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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
LDI in 2023: Ten questions corporate plan sponsors are asking
Members of our LDI Team address a range of topics that US corporate plans will be thinking about in the coming year, from the investment implications of pension accounting changes to the role of alternatives in a return-seeking portfolio.
Article
2023-12-31
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
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
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 internet: Identifying opportunities amid stormy seas
Uncertainty in the Chinese internet company space has been elevated over the past few years. We believe that investors may benefit from tactical approach, rather than broad-based industry exposure.
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
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
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
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
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
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
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
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
Key drivers for investors in 2023 and beyond: sustainability, disruptive technology, and alternatives
Head of Asia-Pacific Client Group Scott Geary reflects on the overarching themes from the 2022 Milken Asia Summit and the future of investing.
Article
2023-09-30
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
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
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
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
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
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
The critical role of ESG in private equity
Explore our full ESG insights for private companies series with our latest research on governance, DEI, climate, and much more.
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Article
2024-10-31
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
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
Why collective investment trusts are gaining traction within DC plans
Growing interest in CITs within the DC space is being driven by lower fees and other benefits — a trend our DC team expects to continue.
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Article
2023-08-31
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
A Canadian investor’s guide to navigating climate change
Director of Climate Research Chris Goolgasian and Alan Matijas, director of Client Group in Canada, provide relevant climate-related research and insights for Canadian investors.
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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
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
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
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
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
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
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
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
2023-05-31
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
2021 Sustainability Report
Sustainability is a strategic priority for our firm and an integral part of our commitment to our clients. By focusing on our clients’ objectives and pairing intellectual curiosity with discipline, we believe we can help our clients meet their long-term goals in a changing world. We appreciate the opportunity to share our approach to advancing sustainable practices across our investment, client, and infrastructure platforms.
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Article
2023-06-14
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
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
Allocating to hybrid strategies: A multiple-choice decision
Multi-Asset Strategist Cara Lafond considers the options available to allocators deciding where hybrid or crossover strategies fit best in their asset mix.
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Article
2023-05-31
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
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
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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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.
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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.
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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.
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Article
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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Article
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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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.
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Article
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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Article
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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Article
2023-03-31
DC plans: Three timely themes that probably aren’t going away anytime soon
Our DC plan specialists highlight three big-picture investment themes that are not only top of mind for many plan participants in today’s environment, but are also likely to have staying power in the months ahead.
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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.
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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.
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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.
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Article
2023-03-31
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.
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Article
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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Article
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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Article
2023-02-28
Start at the end: How to size and structure private allocations for corporate plans
How should corporate defined benefit plan sponsors think about the private allocation decision? Members of our LDI and Alternatives teams propose a “start where you want to end up” approach that incorporates liquidity and return requirements.
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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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Article
2023-02-28
Monthly Market Snapshot: January 2022
A monthly update on equity, fixed income, currency, and commodity markets.
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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.
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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.
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Article
2023-02-28
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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Article
2023-02-28
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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Article
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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Article
2022-12-31
Monthly Market Snapshot: December 2021
A monthly update on equity, fixed income, currency, and commodity markets.
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Article
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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Article
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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Article
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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Article
2022-12-31
Blast from the past: Are we watching the return of 1970s-style stagflation?
How worried should investors be about the risk of stagflation? Portfolio Manager Nick Petrucelli offers his take, digging into previous occurrences for clues about the causes that may be most relevant today and outlining the potential outcomes and capital market implications.
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Article
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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Article
2022-11-15
Quality-growth investing amid inflation and rising rates
We discuss how today's market impacts growth companies, including which areas are well positioned for the year ahead.
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Article
2022-12-31
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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Article
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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Article
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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Article
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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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.
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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.
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Article
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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Article
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.
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Article
2022-10-31
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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Article
2022-08-31
Time to buy credit or Treasuries? Ideas on calibrating the trade-off
After hitting derisking triggers in 2021, many plans are looking ahead to the next trigger and thinking about how expensive the investment-grade credit market is currently. LDI Team members Connor Fitzgerald and Bill Cole offer metrics to aid the decision-making process and consider potential alternatives.
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Article
2022-11-30
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
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
Tech WELLcovered: Life stages fulfilled
Innovations like artificial intelligence (AI), machine learning, and genomic sequencing help make big life decisions less daunting by bringing clarity to decision making. Join us on a journey to witness the past, experience the present, and choose a more fulfilling future — all while harnessing the investable opportunities tech creates.
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Article
2022-10-31
Sizing up Biden’s plan to decarbonize America
US Macro Strategist Juhi Dhawan examines the Biden administration’s commitment to a lower-carbon economy, including proposed infrastructure spending, tax incentives, and regulations, as well as the implications for industries and the broad economy.
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Article
2022-10-31
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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Article
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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Article
2022-03-31
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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Article
2022-09-30
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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Article
2022-10-31
Rising short-termism in fintech has a silver lining
Global Industry Analyst Matt Ross looks at the fintech sector as an example of the long-term alpha opportunity that may be available to patient equity investors.
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Article
2022-03-14
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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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.
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Article
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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Article
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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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.
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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.
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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.
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Article
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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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.
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Article
2022-08-31
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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Article
2022-08-31
Chinese regulation: Lessons from after-school tutoring
Investment Director Graham Proud distills our China and EM equity specialists’ views on China’s latest regulatory move — including why investors shouldn’t jump to conclusions regarding potential implications for Chinese internet companies.
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Article
2021-10-31
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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Article
2022-06-30
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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Article
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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Article
2022-07-31
Are ESG and policy intervention game changers?
An accelerating focus on ESG and more aggressive policy interventions could change the way we invest in years to come. Marc Piccuirro assesses the implications for investors.
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Article
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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Article
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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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.
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Article
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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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.
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Article
2022-05-31
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.
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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.
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Article
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.
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A theme is not an index
We explore the case for active thematic investing and highlight the importance of avoiding theme-washing.
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Article
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.
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Article
2022-07-29
Inflation’s big comeback: Should corporate pensions care?
It’s been a long time since anyone worried about inflation getting off the ground. That seems to be changing, and for corporate plans, we think the risk is greater for return-seeking portfolios than liability-hedging portfolios. But we also believe that falling inflation is more worrisome than rising inflation. In this paper, we consider the implications and the potential role of different return-seeking allocations in preparing for various inflation outcomes.
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Article
2022-06-30
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.
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Article
2022-07-31
China unplugged: Investing in the world’s largest decarbonization effort
China has pledged to target peak emissions by 2030 and net-zero emissions by 2060. This massive environmental...
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Article
2022-07-31
Beyond bitcoin: Eight essential blockchain insights
We look beyond bitcoin to explore eight exciting impacts and opportunities from blockchain technology.
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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.
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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.
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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.
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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.
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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.
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Article
2021-08-31
The future of payments
We profile the innovations fueling the next stage of disruption in the payments industry.
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Article
2022-04-30
How will climate interventions affect developed economies
Green spending has been a key element in the stimulus packages announced by Western governments and the EU. But how will these measures play out economically? Macroeconomic Strategist Jens Larsen explains what he believes are the most likely outcomes
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Article
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.
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Article
2022-04-30
The digital transformation of financial services
We highlight the fintech innovations driving the digitization and disruption of financial services.
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Article
2022-04-01
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.
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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.
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Article
2022-03-29
Faster computation with smaller, more powerful computer chips
We explore the technology fueling the next stage of computer chip innovation.
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Article
2022-03-31
LDI Alert — Adding intermediate credit to the derisking tool kit: What plan sponsors need to know
With a growing number of derisking plans seeking exposure to intermediate credit, members of our LDI team highlight some key investment considerations.
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Article
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.
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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.
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Article
2022-01-31
Fighting downgrade drag to reduce pension liability lag
Even robustly constructed liability benchmarks can struggle to keep pace with the liabilities they are meant to represent, and credit-rating downgrades of issuers in the benchmark are a primary culprit. In this paper, members of our LDI Team define the problem and offer ideas to help plan sponsors and LDI managers work together to fight back.
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Article
2021-11-30
Assessing opportunities and challenges
Emerging markets are on the front lines of climate change. Aware of the challenges, many EM companies are developing solutions, shifting business models, and realigning corporate policies to help them prepare. Two of our EM portfolio managers share insights on the investing landscape and offer a framework for incorporating climate-related themes into a portfolio.
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Article
2022-03-01
Studying outsiders: Blending the advantages of public and private equity
Learn why we believe a longer-term public market approach focused on strong capital allocation could combine the benefits of public and private equity.
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Article
2022-05-31
Asking private companies to show their ESG credentials
ESG issues are a growing area of focus in the public market, but what about the private market? Our co-head of Private Investments and our director of ESG, Private Investments, argue for informed and active ownership from the initial investment until the IPO.
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Article
2021-07-01
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