Our team of expert economists, researchers and strategists bring clarity to the latest market trends and developments that matter
Yield up as global growth momentum strengthens
18.04.2019 Activity data in China for the first quarter came in stronger than expected. Notably, industrial production rose 8.5% y/y in March, the fastest pace in 4½ years...
CIO Update: Reduced portfolio risk
04.04.2019 Markets are likely to shift into consolidation mode after the strong first-quarter rally in all risky assets. This has prompted us to take profits on some of our positions...
Global View Q2 2019
05.03.2019 Global growth is set to slow further in the near term. But we expect the world economy to rebound somewhat in the second half of the year, in part reflecting looser macroeconomic policy in China...
Europe kicked the can down the road...again
12.04.2019 The ECB Governing Council was light on detail regarding possible twists to its instruments, such as the pricing of the new TLTROs or measures to mitigate the side effects of its negative deposit rate on banks’ profitability...
March PMIs ease recession fears
05.04.2019 A week is a long time in markets. The stronger-than-expected March readings of the manufacturing PMIs in the US and China have tamed fears that the end of the global expansion was approaching fast...
Is the bond market wrong?
29.03.2019 It is usually unwise to bet against the bond market, but there are plenty of reasons to think that it is wrong in predicting a looming recession the US...
The Fed is not done
22.03.2019 The unexpectedly dovish statement that followed the conclusion of this week’s FOMC meeting means that we now expect the next increase in the Fed Funds rate to be delayed until December...
CIO Update: Green shoots lift equities
08.03.2019 Financial markets, buoyed by a return of liquidity, experienced a strong uptrend in the first two months of this year. Cautious central banks should provide markets with support in the coming months as well...
CIO Update: Hunt for yield is back
07.02.2019 Financial markets recorded a very positive start to the new year across all asset classes. But in contrast to last year, this was not triggered by strong economic data...
CIO Update: Tricky year ahead in 2019
10.01.2019 2018 fell well short our expectations for the investment year. In an unusual turn of events, just about every asset class delivered negative returns and, as a result, investors searched in vain for safe havens.
Global View - Outlook 2019
26.11.2018 Recent weeks have been marked by sharp fluctuations in financial markets. At first, global stock markets appeared to recover from their October lows, only for prices to be dragged down by uncertainties around the future....
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Read more about our pioneering thought leadership and research on investing sustainably
Active Ownership is making an impact
01.04.2019 When it comes to the concept of sustainable investments, many investors still only think of exclusions for the time being. However, the range of instruments has been greatly expanded over the years.
Hazardous chemicals - or the new carbon
12.12.2018 Chemicals are increasingly present in everyday consumer products: from plastics and clothes to flame retardants in mattresses and couches.
Sustainability - a key factor for real estate
07.01.2019 Electromobility is on everyone's minds: as an investment theme, as a fun factor, but above all as a solution to climate change. However, it is less well known that the real estate sector is also an important jigsaw piece in the fight against global warming.
Active ownership - reaching record levels in 2018
02.10.2018 Assets under management for investment strategies that integrate engagement and proxy voting are growing continuously.
Global challenges and investment themes
26.09.2018 The summer of 2018 has brought an unprecedented heatwave to the Northern hemisphere. Forest fires have raged from Sweden down to Greece, claiming the lives of many victims.
Living among robots
29.08.2018 Technological progress and economic growth have triggered an unprecedented expansion phase of robotics adoption and applications across sectors.
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Delve deeper and learn about the investment strategies that set us apart
Investing in sustainable long-term thematic equities
Institutional Spotlight: Why invest in Total Return strategies?
29.03.2019 In this issue, we discuss the attraction of unconstrained fixed income strategies and how this investment style can be relevant for many institutional clients. In contrast to equities, active fixed income managers tend to outperform their passive peers, in part due to several drawbacks that come with trying to replicate a fixed income benchmark.
Advantages in investing in European smaller companies
High yield bonds with a sustainable angle
Beating low yield with a Global Multifactor Strategy
What sets our Tech Disruptor Strategy apart
Institutional Spotlight: An adaptive allocation to overcome challenges for the pension system
We discuss several challenges faced by many pension systems today, including changing demographics, depressed long-term expected returns and the prospect of a cyclical downturn…
Institutional Spotlight: Commodities in a portfolio context
Although the performance of commodities has been disappointing in recent years, we see fundamental reasons why it should not be overlooked…
Interview: Caution, Disruption Ahead!
01.2018 Portfolio manager Tomasz Godziek discusses his views on technology disruption…