As the insurance market grows, insurers are also seeking novel ways to meet liabilities with a yield kick on top. In Part I of this paper, we explore if emerging market hard-currency debt can be part of the solution.

This paper explores the practical, theoretical and empirical case for an indexed approach in fixed income, outlining why passive investing came later and examining whether its growth might continue to echo, or even catch up to, that of equity markets.

The private credit market has been in the limelight in recent years, but we believe current price discounts to par offer a compelling case for investing in public credit markets.

We expect the current phase of growth and normalization to continue at least into 2025. For ultra-high-net-worth individuals and their family offices, we make the case for fully invested, globally diversified portfolios.

The U.S. equity market is the largest and deepest in the world. As such, it has been analyzed in many ways to determine the optimal means of gaining exposure. Mawer IM experts suggest that a blend of large and mid-caps may offer an effective solution.

Now that 2023 has come to a close, there has been a significant focus on the uncertainty of the US macroeconomic backdrop and its potential implications for the senior secured bank loan market. Paramount among these concerns are three key questions.

Valuations are the ultimate refuge of contrarians, and they tell us that the S&P 500 is expensive compared to historical norms even for those with a decade-long investment horizon. We consider the Shiller P/E to be one of the most reliable guides to long-term forward returns. We use it as a case study to approximate…

Many institutional investors have historically viewed secondary strategies as a beneficial allocation early in a private equity program’s life due to several potential attractive features, including J-curve mitigation, efficient capital deployment, significant diversification, and, importantly, the compelling opportunity for…

The post-pandemic economic cycle is turning. Slowing growth means corporate earnings will moderate and interest rates will peak, contributing to a trough in asset prices. Strong corporate and household balance sheets should bolster economic outcomes but may also make future policy support less likely. As a result, recession…

Real assets are tangible, physical assets that have an inherent value deriving from their attributes and usefulness. The asset class includes commodities, land, precious metals, real estate, equipment and machinery, and natural resources. Occasionally, this definition is expanded to include an element of inflation protection…

Climate change has become undeniable, and no industry has greater exposure to its risks than the insurance sector. It poses a unique threat to both sides of their balance sheets – to insurers’ assets as well as their liabilities.

In this document Robeco:

– explains the recent approach of governmental…

Granted, in terms of time frame the domestic/international asset allocation is more of a strategic rather than tactical exercise. Nonetheless, since the relative performance of hedged global bonds is rather period specific, it is worth asking the question: how does the timing for adding global hedged look now?

There has been a significant focus on the uncertainty of the US macroeconomic backdrop and its potential implications for the senior secured bank loan market.

In this paper, we review the long-term investment case for small companies and describe the design and construction methodology of the Russell 2000® Index.

Vanguard makes the case for the benefits of a fund of funds structure for suitable individual investors to access the private equity markets.

A research-based framework may help investors understand Bitcoin's unique features and risk/return characteristics as an alternative investment within a multi-asset class portfolio, and the potential role of a small allocation.

Small caps remain relatively cheap. Companies in the Russell 2000 are trading at 15.2 times projected earnings over the next 12 months, which is below the 10-year average of 16.7, according to FTSE Russell. The large-cap index’s multiple is 19.6.

This paper discusses why adding CLO equity to private-equity alternatives allocations may be worth considering.