Insights
Video
In the News: Charles Kantor featured on Bloomberg US Markets
Charles Kantor, Senior Portfolio Manager, The Kantor Group recently appeared on Bloomberg US Markets to discuss the current volatility in the equity markets and why he believes companies with solid balance sheets and business models will likely prevail during this period of uncertainty. Charles also shared his thoughts on why he believes this is different than the Global Financial Crisis of 2008.Portfolio Manager Update
European Fixed Income Market Update
In this video, Investment Grade European Fixed Income Head, Patrick Barbe provides an update on current conditions across bond markets, explaining what he believes marks an important turning point in the current situation. He also offers his outlook and an update on positioning, considering potential trends such as a shift away from globalization towards more domestically-oriented growth prospects.Podcast
The Health Care Sector through a COVID-19 Lens
On Thursday, April 2, Senior Health Care Analyst, Terri Towers, spoke with us to discuss her views on the implications of COVID-19 on the healthcare sector. Looking at the progression and outlook for the pandemic, Terri focuses on the impact on the healthcare industry itself: where are the stressors, which areas will be hit the hardest and what is the long-term view of the impact to this sector.Portfolio Manager Update
Small Cap Equity Market Update
Benjamin Nahum, Neuberger Berman Small Cap Equity Portfolio Manager, discusses how small cap equities performed amidst the market sell-off in the first quarter of 2020 and provides an update on portfolio positioning.CIO Update
Macro Insights and Asset Allocation
Erik Knutzen, Chief Investment Officer – Multi-Asset Class Strategies, discusses why he believes the market volatility that has characterized this environment will continue to persist along with highlighting select areas that may present opportunities for investors.Insights
Do Banks Have a Liquidity Problem?
Many Institutions are in strong financial shape, while recent issuance reflects prudence in the face of crisis.Portfolio Manager Update
EAFE Equity Market Update: Volatility Persists
Benjamin Segal, Neuberger Berman EAFE Equity Portfolio Manager, provides an update on non-U.S. developed equity markets and how the impact of COVID-19 varies across and within regions.Portfolio Manager Update
Real Estate Securities Market Update
In this short video, Gillian Tiltman, Portfolio Manager of the UK and Continental European portion of Neuberger Berman’s Real Estate Securities Group offers an update on real estate markets. Gillian explains why some of the longer-term secular demand trends her team have been focused on are now being highlighted by the current situation. She also updates on positioning across portfolios.Portfolio Manager Update
Currency Market Update
In this video, Neuberger Berman’s Head of Global Currency, Ugo Lancioni provides an update on currency markets during the current period of volatility. Ugo reviews how global currencies have been impacted by the situation, outlining key drivers of FX markets. He also explains how he aims to identify the winners and losers amid the current dynamics.Expert Update
Credit Dynamics
Senior credit professionals Ashok Bhatia, Deputy CIO in Fixed Income, David Brown, Co-Head of Global Investment Grade Fixed Income, Susan Kasser, Co-Head of Private Credit and Joseph Lynch, Global Co-Head of Non-Investment Grade Credit discuss the market implications and potential opportunities arising from the recent unusual market dynamics.Portfolio Manager Update
Hedge Fund Market Update
Jeff Majit, Co-Head of NB Alternative Investment Management, discusses how various segments of the hedge fund market have performed during the recent period of heightened market volatility and how his team is positioning portfolios during this uncertain time.CIO Weekly Perspectives
A Tale of Two Markets
March was the worst of times for financial markets, and yet the best of times for primary issuance of investment grade credit.Systematically Speaking
Risk Parity and the Fallacy of the Single Cause
Were risk parity strategies really the cause of the recent correlated stock and bond market sell-off, or one of its victims?Insights
China Recovers
China was the first economy to be struck down by COVID-19, but that means it is the first to recover—and its onshore bond and equity markets may be a good place to get exposure.Portfolio Manager Update
Fixed Income Market Update: “A Week of Healing”
Thomas Sontag, Neuberger Berman Investment Grade Fixed Income Portfolio Manager, provides an update on the investment grade fixed income market and discusses how the U.S. mortgage-backed securities market fared over recent weeks.Portfolio Manager Update
Small Cap Equity Market Update
Judy Vale, Neuberger Berman Small Cap Equity Portfolio Manager, provides an update on the small cap equity market for the first quarter of 2020 and portfolio positioning amidst this period of market uncertainty.Portfolio Manager Update
Large Cap Growth Investing During a Volatile Time
Jason Tauber, Neuberger Berman Large Cap Growth Portfolio Manager, discusses how growth stocks have performed amidst the recent equity market decline and provides an update on portfolio positioning.Portfolio Manager Update
Real Estate Securities Update: Market Reacts to Stimulus Package
Steve Shigekawa, Neuberger Berman Real Estate Securities Portfolio Manager, discusses the impact of the recently approved fiscal and monetary stimulus packages and portfolio positioning in light of the economic slowdown.Insights
Investment Grade Credit: Open For Business
The new-issue market remains available to investment-grade corporate credit, thanks to swift and sizeable monetary support from the Federal Reserve.Portfolio Manager Update
CLO Market Update
Pim van Schie, Neuberger Berman Non-Investment Grade Credit Portfolio Manager, discusses market activity for CLOs over the past month and the team’s approach to navigating the risks associated with the sell-off in the non-investment grade fixed income market.Portfolio Manager Update
Municipal Market Perspectives
James Iselin, Head of Neuberger Berman Municipal Fixed Income, recaps the unprecedented volatility experienced in the month of March. He also discusses the outlook for municipals and the resiliency of muni credit versus corporate fixed income.Portfolio Manager Update
Uncorrelated Strategies Market Update
In this short video, Portfolio Manager, Fred Ingham provides an update on current conditions across uncorrelated strategies, offering his thoughts on both the short and longer-term impacts of COVID-19 on asset markets. He also updates on the positioning of Neuberger Berman’s portfolios.Portfolio Manager Update
Equity Market Perspectives
Richard Nackenson, Neuberger Berman Equity Portfolio Manager, comments on the unprecedented level of volatility that has characterized the markets over the past month and how this time period compares to historical periods of market stress.Expert Update
China Private Equity Markets Update
The recent outbreak of COVID-19 in China has led to significant impacts on businesses and industries. With the country’s economic activities picking up, Lydia Hao, Principal, Asia Private Equity, provides an update on what happened in the China private equity markets, and how China GPs are navigating the uncertainty and identifying opportunities.White Paper
Navigating Volatility in Global Non-Investment Grade Credit Markets
High yield spreads and loan prices appear attractive for long-term investors, in our view.Asset Allocation Committee Outlook
Contagion
Should investors consider loading up on the riskiest assets when markets begin to stabilize? After a valuation adjustment of this magnitude, that probably isn’t necessary. The markets are unlikely to run away from us.Portfolio Manager Update
EMD Market Update
Gorky Urquieta, Co-Head of the Neuberger Berman Emerging Markets Debt Team, discusses the factors that contributed to the sell-off of EMD assets over the past month and how the team is positioning portfolios in this volatile market environment.Video
Market Volatility | Closing Bell Insights
On this episode of Closing Bell Insights, Joseph V. Amato, President and Chief Investment Officer of Equities, shares his market update and insights after the closing bell, including potential implications for investors.Portfolio Manager Update
High Yield Market Update: Volatility Persists
Christopher Kocinski, Neuberger Berman U.S. High Yield Senior Portfolio Manager, discusses the factors that have contributed to the volatility in the non-investment grade credit market and how his team has adjusted portfolios as spreads have widened.Portfolio Manager Update
Perspectives on Volatility
Charles Kantor, Neuberger Berman Equity Portfolio Manager, shares his perspectives on the volatility that has characterized the markets over the past month and discusses how this downturn compares to the one that occurred in 2008.Insights
Audio Insight: The Course of COVID-19
Terri Towers, Senior Healthcare Research Analyst looks at the current progression of the COVID-19 pandemic as well as her views on inflection points and treatment timelines.Portfolio Manager Update
How Could Covid-19 Affect 5G?
The way we live, work and learn has shifted markedly since the Covid-19 outbreak. With greater reliance on online resources, we see an increased demand for faster network speeds that could be enabled by 5G. How could the pandemic affect 5G rollouts? Where are the opportunities? Watch YT Boon, Director of Research – Asia, as he shares his insights on the demand for this service.Portfolio Manager Update
EM Equity Market Update
Marco Spinar, Neuberger Berman Emerging Markets Equity Portfolio Manager, discusses changes in the EM equity market over the past two weeks and how his team is managing through economic uncertainty prevalent across EM countries.Insights
Have We Reached Herd Immunity?
Understanding the trajectory of the Coronavirus is a core aspect of seeking to control the outbreak, and is also highly relevant to the task of investors as they look to position themselves effectively in current market volatility. Our Chief Data Scientist explains what the data is saying about the spread of COVID-19.Portfolio Manager Update
Equity Market Perspectives
Sandy Pomeroy, Neuberger Berman Equity Portfolio Manager, discusses how higher yielding segments of the equity market have held up amidst the recent equity market decline and areas of the market where she is seeing opportunity.CIO Update
Macro Insights and Asset Allocation
Erik Knutzen, Chief Investment Officer – Multi-Asset Class Strategies, discusses the impact of last week’s Fed actions and stimulus package along with how this decline is different than 2008 in terms of markets and investment implications.CIO Weekly Perspectives
Safety First
After a big sell-off, many fear missing the rebound—but we expect more volatility and think the time for opportunism will come later.Expert Update
Perspectives on Liquidity
Anne Brennan, Chief Risk Officer and Ken DeRegt, COO for Fixed Income, share their insights on managing liquidity in today’s markets, with a look at how this compares to 2008.Portfolio Manager Update
Fixed Income Market Update
David Brown, Co-Head of Global Investment Grade Fixed Income, provides an update on how recent support from the Fed has impacted the fixed income markets and how his team is navigating this uncertain time.Portfolio Manager Update
Sustainable Equity Investing in An Uncertain Market
Ingrid Dyott, Neuberger Berman Sustainable Equity Portfolio Manager, discusses recent government efforts to stimulate the economy and how sustainable companies are faring in the current market environment.Portfolio Manager Update
China Bond and Equity Markets Update
China was the first economy to be struck down by COVID-19 and looks to be the first to come out the other side. Peter Ru, Senior Portfolio Manager, China Fixed Income Strategy Leader and Meng Ning, Senior Portfolio Manager, China A-Shares provides an update on how the economy is recovering, what happened in China bond and equity markets, and what are the unknowns and opportunities ahead.Expert Update
Using Data Science to Bring Order to the Disruption
Michael Recce, Chief Data Scientist, discusses the data sets his team is analyzing to help us look at trends that may give some insight on the path for a return to normalcy in both public health and the economy.Portfolio Manager Update
Global High Yield Market Update
In this video update from Senior Portfolio Manager, Vivek Bommi, we review conditions across global non-investment grade bond markets and offer our outlook for the asset class.Insights
Four Things to Remember in a Market Downturn
Volatility, diversification and the merits of long-term investingPortfolio Manager Update
Large Cap Value Investing During A Volatile Time
Eli Salzmann, Neuberger Berman Large Cap Value Equity Portfolio Manager, provides an update on large cap equity markets and why the tide might be turning towards value investing.Expert Update
The Significance of ESG Integration
Jonathan Bailey, Head of ESG Investing at Neuberger Berman, looks at how companies are responding in the crisis and the significance of sound ESG policies in today’s markets and going forward.Portfolio Manager Update
Small Cap Equity Market Update
Gregory Spiegel, Neuberger Berman Small Cap Equity Portfolio Manager, provides an update on small cap equity markets and portfolio positioning amidst this period of market uncertainty.Portfolio Manager Update
Corporate Hybrid Bonds Market Update
In this short video, Senior Portfolio Manager, Julian Marks provides an update on current conditions within corporate hybrid bond markets, outlining the biggest unknowns and updating investors’ on the current positioning across Neuberger Berman’s portfolios.Portfolio Manager Update
High Yield Market Update
Joe Lind, Neuberger Berman High Yield Portfolio Manager, discusses factors driving the high yield market and strategy positioning during an uncertain time.Portfolio Manager Update
Navigating a Challenging Municipal Bond Market
James Iselin, Head of Neuberger Berman Municipal Fixed Income, discusses unprecedented yields and portfolio positioning amidst this period of market volatility.
Insights
Unique Disruptions, Exceptional Measures
As we argued in our previous piece detailing the Fed’s 100bps cut and increased asset purchases, although the Fed had unloaded countless rounds of ammunition, additional firepower remained.Portfolio Manager Update
Navigating a Challenging Small Cap Equity Market
Kenneth Turek, Neuberger Berman Small Cap Growth Portfolio Manager, discusses uncertainties facing small-cap investors and portfolio positioning for a challenging market environment.Portfolio Manager Update
Emerging Markets Debt Market Update
In this brief video update, Rob Drijkoningen, Co-Head Emerging Markets Debt, provides an update on markets and current positioning, offering his views on the most important factors affecting investors at the moment.Insights
Corporate Hybrid Bonds for Insurance Investors
To overcome the low-yield problem, European insurers are eager to identify assets that offer the right balance between quality and return.Portfolio Manager Update
Volatility and Options Markets: Uncertain Times; But Not Unprecedented
Derek Devens, Portfolio Manager from Neuberger Berman’s Option Group, discusses uncertainties facing investors and their implications for option premiums.CIO Update
Macro Insights and Asset Allocation
Erik Knutzen, Chief Investment Officer – Multi Asset Class Strategies, discusses uncertainties facing investors and where they may turn to seek “quality investments and quality yields” when re-allocating risk assets.CIO Weekly Perspectives
Shock and Awe
Does this week’s multitrillion-dollar shot in the arm vaccinate the economy against the worst impact of COVID-19?Portfolio Manager Update
EM Equity: Managing Through “Indiscriminate Selling”
Conrad Saldanha, Senior Portfolio Manager from Neuberger Berman’s Emerging Markets Equity Team, discusses how he's navigating the turbulent market in both a macro and fundamental context.Portfolio Manager Update
International Equity Investing During A Turbulent Time
Elias Cohen, Portfolio Manager on the Neuberger Berman International Equity Team, provides an update on the non-U.S. developed equity markets and strategy positioning in a volatile market environment.Portfolio Manager Update
Navigating a Volatile Fixed Income Market
David Brown, Global Co-Head of Investment Grade Fixed Income, provides an update on the fixed income markets and strategy positioning during an uncertain time.Portfolio Manager Update
Navigating Disruption in the REITS Market
Brian Jones, Co-Portfolio Manager from Neuberger Berman’s Real Estate Securities Group, provides an update on the listed real estate market and strategy positioning amidst this period of heightened market volatility.Insights
Emergency Landing to the Zero Bound
Two weeks after reducing its policy rate by 50 bps to 1.25%, the Federal Reserve met Sunday in lieu of its scheduled meeting on March 18th and cut rates by a further 100 bps, effectively returning to the zero lower bound. The central bank also announced a host of other measures aimed at supporting the financial markets, and by extension, the real economy.CIO Weekly Perspectives
High Drama in High Yield
Coronavirus and the OPEC price war combine for a one-two punch to high yield markets.Insights
Update on Global Non-Investment Grade Credit Markets
We unpack the short-term and long-term, transitory and permanent impacts of recent news on the high yield and loan markets.Podcast
Will Fallen Angels Drive the Market? A Look into BBB Bonds
With about half of the investment-grade credit market categorized as BBB, investors have been keeping an eye on volatility, but growth might still be the right outlook.CIO Weekly Perspectives
Prepare for the Long Haul
Why the major uncertainties twisting markets out of shape today are likely to persist for months.Insights
Digital Drivers of Real Estate Opportunity
Shifts in technology are contributing to a new landscape for growth in the listed real estate universe.CIO Weekly Perspectives
Coronavirus: A Moving Target
If you haven’t reduced risk, it’s probably not too late to do so; if you are already conservatively positioned, it may be too early to buy the dips.Systematically Speaking
Disappearing Alpha & Hidden Beta—A Sleight of Hand
Comparing Option Strategy Indices and Hedge Fund Indices before and after the 2008 ꟷ 09 financial crisis reveals that what many investors thought was “alpha” was just an illusion.Video
Dyal Capital Partners’ Michael Rees on Investing in Private Capital
Watch Neuberger Berman's Managing Director Michael Rees chat on "Bloomberg Markets: The Close."CIO Weekly Perspectives
Will Kraft Heinz Spoil the Credit Markets?
We see the food giant’s recent downgrade as idiosyncratic and at odds with generally stable financial conditions.Insights
Checking in on BBBs
Improved credit conditions are reflected in spreads, but volatility may create opportunities.Article Reprint
Neuberger Berman Adds $4bn Private Real Estate Business
A recent article published by PERE details about Neuberger Berman’s purchase of New York-based Almanac Realty Investors, marking its largest acquisition to dateArticle Reprint
Neuberger Berman Gets Its Sherlock On
Maarten Nederlof, Head of Portfolio Solutions (Americas) at Neuberger Berman, discusses how he is seeking to help clients achieve a better understanding of alpha, traditional premia and alternative premia in their investments, and assisting clients in better managing risk and addressing gaps in portfolio exposures.CIO Weekly Perspectives
Smarter Strategies, Smartly Implemented
Risk management can be more informed when it draws on the full range of quantitative, fundamental and data-science insights.White Paper
Life after LIBOR: Two Years and Counting
An update on what regulators, markets and Neuberger Berman have been doing to prepare for the transition from LIBOR.Podcast
Generating Alpha Through Data Science
Data science is a new tool that can enhance traditional fundamental investment research, potentially sparking a revolution in active management.CIO Weekly Perspectives
Coronavirus: The View From China
Aggressive public health, monetary and fiscal interventions appear to be taking effect.Article Reprint
Neuberger Berman First U.S. Asset Manager to Ink ESG-Linked Loan
A recent article published by Bloomberg highlights Neuberger Berman as the first North American financial services firm to sign a sustainability-linked loan which will be benchmarked annually against key ESG metrics.Insights
Another Breakthrough Year for China Bonds
The market made it into global indices but also broke records for defaults in 2019 and is facing uncertainty from the coronavirus: we take stock for 2020.White Paper
Mitigating Inflation Risk at Lower Opportunity Cost
Inflation-mitigating allocations can drag on returns when inflation is subdued: diversifying and tactical allocation can help.White Paper
The Data Science Revolution
How the new richness and accessibility of data, and advances in data science, are enhancing both quantitative and traditional fundamental investment research—and sparking a revolution in active management.CIO Weekly Perspectives
The Coronavirus and Portfolio Risk
We hope for rapid containment of the coronavirus outbreak, but believe it is too early to make big investment decisions.Podcast
The Reality of Retail: Apocalypse or Renaissance?
The retail landscape has undergone a transformation as changing consumer preferences and technological advances disrupt the sector.CIO Weekly Perspectives
Credit 2020: Bull or Bear?
At our Solving for 2020 conference in London, we debated the outlook for credit in the simplest possible terms.CIO Weekly Perspectives
Brand Ambassadors
How investors can transform brand loyalties into brand royalties.Fixed Income Investment Outlook
Stable Growth, Policy in Transition
Perspective on growth, interest rates, and opportunities and issues across the fixed income landscape.Podcast
CLOs and Late Cycle Credit Investing
How should investors be thinking about the loan market as the bifurcation in credit continues?Asset Allocation Committee Outlook
Risks Rebalanced
A less cautious stance, with upgrades for pro-cyclical sectors and regions—including non-U.S. equity markets, U.S. credit, and emerging markets debt and equity.White Paper
The Solvency Sharpe Ratio: Strategic Asset Allocation for Insurers
New approaches to Strategic Asset Allocation for increasingly complex insurance balance sheets.CIO Weekly Perspectives
Do Middle East Geopolitics Matter?
Factors closer to global economic fundamentals should win out in 2020, and on balance we are prepared to maintain risk in our views.Investment Quarterly
Why WeWork Didn’t
The rental company’s IPO debacle highlights the importance of fundamental research and corporate governance.Investment Quarterly
Looking Out for Political Risk
Elections, policy and protests could have a major impact on markets in 2020.Investment Quarterly
In Small Caps, Be Wary of ‘the Market’
Looking past indices and taking a long-term perspective are keys to investment within U.S. small-cap equities.Investment Quarterly
Demystifying Private Markets
Characteristics, forces behind their recent boom, and circumstances in which they may “work” for individual investors.Investment Quarterly
Caution, Politics Ahead
After a standout year, markets remain healthy but could face new disruptions.Investment Quarterly
Investing in Innovation
Technological change is creating new thematic opportunities across markets.CIO Weekly Perspectives
Outlook 2020
The heads of our investment platforms welcome the New Year with their views for 2020.Video
Thematic Investing at Neuberger Berman
Why we believe Thematic Investing offers significant opportunities for growth.Systematically Speaking
Fixed Expense Investing
Low and even negative yields have turned some fixed income investing into “fixed expense” investing—but there are still good reasons to hold negative-yielding bonds.Podcast
Disruption Outlook: The Political Game of Breaking up Big Tech
How might the technology sector fare as antitrust claims put tech giants under fire?Insights
Commitment on Climate
Our Sustainable Equity team explores a recent engagement on measurement of carbon emissions.CIO Weekly Perspectives
Deflated Expectations
Economic recovery in general, and inflation-linked bonds in particular, have become undervalued in Europe.White Paper
Equity Portfolio Construction: Filling the Gap Between Alpha and Beta
Separating equity alpha and beta is a good first step—but could investors be doing more in the space left between them?Podcast
Disruption Outlook: Trade War & Tariffs
In emerging markets, it is critical for investors to separate signals from the noise as uncertainty around trade policy continues.Video
Froth Fears in the Credit Market
Susan Kasser, Co-Head of the Private Credit explains that amount of direct lending doesn't necessarily indicate "Froth" on “Bloomberg Money Undercover”CIO Weekly Perspectives
Holiday Spending
Shoppers are out in force, but are businesses and governments catching the holiday spending spirit, too?White Paper
Simply Put(Writing)
PutWrite strategies can improve the risk-return efficiency, liquidity, flexibility and cost-effectiveness of investor portfolios.CIO Weekly Perspectives
Lat-Am Spring?
The succession of political upheavals in South America resist easy categorization.Article Reprint
Taking Advantage of a Downturn: Tips for the Distressed and the Opportunistic Private Credit Investors
Susan Kasser, Co-Head Private Credit, shares her thoughts with SuperReturn 365 on the risks we might see in an eventual downturn, and how we can turn them into positive opportunities.Insights
Asia Bonds: Tactical Value for a Long-Term Opportunity
Asian debt exhibits robust fundamentals and bright long-term prospects, with attractive yields.Podcast
Disruption Outlook: The Politics of Healthcare
Where are investors finding opportunities as the healthcare sector faces political uncertainty?CIO Weekly Perspectives
Social Tensions
Social media makes political risk turn up in unexpected places, with more sudden impact—and portfolios may be more exposed than we realize.Systematically Speaking
Two Cultures, One Aim
How genuine collaboration between quantitative and fundamental analysts can enhance stock selection and portfolio construction.Video
Private Markets Will Continue to Disrupt Traditional Markets
In a recent interview on "Bloomberg Money Undercover," Tony Tutrone, Global Head of Alternatives at Neuberger Berman, discusses why he believes private equity is poised to outperform public markets even as buyout firms deal with high valuations and aggressive capital structures.CIO Weekly Perspectives
The Political Economy
As confidence in the economic data grows, wariness about political uncertainty and “fiscal dysfunction” is as elevated as it has been in years.Podcast
Human Capital Management and Investment Decision-Making
Investors are increasingly interested in how companies are managing their workforce to drive growth and profitability over the long-term.Insights
Solving for 2020: "Fiscal Dysfunction" Unmasked
The heads of our investment platforms identified the key themes they anticipate will guide investment decisions in 2020.CIO Weekly Perspectives
Catch-Up Potential for EM FX
As growth bottoms out and tail risks ease, attractive valuations support the case for emerging markets currencies.CIO Weekly Perspectives
Buying Time
Consumers and central banks need help from businesses and governments to sustain the economy.Podcast
Quantamental: A New Dimension of Active Investing
The collaboration among quantitative and traditional investors are complementing and enhancing the investment process, sparking a revolution in active management.CIO Weekly Perspectives
Mercury Too High, Rates Too Low
At the World Bank and IMF annual meetings, two concerns dominated: climate change and negative interest rates.Insights
Emerging Markets Equity: Active Opportunities, Beyond Benchmarks and ETFs
Active management of emerging markets equity portfolios has the potential to offer demonstrable advantages over ETF investing in terms of performance and long-term strategic positioning, among other consideratons.CIO Weekly Perspectives
Time to Get Off the Sidelines?
Things may be bottoming out.Systematically Speaking
The Alpha Left on the Table?
The 60/40 portfolio looks “efficient”—until we drop the no-leverage constraint.Asset Allocation Committee Outlook
Asset Allocation Committee Outlook 4Q2019: Two-Tier Growth Revisited
As the markets exhibit two-tier performance and the global economy edges back toward two-tier growth, the AAC has adopted a two-tier view.Podcast
Private Credit: The Rise of a Core Asset Class
Private credit has established itself as an emerging leader in the alternatives space, becoming a key source of long-term finance for borrowers globally.CIO Weekly Perspectives
Challenges Ahead
The events and data of recent weeks make us want to err on the side of caution.Insights
Governance: Hiding in Plain Sight
Corporate governance remains relevant as a research tool and an anchor for ESG investing.Investment Quarterly
Rebalancing and Taxes: A Classic Conundrum
Resetting portfolio exposures periodically can help minimize the pain of taxes.CIO Weekly Perspectives
Recession in the Making?
Jobs market data suggests that the manufacturing slowdown is not metastasizing into full recession—for now.Podcast
Disruption Outlook: Negative Rates
What are the investment implications of this unusual bond market environment?Insights
Engagement, Municipal Style
Working with municipal bond issuers is a subtle art, and has more potential in some areas than others.Fixed Income Investment Outlook
Fixed Income Investment Outlook 4Q2019: Recession Angst vs. Recession Realities
Though some economies are already seeing weakness, confidence shocks elsewhere could undermine solid fundamentals.CIO Weekly Perspectives
Building Momentum
We believe the underappreciated growth story in REITs has many years yet to play out.CIO Weekly Perspectives
Resilient or Reckless?
Extraordinary events are buffeting markets, but equity indices sail on.Insights
Next-Generation Mobility: It’s About the Journey
Finding opportunities along the road to fully autonomous electric vehicles.Insights
Global Corporate Credit ESG Engagement Report
Environmental, social and governance (ESG) risks continue to impact the global credit markets, and over the last year investors have had to contend with ESG risks ranging from environmental incidents, money laundering allegations and unethical healthcare pricing practices to new and evolving risks such as cyber security.Podcast
Impact Investing: A Shifting Mindset Across Public and Private Markets
Impact investing has come to the forefront as investors have increased interest in understanding the social and environmental impact of their portfolio alongside investment performance.CIO Weekly Perspectives
Reversal
Gloomy market trends have collapsed. So, are investors less gloomy about the economy?CIO Weekly Perspectives
Collateral Damage
China and the U.S. are perhaps the biggest source of current investment risk, but not the most exposed.Insights
Total Portfolio Impact in Investment Management
How different investment strategies across asset classes can contribute to the overall impact of a total portfolio.Insights
Negative Interest Rate Policy: Could It Happen in the U.S.?
The Fed seems more likely to focus on a range of policy tools.Podcast
Activist Investing: The New Normal
Shareholder activism has gained traction among investment managers as a means to implement meaningful change to improve long-term profit potential.CIO Weekly Perspectives
Toxic Mix of Politics and Policy
It’s official: We’ve moved into another dimension.CIO Weekly Perspectives
Navigating Summer Squalls
Managing volatility and maximizing opportunities in the late cycle.Podcast
Late Cycle Investing: What’s Next?
What can investors expect as the next downturn seems inevitable?CIO Weekly Perspectives
Forget the Barometer
We don’t need an inverted yield curve to tell us a global manufacturing downturn may be underway.Systematically Speaking
PutWrite Goes Global
The launch of CBOE’s ex-U.S. PutWrite indices could help build momentum for these strategies.CIO Weekly Perspectives
Dog Days of August?
News flow has turned ugly again, but equity markets are a long way from irrational exuberance.Podcast
FinTech: Competitor or Collaborator?
FinTech innovations have changed consumer expectations around financial services—will the incumbent players be displaced, or have they found a way to collaborate?CIO Weekly Perspectives
Opportunity Knocks in Inflation
As investors take temporarily weak inflation to be structural, it creates potential value in TIPS.CIO Weekly Perspectives
Factful Optimism
Why I am packing Hans Rosling’s Factfulness for this year’s vacation reading.Investment Quarterly
Investment Quarterly: Summer 2019
In this issue of Investment Quarterly, we offer perspectives to help investors navigate the currently shifting climate and ongoing challenges in seeking to maintain and build wealth.Podcast
Climate Change: A Growing Investment Consideration
Companies must adapt as investors increasingly incorporate climate change considerations into their portfolios to achieve sustainable returns and avoid risk.CIO Weekly Perspectives
The Final Approach
Last week’s data shows that we may be levelling out for a soft landing.Insights
Ten for 2019—Midyear Update
The heads of our four investment platforms revisit the key themes they anticipated would guide investment decisions in 2019.Insights
Unlocking Inflation
After a decade of disappointment on prices, what can the Federal Reserve do to set the right course?Insights
U.S. and China: The Long Road Ahead
Continued trade tensions and periodic flashpoints will likely become the norm.Insights
The Preferred Income Advantage
In an environment of exceptionally low bond yields, preferred shares may provide an opportunity to boost income.Insights
Rebounds, Records and Uncertainty
A reminder about investment principles emerges in a transitional environment.Insights
Investing Deep in the Cycle
As the US economic expansion moves past the decade mark, we offer three ideas to help keep portfolios on course.Asset Allocation Committee Outlook
Asset Allocation Committee Outlook 3Q2019: Beneath the Surface
Headline economic data and index performance conceal more interesting stories of complexity and opportunity.CIO Weekly Perspectives
Don’t Fight the Fed
Brace for the first rate cut in a decade—but don’t get dragged along by it.Video
Engaging Fixed Income Issuers on ESG Topics
Jonathan Bailey, Head of ESG Investing, sits down with members of our Developed Market Corporate Credit team to discuss why they believe that ESG factors have a meaningful impact on credit quality and therefore are an important component of their credit research process.Podcast
Big Data: Exploiting an Inefficient Market
Increasing amounts of digital information offer a new frontier for portfolio managers, allowing investors to evaluate companies on both a fundamental and data driven basis.CIO Weekly Perspectives
Hidden Value
Lagging small caps indicate that, beneath the record-high S&P 500, all may not be as placid as it seems.Fixed Income Investment Outlook
Fixed Income Investment Outlook 3Q2019: Time to Dust Off the Playbook for Easing?
10 years since the Fed’s last rate cuts; we suspect many investors will have forgotten how powerful a Fed tailwind can be for markets.Insights
The World Gets Active in Euro Fixed Income
Steep yield curves make euro bonds attractive in general, but here we outline some specific opportunities.CIO Weekly Perspectives
Buck Down to Earth
Is recent U.S. dollar weakness a resumption of the downtrend that started at the end of 2016?Systematically Speaking
The China Factor
China’s A-share market reminds us of developed markets 20 years ago, in the heyday of quant investing.CIO Weekly Perspectives
Do We Really Need Lower Rates?
They may discourage the fiscal reform and corporate investment that the economy needs.Podcast
5G: The Next Generation of Connectivity
The implementation of 5G networks will allow for greater connectivity, affecting just about every area of the economy—how should investors prepare?Podcast
Autonomous Vehicles: An Evolution, not Revolution
The convergence of tech and auto has led to rapid advancements in auto safety features, creating the building blocks for truly autonomous vehicles.CIO Weekly Perspectives
The Narrative Arc
Late-cycle data points are noisy and inconclusive, and the stories we tell about them don’t always add up.CIO Weekly Perspectives
The Powell Put
Was last week’s bounce for risk assets a mere taste of what’s to come if the Fed cuts rates this year?CIO Weekly Perspectives
Wrestling in the Markets
Slowing growth, low yields and geopolitical maneuvers are making for quite a spectacle.Systematically Speaking
Harvesting Insights from Insider Activity
The intuitive link between legal insider trades and stock returns proves elusive as a quant strategy.CIO Weekly Perspectives
Still Emerging
News flow may be distracting from emerging markets’ attractive, mid-cycle fundamentals and valuations.White Paper
Quantitative Investing in China A Shares
How China’s retail investors create a rich opportunity set for quantitative strategies.White Paper
An Insurers’ Guide to Below-Investment Grade Exposure: The Platform Approach
Exploring the advantages of a broad platform approach to fixed income and credit for insurance company investors.Insights
U.S. BBB Corporate Risk: Flexibility in Focus
In a varied landscape, accurately assessing vulnerability to downgrades will come down to specifics.CIO Weekly Perspectives
News Cycle vs. Business Cycle
Trade talks are important and may cause volatility, but they should not determine portfolio strategy.Insights
What Active Engagement Looks Like
The Ashland proxy dispute displayed the power of an owner’s long-term perspective and commitment.Insights
Conversations With… Ray Carroll
Alternative risk premia can be great diversifiers, but it takes human insight to realize their full potential.CIO Weekly Perspectives
Tariffied
Is the U.S.-China deal dead, and how bad might this get for risk assets?Insights
Late-Cycle Investing: Be Prepared to Provide Market Liquidity
Illiquidity poses risks, but may also generate opportunity for those prepared to provide market liquidity.Insights
Late-Cycle Investing: Distinguish Signals from Noise
How to tell when late-cycle is turning over into end-cycle? Two places: look at data coming from the real economy and at indicators from financial markets.Insights
Late-Cycle Investing: Re-Assess Strategic Asset Allocation
The challenge of maintaining exposure to growth potential without losing control of risk.Insights
Late-Cycle Investing: Identify Through-Cycle Themes
Look for investments whose performance is not primarily determined by the business cycle, or whose dynamics supersede or “look through” that cycle.White Paper
Survive and Thrive: Late-Cycle Investing
Late-cycle is arguably the most challenging time for investors and asset allocators.CIO Weekly Perspectives
On the Meaning of “Transitory”
The Fed Chair has been stretching semantics on inflation, but his growth outlook mirrors ours.White Paper
Index Option Writing Strategy Benchmarks
How the continued success of option strategies arguably depends on the investment industry’s ability to consistently benchmark the strategies.CIO Weekly Perspectives
Earning Sustainable Gains
Human tragedy, financial damage, regulatory tightening and people power are driving ESG up the agenda.CIO Weekly Perspectives
Time to Rethink Euro-Pessimism
Threats to euro-zone growth are now more external than internal.CIO Weekly Perspectives
Storm Warnings Over the Atlantic
Our geopolitical risk focus turns to Europe—and trade conflict with the U.S. looms largest.CIO Weekly Perspectives
A Higher Degree of Debt
Should we worry about bubbles in leveraged loans, BBBs—or the Millennials’ student debt burden?White Paper
FX Markets: What’s Top-Down and What’s Bottom-Up?
Introducing a new five-factor model of the global, top-down determinants of foreign-exchange returns.Insights
A Drive Around the Yield Curve
An inverted yield curve can still be a useful leading indicator, but don’t read too much into it.Asset Allocation Committee Outlook
Asset Allocation Committee Outlook 2Q2019: On the Wings of a Dove
Markets soared on the wings of a central-bank dove during 1Q, but the engines of the global economy must spark back to life if we are to remain airborne.Insights
China Local Bonds Go Global
Are global bond managers ready for the operational challenges of the China onshore market?CIO Weekly Perspectives
Bonds vs. Stocks: Which Market Is Right?
Is the bond market cautious or confused? Is the equity market confident or complacent?Article Reprint
Beware of Box-Checking in Sustainable Investing
On March 27, Bloomberg Environment published an article, written by George Walker, CEO and Jonathan Bailey, Head of ESG Investing, which addresses the EU vote on requiring institutional investors to declare whether they consider sustainability objectives in their process.Insights
The Hidden Growth Themes in REITs
Think listed real estate is dull, defensive and exposed to rising rates? Think again.CIO Weekly Perspectives
Is ‘Goldilocks’ Back?
As the Fed turns more dovish, a familiar fairytale heroine returns—but will there be another happy ending?CIO Weekly Perspectives
Clearing the Hurdles
The ECB’s accommodative stance removes one more obstacle from a global soft landing.White Paper
The Term Premium Conundrum
What is the “term premium”, why is it so low, why might it rise—and what does it mean for investors?Systematically Speaking
The S&P 500 Sweepstakes
Buying call options has made unusual profits recently—has the “fear index” become a “greed index”?CIO Weekly Perspectives
Five Eyes on 5G
The spy stories reveal 5G as a true strategic asset and an investment theme whose time has come.Insights
Hybrids: The Spread Over Senior is Key
The end of ECB QE was expected to test the hybrids market—so far it has passed comfortably.CIO Weekly Perspectives
Political Theater
Political dramas are coming to a head, but we think this economic cycle still has an act or two to play out.CIO Weekly Perspectives
Good News, Bad News and Walls of Worry
For investors, the mature part of this cycle may feel like the rest of the cycle writ large.Systematically Speaking
Volatility Seems Here to Stay
Our volatility models indicate that a return to the low-vol of 2017 is highly unlikely.CIO Weekly Perspectives
False Signals, Real Opportunity
What Wall Street’s earnings results tell us about credit market opportunities.CIO Weekly Perspectives
The V in Volatility
The equity rally is likely just the start of a volatile adjustment to a new fundamental reality.CIO Weekly Perspectives
From Brussels With Love
As Brexit Day looms, Theresa May has until Valentine’s Day to wring concessions from the E.U.Video
Thematic Investing at Neuberger Berman
Why we believe Thematic Investing offers significant opportunities for growth.White Paper
Diversifying into Insurance Risk Premia
How Insurance Linked Securities can potentially improve the diversification in an institutional portfolio.CIO Weekly Perspectives
The Wisdom of Crowds
Why was our “Solving for 2019” audience less worried about recession but more cautious on equities?White Paper
Life after LIBOR
The all-important LIBOR benchmark is likely to disappear after 2021. What does that mean for investors?Insights
Staying Invested but Alert
In periods of volatility, it’s important to avoid market timing, while considering both diversification and, where appropriate, tactical tilts.Insights
Getting Back Up
Markets staggered late last year, but could fight into the later rounds.Insights
Realizing Your Charitable Vision
Careful strategy and common sense can help ensure that your charitable dollars will be deployed the way you want.Insights
Moving Toward a ‘Cashless’ World
As electronic payments gain traction, what does that mean for cash, society—and investors?Insights
Weatherproofing Your Wealth Plan
Is your personal wealth plan able to tolerate the risks that could undermine your financial goals?Insights
Private Equity and Your Portfolio
Global trends lend support to the long-term case for private equity as part of a diversified asset allocation.Systematically Speaking
Currency Carry: One Basket or Two?
Separating emerging and developed currencies may not be the risk-mitigating strategy it is assumed to be.CIO Weekly Perspectives
Known Knowns and Known Unknowns
If there were to be a recession this year, what might the cause be?White Paper
ESG for EMD: Toward Best Practice
A serious approach to ESG in emerging markets is increasingly a proprietary approach.CIO Weekly Perspectives
December’s Lack of Good Cheer
The year-end sell-off may have been as much about poor market liquidity as poor fundamentals.White Paper
ESG Investing: An Active Approach to Long-Term Value Creation
At Neuberger Berman, we believe active management is a demonstrably better approach for investors seeking ESG integration in their investment portfolios.Insights
Solving for 2019: A Gentle Descent Back Into Balance
Our senior investment leaders look to the coming year in the global economy and markets.Asset Allocation Committee Outlook
Asset Allocation Committee Outlook 1Q2019: Fundamental Laws
Do we share the market’s recent lack of confidence in global fundamentals? No—and here’s why.CIO Weekly Perspectives
Ten for 2019
The heads of our investment platforms identified the key themes they anticipate will guide investment decisions in 2019.White Paper
Strength in Numbers
Volatility and correlations are rising. Here are three liquid, high-value proposition quant-investing ideas to fortify portfolios.Insights
FOMC: Like Watching Paint Dry? Not Anymore
In the wake of the Fed’s last upward move of 2018, expect a substantial slowdown in rate hikes and more attention to key market and economic signals.Insights
ESG Investing in ‘Dirty’ Industries: Materiality and the Chemicals Industry
In sectors often thought of as ‘dirty,’ material ESG factors can assist in identifying sustainability and innovation.CIO Weekly Perspectives
An Alien Environment
To a visiting Martian, 2018 would suggest that risk is unrewarded and diversification is a waste of effort.Insights
Worries, Worries Everywhere
Real issues are affecting markets, but a long-term perspective and effective asset allocation can help you take them in stride.CIO Weekly Perspectives
Preparing a Soft Landing
The Fed is prudently downshifting gears to avoid slamming on the brakes in 2019.Insights
Voting the Votes: Materiality and Shareholder Proposals One Year On
A commitment to integrating SASB guidance on materiality into our evaluation of the proxy votes.CIO Weekly Perspectives
Rates of Change
Why a change of tack at the Fed and credit-market volatility may be positive for equities.CIO Weekly Perspectives
Hybrid Vigor
Why a household name is issuing into a little-known market—and why investors should take note.CIO Weekly Perspectives
A Stronger Hull, but Open Sails
If recession clouds don’t break on a 12-month horizon, there could be upside in the markets.Insights
Neuberger Berman's Response to the SEC Proxy Voting Roundtable
Neuberger Berman executes proxy votes to protect the long-term interests of clients.Insights
Neuberger Berman Contributes to the Embankment Project for Inclusive Capitalism
George Walker was a contributor to the Embankment Project for Inclusive Capitalism (EPIC)1, which unites over 30 global business leaders across the entire investment chain to advance long-term value measures.CIO Weekly Perspectives
Back Into Balance
Both the global economy and the U.S. Congress could be set for a new equilibrium in 2019.White Paper
Combining Public and Private Debt: Considerations for Investors
We believe there are a number of good reasons fixed income investors should consider a one-portfolio public/private debt solution.CIO Weekly Perspectives
Scary Times
Halloween is over…but market fears could haunt the end-of-year holiday season.Insights
Conversations With… Ingrid Dyott
Delivering environmental and social impact alongside investment performance for 20+ years, sustainability pioneer Ingrid Dyott describes an unwavering investment discipline tailored to evolving ESG expectations.CIO Weekly Perspectives
Revisiting International Equities
When a market fall appears indiscriminate, it may be inconsistent with fundamentals and offer an attractive long-term opportunity.Insights
Market Selloffs: Lessons From History
Past market declines have often taken time to develop, leaving room for thoughtful reaction.Insights
Senior Loans: Positioning Portfolios for a Maturing Cycle
Disciplined active management will be key to successfully navigating the more challenging market environment ahead.Insights
Active Bond Management: Adding Value in a Shifting Market
There are a variety of factors that suggest an active approach to fixed income is a preferred option, which may become even more evident as policy normalization continues and the long-lived credit cycle eventually returns.CIO Weekly Perspectives
Tough Love for Brazil
Would President Jair Bolsonaro be an economic reformer or an authoritarian?Insights
Consider Your Options
Put option writing can be a way to cut portfolio volatility without taking interest-rate risk.Insights
Today’s Seismic Shifts and Their Impacts
A decade after the financial crisis, four key trends are helping to fashion the investment landscape for the next 10 years.Insights
Conversations With... Jason Pratt
Late-cycle dynamics are tricky for insurance investors. We asked Jason Pratt for some solutions.CIO Weekly Perspectives
Tighter Rates, Tighter Correlations
It’s not time to batten down the hatches, but to get smarter about asset allocation.White Paper
ESG Fixed Income Engagement Report
Our engagement process, key themes and observations, data summarizing our engagement activities and relevant case studies.CIO Weekly Perspectives
Bondmageddon!
A reminder that rising yields, not recession, are most likely to trigger the next equity correction.CIO Weekly Perspectives
Reframing the Cycle Question
However long the cycle has to go, it’s not too early to favor quality and tighten up issuer selection in credit.Insights
Dispatches From the Trade War
We offer perspective in the wake of recent jockeying over tariffs between the U.S. and China.CIO Weekly Perspectives
Tapering, Not Tightening
Why we don’t expect the ECB’s withdrawal of QE to throw euro bond markets off balance.White Paper
How Risk Parity Can Cope with Rising Rates
It seems counterintuitive that risk parity can outperform when rates are rising—we explain why it is not.CIO Weekly Perspectives
The Year of Living Divergently
Unusually wide disparities in market returns have been this year’s theme, but how long can it last?CIO Weekly Perspectives
Be Around Should EM Rebound
It could be all too easy for investors to miss a potential recovery in emerging markets debt.White Paper
The Dissolving Divides that Will Shape the Post-Crisis Investment Era
In ten years, what are the forces that would still be driving the investment world, and what would have been dismissed as mere noise?CIO Weekly Perspectives
Getting a Handle on BBB Credit Risk
Our Global Investment Grade Fixed Income team explores the extent and nature of current risks in BBB credits.CIO Weekly Perspectives
Improved Corporate Governance in Europe Could Drive Returns
A sharpened focus on shareholder value by European companies may serve as a tailwind for already-improving fundamentals.CIO Weekly Perspectives
Thinking (Really) Long Term
This mid-year break, 10 years on from the financial crisis, is the perfect time to bring the big picture into focus.Video
Multi-Sector Investing at Neuberger Berman
Our philosophy with respect to multi-sector investing is really simple, bring the best people in fixed income together in single portfolios.CIO Weekly Perspectives
Einstein (and Leonardo) on the Beach
The success of unconventional thinkers reminds us that the world doesn’t always work conventionally.White Paper
Improving Diversification by Adding Momentum
For investors looking to balance risk mitigation with cost considerations and return potential, we offer momentum strategies as a potential solution.Insights
Emerging Markets Debt: A Soft Patch for Hard Currency
This year’s sell-off opens an opportunity to make strategic allocations at attractive valuations.White Paper
BBBs: Beyond the Headlines
The growth of BBB credits is causing many investors to worry, but the reality is far more nuanced than the headlines would suggest.White Paper
Unlocking Shareholder Value in Europe
While European equity markets outpaced much of the developed market competition in 2017, a bout of global volatility in the first half of 2018 dampened their momentum.CIO Weekly Perspectives
Crash Test Dummies
Dropping the threat of higher auto tariffs was an important step back from a global trade war.CIO Weekly Perspectives
Principled Investing
How the Principles for Responsible Investment foster coordination and innovation in ESG.Insights
Financial Fitness: Planning in Stages
Each period of your life poses distinct challenges, requiring appropriate steps to keep your finances on the right path.Insights
Sector Spotlight: The Coming 5G World
The next generation of wireless will be about a lot more than cell phones—and investors will need to think strategically to capitalize.Insights
Asset Matters: Asset Allocation’s Halo Effect
Volatility, higher rates and shifting correlations reinforce the value of effective asset allocation.Insights
Trust Company Corner: Outsourcing the Role of Chief Investment Officer
The use of an external ‘CIO’ offers significant benefits to foundations, endowments and institutions.Insights
Investment Insights: ESG That Spans Portfolios
It’s increasingly feasible to measure and manage the “impact” of investments across asset classes—whether in seeking to improve financial performance or to encourage change.CIO Weekly Perspectives
Positive Alpha
Tailwinds appear to be building behind a number of hedge fund styles.CIO Weekly Perspectives
Finally, Some Yield
Fixed income opportunity opens up in Europe, emerging markets and the short end of the curve everywhere.Insights
Euro Investment Grade Credit: A Growing, Diversifying, High-Quality Market
The financial crisis and subsequent regulation has ended the dominance of financials in euro corporate bonds.CIO Weekly Perspectives
A $200bn Game of Chicken
The U.S. and China rev up the trade rhetoric, but still have big incentives to swerve.CIO Weekly Perspectives
Productivity, Inflation and the Path of Rates
A capex boost could raise productivity, keep a lid on inflation and further extend the current cycle.CIO Weekly Perspectives
Are You a Lightning Rod or a Seismograph?
The current sweet spot in high yield may be short-dated bonds rather than floating-rate loans.White Paper
Optimizing Currency Exposures under Solvency II
Recalibrating the Dynamic Ideal Hedge Ratio for European Insurers.Insights
How Are REITs Positioned in a Rising Interest Rate Environment?
Co-portfolio managers Brian Jones and Steve Shigekawa, Neuberger Berman Real Estate Securities Group, provide context for recent market turbulence, discuss the impact of rising rates on real estate investment trusts (REITs) and share their outlook for the asset class.CIO Weekly Perspectives
Europe’s Boot Gives the Market a Kick
The Italian mini-panic was a reminder of the euro zone’s still-unaddressed structural shortcomings.CIO Weekly Perspectives
Elastic Band Theory
Fundamental market relationships maintain their shape despite a bias toward trend extrapolation.Insights
Interview: Investing for Returns Can Support Sustainable Development
Can investing for market-rate returns contribute to the UN Sustainable Development Goals?Insights
ESG: What Institutional Investors Are Saying About Sustainable Investing
At a Neuberger Berman conference, institutional investors discussed current trends in ESG investing.CIO Weekly Perspectives
Don’t Cry for Argentina
Coordinated action has undone some policy missteps and brought some calm to the crisis.Insights
Chasing Your Tail
Buying put options to hedge equity tail risk can be ineffective and expensive.CIO Weekly Perspectives
In Defense of Boneheads
A well-governed business works like a partnership, and regards its capital providers as partners, too.Insights
From Commodities to Computers
The sectoral change in emerging markets shines new light on both their cyclicality and their valuations.CIO Weekly Perspectives
Election Season in Latin America
Populists grab the headlines, but this year’s votes actually reveal the region’s economic and political diversity.Insights
Environmental, Social, and Governance Assessment and Engagement in Emerging Markets Debt
Environmental, Social, and Governance (ESG) factors can be particularly important to credit quality in emerging markets (EM) fixed income.CIO Weekly Perspectives
Earnings vs. Rates—The Market Tug of War
Which will prove stronger: uncertainty about rates or confidence in earnings growth?White Paper
Welcome to the Real China Bond Market
China’s onshore bond market liberalizes further, offering more exposure to China’s economic transition.Insights
Trust Company Corner: Estate Planning Under the New Tax Law
For many individuals, the emphasis of planning may shift from estate taxes to income taxes.Insights
Philanthropy: Exploring Nonprofit Board Service
Sharing your time and expertise can offer personal rewards and benefit causes that you care about.Insights
Financial Fitness: Planning for Health Care Needs
Among your retirement expenses, health care is one that shouldn’t be overlooked.Article Reprint
Incorporating Environmental, Social and Governance Factors into Fixed Income Investment
As an interviewee for this report, Neuberger Berman highlighted the importance of incorporating Environmental, Social and Governance (ESG) into fixed income investing as it is a material component of the overall credit risk analysisCIO Weekly Perspectives
Pent-Up Energy
Late-cycle support and attractive valuations could release the potential of commodity stocks.CIO Weekly Perspectives
Value in a Volatile Market
Where to find value amid the volatility, and why that volatility is likely here to stay.Article Reprint
PRI: ‘ESG Engagement for Fixed Income Investors’
In a recent PRI publication, Jonathan Bailey, Head of ESG Investing, is an acknowledged contributor along with insights from our Fixed Income Teams.CIO Weekly Perspectives
Signal to Noise! Part Deux
Do not allow trade-talk noise to distract from the rates and inflation signals.Insights
Rising Rates Survival Guide
Looking for new sources of income and diversification will be crucial to dealing with the challenges of a rising rate environment.White Paper
Overview of Alternative Risk Premia (“ARP”) Strategies
Given the increased complexity and diversity of ARP strategies, we outline a framework for investors to navigate the ARP universe.CIO Weekly Perspectives
Trading Blows
Markets try to weigh behind-the-scenes pragmatism against public saber-rattling on trade.Video
ESG Engagement for Fixed Income Investors: Managing Risks, Enhancing Returns
Chris Kocinski, Director of Non-Investment Grade Credit Research, joined a panel of leading institutions at the PRI’s Responsible Investment in Fixed Income conference in San Francisco to share his perspective on how fixed income investors can effectively engage with issuers, as well as his outlook for the evolution of ESG integration in non-investment grade credit.CIO Weekly Perspectives
Maintaining Balance
Where can asset allocators find ballast when both volatility and correlations are rising?CIO Weekly Perspectives
Not Just for Yogurt
A strong corporate culture is good for employees, good for customers and good for business.CIO Weekly Perspectives
Engagement and Judgment Matter
Why we think bottom-up active managers are better positioned to hold companies accountable.CIO Weekly Perspectives
Eyes on the Pressure Gauges
As the economic machine speeds up, where on the dashboard do we look for pressure?Insights
Non-Investment Grade Credit: Engaging in ESG
Credit investors can influence change through ESG engagement.CIO Weekly Perspectives
Volatility Can Be a Wind in Your Sails
The VIX tornado didn’t change the fact that the investment industry is willing to pay for volatility control.White Paper
Improving Fundamentals Boost Case for Commodities
Commodity markets are once again attracting investors.CIO Weekly Perspectives
When the Ice Melts, Friction Returns
Rising inflation and rates could make the return of market volatility structural, not temporary.CIO Weekly Perspectives
VIX in a Fix
Equities stumble, but last week was not the big risk event of 2018.White Paper
A Changing Landscape for Multi-Sector Fixed Income Investing
What worked over the last five years is unlikely to work as well over the next five.CIO Weekly Perspectives
Muscle Memory
Is your portfolio in the right shape to withstand rising prices and rates?CIO Weekly Perspectives
The Good, the Bad and the Ugly
There are two kinds of people: Those who are prepared for elevated risks, and those who aren’t.CIO Weekly Perspectives
Tax Cuts for Some!
While passive small-cap equity strategies have been a popular tax-cut play, not all small companies stand to benefit.Insights
Postcards from South Africa, China & Argentina
Why site visits are an essential complement to desk research in emerging markets.CIO Weekly Perspectives
Best Supporting Actors
The G10’s supporting actors may take the limelight from the euro and dollar in 2018.Insights
Climate Change: Assessing Impact at the Portfolio Level
It is widely acknowledged that climate change will have a broad range of impacts on economies and financial markets over the coming decades.Insights
Shopping Maul
Amazonification is revolutionizing retail real estate, not devouring it.CIO Weekly Perspectives
Ten for 2018
Momentum is strong now, but we see clouds on the horizon.Insights
From Talking the Talk to Voting the Votes
Integrating the Sustainability Accounting Standards Board into proxy voting guidelines.CIO Weekly Perspectives
A “Goldilocks” Environment with Risks of Getting “Warmer”
This year could turn out to be as exciting and eventful as 2017.Insights
Non-Investment Grade Credit Fixed Income Engagement Case Studies
Why engage with issuers?Insights
Rating the Raters on ESG
What credit rating agencies should be doing to better integrate environmental, social and governance (ESG) factors into credit rating assessments.CIO Weekly Perspectives
Europe, Japan – A Flash in the Pan?
Guest writer Benjamin Segal describes how fundamental improvements and profit growth lend support to non-U.S. equities.Insights
Autos Steer Toward Tech
Multiple technologies are converging on the auto sector. What does it mean for investors?CIO Weekly Perspectives
It's Beginning to Look a Lot Like Normal
Next year’s rising inflation and capex uptick could make this recovery feel “normal” at last.White Paper
Inflation: Slain Dragon or Sleeping Giant?
As markets price for a long period of low inflation we ask, is it really as low as it seems, and are there really no signs of it stirring?CIO Weekly Perspectives
Big Data = Big Opportunity
This untapped resource could be the new frontier in investment research.CIO Weekly Perspectives
The Asset Allocator’s Options
When nothing looks cheap, multi-asset investors need to write new pages into the asset allocator’s textbook.Insights
China’s Banks: Light from Behind the Shadow
Tighter rules against shadow banking and a corporate efficiency drive combine to strengthen China’s banks.CIO Weekly Perspectives
Taxing Questions for Bond Investors
From macro to micro, munis to high yield, the GOP’s tax reforms will impact bond markets.CIO Weekly Perspectives
Late-Cycle Dilemmas
Markets stretch for return as the cycle matures and the Fed enters an uncertain new era.CIO Weekly Perspectives
From Halloween to ‘FANGs-giving’
Last week’s scarily good macro and earnings data revealed solid foundations for reflation.CIO Weekly Perspectives
Fixing the Foundations
As rainclouds part to reveal synchronized global growth, policymakers ponder structural challenges.CIO Weekly Perspectives
China Charts Its Future
Over 2,000 lawmakers gather to settle the leaders and policies of the world’s second-biggest economy.CIO Weekly Perspectives
The Power of Going Private
Why private markets may be worth considering in today’s environment.CIO Weekly Perspectives
Hedging Upward
The rising cost of currency hedges may require a re-think for fixed income portfolios.CIO Weekly Perspectives
Capitol Punishment
The 2018 midterm elections may concentrate minds in Washington.CIO Weekly Perspectives
Side FX
Are credit investors comparing “like with like” when they compare U.S. and European yields?Insights
The Fed’s Slow Dance
The markets are enjoying the central bank’s deliberate approach to balance sheet reduction.CIO Weekly Perspectives
Stock Picking Is Making a Comeback
A long-awaited reminder of the appeal of active management.CIO Weekly Perspectives
In the Eye of the Storm
Take care not to mistake calm markets for fair weather.White Paper
REITs: The Real Thing
REITs can correlate with equities in the short-term, but long-term returns come from genuine bricks-and-mortar.CIO Weekly Perspectives
Jackson Ho-Hum?
The symposium produced few fireworks, but indicated what is top-of-mind for central bank policymakers.CIO Weekly Perspectives
Avert Your Eyes!
Never mind the eclipse, don’t look at Washington, DC.CIO Weekly Perspectives
Let’s Give Credit to ESG
ESG is relevant to bonds as well as equities, but in different ways.CIO Weekly Perspectives
Lessons from the Past
What 1987, 1997 and 2007 teach us about getting to 2027, 2037 and 2047.CIO Weekly Perspectives
Venezuela in Flames
A Latin American country endures a crisis straight out of the 1980s.CIO Weekly Perspectives
The Central Banks’ ‘Dunkirk’
We are past the end of the beginning of QE, but still at the beginning of the end.CIO Weekly Perspectives
‘War and Peace’ on the Beach
Summer reflections on complacency, humility and diversification.CIO Weekly Perspectives
Watering Down the Punch
The punch bowl is likely here to stay, but expect the Fed to water down what’s in it.Insights
Beta Blockers
Why investors may need more exposure to uncorrelated hedge fund strategies.CIO Weekly Perspectives
These Are Not Normal Markets
Central banks and massive passives create a potential feast for hedge funds.CIO Weekly Perspectives
“Somewhat Rich”!
Equities have had a tremendous run—but for good reasons.CIO Weekly Perspectives
Goldilocks and the Three Bears (or Bulls)
There is opportunity and risk, despite the quiet in markets.CIO Weekly Perspectives
U.S. ‘Dolor’
Did the dollar put in a long-term top last December?CIO Weekly Perspectives
OPEC and U.S. Shale: Collision Course?
In the wake of OPEC’s extension of production cuts, we consider what may come next.CIO Weekly Perspectives
Calm for Now
Recent low volatility reflects fundamentals, but don’t expect it to remain in place forever.CIO Weekly Perspectives
Disruption Becomes the Norm
Technology fuels an accelerating creative destruction process.CIO Weekly Perspectives
Emerging Markets Debt: Is There Still Gas in the Tank?
Reforms, growth trends and favorable yields are among the current drivers of the asset class.CIO Weekly Perspectives
Building the Case for Europe
Why the euro area looks attractive right now.CIO Weekly Perspectives
Taxing Concerns
Can Donald Trump persuade Congress to pass his new tax proposals?CIO Weekly Perspectives
Steady, As She Goes
In our view, the U.S. is still at mid-cycle in terms of economic growth.CIO Weekly Perspectives
Earth Day and Portfolios
Interest in Earth Day parallels evolution in environmentalism—and ESG integration into investments.CIO Weekly Perspectives
Trading Places
International equity markets are looking increasingly attractive.Video
An Introduction to Option Investing
Derek Devens and Rory Ewing introduce PutWrite Option investing and how it is being used in investors' portfolios.CIO Weekly Perspectives
Small is Beautiful
U.S. smaller companies have endured seven lean years, but are they poised for a comeback?Insights
U.K. Triggers Article 50: What Happens Next?
Jon Jonsson discusses what this might mean for global fixed income markets.CIO Weekly Perspectives
Emerging Markets, Stealth Leader
While U.S. and European politics have dominated attention, emerging markets have quietly outperformed.CIO Weekly Perspectives
Pitch Perfect – Yellen Hits a High Note
Markets were encouraged by the Fed’s stronger, more confident approach last week.CIO Weekly Perspectives
Back to Basics
In a world dominated by politics, it’s important that investors continue to focus on the basics.CIO Weekly Perspectives
And the Winner Is…
Will Europe’s elections become a high-water mark in the growth of populism?CIO Weekly Perspectives
Yellen Takes the Reins
The Fed has a wide open backstretch to get in front of the market.CIO Weekly Perspectives
Separating Politics from Fundamentals
U.S. politics are grabbing all the headlines, but corporate America keeps chugging along.White Paper
The Case for Floating Rate Loans
In a rising interest rate environment, the case for investing in senior floating rate loans should be revisited.CIO Weekly Perspectives
Tug of War
There’s a global tug of war going on between an upswing in growth and ongoing tightening.White Paper
Gender Diversity Impact: Assessing Gender Diversity Impact at the Portfolio Level
Advancing women’s equality in the workplace could boost global GDP by $12 trillion by 2025.Video
A Focus on Emerging Market Debt Investing
Rob Drijkoningen examines why he believes consideration of ESG factors is crucial to successful investing in emerging markets and discusses his team's approach to investing in the asset class.CIO Weekly Perspectives
Hopes and Fears
Which will triumph in 2017?CIO Weekly Perspectives
Signal-to-Noise Ratio
Finding—and sticking to—the facts will be especially crucial for investors in the months ahead.CIO Weekly Perspectives
Will Politics Overshadow Fundamentals Again?
2017: Risks and opportunities from a currency market perspective.CIO Weekly Perspectives
Taking Stock of the U.S.
Stronger GDP growth the key to sustaining U.S. equity momentum.White Paper
