In this round table, Thomas C. Goggins, senior managing director and senior portfolio manager on the global multisector fixed-income team at Manulife Asset Management, Marty Margolis, chief investment officer at PFM Asset Management LLC, and Don Sheridan, a director on the fixed-income research team at Segal Marco Advisors, discuss the trends shaping fixed-income markets, including inflation and the flattening yield curve, opportunities around the globe and risks that investors need to keep an eye on.
Rising interest rates have made fixed income investing challenging and returns hard to come by. But for managers following a global macro strategy, finding investment opportunities is the least of their worries.
Institutional investors continue to ratchet down their expectations of returns from asset classes. Their long-term need for alpha has led to a greater focus on fees, which in turn is driving their interest in factor investing.
The economic model that has sustained Asia’s emerging markets for 35 years is under pressure. The threat and initiation of trade wars combined with underwhelming performance of the region’s equity markets have driven the point home. But that doesn’t mean equity investors should abandon the asset class.
With the U.S. very late in its economic cycle, emerging markets offer an attractive alternative. In this Q&A, Pensions & Investments speaks with Ernest Yeung, portfolio manager for the emerging markets value equity strategy at T. Rowe Price, about the prospects for emerging markets, including the unique opportunities in companies that many investors are missing.
In this round table discussion, Rob Reiskytl, partner, actuarial consultant at Aon, Drew Carrington, senior vice president, head of institutional DC at Franklin Templeton Investments, and Anne Lester, portfolio manager and head of retirement solutions at JPMorgan Asset Management, discuss the opportunities and challenges around retirement income for plan sponsors, how automation may fall short for near-retirees and how to think about fiduciary risks when it comes to retirement income.
With the approaching anniversary of the global financial crisis, an important metric is being reset: the 10-year performance track record. Asset managers will, starting very soon, no longer have 2008 on their 10-year historical performance charts. With its disappearance, an elementary but key gauge of risk management will vanish as well.
Is Value Ready to Turn?
Long period of underperformance may be coming to an end
David Starr, a managing director at PFM Asset Management LLC, takes another look at the risk and management of stable value funds.
Outcome-oriented solutions offer significant potential to enhance risk-adjusted performance across both strong and weak market cycles. Invesco portfolio managers David Millar, head of multi-asset, and Scott Wolle, chief investment officer of global asset allocation, highlight the current trends driving interest in the segment and how these strategies can fit into an institutional portfolio.
At first, investing with an environmental, social and governance focus simply meant not buying certain stocks, such as tobacco or gaming companies. And for some investors, adoption of ESG is still hampered by a lack of understanding around how to incorporate it into a mandate. But for many, the idea of ESG integration is starting to take hold.
One investment topic that rarely, if ever, goes out of style is diversification. But it’s not often discussed in the context of target-date funds, and that’s a problem. Diversification should play a central role when defined contribution plan sponsors seek to bolster their retirement programs.
Looking beyond the impact of oil on energy stocks
Manager selection, active or passive strategies and the use of alternative investments are three key issues when considering a multi-asset allocation. In this Q&A, Biagio Manieri, a managing director at PFM Asset Management LLC, talks about the firm’s approach to these three areas.
Edward Farrington, executive vice president of retirement strategies at Natixis Investment Managers, welcomed the guidance on environmental, social and governance investing for ERISA plans and said it may, in fact, lead to greater adoption of ESG strategies and funds.
Working with companies on ESG issues can lead to better long-term outcomes for the companies, their employees, suppliers, shareholders and other stakeholders, not to mention the world.
Fangs and Bats Grab Investors’ Attention, But Are They Worth It?
The opportunities in infrastructure debt have never been better — as long as you have the right partner, explains Emeka Onukwugha, head of Barings’ Private Debt Group.
The CFPB defines financial wellness as helping your employees better manage their day to day finances, prepare for the unexpected and achieve their long-term goals.
Here are eight ways you can work with your benefits provider to help you understand the needs of your workforce, design solutions that meet those needs and inspire your employees to take action.
Rising stock-market volatility and increasing interest rates have left many institutional investors wondering where capital appreciation will come from in their portfolios. To cushion against a market dislocation, the active quant equity team at State Street currently sees opportunities in utilities, financials, industrials and select cyclicals.
This supplement takes a deep dive into the latest in target-date design, including the question of custom vs. off-the-shelf. In addition, our expert panelists discuss what’s new in the world of glidepaths.
In this Q&A, Mark Vaselkiv, chief investment officer of fixed income at T. Rowe Price Group, and Samy Muaddi, emerging markets portfolio manager, answer these questions and discuss where they are finding opportunities, as well as how fixed income can play an increasingly critical role in institutional asset owners’ portfolios.
More defined benefit plan sponsors are taking advantage of their pensions’ improved funded status — thanks to the bull market in stocks and rising interest rates — by moving assets out of equities and into fixed-income securities. Their goal: Reduce balance-sheet volatility and better match assets with liabilities.
Volatility is not likely to subside to 2017 levels anytime soon, with interest rates on the rise, uncertainty about a trade war in the air and jittery investors ready to react to any hint of good or bad news.
In this round table discussion, Gary Veerman, head of LDI solutions at Capital Group, François Pellerin, an LDI strategist in the fixed-income division at Fidelity Management & Research Co., and James So, a product specialist at Western Asset Management Co., discuss how plan sponsors are approaching pension derisking, what mistakes they often make and what the future holds.
One strategy that can offer diversification and exposure to alternative strategies without the cost of supposed alpha is alternative beta. Alternative beta strategies aim to provide investors with absolute returns with low correlation to traditional markets.
The shift of indexes from bank providers to third parties is the culmination of several factors that have built over time, which have driven banks to tighten their focus on core competencies and fostered the rise of independent index providers.
This supplement covers all the major areas of emerging markets that matter to investors: equities, fixed income and debt and, of course, China. In addition, our experts frame the discussion in light of global economic growth, a weakening U.S. dollar and global trade uncertainty.
In this round table discussion, K. Stuart Peskin, investment director at Aberdeen Standard Investments, Danielle Singer, portfolio director, multi asset, at Invesco, and Mark Andersen, senior vice president at Callan’s Trust Advisory Group, discuss the opportunities and challenges for investors, and the outcome-orientation of multi-asset investing strategies for optimal positioning in all types of market environments.
At BMO Global Asset Management, portfolio managers David Corris and Tom Lettenberger said blending quantitative and fundamental analysis can provide investors with better opportunities in any environment.
With the pledges to integrate ESG into investment strategies so prevalent, is there a better way to benefit more directly from the world’s transition toward sustainability, one that produces dependable rates of risk-adjusted return?
This supplement digs into the areas of DC plans that are experiencing the most transformation as plan sponsors and their partners grapple with changing workforce demographics, a greater understanding of retirement readiness and how to best use the QDIA.
At PineBridge Investments, managing directors Steven Oh and John Yovanovic discuss how a multi-asset credit strategy can provide the possibility of both yield and safety in uncertain markets.
All Content Solutions are published by the P&I Content Solutions Group, a division of Pensions & Investments. The content was not written by the editors of the newspaper, Pensions & Investments, and does not represent the views of the publication, or its parent company, Crain Communications.
For more information on Content Solutions and the P&I Content Solutions Group, please contact Greg Crawford at firstname.lastname@example.org or 212-210-0424.