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Asset Management - Luxembourg

Thought Leadership 2011

Insights Archive

Relocalization – an emerging undertow of globalization?

2011-12-30 Over the past two decades, there has been a substantial widening of the aggregate current account balance surpluses and deficits of the G20 countries. The growing divergence has brought with it unhealthy excesses in terms of increasingly entrenched net creditor and net debtor nation developments.

Market Update December - Risk averse behaviour continues

2011-12-21 Investor behaviour is being driven towards areas where default/restructuring risk is minimal, where liquidity is protected and where income flows are sustainable. This suggests a focus on income generating assets, such as corporate bonds, EMD, high dividend equities, real estate and infrastructure.

Fixed Income Outlook: The Search for Yield

2011-12-02 Investors in developed nations are challenged with reconciling lower returns on assets with rising liabilities due to falling discount rates. John Popp, Global Head of the Credit Investment Group, reviews options for investors seeking to mitigate these challenges. Download the paper for complete details.
View the webcast.

Asset Management's Q4 Alternatives Quarterly

2011-10-26 In this edition of the Alternatives Quarterly, we discuss drivers of recent volatility, especially the ongoing European debt crisis. Additionally, our leading strategists and alternatives portfolio managers review select opportunities in their respective strategies, in light of the challenging environment.

Market Update October – Comment by Robert Parker

2011-10-21 The improvement in production and exports should lead to an uplift in US growth over the next 6 months to 2-2.5% annualised. However, European growth will struggle to reach 1% annualised over the next 12 months, while the speed of Japan’s recovery from the earthquake/tsunami has also clearly slowed.

Are Emerging Markets Today as Resilient as in 2008?

2011-10-12 In the aftermath of the 2008 global financial crisis, many emerging countries were able to recover more quickly than their developed counterparts. Can this scenario be repeated during the current slowdown? Watch the video and download the paper for more information.

Hedge Fund Investing: How to Optimize Your Portfolio

2011-10-07 In a post financial-crisis environment, how can investors address potential risks associated with hedge fund investing?
The paper discusses how hedge fund replication can help address these challenges while potentially providing alternative-like returns.

Trends – Investment Alternatives

2011-09-30 When business as usual no longer leads to the results
we aim for or need, it is time to seek alternatives. One can either find
a new way of doing things or one can explore new fields. And even
as the cutting edge gets pushed back further, what was once exotic becomes commonplace.

Real Assets: Inflation Hedge Solution Under a Modified Risk Framework

2011-09-23 Many investors have been challenged with constructing portfolios in the "new normal" investing environment. The ISS team tackles these issues and makes the case that an optimized real assets portfolio using a modified risk framework can help addresses these challenges. Watch the video and download the paper for more information.

Economic slowdown, but opportunities in financial markets

2011-08-24 The rebalancing of consumer and government balance sheets are constraints on US growth, while the eurozone continues to be hampered by the smaller economies. However, despite the sell-off in equities, their case remains intact, including cheap valuations, high yields and high levels of investor cash.

Commodities Outlook: Increased Volatility, Increased Opportunity?

2011-08-17 The paper examines the recent rise in the volatility of commodity prices within the context of a longer-term, secular trend of increasing volatility and how investors can best position their portfolios in this environment going forward.

The structured investment process – key to success

2011-08-02 The investment process and in particular the optimal risk budgeting (ORB) approach enable us to manage various kinds of multi-asset class portfolios consistently under a single investment process.

Opportunities in financial markets despite slowing growth

2011-07-19 Since March there have been signs of a slowdown in the global economy, such as an end of quantitative easing in the US and fiscal tightening in Europe. However, despite these headwinds, there are a number of factors that give cause for optimism about global GDP growth over the next few months.