Endowments Foundations

China's debt problem may be different from what you think

Published by: BNP Paribas Investment Partners

Debt arises when an economy transforms its savings into investment. Some observers argue that China’s debt-to-GDP ratio, estimated at close to 250% in 2015, has reached a point that could soon trigger a systemic collapse. This paper goes back to the basics to assess the situation.

Long-Termism Versus Short-Termism: Time for the Pendulum to Shift?

Published by: S&P Dow Jones Indices

Corporate sentiment, investor holding data, and secular trends highlight the short-term pressures companies face. A coalition of large-asset owners has realized the need for change and has put forth its recommendations on how the asset owner community can adopt long-termism principles.

Choices to Address Foreign Currency Exposure

Published by: Fischer Francis Trees & Watts, a BNP Paribas Investment Partner

Institutional portfolios typically hold a significant allocation of foreign currency denominated assets. Left unmanaged, this currency exposure receives little or no risk premium and adds unwanted volatility. This paper outlines best-practice solutions to be considered when addressing currency exposures.

Not All Quality is Created Equal

Published by: Jensen Investment Management

At Jensen, we define quality somewhat differently. We invite you to read the article below, as we explore the pros and cons of our unique definition of quality and how it relates to the broader market landscape through various market cycles.

The Illusion of Corporate Bond Diversification in a Balanced Portfolio

Published by: Community Capital Management, Inc.

Correlations between equity and corporate fixed income indices have historically been highest during times of negative equity returns, thus reducing the benefits of diversification. The paper discusses why taxable municipals can be a great alternative to corporate bonds in diversified portfolios.

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