether inflation has peaked, potentially ushering in disinflation again, or if we think inflation will end up being more persistent? (janushenderson.com)
  • The biggest risk for IG credit markets is inflation remaining well above the Fed's target, leading to a prolonged period of restrictive monetary policy, and ultimately a deep U.S. recession. (russellinvestments.com)
  • Even after gold ceased to be the "standard" in the global monetary system last century, it maintains its glitter as a viable investment, especially during periods of rising inflation. (pimco.com)
  • Pretend there was an asset that had no risk of default and a real - that is, inflation-adjusted - value that varied over time but did so around some constant level. (pimco.com)
  • However, several of the lead signals our macro strategists monitor point to an alternative narrative in which global growth and inflation may be bottoming out and central banks could be forced to undertake more tightening than markets anticipate. (wellington.com)
  • Research by our macro strategists suggests that we have entered a very different economic era , with structurally higher inflation, frequent cycles and more pronounced country and idiosyncratic risk. (wellington.com)
  • Our base case has global inflation peaking by the first quarter and then moderating closer to central bank targets by the end of 2022, and we are closely monitoring upside risks to that view. (pimco.com.sg)
  • The timing and extent to which these issues resolve and inflation moderates is highly uncertain, raising the risk of an unwanted jump in longer-term inflation expectations - an outcome that we expect central banks will want to avoid or mitigate. (pimco.com.sg)
  • Since we last shared our Cyclical Outlook in June ( "Inflation Inflection" ), the robust global recovery has continued, although unevenly across regions and sectors. (pimco.com.sg)
  • Moreover, core CPI inflation has eased markedly after stripping out idiosyncratic outliers such as shelter and used car prices. (schroders.com)
  • This was largely driven by idiosyncratic events in Latin America in 2015-2016 and has settled back to 1.4 times by the end of 2022. (ubs.com)
  • Latin America is benefiting from the shifting global backdrop, especially Mexico given its proximity to the US. (ninetyone.com)
  • The team believes that markets can be inefficient and by performing rigorous analysis, the team can position portfolios appropriately to add value over time. (morganstanley.com)
  • Nielsen has 12 years of investment experience in the fixed income space, running global interest rate portfolios at the proprietary trading groups of Bear Stearns, J.P. Morgan Chase and Citigroup. (wallstreetandtech.com)
  • A monthly publication featuring the Global Multi-Asset Team's latest views on the economic and market environment and how best to position portfolios. (morganstanley.com)
  • PutWrite strategies can improve the risk-return efficiency, liquidity, flexibility and cost-effectiveness of investor portfolios. (nb.com)
  • In short, private credit can function as a yield and/or total return enhancer within portfolios by offering a combination of income and capital appreciation, along with diversification benefits. (moneyletter.com)
  • Led by our experienced team of investment professionals, we seek to build high conviction portfolios and deliver long-term capital growth. (barings.com)
  • Our monthly Global Equity Observer shares our thoughts on world events as seen through the lens of our high quality investment process. (morganstanley.com)
  • Depending on the methodology used, the market capitalization of the global fixed income market is one-third to three times greater than the global equity market. (advisorperspectives.com)
  • The global debt market is roughly $300 trillion in size (see chart below) whereas global equity market capitalization is in the $101 to 108 trillion range. (advisorperspectives.com)
  • As documented above, the global bond market has an estimated market capitalization of $305 trillion with significantly more bond issuers and bond issuances than equity counterparts. (advisorperspectives.com)
  • We invest across multiple asset classes: fixed income, venture capital, listed and private equity, infrastructure and properties. (mekongstrategic.com)
  • MSC seeks to acquire minority equity shares in high performing companies with capable management teams through purchase of publicly listed stocks, secondary market, growth equity or quasi equity instruments. (mekongstrategic.com)
  • Special Situations Cayman Fund L.P. is an equity fund (private and public equity) run by Austin Marxe of AWM Investment Company, Inc. Sloane Robinson's Global Fund (19), run from the City of London, was designed at the outset as an EAFE fund to invest in non-US equities. (hedgefundinsight.org)
  • The T. Rowe Price China Evolution Equity Strategy has been designed to do just that - seeking to exploit inefficiencies across the full spectrum of Chinese markets (both onshore and offshore) to find the best risk-reward opportunities. (troweprice.com)
  • Our experienced team seeks differentiated sources of return across private equity, real assets and asset-based investments. (barings.com)
  • Unlike equities, however, the fixed income market is incredibly diverse and complex. (ssga.com)
  • You might have seen similar approaches in other asset classes, such as equities, but this is a relatively young and fast-growing area in fixed income that benefits from recent years' developments in electronic trading. (wallstreetandtech.com)
  • For an equal-weighted portfolio consisting of equities and bonds, we observed that nearly all contribution to total portfolio risk came from equities. (indexologyblog.com)
  • To achieve equal risk contribution, the nominal weights in the portfolio would need to be closer 20% equities and 80% bonds. (indexologyblog.com)
  • We have a constructive view on global equities, but are preparing for late-cycle dynamics, with greater focus on security selection. (pimco.com.sg)
  • However, compared to the previous survey in Q4 2022, the perceived risk of stagflation over the next five years has declined. (russellinvestments.com)
  • In this episode, Mercer colleagues and special guest Urs Bolt, Product Manager in Digital Banking and Wealth Management, come together to discuss the key findings from the 2022 global wealth management investment survey as well as the possible action points to help wealth managers around the world take the next step on their client and growth journey. (mercer.com)
  • Before his years in Wealth Management, Christophorus contributed to Valida Vorsorge Management, a prominent pension fund in Austria, where he served as part of the asset management team. (opalesque.com)
  • Youngju Nielsen is the co-founder of Quantavium Capital , a fixed-income fund based in Jersey City, N.J., that will begin operations in the third quarter of 2012. (wallstreetandtech.com)
  • Fund manager Peter Lucey is planning to launch a new risk mitigation fund, Bull & Bear, on 1 October. (hedgeweek.com)
  • Through our Fixed Income Fund, Mekong Strategic Capital offers a diversified pool of attractive, risk- adjusted fixed interest returns with liquidity options. (mekongstrategic.com)
  • As the concept of hedge fund strategies was adopted elsewhere Cayman became the global offshore hub. (hedgefundinsight.org)
  • SR Global Fund is believed to be run on behalf of the partners of Sloane Robinson with no external capital since 2020. (hedgefundinsight.org)
  • Premier Investment Funds SPC (7) and The Alexandria Fund (11) are offshore wealth management vehicles managed by Zurich's GSI (Global Strategic Investments AG) and Alexandria Bancorp respectively. (hedgefundinsight.org)
  • But hedge fund and other alternatives managers - especially those who are risk-taking, headstrong, and interested in having their name on the door - might not want to be a small part of a $1.4 trillion manager, and Sullivan concedes that it's not for everyone. (institutionalinvestor.com)
  • Unlike a lot of hedge fund firms that will capitalize a team, see what they can do, and then keep or cut them loose, Sullivan insists that Wellington isn't going to a high-turnover model. (institutionalinvestor.com)
  • A third point concerns rationalisation: once you know exactly what's in a strategy, you can try to anticipate the future behaviour of a fund and to understand and quantify its risk and return features, which some portfolio managers find useful in the construction of their global portfolio. (cib.bnpparibas)
  • The objective of the workshop was to provide the Board with insights as to how the investor agenda is being influenced by both clients and regulators and also to consider initiatives to strengthen the governance of risks and opportunities associated with the energy transition, such as the TCFD. (esgclarity-intelligence.com)
  • In-depth insights on emerging and global markets for spotting hot growth stories. (morganstanley.com)
  • Investment team insights to help you navigate the risks and opportunities ahead. (janushenderson.com)
  • Over two days in early March, our emerging market (EM) experts joined some of our institutional investor clients from across the globe in our London offices to reflect on a shifting global backdrop and share insights on how to navigate an uncertain future. (ninetyone.com)
  • Read, watch and listen to the latest insights from our global investment teams. (barings.com)
  • Inge West, Sustainable Investment Specialist in Mercer's Investment Solutions team is joined by Helga Birgden, Global Chair on Sustainable Investment at Mercer and John Green, Global Chief Commercial Officer of Ninety One, to explore how asset managers are supporting the climate transition and gain practical insights on how global capital can be harnessed to target local climate challenges. (mercer.com)
  • A well-balanced portfolio with exposure to a diverse range of fixed income asset classes is an important start, but it's not enough to ensure uncorrelated returns or appropriate diversification. (morganstanley.com)
  • Bull & Bear will aim to provide diversification & uncorrelated returns irrespective of the market environment, and the investment team believes that incorporating the fund's mitigating strategies in a balanced portfolio may reduce overall exposure to market movements by focusing on idiosyncratic sources of return. (hedgeweek.com)
  • While other banks struggled to establish their risk exposure, SecDb was special because it gave Goldman's risk managers an instant window into the firm's aggregate exposures. (efinancialcareers.hk)
  • As described by Risk Magazine, Welsh runs something called Citadel's Portfolio Construction Group, a 50-person unit that runs Citadel's proprietary risk factor model and that constantly simulates scenarios to establish Citadel's risk exposure. (efinancialcareers.hk)
  • Our approach includes taking active bets to gain exposure our alpha factors, yet at the same time, we are focused on minimizing idiosyncratic, or stock-specific risk - factors which we have less confidence in predicting. (ssga.com)
  • We seek exposure to attractive sources of credit quality and income in the US, Europe and emerging markets. (hermes-investment.com)
  • 2 The Oversight Committee oversees LAM's strategies and establishes reporting lines for investment professionals on portfolio management teams. (esgclarity-intelligence.com)
  • The fund's objective is to preserve wealth, and achieve risk-adjusted returns from investing across a diversified range of liquid, repeatable, and uncorrelated strategies. (hedgeweek.com)
  • or (2) accept the "3‐D" problem by redefining what "fiduciary duty" entails to drive alignment between risk/return aims, ESG/sustainability commitments and client objectives, and adopting a proactive, agile mindset that changes client engagement approaches, investment processes, operating models, talent strategies and incentive structures. (oliverwyman.com)
  • Our broad capabilities allow us to go beyond traditional fixed income strategies and access investments spanning the quality, yield and liquidity spectrum. (barings.com)
  • They have got lots of employees, they started Liontrust, River & Mercantile and Thames River and they've done multi-asset and more idiosyncratic strategies before. (international-adviser.com)
  • Walleye's Fixed Income group typically consists of strategies focused on relative value opportunities within corporate credit and sovereign or pseudo sovereign interest rate markets. (walleyecapital.com)
  • A skilled, integrated team whose principal members have a strong record of implementing relative-value credit strategies since 2004. (hermes-investment.com)
  • THFJ visited Alcentra's London headquarters and met several senior team members including two 2015 hires and co-founder, Chairman and Chief Executive David Forbes-Nixon, who also manages the special situations and distressed strategies. (thehedgefundjournal.com)
  • It offers traditional and alternative strategies working across the whole continuum of sub-investment grade credit, which cultivates a culture that enables analysts, who average 15 years' experience, to choose the optimal instrument to express their views and deliver the best risk-adjusted returns. (thehedgefundjournal.com)
  • however, sometimes as a consequence of a restructuring where senior management have failed to execute strategies and service their debt appropriately, "we may upgrade the senior team running the company" explains Forbes-Nixon. (thehedgefundjournal.com)
  • In general, the case for indexing in fixed income is strongest when alpha potential is low and the cost of indexing is also low (i.e. where liquidity is high and bid/offer spreads are reasonable). (ssga.com)
  • Currently, while we believe there is not sufficient evidence to say reserves are truly scarce, reserves have declined substantially, thus making the system more susceptible to idiosyncratic liquidity crunches. (jpmorgan.com)
  • There will be divergent and idiosyncratic outcomes that countries and regions need to prepare for and hedge their bets around. (ninetyone.com)
  • From an investment perspective, this greater uncertainty and differentiation between countries and assets translates into sizeable new risks, with a much wider distribution of potential outcomes but also a larger macro opportunity set to take advantage of. (wellington.com)
  • Outcomes include greater transparency, improved behaviours and reduced uncertainty and risk. (hermes-investment.com)
  • In our discussions, we viewed the risks around our "growing but slowing" baseline as broadly symmetric, with trade policy being the main near-term swing factor for better or worse outcomes. (pimco.co.uk)
  • The Strategic Income Strategy seeks a positive absolute return by investing primarily in fixed income securities across a spectrum of asset classes including high yield bonds, investment-grade bonds, mortgage and asset-backed securities and convertibles. (morganstanley.com)
  • This restricts the ability for very large funds to hedge risks and limits their investment opportunities. (morganstanley.com)
  • The team believes a portfolio now needs to be "right-sized" to maximize investment-return opportunities. (morganstanley.com)
  • That's why they have developed an integrated approach, meaning that each investment team member executes on this ESG process. (fundssociety.com)
  • The benefit of integration is that investment team members consistently apply the process across the analysis of every security. (fundssociety.com)
  • From Sectors and Smart Beta to Fixed Income, SPDR Exchange Traded Funds (ETFs) give you wide access to diverse investment opportunities. (ssga.com)
  • the argument is also strong when an experienced fixed income index manager has an investment process that adds value and can effectively reduce the cost of indexing. (ssga.com)
  • A comprehensive assessment of noteworthy trends shaping the global investment risk environment and our portfolio allocations. (morganstanley.com)
  • Jim Caron, Co-Lead Global Portfolio Manager and Co-Chief Investment Officer of the Global Balanced Risk Control (GBaR) Team, shares his macro thematic views on key market drivers. (morganstanley.com)
  • All of our 250+ investment professionals are responsible for incorporating sustainability related risk and opportunity assessments into their work. (esgclarity-intelligence.com)
  • The discussion was led by our global energy analyst, Neil Millar and our Co-Head of Sustainable Investment & ESG, Jennifer Anderson. (esgclarity-intelligence.com)
  • The Lazard team gave an investment perspective on how the evolving dynamics of the energy transition are impacting the cost of capital for companies in the sector, the frameworks we use to factor in a price for climate change through carbon pricing and the risk of stranded assets under different carbon pricing scenarios. (esgclarity-intelligence.com)
  • To guard against groupthink and broaden our horizon, we welcomed six distinguished invited speakers, listened to fresh ideas from our newest class of MBAs and PhDs, and engaged in active debate with our Global Advisory Board and among our investment professionals from around the globe. (pimco.com)
  • With a local investment team in Asia since 1987, and having more recently established an office in Shanghai, we have been able to accumulate extensive local knowledge and build long-term relationships with companies, suppliers, competitors and industry experts. (troweprice.com)
  • The "two‐dimensional" investment challenge of balancing risk and return has got much trickier as managers try to balance a "third dimension" in the form of ESG and sustainability commitments. (oliverwyman.com)
  • As annuity sales soar (up 27% YoY in the US in Q3), we expect asset managers to once again push out their own investment‐oriented income innovations, such as capital markets solutions to approximate annuity exposures, mortality credit pools, or products that combine managed drawdown solutions with deferred income annuities. (oliverwyman.com)
  • With over 300 global investment professionals positioned in local markets, and a flexible capital base, we can provide solutions across a range of private asset classes. (barings.com)
  • With offices on four continents, we have the global perspective and local presence to uncover and provide access to a superior range of investment opportunities. (barings.com)
  • Global Markets Conference Our highly anticipated annual Global Markets Conference touches on relevant hot topics spanning global politics, economics, investment, sustainable finance and digital transformation. (cib.bnpparibas)
  • Other teams may hold different views and make different investment decisions. (wellington.com)
  • We believe it is vital to incorporate ESG analysis into the investment process to mitigate risk and improve returns. (hermes-investment.com)
  • We consider ESG in our investment decisions for each security and we also analyse portfolio-level ESG risk relative to the benchmark. (hermes-investment.com)
  • Yet the firm's reach is very much global, with an even split of assets and the 64 credit investment professionals (of 12 nationalities) between the US and Europe. (thehedgefundjournal.com)
  • His ambition to "create a tier one global sub-investment grade credit manager which can deliver solutions to clients across the capital structure", has now been attained - but it has taken 15 years to get there. (thehedgefundjournal.com)
  • We debated key trends across global economies, policies, and investment sectors, in discussions that ultimately inform our outlook for the coming year along with high-level portfolio strategy (for more details on our forum process, please watch this behind-the-scenes video ). (pimco.com.sg)
  • Similarly, at a global level, you can track EEM vs. SPY or, in fixed income, junk bonds (JNK) vs. investment-grade debt (LQD) or emerging market debt (EMB) vs. U.S. debt (AGG). (blogspot.com)
  • He started his career as Global Markets Analyst in 2000. (opalesque.com)
  • An asset manager with broad active and indexed capabilities across fixed income sectors and geographies can allocate to sources of risk and return from various markets to fulfill unique client objectives. (ssga.com)
  • At State Street Global Advisors, our index process does not concede to blindly attempting to replicate as much of the benchmark as possible - it is possible to deliver reliable performance by tracking results in credit markets within an indexing framework. (ssga.com)
  • Wide trading ranges in global interest rate markets in particular reflect the swings in prevailing expectations for central bank policy. (capitalgroup.com)
  • A monthly outlook for global fixed income markets, including an in-depth review of key sectors. (morganstanley.com)
  • 1 But the global and domestic bond markets are notoriously opaque. (advisorperspectives.com)
  • The global economy and financial markets could be entering a new era of potentially radical change. (pimco.com)
  • While there's still a path to a relatively benign outcome for the global economy and markets, it's a narrow and difficult path, with stretched valuations leaving little room for error. (pimco.com)
  • Low equilibrium policy rates should anchor global fixed income markets. (pimco.com)
  • Ten years after the financial crisis, the global economy and financial markets could be entering a new era of potentially radical change that will make the next decade look very different from the last. (pimco.com)
  • Earlier in May we held PIMCO's annual Secular Forum, and as always our focus was to identify the key economic and political forces that will shape the global economy and financial markets over the next three to five years. (pimco.com)
  • Our outlook for the global economy and markets over the next year. (pimco.com)
  • Public fixed-income markets could be the first stop on that journey, particularly if default expectations remain reasonable. (moneyletter.com)
  • Investing worldwide, we aim to achieve strong absolute returns within global, liquid credit markets regardless of wider fixed-income conditions. (hermes-investment.com)
  • Traditionally, the ESG corporate focus has centered around how management teams evaluate and manage ESG risks and opportunities. (fundssociety.com)
  • Even so, compelling idiosyncratic opportunities remain as improved compensation can help balance macro uncertainty. (capitalgroup.com)
  • A multi-sector fixed income strategy can provide access to opportunities in high yield (HY), while being diversified across many market segments, including IG corporate credit, floating-rate loans, and securitized products. (advisorperspectives.com)
  • All essential to our fundamental, bottom‑up research designed to seek out the best risk-reward opportunities. (troweprice.com)
  • An over reliance on backward-looking ESG scores is a flawed way to manage risks and capture opportunities. (ninetyone.com)
  • In this interview-style podcast, we offer insight into where our global teams are seeing risks and opportunities today. (barings.com)
  • The strategy's unconstrained approach provides the flexibility to allocate across these fixed income sectors and seek the best ideas through bottom-up security selection globally. (morganstanley.com)
  • The discussion has evolved over time, and one of the most enduring questions we field is whether active management or indexing makes more sense for certain fixed income sectors, and for the asset class as a whole. (ssga.com)
  • However, as the asset class has matured the concentration risk from these two sectors has been mitigated by larger weightings of consumer goods/staples, industrials, infrastructure and utilities. (ubs.com)
  • Through top-down analysis, we establish our risk appetite and the return prospects of different regions and sectors. (hermes-investment.com)
  • We then allocate our risk budget across geographies, sectors and credit quality. (hermes-investment.com)
  • Finally and more recently, rising tensions in global trade and, in many countries, a shift in political stance away from the center ground is creating heightened uncertainty over the outlook for global growth. (ubs.com)
  • While valuations have broadly improved, we remain measured in our risk posture given the rising uncertainty in the global outlook. (capitalgroup.com)
  • In addition, starting yields for many credit-related assets are noteworthy, though valuations may still cheapen given elevated recession risks in the near-term. (capitalgroup.com)
  • Managers are less concerned about the risks of a recession in Europe. (russellinvestments.com)
  • However, managers are relatively untroubled by the risk of a recession in Europe. (russellinvestments.com)
  • Back then, we prognosticated that over the longer-term horizon, the global economy would undergo five significant pivots in the direction and scope of monetary, fiscal, trade, geopolitical and exchange rate policies. (pimco.com)
  • Geopolitical risk has returned as a key consideration for asset allocators, with war in Ukraine accelerating the move to a multi-polar world, while also speeding up energy policy shifts. (ninetyone.com)
  • Other solutions, including tailored mixes of extractive/non-extractive commodities and precious metals, and even baskets of levered, FX‐hedged global real return bonds may gain prominence. (oliverwyman.com)
  • We aim to be compensated for the risk we take, and to balance the risk and return trade-off. (ssga.com)
  • Certainly, the scale of downside risks that would be posed by higher yields has shifted in the last decade. (ubs.com)
  • As the chart in exhibit 1 illustrates, the effect of asset purchas- es conducted by central banks and investor demand for income have combined to depress yields close to all-time lows. (ubs.com)
  • This move predated the sharp move higher in yields in the fixed income market by two weeks. (pimco.com)
  • Risk premiums and yields don't reflect potential downside scenarios, in our view, which warrants caution and a rigorous approach to portfolio construction. (pimco.com.sg)
  • Fortunately, lending and underwriting standards, particularly in the mortgage-backed securities market, improved meaningfully in the years since the global financial crisis. (fundssociety.com)
  • Market expertise is required for both indexed and active fixed income investing. (ssga.com)
  • But given the multi-dimensional nature of the bond market, it is a mistake - and major one at that - to treat fixed income as one big homogenous asset class or category. (advisorperspectives.com)
  • 7 As for U.S. bonds, J. P. Morgan fixed income research states that the Agg captures only 49% of the U.S. bond market - a woefully incomplete picture. (advisorperspectives.com)
  • The market is currently pricing in recessions across a range of global economies, particularly in Europe, with the energy crisis coming through this winter, and even the US. (janushenderson.com)
  • Our role is to look for places where there is a risk premium, and where we understand the underlying economic drivers of returns in a range of market environments and in different situations. (janushenderson.com)
  • Take EM corporate debt, which has grown out of the shadows of the EM Sovereign / Hard-Currency bond market, has expanded significantly since the global financial crisis. (ubs.com)
  • A revolution is taking place in the fixed income market. (cib.bnpparibas)
  • We aim to generate positive returns - and risk-adjusted alpha - regardless of market conditions. (hermes-investment.com)
  • We believe that global, relative-value investing throughout the capital structures of issuers can deliver strong returns through the market cycle. (hermes-investment.com)
  • We agreed that these recent political and market developments are relevant for the cyclical outlook because they have tightened global financial conditions and increased political and economic uncertainties, which are all likely to damp corporate and consumer "animal spirits" around the world. (pimco.co.uk)
  • While the exacerbating factor may have been idiosyncratic in nature, there are a few important structural challenges in the market which have been underlying contributors to funding dislocations. (jpmorgan.com)
  • Global rates in turn followed UK gilts higher while risk assets struggled. (capitalgroup.com)
  • This change will require senior managers to develop short-medium and long-term actions to this address this risk appropriately. (esgclarity-intelligence.com)
  • Securitized fixed income is unique in that idiosyncratic risk in individual loans is diversified away, necessitating a more holistic focus on how lending and underwriting standards, and broader social factors, impact security cash flow. (fundssociety.com)
  • At an individual company level, detailed bottom‐up research will help capture idiosyncratic factors, but it won't be enough. (oliverwyman.com)
  • In the latest FX Quarterly, our strategists highlight the key factors driving global economies. (bbh.com)
  • The various regulatory rules (LCR, SLR, CCAR, GSIB) serve as binding constraints to different parts of the intermediation process which limit distributional efficiencies and allows for idiosyncratic factors to have a disproportionate impact. (jpmorgan.com)
  • Family History-Wide Association Study ('FamWAS') for Identifying Clinical and Environmental Risk Factors for Common Chronic Diseases. (cdc.gov)
  • which is compared to the average S&P500 downside risk of 15-17 per cent (Dalibar Annual Report). (hedgeweek.com)
  • Each alpha model can respond to a combination of multiple signals.The risk model defines common factor risks, specifically yield curve risk and idiosyncratic risk, and takes account of the relationship among different securities. (wallstreetandtech.com)
  • When Goldman Sachs came through the financial crisis of 2008 with losses far smaller than those of rival banks, it was the firm's risk management system - SecDb (Securities DataBase) that was held accountable. (efinancialcareers.hk)
  • We aim to identify issuers with attractive credit risks and determine which securities in their capital structures provide superior relative value. (hermes-investment.com)
  • FamWAS can examine traits not previously studied in association with family history and uncover trait overlap, highlighting a putative shared mechanism by which family history influences disease risk. (cdc.gov)
  • The team is led by experienced partners that, in many cases, have been at Walleye since the firm's inception. (walleyecapital.com)
  • The firm's sourcing team is comprised of highly experienced individuals continuously seeking to add new and complementary sources of alpha through both external managed accounts and internal portfolio managers. (walleyecapital.com)
  • Global economic momentum is still shifting away from advanced western economies, and revenue growth remains correlated to GDP growth. (ninetyone.com)
  • Our risk model is constructed around fundamentally driven quantitative methods, rather than pure statistical methods. (wallstreetandtech.com)
  • The share of new loans accounted for by the least credit worthy groups dropped slightly while declines in the middle group accounted for the rising share among the best credit risks. (indexologyblog.com)
  • Source: Bloomberg Barclays Global Aggregate index, as at 30 April 2019. (ubs.com)
  • This could come in different flavors: radical income and wealth redistribution, more aggressive protectionism, nationalization of key companies or even industries, or attacks on central bank independence. (pimco.com)
  • The key outcome of the board's workshop was the Board's decision to elevate energy transition policy from an emerging risk to a principal risk to the business. (esgclarity-intelligence.com)
  • This ranges from the need for many governments to spend more in areas such as defence, energy transition and income inequality as well as a willingness to use public balance sheets to dampen the impact of shocks. (wellington.com)
  • By managing risk at every stage of the process and paying close attention to the correlations between asset classes, the individuals risks within the portfolio can be blended optimally to decrease the overall risk of the portfolio and ensure no single risk dominates. (morganstanley.com)
  • Although Welsh chairs a committee that assigns annual risk limits to individual portfolio managers, exceptions can be made. (efinancialcareers.hk)
  • Most managers believe that current spreads somewhat compensate for potential risks (55%) with fewer managers either being outright comfortable or outright uncomfortable than last quarter. (russellinvestments.com)
  • We have merged our High Yield and Loan analysts to create a team of industry-focused analysts who are product-neutral and who the portfolio managers can leverage off" explains Forbes-Nixon. (thehedgefundjournal.com)
  • These secular themes appear to be playing out over the cyclical horizon as well: Much of the global economy has transitioned quickly from an early cycle recovery to a mid-cycle expansion, necessitating a faster policy shift from the extraordinarily easy conditions that prevailed in 2020 and 2021, in our view. (pimco.com.sg)
  • This means that they formulate trade ideas on a longer time scale but have to manage risk on a shorter horizon. (blogspot.com)
  • The team seeks to construct a portfolio with less sensitivity to interest rate movements and the potential to capture positive returns across varying interest rate environments. (morganstanley.com)
  • Just as the correlation between stocks and bonds varies over time depending on changes in macroeconomic variables and investor risk appetite, the real duration of gold may also change in the future). (pimco.com)
  • The team's active approach provides not only flexible asset allocation between the sleeves of fixed income, but also the ability, via bottom-up security selection, to own what they believe are the best bonds in each segment while avoiding the idiosyncratic risks inherent in a passive approach. (morganstanley.com)
  • According to CUSIP Global Services, there were 515,000 unique corporate bonds in 2021. (advisorperspectives.com)
  • Our global presence and longstanding expertise allows us to evaluate and capture the yield potential of illiquid and less liquid credit-based investments. (barings.com)
  • Our team secures access to investments across the risk spectrum and around the globe, applying an active management approach designed to maximize each asset's potential. (barings.com)
  • Because we're trading fixed income, we often use algorithms related to fitting the yield curves of different countries. (wallstreetandtech.com)
  • We also set out the idiosyncratic risks for the major EM countries given changes in the political and economic landscape. (bbh.com)
  • MMB's Health Trends global survey of 226 insurers across 56 countries identified five key trends shaping employer-provided health benefits. (mercer.com)
  • In the U.S., Canada, and the U.K., employment and wage subsidy programs implemented during the pandemic to support household incomes and consumer spending expired in the third quarter after becoming less generous throughout the year, while similar programs across European countries expired at year-end. (pimco.com.sg)
  • Peak fiscal policy support, and therefore peak real GDP growth, was likely realized in 2021, and the global economy now appears to be rapidly progressing toward late-cycle dynamics. (pimco.com.sg)
  • Our algorithms can be divided into three categories: alpha-generation models, risk models and transaction cost models, with some optimization to combine these three inputs. (wallstreetandtech.com)
  • For some, like insurance companies and defined benefit pension schemes, the priority may be risk-minimization rather than benchmark outperformance. (ssga.com)
  • Introducing a new five-factor model of the global, top-down determinants of foreign-exchange returns. (nb.com)