Brasília riots add to investor caution over Brazil
market snapshot
Emerging markets set to turn a corner?
Fast reading: Amid tech crackdowns, a struggling property sector and the fallout from its zero-Covid policy, China had a tough 2022. Will the country’s fortunes improve in 2023? Amid big hikes by the US Federal Reserve, the strong US dollar cast a long shadow over financial markets last year. How might dollar strength impact emerging […]
Our investment teams on the key themes for 2023
2022 was a challenging year which rocked financial markets and forced investors to reconsider their positioning against a backdrop of uncertainty. Russia’s invasion of Ukraine challenged Europe’s reliance on Russian commodities and caused an energy crisis; inflation soared to a four-decade high, sparking a cost-of-living crisis. Investors are understandably cautious about what might be in […]
Putting the ESG into real estate
Fast reading: ESG highlights: An overview of how our real estate investments performed on net zero, renewable energy, waste reduction, biodiversity and green certifications. How we do it: An overview of how the Real Estate team has developed its ESG integration, including governance and oversight, performance targets, due diligence and responsible management. Case studies: Fleet […]
The time is now: Creditors to negotiate stronger covenants in 2023
Conditions in global credit markets have materially changed over the course of 2022. Tightening policies by central banks to control inflation and investors’ fears of economic slowdown has resulted in a material jump in corporate borrowing costs, a significant reduction in primary issuance and a deterioration in the secondary market. However, we see a silver […]
Central banks ease pace of hikes as inflation cools
market snapshot
Beyond reopening: China’s transformation
Emerging markets have lagged developed markets this year by 6%, with China reflecting the most notable drag at -26%. However, China stocks are enjoying something of a ‘Santa rally’ amid hope Beijing will relax its strict Covid-19 measures and fully reopen its economy. The MSCI China Index jumped by 29% in November1 to deliver its best […]
Protect, sustain, restore: Why the Amazon matters
Acknowledgements: We would like to thank Dr Adriana De Palma, Dr Gareth E Thomas, Sara Contu, and Prof. Andy Purvis from the Natural History Museum for providing the data and analysis contained within this report. The Amazon rainforest, home to some 10% of known species on earth, is a lynchpin for global biodiversity. Here, the […]
Spectrum, Q4 2022
Inflation, one year on
Climate Change High Yield Credit Annual Report, 2022
Fast reading As well as the usual performance and carbon footprint data, this latest report from the Climate Change High Yield team takes a close look at how the Carbon Disclosure Project (CPD) has helped increase the accountability of companies around the world as they report on sustainability. Elsewhere, we provide an overview of how […]
