“It is in our interests to analyse ESG risk,” argued Douglas Hodge, chief executive of PIMCO in his opening address at PRI in Person, the UN-supported international network of investors working to put the six Principles for Responsible Investment into practice. Hodge set the scene for the three day conference, where delegates gathered at the … Read more
What returns can investors expect over the next five years? Equities remain our preferred asset class for the next five years, as we predict they will earn 5.5% annually for investors on the back of global growth. Government bonds however may see negative returns as rates begin to rise. These are the core predictions of … Read more
Equity prices in continental Europe and emerging markets, including China, are below fair value, and present an opportunity for investors, but the ‘entanglement of risk’ in current markets is making Brian Singer, partner and head of dynamical allocation strategies team, William Blair cautious. William Blair typically targets around 10 per cent volatility in its portfolios, … Read more
Institutional investors now dominate the free float holdings of listed companies and exchanges need to adapt to this enduring change in market structure and investor needs, according to Norges Bank Investment Management, manager of the $818 billion Norwegian sovereign wealth fund. Norges Bank, which itself owns around 1 per cent of the world’s listed stock, … Read more
The US Federal Reserve is not paying enough attention to secular forces affecting the market, according to chairman and founder of Bridgewater, Ray Dalio, who says the “risks of the world being at or near the end of its long-term debt cycle are significant”. In an opinion piece posted on LinkedIn, The Dangerous Long Bias … Read more
Fiduciary law, which creates the boundaries and rules for asset owners managing other people’s money, is evolving. The short-termism, misaligned incentives and complex and over-supply of services that characterises financial services, is under fire. Regulators around the world are increasingly looking at how to change the behaviour and supply chain dynamics in the industry, and … Read more
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