Asset class

Showing of Insights Posts
The Fed wants to crush inflation, but at what cost?
Following a higher-than-expected inflation print and the Fed's latest rate hike, Global Investment Strategist Nanette Abuhoff Jacobson considers potential implications for fixed income and equities.
Continue reading
event
Quick Take
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.
Continue reading
event
Article
2023-10-31
Drug pricing reform: A bitter pill for biopharma?
Global Industry Analyst Wen Shi considers the implications of drug price reform for biotech companies — modest in the near term, but likely negative longer term.
Continue reading
event
Quick Take
2023-01-31
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.
Continue reading
event
Article
2023-09-30
Biotech's new frontier
Global Industry Analyst Wen Shi highlights biotech's new frontier, profiling innovations like targeted protein degradation, gene therapy, and much more.
Continue reading
event
Video
2023-09-30
Monthly Market Snapshot: August 2022
A monthly update on equity, fixed income, currency, and commodity markets.
Continue reading
event
Article
2022-11-15
The Fed’s “lean, leave, then clean” strategy
US inflation could prove "stickier" than many observers think. How might that influence Fed policy into 2023? Fixed Income Portfolio Manager Jeremy Forster opines.
Continue reading
event
Quick Take
2022-12-31
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.
Continue reading
event
Article
2023-09-20
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.
Continue reading
event
Article
2023-09-30
The next generation of pharmaceutical innovation
Rebecca Sykes explores the exciting innovations she sees in the pharmaceutical industry today, including antibody drug conjugates, gene editing, obesity treatments, and much more.
Continue reading
event
Video
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.
Continue reading
event
Article
2023-09-30
India: Growth drivers are in place
Following a recent visit to India, Macro Strategist Tushar Poddar shares his take on the country's changing macro environment and its equity market.
Continue reading
event
Quick Take
2022-12-31
Sustainable fixed income: Key terms allocators should know
ESG integration versus sustainable investing: What’s the difference? We explain a few key distinctions that are important for allocators to understand.
Continue reading
event
Quick Take
2023-06-30
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.
Continue reading
event
Article
2023-09-30
The shifting equity/bond correlation: Implications for portfolio construction
Multi-Asset Strategist Nick Samouilhan looks at what's driving the change in the all-important equity/bond relationship and what can be done about it.
Continue reading
event
Quick Take
2022-12-31
What does an equity market bottom look like?
Applying a historical analysis to today's market, Multi-Asset Portfolio Manager Nick Petrucelli believes US equities have not yet found a near-term bottom.
Continue reading
event
Quick Take
2022-11-30
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.
Continue reading
event
Article
2023-06-30
Investment takeaways from the latest inflation data
With 2022's structural inflation story still very much intact, now may be a particularly opportune time for investors to add real-asset and inflation-sensitive exposures to their portfolios.
Continue reading
event
Quick Take
2022-11-30
Wellington investor survey: Global recession tops investors’ concerns
The latest Wellington investor survey shows that our investment teams are increasingly concerned about the economic cycle, with 45% seeing a global recession over the next 12 months as the most likely outcome.
Continue reading
event
Quick Take
2022-11-30
The shrinking central bank balance sheet: A credit market opportunity
With the shift in central bank policy, heightened volatility and dispersion may yield a promising environment for exploiting credit market inefficiencies.
Continue reading
event
Quick Take
2022-11-30
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.
Continue reading
event
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.
Continue reading
event
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.
Continue reading
event
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.
Continue reading
event
Article
2023-08-31
Positioning for a “pricey” recession scenario
Client Portfolio Manager Jitu Naidu and Fixed Income Strategist Amar Reganti offer portfolio positioning ideas for the potential recession scenario that may lie ahead.
Continue reading
event
Quick Take
2022-11-30
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.
Continue reading
event
Article
2023-08-31
Monthly Market Snapshot: July 2022
A monthly update on equity, fixed income, currency, and commodity markets.
Continue reading
event
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.
Continue reading
event
Article
2023-08-31
Why today’s fixed income market is fertile ground for active management
Skilled active management has potential to shine in times of increased dispersion across fixed income sectors and regions. Now may be one of those times.
Continue reading
event
Quick Take
2022-12-31
Global convertibles: Unprecedented times call for unconventional solutions
Fixed Income Portfolio Manager Michael Barry and Investment Director Raina Dunkelberger argue that global convertible bonds are well suited to today's uncertain market environment.
Continue reading
event
Quick Take
2022-11-30
Diversity, equity, and inclusion: FAQ
We answer some of our private portfolio companies’ most frequently asked questions on diversity, equity, and inclusion.
Continue reading
event
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.
Continue reading
event
Article
2023-08-31
What can history teach us about today's markets? A framework for drawing comparisons
Members of our Investment Strategy Group explain how they identify similarities to past market environments and what their approach is signaling about today's conditions.
Continue reading
event
Quick Take
2022-11-30
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
Continue reading
event
Article
2023-09-30
Fixed income: Relative value opportunities amid growth slowdown
In the face of this year's fixed income market turmoil, Fixed Income Portfolio Manager Rob Burn sees attractive opportunities for investors with longer-term time horizons.
Continue reading
event
Quick Take
2022-10-31
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.
Continue reading
event
Article
2023-08-31
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.
Continue reading
event
Article
2023-07-31
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.
Continue reading
event
Article
2023-07-31
Fed rate hikes: A tailwind for bonds?
Global Investment Strategist Nanette Abuhoff Jacobson believes higher-quality, longer-duration bonds may prove resilient even if the Fed keeps raising short-term rates into 2023.
Continue reading
event
Quick Take
2022-10-31
Fintech industry outlook in a recession
We explore the current environment for the fintech industry and highlight a few factors that show why the outlook for payments and other related subindustries may be less challenging than many may anticipate.
Continue reading
event
Quick Take
2023-07-31
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.
Continue reading
event
Article
2023-07-31
Financial Market Review: Second quarter 2022
A quarterly update on equity, fixed income, currency, and commodity markets.
Continue reading
event
Article
2023-01-15
Monthly Market Snapshot: June 2022
A monthly update on equity, fixed income, currency, and commodity markets.
Continue reading
event
Article
2022-09-15
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.
Continue reading
event
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.
Continue reading
event
Article
2023-07-31
Impact investing: Increasing needs, broadening opportunities
Members of our impact investing team, offer a brief update on our impact platform, which continues to evolve amid an expanding opportunity set in developed and emerging market equities and fixed income.
Continue reading
event
Quick Take
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.
Continue reading
event
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.
Continue reading
event
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.
Continue reading
event
Article
2023-07-31
Don’t be surprised if CLO equity surprises to the upside
Members of our fixed income team, including Portfolio Manager Alyssa Irving, believe CLO equity could be poised to outperform many other risk assets over the next few years.
Continue reading
event
Quick Take
2022-10-31
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.
Continue reading
event
Article
2023-08-31
Credit investing against a slower-growth, higher-inflation backdrop
The significant flattening of the US Treasury yield curve in recent months has some prognosticators calling for an impending US recession. Not so fast, says Fixed Income Portfolio Manager Rob Burn.
Continue reading
event
Quick Take
2022-07-31
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.
Continue reading
event
Article
2023-07-31
Using hedge funds to perform the role of fixed income: An alternative approach
Member of our Fundamental Factor Team offer a role-based framework that may help better align manager research, portfolio construction, and potential investment outcomes.
Continue reading
event
Quick Take
2022-10-31
Stepping-stone investment ideas: A bridge over troubled waters?
Multi-Asset Strategist Adam Berger offers incremental investment ideas that may help asset owners improve a portfolio's return potential.
Continue reading
event
Quick Take
2022-10-31
From autopilot to active pilot: How investors can navigate the future
President Steve Klar explains why a broader set of tools may be required to maneuver through higher volatility, changes in market structure, and the explosion in investment data.
Continue reading
event
Quick Take
2023-06-30
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.
Continue reading
event
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.
Continue reading
event
Article
2023-07-31
Sustainable fixed income investing entering the mainstream
This short piece explores the continued rise of sustainable fixed income investing and links to a more in-depth white paper on the topic.
Continue reading
event
Quick Take
2022-12-31
Global Impact Annual Report — Executive Summary
As a preview to our full annual report, we share a few key highlights from our impact platform in 2021.
Continue reading
event
Quick Take
2023-07-31
Credit and equity risk back on speaking terms, but will it last?
Following their uncharacteristic rift and recent reconciliation, Director of Wellington’s Global Derivatives Group Gordy Lawrence considers whether equity volatility and credits spreads are likely to remain in harmony.
Continue reading
event
Quick Take
2022-10-31
Global Impact Annual Report
Discover how we evolved our impact platform in 2021 and track the progress of select portfolio companies and issuers.
Continue reading
event
Report
2023-06-30
Monthly Market Snapshot: May 2022
A monthly update on equity, fixed income, currency, and commodity markets.
Continue reading
event
Article
2022-08-15
Closing the return gap: A new set of “stepping stone” ideas
Multi-Asset Strategist Adam Berger offers incremental, flexible investment ideas that can be combined to help asset owners pursue their goals amid declining capital market return expectations.
Continue reading
event
Whitepaper
2023-06-30
Wellington Euro High Yield Bond Fund: Seeking investment opportunities in out-of-favour areas of the market
Investment Director Susan Chacko discuss why the European high-yield market can be an interesting asset class for clients, and they outline the philosophy of the Wellington Euro High Yield Bond Fund.
Continue reading
event
Video
2023-05-31
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.
Continue reading
event
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.
Continue reading
event
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.
Continue reading
event
Article
2023-06-30
A transition year for agency MBS?
Following a challenging period for agency MBS, members of our securitized team now see attractive opportunities in the space and believe actively managed strategies may be the best way for many investors to capitalize.
Continue reading
event
Quick Take
2022-07-31
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.
Continue reading
event
Article
2022-12-31
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.
Continue reading
event
Article
2023-05-31
Three overlooked opportunities in today’s markets
Portfolio Manager Brian Garvey highlights three large macro dislocations in today's environment that he believes the capital markets have yet to price in.
Continue reading
event
Quick Take
2022-09-30
Climate from the allocator's perspective
How do different asset allocators within Wellington incorporate climate change into their investment process as markets, data and regulation continue to evolve?
Continue reading
event
Event replay
2023-05-31
Monthly Market Snapshot: April 2022
A monthly update on equity, fixed income, currency, and commodity markets.
Continue reading
event
Article
2022-07-15
Timely musings on Fed policy and inflation
With rising inflation and interest rates dominating the financial headlines in recent weeks, I have been fielding a flurry of colleague and client questions about the likely future trajectory of US monetary policy. While I don’t claim to have all the answers, especially with so many “known unknowns” as of this writing, here are my latest thoughts.
Continue reading
event
Quick Take
2022-08-30
How the public market correction is affecting the late-stage private equity market
The times they are a-changin’. The late-stage private equity market is digesting a public growth multiple collapse that took us from boom to bust in four months. But while valuations may be coming down in the private market as a result, the opportunity-creating trends of technology disrupting all parts of the economy and companies staying private longer remain in place.
Continue reading
event
Quick Take
2022-09-30
US inflation risk, angry bondholders, and silver linings
Here are quick thoughts on some common questions I’ve been asked recently about Fed policy, yields, the US dollar, and financial markets.
Continue reading
event
Quick Take
2022-08-31
Making the money last: Research insights on the decumulation challenge
Our Investment Strategy team considers the unique challenges of decumulation strategies, including sequencing and longevity risk, and offers thoughts on best practices in portfolio construction, process design, and implementation.
Continue reading
event
Quick Take
2023-04-30
Is it too soon to call a “top” in US interest rates?
Are we nearing the top of the 10-year treasury rate?
Continue reading
event
Quick Take
2023-05-31
Empirical duration: reason for optimism on risk assets?
While rising rates often produce negative bond returns, combining the concept of empirical duration with a positive outlook on the credit cycle may bode well for some fixed income sectors' return prospects going forward. Investment Analyst Will Prenits and Investment Director Tobias Ripka explain.
Continue reading
event
Quick Take
2022-07-31
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.
Continue reading
event
Article
2023-04-30
Wellington Global Stewards Fund
Stewardship investing focuses on companies that balance the interests of people, the planet and profits. In this video, Equity Portfolio Manager Yolanda Courtines, introduces the Wellington Global Stewards Fund — a highly selective, core, global equity fund.
Continue reading
event
Video
2023-05-31
Will Japanese buyers look beyond USD fixed income? They may have to
With the US Federal Reserve’s (Fed’s) interest-rate-hiking cycle now underway, it’s an important time to keep a close eye on non-US buyers of US dollar (USD) fixed income securities.
Continue reading
event
Quick Take
2022-07-31
Six reasons India may be on the cusp of a major upcycle
Numerous positive structural and cyclical factors are pointing towards a major economic upcycle in India over the next five to six years, in our view, creating a range of potential investment opportunities. We believe India’s market is supported by an evolving investment universe, powerful demographic trends, increasing urbanisation and rising wealth, export growth, geopolitical tailwinds and a supportive policy regime. These factors are coalescing at a time when the corporate deleveraging cycle of the last few years is coming to an end and a new upcycle in profitability could be beginning.
Continue reading
event
Quick Take
2022-12-30
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.
Continue reading
event
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.
Continue reading
event
Article
2022-10-15
Helping European investors navigate inflation fears
The recent shift to a higher inflation regime, with resulting expectations of tighter monetary policy and rising interest rates, presents a material challenge for European fixed income investors. Against this backdrop, Investment Analyst Will Prentis and Investment Director Tobias Ripka believe investment flexibility is key.
Continue reading
event
Quick Take
2022-07-31
Nobody’s perfect: The case for a long-term strategy in active management
While many asset owners recognize the value of a long-term mindset, it can be challenging to resist short-term instincts in volatile environments like the one we’ve seen in recent months. But asset owners who have a strategy to help them stay focused on the long term may avoid a number of potentially costly behaviors, including abandoning a thoughtfully selected allocation to a manager after a relatively short period of underperformance.
Continue reading
event
Quick Take
2022-07-31
Five reasons to take a closer look at Brazil
I have published my views on Brazil more than once over the past year (most recently in my November 2021 blog post), but the environment there has changed markedly through the first few months of this year, with COVID-related risks seemingly on the wane and the Russia/Ukraine conflict having driven up commodity prices — so I thought now would be an opportune time to share a fresh perspective on South America’s most populous country.
Continue reading
event
Quick Take
2022-07-31
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.
Continue reading
event
Article
2023-04-30
Monthly Market Snapshot: March 2022
A monthly update on equity, fixed income, currency, and commodity markets.
Continue reading
event
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.
Continue reading
event
Article
2023-04-30
Global convertibles: Poised to benefit from five structural tailwinds
Fixed Income Portfolio Manager Michael Barry and Investment Specialist Raina Dunkelberger believe global convertible bonds are likely to outperform other fixed income sectors over an investment time horizon of approximately two to three years. Learn why.
Continue reading
event
Quick Take
2022-07-31
Higher inflation, rising rates: Front and center for insurers
With macro and market complications piling up through the first few months of 2022, Insurance Multi-Asset Strategist Tim Antonelli provides his investment implications for global insurers.
Continue reading
event
Article
2022-10-15
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.
Continue reading
event
Article
2022-11-30
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.
Continue reading
event
Article
2023-04-30
Global credit: Where do we go from here?
Fixed Income Portfolio Manager Mahmoud El-Shaer explores why 2022 may be a momentous year for global credit and sets out a framework to think through potential investment implications. 2022 promises to be another challenging year for central banks as they attempt to normalise policies in the face of surging inflation, while navigating the growing fallout from Russia’s invasion of Ukraine. Since 2009, there has essentially been one trade in capital markets: riding a huge wave of central bank liquidity in support of the financial system and the economy, with the G4 central banks alone pumping approximately US$20 trillion into the system via quantitative easing (QE).
Continue reading
event
Quick Take
2022-07-31
Crypto beyond the hype: Insights for institutional investors
We highlight a few practical insights on cryptocurrencies for institutional investors evaluating the asset class, including our views on custody, regulation, and more.
Continue reading
event
Quick Take
2022-12-31
Beware of benchmark concentration
We discuss the outperformance of megacap stocks and offer perspective on how active managers may approach the challenge of being underweight those stocks.
Continue reading
event
Quick Take
2022-06-30
Four potentially powerful tailwinds for the securitized sector
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.
Continue reading
event
Quick Take
2022-06-30
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.
Continue reading
event
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.
Continue reading
event
Article
2022-06-30
Cybersecurity in 2022
The ongoing conflict in Ukraine has raised the profile of today’s heightened cybersecurity risks. Here, we highlight the rising cybersecurity problem, explore how it affects the private sphere, discuss key regulatory considerations, and share best practices for private companies facing these threats.
Continue reading
event
Article
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.
Continue reading
event
Article
2023-03-31
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.
Continue reading
event
Article
2023-03-31
Five key ESG topics for private companies
Members of our private market ESG team highlight the topics they expect will be top of mind in the coming year, from diversity to data privacy to supply-chain issues.
Continue reading
event
Video
2022-12-31
River from above
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.
Continue reading
event
Article
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.
Continue reading
event
Article
2023-02-28
Why I’m getting more bullish on biotech
The biotechnology sector, especially SMID-cap biotech equities, suffered a dramatic drawdown in 2021. Investor sentiment toward the sector remains poor, but my outlook has become increasingly bullish as multiple headwinds facing biotech over the past year or so begin to abate and turn into potential tailwinds for 2022 and beyond. Encouragingly, the level of innovation across the industry has never been higher, in my view. I believe many biotech stocks may be nearing a bottom, even though the exact timing of (and catalyst for) a rebound remains unclear as of this writing.
Continue reading
event
Quick Take
2022-06-30
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.
Continue reading
event
Article
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.
Continue reading
event
Article
2022-10-31
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.
Continue reading
event
Article
2023-03-31
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.
Continue reading
event
Article
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.
Continue reading
event
Article
2023-03-31
Russia/Ukraine conflict: What investors need to know
Russia’s invasion of Ukraine sent shockwaves around the world and has triggered sweeping punitive political and economic policy responses from the US and Europe, with the potential to usher in another cold war era in Russia’s relations with the West. Beyond the tragic humanitarian toll, this watershed event is likely to have profound geopolitical, economic and asset allocation implications. We’ve assembled this collection of timely insights, which we’ll update frequently given the fluidity of the situation, to help investors navigate these unprecedented times.
Continue reading
event
2023-02-03
An inside look at today’s municipal market
After a year in which municipal bonds posted respectable returns (Figure 1), many clients have been seeking forward-looking guidance on the market as a whole and (increasingly) on particular sectors of it. Here are my latest thoughts as of this writing on the outlook for the rest of 2022.
Continue reading
event
Quick Take
2022-05-31
How might equity sectors fare when Fed tightening begins?
We look back at how US equities have performed in the months following the beginning of a tightening cycle, as well as how bond yields have tended to behave.
Continue reading
event
Quick Take
2022-05-31
China in 2022: Embracing the volatility
China’s new antitrust, data privacy and cybersecurity regulations, combined with its education and real estate industry reforms, the continued impact of COVID-19 and rising geopolitical tensions, drove a tumultuous investment environment last year. The country’s numerous headline-grabbing changes spurred global concern given the philosophical shift towards “Common Prosperity” and the sheer scale and speed of policymaking.
Continue reading
event
Quick Take
2022-08-31
Russian invasion of Ukraine: Looking through the newsflow
Looking beyond the upsetting newsflow, what does the unfolding Ukrainian tragedy mean for investors? Director of Investment Strategy Natasha Brook-Walters shares three different Wellington perspectives.
Continue reading
event
Article
2023-02-28
EM local debt: Forgotten but not forsaken
The emerging markets (EM) local debt sector (as measured by the JP Morgan Government Bond Index – Emerging Markets Global Diversified) just posted its worst calendar-year performance since 2013, returning -8.75% against the headwind of higher EM local interest rates. The underlying culprit? EM inflation surprised to the upside in 2021, forcing a number of EM central banks to raise their policy interest rates in an effort to curb the impact.
Continue reading
event
Quick Take
2022-09-30
Navigating a new tomorrow
In this video, Wellington investment professionals and prominent guests articulate the structural risks and opportunities that we believe will shape tomorrow’s investment strategies, ranging from medical innovation spurred by the global pandemic to technological breakthroughs, and ideas aimed at curbing or mitigating climate risk.
Continue reading
event
Event replay
2023-01-31
Commodities in 2022: Opportunities amid inflation
Inflation is quickly becoming top of mind for many as everything from ice cream to cars gets more expensive. Investors are beginning to recognize that we’re experiencing the highest inflation levels in 40 years. In our view, we may be entering a market that could be quite favorable for inflation-hedging assets broadly and commodities, in particular. Critically, this environment is coming on the heels of a decade or more of institutions deallocating from inflation-sensitive areas.
Continue reading
event
Quick Take
2022-08-31
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.
Continue reading
event
Article
2023-02-28
Amid heightened regulation and geopolitical tension, is China still investable?
Recent regulatory announcements have sent shivers through a wide swath of China’s economy, including the technology, finance, gaming, and property sectors, and tensions between China and the US continue to simmer. But while I understand the market’s reaction to these risks, I take a long-term perspective on China’s investability.
Continue reading
event
Quick Take
2022-05-31
River from above
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.
Continue reading
event
Article
2023-02-28
Credit and equity performance around Fed hiking cycles
One of the discussion topics du jour is how the credit and equity markets might react to the US Federal Reserve (Fed) interest-rate hikes that are widely anticipated in the coming months. As is often the case with me, I find it helpful here to refer to past hiking regimes and market performances as a sort of guidepost. The proof’s in the pudding To wit, I examined the historical returns of both US credit (for this purpose, proxied by corporate high-yield bonds) and US equities (represented by the S&P 500 Index) during the six months before the first rate increase of a Fed hiking cycle through the 12 months after said increase.
Continue reading
event
Quick Take
2022-05-31
Adapting our capital market assumptions to the realities of climate risk
As the momentum behind decarbonisation and net-zero objectives builds around the world, asset owners are increasingly engaged in addressing the investment implications of climate change. The focus thus far has largely been on implementation at the security- and manager-selection levels, but there is a growing recognition of the need to factor climate change into broader investment policy and asset allocation decisions. To help with this process, our Investment Strategy Team, in partnership with our Climate and ESG teams, recently completed a comprehensive effort to integrate climate risks into our capital market assumptions (CMAs).
Continue reading
event
Quick Take
2022-05-31
Regime change likely to challenge modern market structures
Recently, I wrote about the rotation from growth to value and why some of my colleagues and I expect volatility, more than a smooth transition of leadership, to define markets. The thesis is rooted in the fact that seismic macro questions loom over markets and are likely to trigger violent fluctuations in investor conviction. Earlier this month, Macro Strategist John Butler dissected one of these questions: Will the negative correlation between stocks and bonds turn positive?
Continue reading
event
Quick Take
2022-05-31
Evaluating cryptocurrencies as an asset class
We explore cryptoassets’ potential as an asset class as the topic dominates the headlines.
Continue reading
event
Article
2023-02-28
China in 2022 - Uncorrelated but far from broken
Macro Strategist Santiago Millan highlights a trend of falling correlations between China’s economy and asset prices versus their global counterparts.
Continue reading
event
Quick Take
2022-08-31
Can Ukraine’s economy withstand another conflict with Russia?
Macro Strategist Gillian Edgeworth assesses Ukraine’s outlook in the face of renewed conflict with Russia and finds that under most scenarios Ukraine's macro-economic prospects may be less negative than perhaps is assumed.
Continue reading
event
2023-02-28
Fixed income: Turn to nontraditional sectors for greater return potential in 2022
As discussed in our 2022 credit sector outlook piece, Break with tradition in 2022, we see opportunities in a few nontraditional credit sectors that stand out to us as having a higher probability of generating excess returns in the months ahead.
Continue reading
event
Quick Take
2022-04-30
Ukraine crisis: Understanding the broader picture
I believe the current standoff between Russia and the West over Ukraine is part of a global geopolitical pattern of “great-power” competition. As I explore in my 2022 Outlook, the geopolitical backdrop is becoming increasingly unpredictable and dangerous. This shift is driven primarily by US-China rivalry but also other structural factors such as domestic political polarization, and longer term, the growing impact of climate change on national security. In this new geopolitical reality, I think great powers will be more likely to act out of regional and global self-interest, especially in relation to geostrategic issues they consider core to national security. For Russia, Ukraine is such a critical security consideration and part of its wider strong geostrategic desire for cultivating “buffer states.” Accordingly, the Russian invasion threat to Ukraine is real, structural, and rooted in this emerging world order.
Continue reading
event
Quick Take
2022-04-30
The critically important national security implications of biotech
Deepening US policy risks in the biotechnology sector have garnered some well-deserved attention from many of my colleagues lately. Given biotechnology’s potential future importance to US policymakers in the context of the ongoing US-China “great-power” competition, I’d like to share my own thoughts on what’s driving the rising geopolitical risk and national security concerns.
Continue reading
event
Quick Take
2022-04-30
Monthly Market Snapshot: January 2022
A monthly update on equity, fixed income, currency, and commodity markets.
Continue reading
event
Article
2022-07-15
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.
Continue reading
event
Article
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.
Continue reading
event
Article
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.
Continue reading
event
Article
2022-09-30
2021 Responsible Investor USA conference: Climate investor spotlight
In this event replay from the 2021 Responsible Investor USA conference, Portfolio Manager Alan Hsu discusses how you can dynamically build a portfolio of stocks for a pragmatic net zero CO2 strategy.
Continue reading
event
Event replay
2023-01-31
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.
Continue reading
event
Article
2023-01-31
The latest market sell-off: Regime change in the making?
What a difference a few weeks can make in the equity market! The sharp, swift sell-off through the first month of this year is raising some difficult questions for investors, chiefly: Are we just witnessing a long-overdue short-term correction in the more speculative areas of the market, or perhaps something more fundamental (and enduring) that could portend a broader unwinding of equity risk?
Continue reading
event
Quick Take
2022-03-31
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.
Continue reading
event
Article
2023-01-31
Value versus growth: expect volatility more than a smooth transition of leadership
Even if a "growth to value" regime change is underway, investors should expect volatility more than a smooth transition of leadership. Thematic Strategist Trevor Noren shares his perspective and those of several Wellington colleagues.
Continue reading
event
Quick Take
2022-03-31
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.
Continue reading
event
Article
2022-12-31
Financial Market Review: Fourth quarter 2021
A quarterly review of results in the global equity, fixed income, currency, and commodity markets.
Continue reading
event
Article
2022-07-15
Monthly Market Snapshot: December 2021
A monthly update on equity, fixed income, currency, and commodity markets.
Continue reading
event
Article
2022-07-15
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.
Continue reading
event
Article
2023-01-31
Playing inflation defense with fixed income in 2022
For fixed income investors who are worried about the double threat of higher inflation and rising rates, there are strategies that may help insulate a bond portfolio. Fixed Income Investment Director Amar Reganti and Investment Specialist Jonathan Tan offer up some suggestions.
Continue reading
event
Quick Take
2022-02-28
High yield: Be ready for sideways moves, bouts of volatility in 2022
Our high-yield portfolio managers believe investors should stand ready to dynamically adjust positioning in a year that could see sideways spread moves and plenty of market volatility.
Continue reading
event
Quick Take
2022-08-31
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.
Continue reading
event
Article
2022-12-31
Reflation or stagflation? Assessing the investment outlook for 2022
Are investors right to fear a return of stagflation? What areas of portfolios may need repositioning? And how do they think about inflation and climate risk?
Continue reading
event
Event replay
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.
Continue reading
event
Article
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.
Continue reading
event
Article
2022-12-30
Impact investing in practice: supporting the shift to alternative energy
In this case study, we explore how our impact team supports the shift to alternative energy while seeking to capture the associated return potential.
Continue reading
event
2022-12-31
2022 Equity Outlook
Our 2022 Equity Outlook explores opportunities in equity income and emerging markets, along with trends in health care and technology for the coming year
Continue reading
event
2023-01-27
Three transition year themes — inflation, capital, ESG
Insurance Multi-Asset Strategist Tim Antonelli believes 2022 could be a year of transition for the global insurance industry, with the three big themes of inflation, capital, and ESG likely to play prominent roles in many insurers’ strategic planning and decisions.
Continue reading
event
Article
2022-12-01
Seven reasons Japanese equities are worth another look
Investment Strategy Analysts Steven Ye and Daniel Cook make their case for Japanese equities, based on valuations, the “benefits” of inflation, the potential for event-driven outperformance, and other factors that may be underappreciated by the market.
Continue reading
event
Quick Take
2022-09-30
The fish are biting: Exploiting Japan’s inefficient equity market
Our Japanese equity team has shown Japan to be one of the world’s most inefficient markets, making it a good “fishing pond” for alpha-seeking active managers who do their homework and apply a strong investment process.
Continue reading
event
Quick Take
2021-12-31
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.
Continue reading
event
Article
2022-11-30
Navigating narrow bond markets: how diversified is your fixed income alpha?
Understanding an active manager’s path and style of alpha generation should be a critical part of anyone’s fixed income manager evaluation process, says Brendan Fludder of our Fundamental Factor Team.
Continue reading
event
Quick Take
2022-07-28
Tying ESG to alpha — in practice
In a climate-driven capital cycle, companies that prioritise the environment and formulate clear climate strategies can become market leaders.
Continue reading
event
Event replay
2022-10-31
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.
Continue reading
event
Article
2022-12-31
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.
Continue reading
event
Article
2022-11-30
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.
Continue reading
event
Article
2022-11-30
Impact investing in practice: bridging the digital divide
How does impact investing work in practice? We illustrate our approach through a-real life example focused on helping to bridge the digital divide.
Continue reading
event
2022-11-30
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.
Continue reading
event
Article
2022-10-31
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.
Continue reading
event
Article
2022-11-15
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.
Continue reading
event
Article
2022-09-30
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.
Continue reading
event
Article
2022-11-30
Approach growth differently: think development, not just GDP
We discuss how today's market impacts growth companies, including which areas are well positioned for the year ahead.
Continue reading
event
2022-09-30
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.
Continue reading
event
Article
2022-03-31
Countering climate risks through collaboration
Global Industry Analyst Alan Hsu and Dr. Philip Duffy of Woodwell Climate Research Center discuss the importance of close cooperation between investors and climate scientists when addressing climate action.
Continue reading
event
Podcast
2022-10-31
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.
Continue reading
event
Article
2022-10-15
Strong but slowing growth: A tale of two narratives
Markets appear to be caught between two hard-to-reconcile narratives: The pace of economic growth looks poised to slow, but the level of growth is likely to stay relatively strong. Multi-Asset Insurance Strategist Tim Antonelli and Investment Strategy Analyst Daniel Cook offer insights for global insurers at this point in the cycle.
Continue reading
event
2022-01-31
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.
Continue reading
event
Article
2022-09-30
Should China equity be a stand-alone allocation?
As China’s role on the world stage looms larger, should investors separate the country from the rest of their emerging markets (EM) equity allocation? Three of our multi-asset strategists provide their research-based take, along with some practical considerations.
Continue reading
event
Quick Take
2022-05-31
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.
Continue reading
event
Article
2022-10-31
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.
Continue reading
event
Article
2022-10-31
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.
Continue reading
event
Article
2022-09-30
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.
Continue reading
event
Article
2022-09-30
Five reasons to think US inflation has staying power
After a lengthy absence, inflation has finally returned to the US, but for how long depends on who you ask. Fixed Income Portfolio Manager Brij Khurana offers his view on why US inflation may prove to be more enduring than many observers think.
Continue reading
event
2022-08-31
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.
Continue reading
event
Article
2022-08-31
“Buy now, pay later” is at a turning point
For Portfolio Manager Matt Lipton, recent developments have strengthened his conviction that up-and-coming “buy now, pay later” companies cannot and should not be ignored by banks and other legacy players in the global payments space.
Continue reading
event
Quick Take
2021-11-30
All-China Focus Equity Fund
Portfolio Manager Bo Meunier and Investment Director Philip Li outline the investment philosophy of the Wellington All-China Focus Equity Fund, and discuss the appeal of a standalone equity allocation to China and the interesting opportunities in today’s environment.
Continue reading
event
Video
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.
Continue reading
event
Article
2022-08-31
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.
Continue reading
event
Article
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.
Continue reading
event
Article
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.
Continue reading
event
Article
2022-09-30
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.
Continue reading
event
Article
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.
Continue reading
event
Article
2022-06-30
The coming wave of disruption in financial services
Portfolio Manager Matt Lipton explains why some financial companies are finally catching up with other sectors that have long benefited from structural change driven by technological innovation — and why some incumbents will be left behind.
Continue reading
event
2022-08-31
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.
Continue reading
event
Article
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.
Continue reading
event
Article
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.
Continue reading
event
Article
2022-07-31
Genomic testing and the future of medicine
We explore the future of genomic testing, the therapeutics it enables, and its impact on the health care system as a whole.
Continue reading
event
Video
2022-07-30
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.
Continue reading
event
Article
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.
Continue reading
event
Article
2022-04-30
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.
Continue reading
event
Article
2022-06-30
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.
Continue reading
event
Article
2022-07-31
Update on key sustainability initiatives
We highlight progress on key sustainability initiatives: interim targets for our net-zero commitment, inclusion of location data in climate disclosures, and expanding our compliance with SFDR.
Continue reading
event
2021-12-31
Building climate resilience with strategic asset allocation framework
Driving volatility and dispersion, climate change could have lasting effects on the risk and return profile of a strategic asset allocation plan. We suggest allocators factor climate change into their structural planning today, and we propose a climate-aware allocation framework to help them do so.
Continue reading
event
Article
2022-07-31
Update on key sustainability initiatives
We highlight progress on key sustainability initiatives: interim targets for our net-zero commitment, inclusion of location data in climate disclosures, and expanding our compliance with SFDR.
Continue reading
event
Article
2021-12-31
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.
Continue reading
event
Article
2022-07-31
Global credit: what to do about rising capital costs for carbon emitters
With the trend toward wider credit spreads for high carbon emitters likely to intensify, we believe avoiding issuers and industries with uncompensated ESG risks should benefit performance.
Continue reading
event
2022-07-31
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.
Continue reading
event
Article
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.
Continue reading
event
Article
2022-07-31
Has climate transition risk been priced into equities?
The recent runup of some “green” equities has investors questioning whether climate transition risks have been priced in. But the lack of Scope 3 emissions data and wide variation in the quality of companies’ climate transition plans leave gaping inefficiencies that active investors can still exploit.
Continue reading
event
Article
2022-05-31
Net Zero Asset Managers initiative
By targeting net-zero emissions, investors can contribute to the global decarbonization effort. But what does this mean in practice? How do we pursue net zero while aiming to deliver competitive investment returns for clients? Our incoming CEO discusses our net-zero commitment, and members of our Sustainable Investing Team explain how we are approaching it.
Continue reading
event
Video
2022-06-30
EM inflation has arrived, but will it stick around?
Emerging markets inflation has been top of mind for many investors lately. Macro Strategist Gillian Edgeworth, Equity Portfolio Manager Jamie Rice, and Fixed Income Portfolio Manager Michael Henry consider the outlook going forward and potential market implications.
Continue reading
event
Article
2022-07-29
The hopeful continent
Equity Portfolio Manager Bo Meunier and Equity Research Analyst David Reid believe the time has come for equity investors to take a closer look at the opportunity set in Africa.
Continue reading
event
Article
2022-07-31
A source-based approach to managing inflation risk
Multi-Asset Strategists Nick Samouilhan and Adam Berger present a source-based investment “playbook” that asset allocators can follow as they seek to neutralize the looming threat of higher inflation.
Continue reading
event
Article
2022-06-30
Getting the balance right in today’s high-yield market
Our high-yield team assesses how to navigate today’s high yield market at a time of major spread compression.
Continue reading
event
No way out? Why the Fed may be trapped
Shifting inflation dynamics could box the Fed into a corner and test its resolve going forward. Fixed Income Portfolio Manager Brij Khurana takes a closer look and considers the investment implications.
Continue reading
event
Article
2021-12-31
A theme is not an index
We explore the case for active thematic investing and highlight the importance of avoiding theme-washing.
Continue reading
event
Article
2022-06-30
Beyond bitcoin: Eight essential blockchain insights
We look beyond bitcoin to explore eight exciting impacts and opportunities from blockchain technology.
Continue reading
event
Article
2022-05-31
The “EM-ification” of DMs
Global Investment Strategist Nanette Abuhoff Jacobson believes that many developed market countries are beginning to resemble their emerging market counterparts in certain ways. Here are some of her findings, along with possible paths forward and potential investment implications.
Continue reading
event
Article
2022-06-30
Widespread tech innovation: Don’t miss the forest for the really big tree
We explore the innovations driving a multi-decade journey of disruption and highlight the importance of in-depth research to capturing this opportunity.
Continue reading
event
Article
2022-05-31
Water: Priced for imperfection
Water scarcity could have profound humanitarian and economic consequences. Members of our Future Themes research team share insights from their work, including why they believe water is woefully underpriced and how investors can effectively gain exposure to this important theme.
Continue reading
event
Article
2022-05-31
EM equity looks more attractive than it’s been in a decade
Equity Portfolio Manager Jamie Rice describes his bullish stance on emerging markets (EM) equities and looks at China’s burgeoning A-share market.
Continue reading
event
Article
2021-07-30
Game on: Fintech disruptors vs old-school banks
Fintech companies are forcing traditional banks to up their game and rethink their business strategy, including the products they offer. Global Industry Analyst Matt Ross takes a closer look.
Continue reading
event
Article
2021-08-31
The future of payments
We profile the innovations fueling the next stage of disruption in the payments industry.
Continue reading
event
Article
2022-04-30
ESG research playbook: Health care
Wellington has established frameworks — what we call “research playbooks” — for evaluating companies within each sector based on key ESG criteria. ESG Analyst Lindsay Blitstein looks at the health care sector here.
Continue reading
event
Quick Take
2022-04-30
Central bank digital currencies: Debunking five common myths
We discuss how disruptive central bank digital currencies are likely to be and dispel some commonly held CBDC myths.
Continue reading
event
Article
2022-04-30
The hidden growth story in Japan tech
Learn why the hidden growth story within Japanese tech is one of our highest conviction themes, especially in the wake of the COVID-19 crisis.
Continue reading
event
Article
2022-03-31
The world’s hub of innovation
We profile Asia technology in the 2020s, outlining the long-term case for the sector after its strong rebound in recent months.
Continue reading
event
Article
2022-03-29
Faster computation with smaller, more powerful computer chips
We explore the technology fueling the next stage of computer chip innovation.
Continue reading
event
Article
2022-03-31
Local solutions for local markets
We profile the growth of local Asia tech solutions for local markets, a promising trend we believe continues to thrive amid COVID-19 and the US-China trade war.
Continue reading
event
Quick Take
2022-03-31
A new inflationary regime: Why the next decade could look different from the last
We explore why the risk of structurally higher inflation may be the highest it has been in decades and profile the key investment implications this presents.
Continue reading
event
Article
2022-01-31
Seeing an end to the ESG blind spot in private equity
ESG's role is coming into focus in the private market, says Hillary Flynn, director of ESG, Private Investments. She discusses governance, climate, and other key themes; the higher bar for newly IPO'd companies; and the evolving activist playbook.
Continue reading
event
Article
2022-01-31