Adapting to a shifting liquidity backdrop
UK inflation fell to 2.3% in April, its lowest level in almost three years and just shy of the Bank of England’s (BoE) target of 2%. The news may have helped spur Prime Minister Rishi Sunak into calling a surprise July election but the higher-than-expected figure – many economists forecast 2.1% – has dampened hopes […]
Filling the pool again
Summer doesn’t officially start until 21 June, but Memorial Day in the US marks the opening of public pools. That means municipalities were filling them in May with the clear, shimmering water that beckons children from coast to coast. Liquidity vehicles experienced their own flows in May (you probably knew I was headed in this […]
Bonds, bullets and barbells – what happens after yield curve inversion?
While there is no single ‘right’ approach for extending portfolio duration, there are two basic ways to consider as a starting point. For example, an investor may use a barbell approach, allocating 50% to cash and 50% to an intermediate or long-duration fixed income strategy. Conversely, the investor could choose a single investment offering a […]
Beyond the façade
Real estate debt
China: The Comeback Kid?
As contrarian investors, we believe it often pays to bet against the crowd. Bargains can sometimes be found where there is controversy and when performance has been poor. China has been the world’s unloved market since 2020, with 2023 marking the fourth consecutive year of losses for the Hang Seng Index. The US, by contrast, is […]
PM calls snap UK election:
market snapshot
(More) Questions Answered: Global Emerging Markets
What interesting investment themes are there for investors in EM outside Asia? I think the advantage of a global emerging market mandate is that it allows you a more diversified set of opportunities, a more diversified set of drivers for your portfolio. I think one of the things that we’ve been thinking a great deal […]
360°, Q2 2024:
Can strong technicals lead to stronger fundamentals?
A new hope
market snapshot
FHL Stewardship Report 2023
Fast reading Monitoring engagement outcomes is crucial in ensuring our approach is effective and achieves the desired results. As such, this report contains new and updated examples, case studies and metrics throughout to demonstrate how our approach works in practice. This year’s report features information on our first deforestation risk assessment and mitigation activities across […]
