Insights
Insights
Cash Negative
The central bank pandemic response has left all major short-dated interest rates pricing near or below zero for years into the future: How can cash portfolio managers meet this challenge?Insights
High Demand, Tight Supply: Private Debt Post-Coronavirus
We think private debt fared well relative to publicly traded credit during the coronavirus volatility, but will really differentiate itself in the years following the crisis.Insights
The Path to Carbon Reduction
As investors that take climate change leadership into consideration, we often ask ourselves, how robust and meaningful are these goals and how do a company’s climate and business goals align?Insights
Solving for 2021: The World After the Coronavirus
Our senior investment leaders look to the coming year in the global economy and markets.Insights
Investment Grade Credit: Corporate Decision-Making in the Post-COVID-19 Economy
Corporate fundamentals are recovering, but the path forward is divergent.Insights
Materiality Matters
How Environmental, Social and Governance Issues Inform Long-term Growth and Sustainability of CompaniesInsights
Uncorrelated Through COVID
The rollercoaster ride of the COVID-19 market crisis presented the toughest challenge imaginable to the concept of “uncorrelated strategies”—did they live up to it?Insights
China Property: Recovery From the COVID-19 Lockdown
With recovery, home price growth and overheated land prices could attract policy intervention.Insights
Flexibility and Fundamentals
The new environment of zero rates and higher credit market volatility calls for a new approach to durable income investing—one that can go anywhere, but remains anchored in bottom-up conviction.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.Insights
Epic Battle or Rope-a-Dope?
Identifying the winner of the rumble between ‘The Japanifier’ and ‘The Stimulator’ is likely to be the key determinant in successful portfolio construction for years to come.Insights
Narrowing the Living Wage Divergence
The gap between the richest and the poorest U.S. households is now the largest it’s been in the past 50 years—despite the median U.S. income hitting a new record in 2018 and despite 10 years of low unemployment and economic expansion.Insights
Vulnerability to Default in Emerging Markets
While emerging markets sovereign defaults are at levels not seen since 2001 this year, rapid policy responses are helping to avoid the worst—furthermore, we believe the corporate default rate for 2020 could be lower than in 2009 or even 2016.Insights
The 2020 Proxy Season and NB25+ Initiative
Neuberger Berman’s Engagement Series presents insights and case studies on our dialogue with companies, government entities and other securities issuers.Insights
Q&A: The Pandemic and Politics
Assessing the 2020 race in light of COVID-19, economic weakness and civil unrest.Insights
Asian Credit Remains Firmly Investment Grade
Spread-widening in the Asian credit markets due to COVID-19 is understandable, but we believe it overstates downgrade and default risks, and represents an attractive value opportunity for long-term investors.Insights
ESG in Private Markets: Investing for the Long Term
A glimpse into the future of ESG investing in the private markets.Insights
Spotlight on Sustainability: Evolving Engagement in ESG and Non-Investment Grade Credit
In February 2020, Neuberger Berman sat with high yield bond issuers to discuss ESG engagement in the Non-Investment Grade credit market.Insights
Neuberger Berman Fixed Income: Company Leadership during COVID-19
Assessing Company Leadership during COVID-19 with Active ESG EngagementInsights
A Very Bond-Friendly Crisis
We believe the COVID-19 crisis and the response from governments and central banks creates an unusually favorable macro environment for credit.Insights
Digital Drivers of Real Estate Opportunity
Shifts in technology are contributing to a new landscape in the listed real estate universe.Insights
The Historical Impact of Economic Downturns on Private Equity
An assessment of private equity return patterns in two recent significant downturns.Insights
The New ‘Fusion’
As the physical and digital worlds merge, companies, investors and society will need to adapt.Insights
PE Investing at Turning Points in the Market Cycle
Shifting assets from public to private equity in and around downturns has been a rewarding strategy.Insights
The TALF 2.0 Opportunity in Asset Backed Securities
During the 2008 – 10 financial crisis, the Federal Reserve’s Term Asset Backed Securities Loan Facility (TALF) enabled double-digit returns from high-rated ABS. What are the prospects under TALF 2.0, part of the Fed’s COVID-19 response?Insights
Commitment to Workplace Issues
As part of its ongoing commitment to evaluating workplace issues in the context of seeking sustainable long-term investments, Neuberger Berman became an investor signatory to the Workforce Disclosure Initiative (WDI) in 2019.Insights
Using Our Voice in Value Investing
Constructive relationships and a long-term perspective can open doors when engaging with companies and other shareholders.Insights
Do Banks Have a Liquidity Problem?
Many Institutions are in strong financial shape, while recent issuance reflects prudence in the face of crisis.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.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.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.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.Insights
Four Things to Remember in a Market Downturn
Volatility, diversification and the merits of long-term investingInsights
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.
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.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.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.Insights
Checking in on BBBs
Improved credit conditions are reflected in spreads, but volatility may create opportunities.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.Insights
Commitment on Climate
Our Sustainable Equity team explores a recent engagement on measurement of carbon emissions.Insights
Asia Bonds: Tactical Value for a Long-Term Opportunity
Asian debt exhibits robust fundamentals and bright long-term prospects, with attractive yields.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.Insights
Governance: Hiding in Plain Sight
Corporate governance remains relevant as a research tool and an anchor for ESG investing.Insights
Engagement, Municipal Style
Working with municipal bond issuers is a subtle art, and has more potential in some areas than others.Insights
Next-Generation Mobility: It’s About the Journey
Finding opportunities along the road to fully autonomous electric vehicles.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.Insights
The Preferred Income Advantage
In an environment of exceptionally low bond yields, preferred shares may provide an opportunity to boost income.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.Insights
Rebounds, Records and Uncertainty
A reminder about investment principles emerges in a transitional environment.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
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
The World Gets Active in Euro Fixed Income
Steep yield curves make euro bonds attractive in general, but here we outline some specific opportunities.Insights
U.S. BBB Corporate Risk: Flexibility in Focus
In a varied landscape, accurately assessing vulnerability to downgrades will come down to specifics.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.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.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.Insights
China Local Bonds Go Global
Are global bond managers ready for the operational challenges of the China onshore market?Insights
The Hidden Growth Themes in REITs
Think listed real estate is dull, defensive and exposed to rising rates? Think again.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.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
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.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
Solving for 2019: A Gentle Descent Back Into Balance
Our senior investment leaders look to the coming year in the global economy and markets.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.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.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.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.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.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.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.Insights
Dispatches From the Trade War
We offer perspective in the wake of recent jockeying over tariffs between the U.S. and China.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.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
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.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
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.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.Insights
ESG: What Institutional Investors Are Saying About Sustainable Investing
At a Neuberger Berman conference, institutional investors discussed current trends in ESG investing.Insights
Interview: Investing for Returns Can Support Sustainable Development
Can investing for market-rate returns contribute to the UN Sustainable Development Goals?Insights
Chasing Your Tail
Buying put options to hedge equity tail risk can be ineffective and expensive.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
Financial Fitness: Planning for Health Care Needs
Among your retirement expenses, health care is one that shouldn’t be overlooked.Insights
Philanthropy: Exploring Nonprofit Board Service
Sharing your time and expertise can offer personal rewards and benefit causes that you care about.Insights
Non-Investment Grade Credit: Engaging in ESG
Credit investors can influence change through ESG engagement.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
From Talking the Talk to Voting the Votes
Integrating the Sustainability Accounting Standards Board into proxy voting guidelines.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.Insights
The Fed’s Slow Dance
The markets are enjoying the central bank’s deliberate approach to balance sheet reduction.Insights
Beta Blockers
Why investors may need more exposure to uncorrelated hedge fund strategies.Insights
U.K. Triggers Article 50: What Happens Next?
Jon Jonsson discusses what this might mean for global fixed income markets.Insights
ESG for EMD
ESG Factors Matter in Emerging Markets Corporate Bonds.Insights
