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Time for a new playbook on bonds
Is it time to add to fixed income allocations? Multi-Asset Strategist Adam Berger and Fixed Income Strategist Amar Reganti offer their views, as well as thoughts on specific areas of opportunity.
Article
2024-05-31
Climate resiliency factor: Helping asset owners go “long” climate change
We aim to offer asset owners an intuitive way to integrate climate risks into their portfolios and shift their expected return profile for better potential outcomes.
Article
2024-05-31
EM equities: Can they prove the doubters wrong?
Multi-Asset Strategist Adam Berger offers six reasons that EM equity performance could be much more compelling in the decade ahead, from attractive valuations to economic tailwinds to mean reversion in the US dollar.
Article
2024-05-31
Blue bonds: long-awaited innovation or yet to make a splash?
Blue bonds – which aim to support projects related to ocean conservation – are on the rise. How effective are they and what do investors need to know before they invest?
Article
2024-05-31
A guide to ESG materiality assessments
We continue our "ESG insights for private companies" series by exploring ESG materiality assessments, including why they are important and how to conduct one for your private company.
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Article
2024-05-31
4 reasons why European investors may benefit from going global
Bonds are looking increasingly attractive, but a new, more volatile, normal means investors with a home bias may wish to revisit portfolios. An inconsistent policy landscape and lower hedging costs are just some of the reasons why European investors in particular may benefit from going global.
Article
2024-05-31
Will emerging Asia leapfrog the energy transition?
Decarbonizing while maintaining economic growth presents tremendous challenges for developing countries in Asia. Is technological innovation the solution?
Article
2024-05-31
Is the long-awaited change in Japan’s fortunes finally materialising?
Portfolio Manager Dan Maguire explores why Japan may finally be exiting deflation and assesses the opportunities this structural change could create for small- and mid-cap equities.
Article
2024-04-30
Uncovering opportunities in health care
Our experts analyze the ways in which innovation, digitization, and pandemic recovery come together to brighten the outlook for the health care sector.
Article
2024-04-30
Putting the global economy to the test
With economic and market fault lines emerging as a result of higher interest rates, members of our Investment Strategy team reassess the investment landscape and offer their views on equities, fixed income, and commodities.
Article
2023-10-31
Cybersecurity for private companies
We highlight today's rising cybersecurity risks, explore how they impact private companies, discuss key regulatory considerations, and share best practices for companies facing these threats.
Article
2024-04-30
Private biotech: Innovation amid disruption
We explore the state of the private biotech market, highlight key areas of innovation, and share three themes we expect to continue.
Article
2024-04-30
Crypto innovation enables new business models
Lead Crypto Asset Strategist Yaro Pan outlines how the crypto ecosystem has expanded and analyzes how crypto technology could revolutionize business models.
Article
2024-03-31
The value in valuing employees
Companies able to adapt and respond to challenges in the labor market will find themselves well positioned for the future, say Equity Portfolio Managers Yolanda Courtines and Mark Mandel.
Article
2024-03-31
Navigating the opportunities and challenges of the energy transition
Two of our climate- and energy-focused investment professionals discuss what the low-carbon transition may look like and how investors can think about the challenges and opportunities it represents.
Article
2024-03-31
How can impact investing help address the water scarcity challenge?
In acknowledgement of World Water Day, Louise Kooy-Henckel, Joy Perry and Paul Skinner highlight impact investing can help to address the world's water and sanitation crises.
Article
2024-03-31
The allocator’s perspective: three key decisions on EM equities
How can investors best access opportunities within an improving outlook for emerging market equities? Natasha Brook-Walters, co-head of iStrat, shares three key decision points for allocators.
Article
2024-03-31
Using market-implied regimes to help build more resilient portfolios
Markets may fluctuate between different regimes, but how exactly should those regimes be defined? Our iStrat Team offers research on their market behavior-based approach and explains how it may aid in constructing portfolios that are better able to withstand the ups and downs of different environments.
Article
2024-03-31
Assessing the impact of climate resilience
Oyin Oduya and Louisa Boltz discuss the case for impact solutions focused on climate adaptation and share high-level guidelines to help overcome the associated measurement challenge.
Article
2024-02-29
Thematic investing focus: The education imperative
Education is poised for transformation — and set to see a decade of spending and growth we believe will be unmatched by any since the post-World War II boom.
Article
2024-03-31
What does the new macro regime mean for investors?
In this Q&A with two senior market practitioners we explore what the new macro regime means for investors and what to expect next.
Article
2024-03-31
The churning tides of portfolio liquidity: How to avoid being left high and dry
Markets have sent asset owners some strong reminders of the need to think about liquidity risk across a portfolio and to plan for uncertainty. To help, Multi-Asset Strategist Adam Berger proposes a framework based on the intended uses and sources of liquidity.
Article
2024-02-29
Fintech regulation: Geopolitics, ESG, and crypto
Discover how fintech’s growing role as a national strategic imperative impacts regulations, the effect of ESG on regulation, and the specific need for regulation in crypto markets.
Article
2024-02-29
European credit: seeking to make the most of the new market regime
Fixed Income Portfolio Manager Derek Hynes and Investment Specialist Jillian Rooney assess why the new market regime is creating potentially compelling opportunities in the European credit market.
Article
2024-02-29
The denominator effect: Thoughts on the rise in private equity allocations
The sharp drop in public markets has left many asset owners with above-target exposure to private assets, raising a number of governance questions. Multi-Asset Strategist Adam Berger considers the likely responses and their potential pros and cons.
Article
2024-02-29
Private equity market in 2023
In the first episode of WellSaid Season 2, Co-Head of Private Investing Michael Carmen joins host Thomas Mucha to share his constructive outlook for today's rapidly evolving private market landscape. In addition, they discuss the role of ESG in privates, how Wellington collaborates with entrepreneurs, and much more.
Article
2024-02-29
Why investing in themes for EM equities may reap rewards
Portfolio Manager Dáire Dunne outlines why he is increasingly optimistic about the potential opportunities within select EM equity themes this year.
Article
2024-02-29
China internet: Identifying opportunities amid economic reopening
China’s re-opening and economic recovery from its zero-COVID policy has bolstered our optimism in Chinese internet companies.
Article
2023-12-31
The role of ESG in fintech
Global Industry Analyst Matt Ross and Portfolio Manager Matt Lipton explore the role of ESG in fintech in this clip from their WellSaid podcast episode.
Article
2024-01-31
Multi-Asset Outlook — A rocky road to recovery in 2023
Markets may be jumping the gun when it comes to expectations for a policy pivot and the likely risk-asset rewards. Members of our Investment Strategy team still see bumps in the economic road, though their outlook has brightened a bit when it comes to China and other emerging markets.
Article
2024-07-31
Small-cap value: Strong past, bright future?
While equity markets have had a challenging recent past, history teaches us that there may be several reasons to be optimistic about small-cap value.
Article
2024-01-31
Thematic investing focus: The future of food
The global food system has reached a tipping point and change is coming, creating investment opportunities aided by demographic, policy, and innovation tailwinds.
Article
2024-01-31
Navigating the new global economy in 2023
This executive summary distills the points of view of several of our 2023 Outlook authors. Discover the risks and opportunities they see as we enter a new economic and market regime.
Article
2023-12-31
Integrating climate change into capital market assumptions: our approach and findings
Members of our Investment Strategy team explain how they are incorporating climate-related inputs, including physical and transition risks, into their capital market assumptions and outline the impact of these changes at the asset-class level.
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Article
2024-01-31
Health care outlook for 2023
Looking ahead to 2023, members of our health care team see meaningful innovation, supportive valuations, and a benign political and regulatory backdrop across biopharma, medical tech, and health care services sectors.
Article
2023-12-31
China equity in 2023: Year of the stock picker
Despite the potential risks of investing in China equity, Equity Portfolio Manager Bo Meunier believes there are attractive opportunities for patient, discerning stock pickers.
Article
2023-12-31
Climate mapping in action: Investment case studies
We describe our Climate Exposure Risk Application (CERA), which can help our investment teams visualize and quantify physical climate risks.
Article
2023-12-31
Human capital management for private companies
We discuss why effective people management is critical for private companies and outline four strategic focus areas that can help companies navigate evolving employee needs, regulatory changes, and investor expectations.
Article
2023-12-31
What’s next for infrastructure?
Portfolio Manager Tom Levering and Global Industry Analyst Tim Casaletto explore the outlook for infrastructure assets in 2023 across each of the key areas.
Article
2023-12-31
Semiconductor industry faces near-term headwinds, long-term growth
Global Industry Analyst Eunhak Bae analyzes short-term headwinds and long-term opportunities in the semiconductor industry.
Article
2023-12-31
In a new era for interest rates, can hedge funds fill the role of fixed income?
Hedge funds could be valuable building blocks for a fixed income substitute portfolio, but how should the portfolio be constructed? Members of our Fundamental Factor Team share their views.
Article
2023-11-30
China’s economy: Poised to exceed expectations in 2023
With the bar set so low for China's economy, Macro Strategist Santiago Millan thinks it won't take much for an upside surprise in 2023.
Article
2023-12-31
Why Europe could surprise in 2023
Eoin O’Callaghan and John Butler discuss the contrasting prospects of the Euro Area and the UK and why 2023 could bring positive surprises in the region.
Article
2023-12-31
Private equity outlook: Why we see a buyers’ market ahead
Co-Head of Private Investments Michael Carmen shares his outlook for the private equity market, highlighting today's normalizing multiples, continued innovation, and, in a number of cases, fewer competitors for the most attractive deals.
Article
2023-12-31
Private credit in 2023: The benefits of a bear market?
We explore conditions in investment-grade private credit and go deeper on how today’s challenging overall market landscape could fuel opportunities for investors.
Article
2023-12-31
Opportunity in disguise: Why bad news may be good for alternatives in 2023
Multi-Asset Strategists Nick Samouilhan and Adam Berger explain how alternative investments may help allocators make tailwinds out of macro and market headwinds in the year ahead.
Article
2023-12-31
Focusing on value amid rising global challenges and opportunities
Our Sustainable Investing (SI) Research Team offers a high-level view of 2023 research and engagement priorities.
Article
2023-12-31
Five key ESG topics for private companies in 2023
Our ESG for Private Investments Team explores five critical ESG topics for private companies in the year ahead.
Article
2023-12-31
Thematic investing focus: The transportation revolution has arrived
New technology and environmental concerns are creating a disruptive force in the transportation sector, leading to supply-chain investments and a host of new addressable markets.
Article
2023-11-30
Harnessing the power of engagement in stewardship investing
Equity Portfolio Manager Yolanda Courtines explores why company engagement is a key component of successful stewardship investing.
Article
2023-12-31
Have we reached the end of a tech era?
Thematic Strategist Trevor Noren explores how active management and a global lens could provide tech investors with essential edges moving forward.
Article
2023-11-30
How to find potential in volatile European high-yield markets?
Fixed Income Portfolio Manager Konstantin Leidman discusses why European high-yield investors need to be ready for both further volatility and the emergence of new opportunities.
Article
2023-12-31
Multi-Asset Outlook — Higher rates for longer: What does it mean for markets?
For central banks, the inflation fight is on, but the policy and market responses will vary in the coming months. Nanette Abuhoff Jacobson and Supriya Menon discuss the implications for equities, bonds, and commodities.
Article
2023-11-30
Advancing stewardship on biodiversity: Engagement examples
Members of our ESG Research Team share their approach to and examples of engagements on the financial risks of biodiversity.
Article
2023-12-31
Biodiversity: Why investors should take note
With scientists now broadly agreeing on the risks posed by accelerating biodiversity loss, Chris Goolgasian and Jenny Xie assess implications for investors and steps they can take.
Article
2023-12-31
2023: The year of disinflation for the US economy
In the coming year, US Macro Strategist Juhi Dhawan expects to see inflation begin to decline, the economy adjust to higher interest rates, and labor markets feel the pain of restrictive Fed policy.
Article
2023-12-31
Geopolitical outlook: Shifting policies, structural advantages?
Geopolitical Strategist Thomas Mucha and Macro Strategist Santiago Millán look at five geopolitical themes they believe investors should watch in 2023.
Article
2023-12-31
Commodities outlook: Near-term uncertainties; long-term opportunities
Members of our Commodities Team describe the micro and macro, cyclical and structural tensions that we expect to drive the asset class in 2023.
Article
2023-12-31
Pivot points: Five portfolio positioning ideas for the new market regime
Multi-Asset Strategist Adam Berger looks at five ways in which the world may be very different in the coming decade and how they could influence the next wave of investment winners.
Article
2023-12-31
Thematic investing: Long-term thinking for a short-term world
With economic conditions expected to remain volatile in the coming year, members of our Investment Strategy team suggest that thematic allocations may help reduce the importance of the cycle to portfolio returns.
Article
2023-12-31
The allocator’s landscape: Three areas of attention for 2023
Natasha Brook-Walters, Co-Head of Investment Strategy, discusses downside mitigation given the shifting equity/bond correlation, the impact of cyclical and macro volatility, and opportunities to position for long-term change.
Article
2023-12-31
Actively supporting the decarbonisation of utilities
Why actively supporting the decarbonisation of utilities offers the potential for better long-term outcomes from both a net-zero and value-creation perspective.
Article
2023-11-30
High-yield bonds in 2023: Fortune favours the patient
Amid ongoing dislocation in the high-yield market, Fixed Income Portfolio Manager Konstantin Leidman sees opportunities for investors to take advantage of potentially attractive valuations.
Article
2023-12-31
Emerging markets debt outlook: A glass half full or half empty?
Against a still-challenging global backdrop for emerging markets, Macro Strategist Gillian Edgeworth highlights opportunities created by extreme credit spread dispersion across individual countries.
Article
2023-12-31
Equity allocation ideas after a year of factor extremes
Members of our Fundamental Factor Team discuss the role of defensive allocations as a complement to growth and value, the improved stock-picking environment, and the need for macro stress tests, among other topics.
Article
2023-12-31
EM equity in 2023: Will the longest bear market in history continue?
We explore three key considerations for EM investors in today’s challenging environment and highlight potential winners and losers in 2023.
Article
2023-12-31
Fintech outlook for 2023: The trends separating the winners and losers
Our fintech investors delve into high-conviction ideas for the year ahead — including embedded finance, buy-now-pay later, and digital assets — and highlight the power of incumbency amid today's increased volatility and dispersion.
Article
2023-12-31
Investing in ESG leaders with a stewardship lens
The value of strong corporate stewardship is gaining wider recognition across the investment industry. When companies are led by an engaged board and a strong management team, allocate capital wisely for the long term and act in the best interest of all stakeholders, they have greater potential to’reinforce their competitive advantage and enhance returns over time.
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Article
2023-06-30
2023 Macro and rates outlook: Goodbye easy money, hello regime change
Macro Strategist John Butler highlights the impact of macroeconomic "regime change" on global inflation and interest rates, with potential implications for investors.
Article
2023-12-31
Transformative times for European energy infrastructure
Europe’s current energy supply crisis creates a significant tailwind for the European utility sector, but where are the investment opportunities?
Article
2023-10-31
Equity investing with a thematic lens: Three game changers for 2023
Head of Investment Research Mary Pryshlak and Equity Portfolio Manager Tim Manning highlight their strongest convictions across global equity markets heading into 2023.
Article
2023-12-31
Digital transformation in financial services continues
We highlight the fintech innovations driving the digital transformation and disruption of financial services.
Article
2023-10-31
Credit market outlook: Partly sunny with a chance of good value
In his 2023 credit market outlook, Fixed Income Portfolio Manager Rob Burn highlights some potentially attractive opportunities in the wake of this year's market sell-off.
Article
2023-12-31
Measuring impact in venture capital
We highlight why venture capital matters to impact investors and how to authentically measure and manage impact in this asset class.
Article
2023-10-31
After the UK sell-off: what’s next for global markets and investors?
Co-Head of Investment Strategy Natasha Brook-Walters and Head of Macro Strategy John Butler discuss the implications of the recent sell-off in UK markets for global markets and investors.
Article
2022-12-30
UK in the eye of the storm: which countries might be next?
Macro Strategist John Butler provides his latest take on what's happening in the UK and its broader global implications.
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Article
2022-12-31
The pivotal role of stewardship in creating lasting value
Yolanda Courtines and Alex Davis share two case studies that highlight the pivotal role of stewardship in creating lasting value.
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Article
2023-10-31
Thematic investing focus: The accelerating drive for financial inclusion
The global effort to expand access to financial services is getting a boost thanks to the digitalization trend and the growing consumer acceptance of technology, creating a range of investment opportunities.
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Article
2023-09-30
Monthly Market Snapshot: August 2022
A monthly update on equity, fixed income, currency, and commodity markets.
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Article
2022-11-15
Wanted: A better definition of thematic investing
Multi-Asset Portfolio Manager Brian Garvey and colleague Manny Hunjan believe the prevailing definition of thematic investing is overly narrow and offer a potential solution.
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Article
2023-09-20
The power of capital to drive change
Jean Hynes highlights the power that science and innovation — backed by research and capital — have to solve some of the world's most pressing issues.
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Article
2023-10-31
The road less traveled: An insurer’s path to investing in alternatives
Insurance Multi-Asset Strategist Tim Antonelli lays out a sturdy yet flexible framework to help global insurers navigate the alternative investments space.
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Article
2023-09-30
A lesson in climate resilience: Why China’s recent heat wave wasn’t worse
See why Hong Kong-based Macro Strategist Santiago Millán believes China's investments in climate resilience can be a lesson for the rest of the world.
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Article
2023-09-30
A critical role for climate-focused tech capital
Greg Wasserman and Molly Breiner examine the critical role that climate-focused tech capital can play in addressing climate change.
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Article
2023-09-30
The Inflation Reduction Act: A big deal for the US economy
US Macro Strategist Juhi Dhawan considers the economic implications of the climate- and energy-related spending provisions in the IRA, including the potential for higher productivity.
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Article
2023-09-30
Hidden corners of sustainability-related innovation
European small-cap equities are at the forefront of sustainability-related innovation but getting exposure to those opportunities requires a combination of research, engagement and long-term mindset.
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Article
2023-06-30
Has China’s investment landscape permanently shifted?
Multi-Asset Strategist Adam Berger and Macro Strategist Santiago Millán consider key policy-related questions hanging over the Chinese market and share some near- and long-term investment views.
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Article
2023-08-31
The growing wave of disruption in financial services
Amid today's uncertainty, Portfolio Manager Matt Lipton outlines three key reasons he believes the opportunities fueled by fintech disruption will continue.
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Article
2023-08-31
Enhancing corporate sustainability: About our innovative virtual power purchase agreement
Learn about Wellington's groundbreaking renewable energy initiative, projected to match 100% of our US corporate and US employees’ home electricity usage with wind energy.
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Article
2023-08-31
High inflation and slow growth in Europe: How should investors respond?
Multi-Asset Strategist Supriya Menon explores the asset allocation implications of high inflation and slow growth in Europe.
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Article
2023-08-31
A shifting macro landscape: QE, China, and Europe
We explore the changing macro environment, highlighting the investment implications of the end of quantitative easing programs, the state of the Chinese cycle, and an evolving outlook on Europe.
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Article
2023-08-31
Why climate change matters
We explore why climate change matters in private markets, highlight the current regulatory landscape, and profile key questions to expect from public market investors.
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Article
2023-08-31
Cash-balance liabilities: A new investment framework
A cash-balance plan is very different from a traditional pension, and the differences can have a major impact on interest-rate sensitivity. With this in mind, we propose a focus on capital preservation, consistent income, and liquidity.
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Article
2023-08-31
Monthly Market Snapshot: July 2022
A monthly update on equity, fixed income, currency, and commodity markets.
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Article
2022-10-15
Emerging local debt markets: Time to wade in?
Fixed Income Portfolio Manager Michael Henry sees positive trends across ELD fundamentals, valuations, and technicals that could be tailwinds for these markets going forward.
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Article
2023-08-31
Fintech innovation: A pure play on enduring disruption
We explore why fintech merits a pure-play approach, discuss the importance of an investment team with deep industry expertise in both financial services and technology, and highlight the long-term nature of this disruption
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Article
2023-09-30
Diversity, equity, and inclusion: FAQ
We answer some of our private portfolio companies’ most frequently asked questions on diversity, equity, and inclusion.
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Article
2023-08-31
Is the commodities rally built to last?
Commodities were the only major asset class that performed well in the first half of 2022. Multi-Asset Strategist Adam Berger and Commodities Portfolio Manager David Chang consider whether there’s more upside from here.
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Article
2023-08-31
Recalibrating alternative allocations for a new market reality
As allocators cope with economic uncertainty and market volatility, Multi-Asset Strategists Cara Lafond and Adam Berger explain how alternative investments could potentially play a role in improving portfolio resilience and returns.
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Article
2023-08-31
Will the Fed send the US economy into a recession?
Multi-Asset Strategist Adam Berger and US Macro Strategist Juhi Dhawan consider the broad impact of Fed rate hikes and how asset allocators should respond.
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Article
2023-07-31
Governance best practices in public markets
For private companies approaching the public markets, we highlight the corporate governance best practices that can help pave strong relationships with public market investors.
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Article
2023-07-31
What next for the euro area after the ECB’s historic hike?
Eoin O'Callaghan and Marco Giordano explore the ECB’s likely next steps and the potential future path of inflation and growth in the euro area.
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Article
2023-07-05
Local perspectives matter: Grassroots research in emerging markets
During a recent research trip across India, our impact investing team witnessed the rapid pace of change and growth mindset that are expanding the impact opportunity set.
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Article
2023-07-31
Financial Market Review: Second quarter 2022
A quarterly update on equity, fixed income, currency, and commodity markets.
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Article
2023-01-15
Monthly Market Snapshot: June 2022
A monthly update on equity, fixed income, currency, and commodity markets.
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Article
2022-09-15
Mid-2022 ESG & Sustainability Outlook
Our Mid-2022 Sustainability Outlook provides an update on our sustainability efforts, expansion of research into the economic impacts of climate change, ESG integration and stewardship, and impact platform.
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Article
2022-12-31
Stock-based compensation and the tech sector
We explore how stock-based compensation may be creating underappreciated risks for investors, companies, and boards as we potentially enter a more challenging environment for tech stocks.
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Article
2023-07-31
Insurers: Strengthen your core in the second half
Insurance Multi-Asset Strategist Tim Antonelli shares his latest multi-asset insights for global insurers, including his view that core fixed income holdings — US interest rates and investment-grade corporate bonds — should stack up well against most risk assets in the second half of 2022.
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Article
2022-12-31
Can credit investors turn the resumption of volatility and cycles to their advantage?
Why the new volatile market regime may offer significantly more opportunities for longer-term global credit strategies.
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Article
2023-07-31
US inflation: Supply chains to the rescue?
Macro Strategist Juhi Dhawan shares her inflation outlook, including the prospects for supply-chain normalization, and her views on the market implications.
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Article
2023-07-31
Mid-2022 Inflation Outlook
We explore the current inflation environment's significant impacts on asset markets, anticipated relief in supply-chain pressures, and opportunities in commodities and enduring assets.
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Article
2023-07-31
Can hedge funds behave if fixed income doesn’t? A manager-selection view
Our Fundamental Factor Team proposes an alternative approach for analyzing hedge funds and constructing multi-manager hedge fund portfolios intended to fill the roles of fixed income.
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Article
2023-07-31
Mid-2022 Alternative Investments Outlook
As allocators cope with economic uncertainty and market volatility, Multi-Asset Strategist Cara Lafond explains how alternative investments could potentially play a role in improving portfolio resilience and returns.
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Article
2023-08-31
Mid-2022 Asset Allocation & Investment Strategy Outlook
We explore the market implications of central bank policies, rising prices, and slowing growth and offer incremental steps to improving a portfolio’s return potential.
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Article
2023-07-31
Mid-2022 Global Economic Outlook
We believe heightened geopolitical uncertainty, and the new macro environment of deglobalization, higher inflation, greater global cyclicality and volatility will disrupt and drive markets.
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Article
2023-07-31
Mid-2022 Asset Class Outlook
We offer perspectives on growth and value equities and explore ideas for shoring up your fixed income flank amid the evolving economic and market environment.
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Article
2023-07-31
Monthly Market Snapshot: May 2022
A monthly update on equity, fixed income, currency, and commodity markets.
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Article
2022-08-15
Our commitment to net zero
We share our client-centric, engagement-driven approach to net zero by 2050, including our investor toolkit and measurement processes.
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Article
2023-06-30
Sticky inflation, weaker growth: A volatile mix
As central bank policy, rising prices, and slowing growth roil the markets, Nanette Abuhoff Jacobson and Supriya Menon explore the implications for equities, bonds, and commodities.
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Article
2022-10-31
Sustainable fixed income investing comes of age
ESG integration and sustainable investing have gained considerable traction in global fixed income markets. Investment Directors Anand Dharan and Meredith Joly and Fixed Income Trader Keenan Choy discuss this ongoing trend and some of its key implications for asset allocators.
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Article
2023-06-30
Navigating an uncertain world: finding value in European high yield
Fixed Income Portfolio Manager Konstantin Leidman and Investment Specialist Jillian Rooney explore why recent spread widening has created a potentially attractive entry point into the European high-yield market.
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Article
2022-12-31
Monthly Market Snapshot: April 2022
A monthly update on equity, fixed income, currency, and commodity markets.
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Article
2022-07-15
Demystifying decumulation: A practical guide
Investors seeking a sound decumulation strategy must consider a host of variables, including risks that weren’t on the radar when they were accumulating assets. Members of our Investment Strategy team consider the interaction between portfolio withdrawals and specific characteristics of the portfolio’s realized return. They also offer thoughts on successful decumulation strategies, focusing on portfolio construction, process design, and implementation.
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Article
2023-04-30
How a diversified approach to climate return opportunities can support decarbonisation goals
Joy Perry and Ken Baumgartner explore how a diversified approach to climate return opportunities can support decarbonisation goals.
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Article
2022-09-30
Fixed income impact investing: Growth, evolution, opportunity
Members of our fixed income team share their perspectives on the growing need for impact solutions, the expanding opportunity set and the team’s focus on engagement with issuers.
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Article
2022-12-31
Financial Market Review: First quarter 2022
A quarterly review of results in the global equity, fixed income, currency, and commodity markets.
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Article
2022-10-15
How behavioural finance analysis can help unearth hidden sustainability potential
Equity Portfolio Manager Tom Horsey shares his insights in how behavioural finance analysis can help unearth hidden sustainability potential.
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Article
2023-04-30
Monthly Market Snapshot: March 2022
A monthly update on equity, fixed income, currency, and commodity markets.
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Article
2022-06-15
Climate investing: The case for a market-neutral approach
We explore why climate change is a compelling organizing principle for investing and highlight the potential benefits and risks of market-neutral implementations.
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Article
2023-04-30
Nearing the finish line: Ideas on end-state investing for corporate DB plans
As corporate plans approach their fully funded “end state,” new goals will need to be set. Members of our LDI team share their research on this transition and the required realignment of asset allocation strategies, including changes in return-seeking and liability-hedging portfolios and key liquidity considerations.
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Article
2023-04-30
Russia/Ukraine: Transformational, not transitory
Four Wellington thought leaders share their distinct individual perspectives on the short- and longer-term implications of the tragic watershed conflict between Russia and Ukraine: Geopolitical Strategist Thomas Mucha on the geopolitical backdrop; Macro Strategist John Butler on what it means for Europe; Macro Strategist Santiago Millán on the role of China; and Portfolio Manager David Chang on the commodities markets.
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Article
2022-11-30
China is not Russia: Reasons to stay invested
Equity Portfolio Manager Greg Mattiko challenges investors to look at actions rather than conjecture when considering reduced exposure to China.
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Article
2023-03-31
What does the Ukraine invasion mean for China?
Macro Strategist Santiago Millán argues that the scale and breadth of the sanctions on Russia have increased the uncertainty of investing in China across multiple dimensions. He explores the continued decoupling of China and the West.
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2022-06-30
War in Ukraine: Five observations on recent developments
Macro Strategist Gillian Edgeworth assesses recent developments in the escalating Russia/Ukraine conflict and highlights five key implications.
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2023-03-31
War and markets: What's the connection?
Amid the geopolitical turmoil and tragic humanitarian fallout of the Russia/Ukraine crisis, many investors are naturally also concerned about the negative effects the escalating conflict could have on their portfolios. With that in mind, I thought I’d provide a quick snapshot of the impacts that past wars have tended to have on asset prices.
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2023-03-31
How will war in Ukraine shift the ESG landscape?
Russia’s invasion of Ukraine has turned the spotlight on ESG in new ways. Our ESG Research Team highlights how the crisis may shape their analysis.
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2023-03-31
Commodities investing amid the Russia/Ukraine conflict
We explore how the tragic conflict between Russia and Ukraine impacts commodities markets broadly and a few key commodities in particular.
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2023-03-31
Ten more “what if” scenarios for 2022
In his latest Top of Mind session, Multi-Asset Strategist Adam Berger addressed a wide range of what-if scenarios on the minds of our clients. See what he has to say on Russia, China, cryptocurrencies, the IPO market, and many other topics in this brief article.
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2023-02-28
How will Russia’s invasion of Ukraine transform the euro area? Four potential paths
As the tragedy in Ukraine unfolds, Macro Strategist John Butler assesses possible implications of the conflict for Europe and the euro area. He outlines four potential paths.
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2023-03-31
Russia/Ukraine conflict: Five things to watch closely
Amid the ongoing turmoil of the Russia/Ukraine crisis, Global Investment Strategist Nanette Abuhoff Jacobson highlights five key areas she thinks investors should keep a watchful eye on in the weeks ahead.
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2023-03-31
For markets, it’s complicated
As markets grapple with the war in Ukraine, inflation worries, and a host of other issues, Nanette Abuhoff Jacobson and Daniel Cook offer their thoughts on the investment implications for equities, commodities, and fixed income.
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2022-10-31
Preserving funded-ratio stability in volatile markets
Faced with extreme market volatility in the early months of 2022, what can corporate DB plan sponsors do to potentially provide stability in their portfolios while still pursuing longer-term funding aspirations? Multi-Asset Strategist Amy Trainor offers thoughts on rerisking, hedge ratios, and liability-hedging and return-seeking allocations.
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2023-03-31
Geopolitical observations on Ukraine
Geopolitical Strategist Thomas Mucha integrates his observations with those of his senior-level military, intelligence and diplomatic contacts to offer insights on the potential consequences of Russia’s invasion of Ukraine.
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2023-03-31
Russia/Ukraine and the commodity challenge
With commodity inventories at multi-decade lows, is rising cross-asset class volatility all but inevitable? Leveraging insights from Wellington colleagues, Thematic Strategist Trevor Noren argues that the Russia/Ukraine crisis demonstrates why the answer is likely yes.
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2023-03-31
Mitigating drawdowns with listed infrastructure
As markets enter a potentially more volatile phase, Tom Levering and Ken Baumgartner explore whether targeted exposure to listed infrastructure could help mitigate drawdowns.
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2023-02-28
Better balance in bonds: How a factor framework and a barbell approach could help
For investors seeking diversification in their credit portfolios, members of our Fundamental Factor team propose a portfolio construction and manager selection process designed to source complementary manager alpha-generation styles and help “smooth out” the path of fixed income alpha.
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2023-02-28
Evaluating cryptocurrencies as an asset class
We explore cryptoassets’ potential as an asset class as the topic dominates the headlines.
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2023-02-28
Ukraine crisis: Understanding the broader picture
The tense Ukraine crisis has brought the US-Russia standoff to a head: Now what? Geopolitical Strategist Thomas Mucha argues this is all part of a global geopolitical pattern — “great-power” competition — that makes the Russian threat particularly dangerous. Read more.
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2023-02-28
Hedging climate risk: The best defense is a good offense
Climate risks have the potential to create a long-term return drag on investment portfolios. We suggest a straightforward approach to hedging the deleterious effects of climate change.
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2023-02-28
What if…? Contemplating five big questions for 2022
Could there be policy, inflation, or market surprises in 2022? Multi-Asset Strategist Adam Berger weighs the possibilities and the portfolio implications.
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2023-02-28
Evaluating labelled bonds: A robust framework is key
In this rapidly evolving market, we believe investors need a thoughtful approach to assessing issues’ suitability and combatting greenwashing, in order to generate real impact.
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2022-09-30
How to reposition portfolios for inflation with listed infrastructure
With the risk of structurally higher inflation increasing, Tom Levering and Ken Baumgartner assess whether allocating to listed infrastructure may help mitigate the impact of inflation.
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2023-01-31
Japan rises to the challenge of climate change
Two of our climate investors explain how Japanese companies are developing innovative solutions to protect society from the effects of climate change.
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2023-02-28
Monthly Market Snapshot: January 2022
A monthly update on equity, fixed income, currency, and commodity markets.
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2022-07-15
Effective exposure to secular trends through listed infrastructure
How an allocation to select listed infrastructure companies can offer investors long-term exposure to secular trends such as decarbonisation.
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2023-01-31
Financial Market Review: Fourth quarter 2021
A quarterly review of results in the global equity, fixed income, currency, and commodity markets.
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2022-07-15
Decarbonization and the energy transition: The next supercycle
The low-carbon transition could be the biggest capital cycle of our lifetime, fueled by massive spending and extensive infrastructure development. We break down the investment implications.
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2022-12-31
Monthly Market Snapshot: December 2021
A monthly update on equity, fixed income, currency, and commodity markets.
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2022-07-15
Annual letter from our CEO: Embracing change
In a fast-changing world, CEO Jean Hynes discusses some of the strategic initiatives our firm has undertaken to ensure that we’re aligned with and ready to support our clients’ goals for years to come.
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2023-01-01
2022 Alternative Investment Outlook
Our 2022 Alternative Investment Outlook looks at 5 areas of focus for the coming year and explores private equity markets and ESG opportunities.
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2022-12-31
2022 ESG & Sustainability Outlook
Our 2022 ESG & Sustainability Outlook previews our climate research and engagement approach for the coming year and offers investment strategy considerations.
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2022-12-31
2022 Fixed Income Outlook
Our fixed income outlook for 2022, examines our views on inflation and interest rates and the role central banks will play in the coming year.
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2022-11-15
When public and private equity converge: An allocator’s guide
Multi-Asset Strategist Cara Lafond believes the time has come to recalibrate private equity portfolios to keep up with the evolution of the equity ecosystem. She offers a case for a more holistic view of public and private allocations, a fresh look at how allocators access growth, and the use of private and crossover strategies in innovative sectors.
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2022-12-30
2022 Climate Change Investing Outlook
As the effects of climate change become more difficult to ignore, we suggest focusing on adaptation, mitigation, & engagement for 2022 climate investing plans.
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2022-12-31
ESG in 2022: Insights for private companies
We profile why ESG factors matter in private markets, explore the diverse ESG issues private companies face across industries, highlight five key areas to prioritize, and share the essential steps private companies can take to keep up with today’s evolving ESG risks and opportunities.
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2022-11-30
2022 Global Economic Outlook
Our 2022 economic outlook describes the forces we believe will shape macro & market events, including significant inflationary and geopolitical risks.
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2022-11-30
2022 Multi-Asset Outlook
In our 2022 Asset Allocation Outlook, we expect markets to focus on central bank efforts to tame inflation look at 5 post-pandemic essentials for 2022.
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2022-12-31
Roadmap to net zero
We outline a potential roadmap to help investors transition towards a net-zero emissions portfolio and highlight two strategies that may serve as potential building blocks.
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Article
2022-09-30
A credit strategy designed for all seasons
Today’s fixed income allocators face a variety of challenges. Against this backdrop, Multi-Asset Strategist Cara Lafond and Investment Directors Amar Reganti, Chris Perret, and Andrew Bayerl make the case for having an “all-weather” credit portfolio composed of carefully chosen building blocks.
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2022-11-15
Changing “weather” patterns in alternatives and climate
Multi-Asset Strategist Adam Berger offers a forecast on the future of alternative and climate-related investing, with insights on manager selection, public/private allocations, climate-aware capital market assumptions, and a range of other topics.
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2022-11-30
Tech WELLcovered: Legacy redefined
Tech innovations are breaking down barriers, enabling us all to leave legacies of progress through the ways we allocate our capital and live our lives. Join us on a journey to witness the past, experience the present, and build a better future — all while capturing tech’s pervasive investable opportunities.
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2022-11-30
Step into the metaverse
The metaverse is dominating tech headlines. Here, we explore the hardware infrastructure upgrades required to make this innovation possible and highlight the opportunities this creates for the Asia tech sector.
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2022-08-31
Update on stewardship priorities
We share an update on our 2021 stewardship priorities, including diversity, equity, and inclusion (DEI) and climate change. We also provide an update on our ESG engagement and proxy voting activity in the quarter.
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Article
2022-10-31
Setting ROAs for 2022: A guide for US corporate and public plans
How are pension plans adjusting their ROA assumptions? How do those assumptions line up with our long-term capital market assumptions? Find out in this annual update.
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2022-10-31
Five investment essentials for a post-pandemic world
As the world “gets back to business” in 2022, a cautiously optimistic outlook seems warranted. For investors, it may be a year to think thematically.
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Article
2022-11-30
After the inflection point: How the climate challenge will transform the global economy
The decarbonization commitments of countries around the world will fundamentally reshape the global economy. Members of our Central Macro Team highlight their research findings, from the effects on growth and the cost of capital to the potential for geopolitical conflict and higher inflation.
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2022-10-31
With growth and policy, which matters more: Level or change?
While macro risks may be elevated somewhat, Nanette Abuhoff Jacobson and Daniel Cook still see opportunities, including in European equities and commodities. They also argue for being selective in credit while maintaining fixed income for diversification.
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2022-03-31
Tech WELLcovered: Experience transformed
5G, AI and augmented reality will soon offer exponentially more options for experiences outside of work — with each activity personalised for your interests. Join us on a journey to witness the past, experience the present and transform the way you see the future of fun and the investable opportunities it creates.
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Article
2022-10-31
The evolution of derisking: Assessing new and time-tested liability-hedging ideas
As defined benefit plans contemplate the best path to their eventual “end state,” members of our LDI team update their liability-hedging research with a blend of traditional benchmark ideas and new opportunities to capitalize on changing market conditions and a broader investment universe.
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2022-09-30
The what, where and how of impact investing
Portfolio Managers Campe Goodman and Tara Stilwell answer essential questions on impact investing, from where to find opportunities to what it means for financial returns.
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2022-10-15
Climate conundrum: Will carbon constraints affect the pursuit of other portfolio objectives?
Members of our Fundamental Factor Team share their research on the potential for trade-offs when carbon goals are integrated into outcome-oriented, factor-based portfolios.
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2022-10-31
Toward carbon neutrality: Our approach to carbon offsets
Wellington has committed to be carbon neutral in our operations by the end of 2022. Members of our Sustainable Investing and Corporate Sustainability Teams describe our multifaceted approach to achieving that goal.
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Article
2022-10-31
Investing for the long term (in a short-term world)
With short-term behavior evident across the financial landscape, Multi-Asset Strategist Adam Berger explores the intuitive and quantifiable advantages of being more long term, and he offers seven habits that can help asset owners cultivate a long-term mindset.
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2022-09-30
The future of retirement: Aging in 2050
We explore the long-term investment trends associated with global aging through the story of Fang, a fictional Chinese retiree living in 2050.
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2022-09-30
The future of work: Why societal shifts matter
While the pandemic has accelerated existing shifts in people’s working lives, these changes may just be the start. We assess the future of work in 2030 and highlight some potential investment implications.
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2022-09-30
Chinese government bonds: How do they measure up in a multi-asset framework?
As China’s bond market continues to grow in size and liquidity, we consider the potential role the country’s government bonds can play in diversifying a broader sovereign portfolio, improving yields, and offsetting equity risk.
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2022-08-31
Investing in innovation: Disruption is everywhere
We outline our definition of innovation and answer questions about our views on the breadth and depth of the innovation opportunity, how we identify and compare disruptive companies across industries, and the importance of robust research capabilities — including a private-equity mindset and strong ESG expertise.
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2022-08-31
Adapting to climate change: Investing in the resiliency imperative
As the risks of climate change increase, so does the need to build resiliency. Members of our Climate Research Team discuss why they believe demand for climate adaptation solutions could grow exponentially, and how they think about investing in solutions for a range of climate variables, including heat, flooding, wildfires, and water scarcity.
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2022-09-30
Tangible steps to decarbonise portfolios
We explore why equity investors need to start reducing exposure to climate risk and outline a balanced approach to moving portfolios towards net zero.
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2022-09-30
Tech WELLcovered: Work reimagined
We believe today’s workplace innovations are just the beginning of a multi-decade transformation. Join us on a journey to witness the past, experience the present and reimagine how the future of work is creating investable opportunities.
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2022-08-31
Seven reasons to invest actively in EM equities
Investment Director Andrew Sharp-Paul makes his case for actively managed investment strategies, rooted in fundamental research, as the best way for investors to capitalize on the opportunity set in emerging markets equity.
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2021-12-31
Enterprise automation: Three transformative themes
We explore how automation will reshape the future of the enterprise through three transformative themes with significant investment implications.
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2022-06-30
Robots won’t take our jobs (and other reasons to be excited about factory automation)
We profile three key areas in the future of factory automation – collaborative robotics, the industrial software revolution, and the economic and social implications of automation – and explore the investment opportunities this innovation creates.
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2022-08-31
The future of youth: Education, entertainment, and relationships transformed
Through the story of Aisha, a hypothetical future teenager in India, we explore how technological disruption will transform how young people prepare for work through education, their forms of entertainment, and how they develop new relationships.
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2022-08-31
Update on key sustainability initiatives (Q2 2021)
We offer an update and mid-year outlook on key climate- and sustainability-related initiatives at the firm. We also provide an update on our ESG engagement and proxy voting activity in the quarter.
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2022-06-30
A revival in US investment spending: Implications of the Biden infrastructure plan
US Macro Strategist Juhi Dhawan discusses six key themes in the US infrastructure proposals, from shovel-ready projects to modernization of the power grid, and considers the broad economic impact and potential for unintended consequences.
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2022-08-31
People, planet, profit: investing with a stewardship mentality
An investment strategy with a long-term mindset focused on companies that weigh the interests of all stakeholders and generate strong returns on capital can potentially deliver good investment returns while helping to address ESG concerns.
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2022-07-31
Global Impact Annual Report
Improving lives and protecting the environment while delivering competitive returns are the dual goals of our impact equity and bond strategies.
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2022-04-30
Split decision: Should investors separate China from EM equities?
Many investors are contemplating whether to separate China from the rest of their emerging market equity allocation. Members of our Investment Strategy Group argue that the key decision point is not China’s dominance of the emerging market index, but the extent to which a standalone China allocation can be viewed as similar to an EM ex-China allocation. In this paper, they evaluate the similarity of the two allocations using a variety of metrics, from correlations to factors to sector composition.
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2022-07-31
Rethinking growth and where long/short directional strategies fit in
With allocators looking for opportunities to recalibrate their growth exposures, Multi-Asset Strategist Cara Lafond shares her “best fit” criteria for long/short directional strategies and explains why the financial sector appears to check all the boxes.
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2022-07-31
Causes and effects of climate migration: Five essential insights
Climate-driven migration will have important social, economic, and geopolitical consequences. What experiences will drive people to leave their home? Which regions are at risk of disruption? Our Future Themes research team explores this complicated issue, including potential investment implications.
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2022-06-30
Are we on the cusp of an unconstrained bond fund “renaissance”?
Portfolio Managers Brian Garvey and Brij Khurana and Investment Director Brian Doherty see unconstrained fixed income approaches, if properly implemented, as being well suited to the current (or any) market environment.
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2022-07-31
Why global insurers should take a closer look at REITs
Insurance Strategist Max Davies, Investment Director Will Lee, and Investment Specialist Ethan Sales look at the potential benefits of REITs for global insurers, plus why now may be an opportune time to consider this often unsung asset class.
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2022-07-31
Using climate science to uncover investment opportunities
Investors are increasingly aware of the risks posed by climate change, but perhaps less so of the unexpected opportunities that climate science can help uncover.
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2022-07-31