March 2022: Top Papers
Top Investment Content from March 2022
March has marked the first full month of the Russia-Ukraine conflict. There has been bloodshed, sanctions, rhetoric, and an investment market trying to determine the short- and long-term consequences. In our list of the most popular and hard-hitting content of the last month are a number of detailed investment outlooks and market reviews, with practical implications for asset allocation. Other papers cover ESG and the quality factor, cybersecurity, and a VaR alternative. Don’t miss PGIM IAS’ paper on the challenges of holding illiquid private assets while also catering for member switching and early release schemes.
Super Funds, Master Trusts & Member Switching, A New Framework (PGIM IAS, 2022)
PGIM IAS puts forward a structure to aid CIOs when considering their asset allocation mix against the twin challenges of an increasing expectation to include illiquid private assets, and a need to cater for more permissive early-access programmes.
Asset Classes Views: Keeping up with climate change (Amundi, Mar 2022)
For compliance reasons, this paper is NOT accessible in the United States
This annual white paper covers asset allocation, asset class return forecasts, and more by considering the medium- and long-term investment implications of climate change. The authors explore multiple scenarios in terms of severity, probability, and timeframe.
The Interrelation Between ESG and the Quality Factor (DWS Group, Mar 2022)
To what extent is positive ESG investment performance really a reflection of exposure to the quality factor? This research considers the E, S, and G factors independently across the North America, Europe, and Emerging Markets equity regions.
Sector Primer Series: Information technology (S&P Dow Jones Indices, 2022)
This educational paper analyses the characteristics of the information technology index sector, looking at its size, composition, performance, and how it has changed over time. The sector has undergone notable change and growth in recent years.
Cybersecurity in 2022 – Insights for Private Companies (Wellington Management)
Recent geopolitical developments have brought a focus on the increased cybersecurity risks that firms are forced to face today. This article looks at types of cybercrime, its severity, and regulatory considerations before concluding with best practice advice.
Global Investment Outlook – Spring 2022 (RBC GAM)
For compliance reasons, this paper is only accessible in certain geographies
This outlook paper considers the impact of the Russia-Ukraine war on the economic and investment landscape. A comprehensive perspective covering fixed income markets globally, foreign exchange markets, and regional equity views across North America, Europe, Asia, and Emerging Markets.
Global Private Markets Review 2022 (McKinsey & Company)
This annual review of private markets offers a deep dive into private equity, real estate, private debt, infrastructure, and ESG. With private markets having seen a strong 2021, private equity is held up as a leader in both flow and performance terms.
Global Macro Strategy: The state of play (KKR, 2022)
A macro trends paper updating economic forecasts and answering pressing questions received from investors on areas such as recession probability, commodity risk, and central bank policy. The authors conclude that macro professionals and asset allocators should prioritise inflation protection, as well as pricing power by overweighting collateral-based cash flow.
North America Industrial Big Box Real Estate: Review & outlook (CBRE, 2022)
The industrial big-box market, covering large warehouses/distribution centres, is expected to stay strong throughout this year. This analysis gives an in-depth view of 23 North American markets in terms of demand and supply, demographics, logistics, workforce, and location.
Speeding Up VaR With VDR – Virtual Dimensional Reduction (Bloomberg, 2022)
Calculating ex-ante risk can be a very time- and data-intensive process depending on the size of the portfolio in question. The authors of this paper present virtual dimensional reduction (VDR) as a lower calculation, higher speed alternative.
