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Consilient Observer • 15-Sep-2020

One Job

Counterpoint Global

The one job of an equity investor is to take advantage of gaps between expectations and fundamentals, which requires an understanding of the magnitude of investment and return on investment in order to properly anticipate free cash flows. With investments shifting more toward intangible assets, this report discusses the measurement and characteristics of intangible assets and reviews the implications of the growth of intangibles for investors.

Global Fixed Income Bulletin • 14-Sep-2020
Consolidation Is the Name of the Game Global Fixed Income Team A benign August saw positive trends continue. How long will this continue, what does this mean for fixed income investors? The Global Fixed Income team explore.

Market Pulse • 14-Sep-2020 • 4:47 Min
Fed Focus: Credit Rates and Solvency Risk Global Fixed Income Team Jim Caron, Head of Global Macro Strategies, provides timely insights on what’s driving fixed income markets today. Listen now.

TALES FROM THE EMERGING WORLD • 09-Sep-2020
The Winners of a Post-Pandemic Era Global Emerging Markets Team Ruchir Sharma, Chief Global Strategist and Head of Emerging Markets lists the economies most likely to thrive in the post pandemic era, arguing that the winners will need a strong defense against the forces of deglobalization, rising debt, and meddling governments, and a strong offense to exploit the booming digital economy.

PATH • 08-Sep-2020
Warning: Ice on the road ahead Andrew Harmstone, Manfred Hui, Christian Goldsmith The GBaR team provides an update on its latest market views and asset allocation positioning.

Market Pulse • 08-Sep-2020 • 6:01 Min
Risk Off Today, but a Silver Lining Is on the Horizon Global Fixed Income Team Jim Caron, Head of Global Macro Strategies, provides timely insights on what’s driving fixed income markets today. Listen now.

Market Pulse • 31-Aug-2020 • 5:58 Min
History in the Making: A Reworking of Fed Policy Global Fixed Income Team Jim Caron, Head of Global Macro Strategies, provides timely insights on what’s driving fixed income markets today. Listen now.

PATH • 21-Aug-2020
Global markets: China’s positive outlook may not benefit the rest of the world Andrew Harmstone, Manfred Hui, Christian Goldsmith The GBaR team provides an update on its latest market views and asset allocation positioning.

Market Pulse • 21-Aug-2020
Where to Go From Here? Reimagining the Fed’s Policy Response Function Global Fixed Income Team In his latest Market Pulse, Jim Caron looks at how investors are incentivized to align with the Fed's policy response function, which should broadly support asset prices and ease financial conditions.

EDGE • 19-Aug-2020
CAR-T Therapy Counterpoint Global CAR-T cell therapy has been a huge breakthrough in curing blood cancers. MSIM’s Counterpoint Global explores how recent advances in the technology could improve its safety and lower its cost while expanding CAR-T cell therapy’s addressable market.

Global Fixed Income Bulletin • 14-Aug-2020
The Song Remains the Same Global Fixed Income Team Despite good news on the policy front, challenges remain - U.S./China relations, U.S. fiscal cliff, U.S. elections and the pandemic - yet we remain optimistic.

PATH • 07-Aug-2020
Global markets: Are the easy gains behind us? Andrew Harmstone, Manfred Hui, Christian Goldsmith The GBaR team provides an update on its latest market views and asset allocation positioning.

Sustainable Investing • 31-Jul-2020
Beyond Windmills: The New Environmental Portfolio AIP Private Markets Team AIP Private Markets’ Head of Impact Investing finds that solutions to climate change are nuanced and may generate compelling investment opportunities.

Insight Article • 30-Jul-2020
Fishing for Stocks in China Kristian Heugh, Marc Fox Our location in Hong Kong gives us a unique perspective on the risks and opportunities of investing in China, a market we believe is ripe with opportunity for bottom-up stock picking, particularly in the consumer, internet, healthcare and education industries.

PATH • 30-Jul-2020 • 3:00 Min
Coronavirus: More stimulus to support economy and climate policy Global Balanced Risk Control Team Christian Goldsmith shares the GBaR team’s latest market views with a focus on the impact of coronavirus.

Market Pulse • 29-Jul-2020
Market Pulse with Jim Caron: The Fed Keeps Rates Low While the Dollar Weakens Global Fixed Income Team Jim Caron, Head of Global Macro Strategies, provides timely insights on what’s driving fixed income markets today.

Insight Article • 28-Jul-2020
Where To Next: A Framework For Resilience AIP Private Markets Team The AIP Private Markets team explains their framework for selecting companies and constructing a portfolio that seeks to withstand changes in the economic cycle.

Takeaways & Key Expectations • 24-Jul-2020
Equity Market Commentary - July 2020 Applied Equity Advisors Team In his July TAKE, Andrew Slimmon discusses how behavioral finance again takes the front seat. Many investors remain pessimistic in spite of signs that in fact, 2020 could be a good year for equities.

PATH • 23-Jul-2020
Coronavirus: More stimulus to support economy and climate policy Andrew Harmstone, Manfred Hui, Christian Goldsmith The GBaR team provides an update on its latest market views and asset allocation positioning in light of the spreading impact of the coronavirus.

TALES FROM THE EMERGING WORLD • 21-Jul-2020
No, the Markets Aren't Crazy Global Emerging Markets Team In his latest Tales From the Emerging World, Ruchir Sharma, Head of Emerging Markets and Chief Global Strategist, notes that though stock valuations have been inflated by lower interest rates, the market remains the best barometer of the economic cycle.

Insight Article • 19-Jul-2020
MS Global Brands Equity Income - Targeting 4% International Equity Team The Morgan Stanley Global Brands Equity Income Fund offers the ability to generate a reasonable level of income without sacrificing long-term performance; in our view, that’s income the right way.

MACRO INSIGHT • 17-Jul-2020
The Global Gaming Industry Takes Center Stage Sean Shaw, Steven Quattry, Jessica Whitt, Jorge Chirino Video gaming is arguably on its way to becoming the world’s new favorite pastime, as advances in technology and new social formats are bringing an activity once considered fringe more deeply into the mainstream.

Global Equity Observer • 16-Jul-2020
Paying Up Dirk Hoffmann-Becking, Alex Gabriele The payments industry is emerging as one of the most attractive parts of the Fintech world. The International Equity Team explains.

Global Fixed Income Bulletin • 15-Jul-2020
Can It, Will It, Continue? Global Fixed Income Team With infection rates rising globally we ask whether the economic recovery can continue if health and employment concerns depress earnings and spending power.

Market Pulse • 06-Jul-2020 • 6:36 Min
Will the Sizzle Fizzle? Global Fixed Income Team Jim Caron, Head of Global Macro Strategies, provides timely insights on what’s driving fixed income markets today. Listen now.

Insight Article • 01-Jul-2020

Climate Transition in a Portfolio Context: What Matters and What to Measure

Portfolio Solutions Group

The Morgan Stanley Institute for Sustainable Investing and the Portfolio Solutions Group examine the increasing trend of decarbonization in business and investment conversations, and explain why they believe this will give rise to compelling investment opportunities and affect the way that investors build and manage their portfolios.

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Sustainable Investing • 30-Jun-2020

All Green Bonds Are Not Created Equal

Navindu Katugampola, Barbara Calvi

The universe of “sustainable bonds” spans a broad set of categories, creating a confusing mosaic for investors to decipher, and leading to accusations of “greenwashing” by critics. The Global Fixed Income Sustainable Investing team explores how they look through the labelling to critically assess sustainable bond issuance within their investment process.

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Takeaways & Key Expectations • 30-Jun-2020
Equity Market Commentary - June 2020 Applied Equity Advisors Team Is the tech sector in bubble territory like it was back in 2000? “Maybe so”, says Andrew Slimmon, “but we believe there are still plenty of reasonably priced names out there.”

Global Multi-Asset Viewpoint • 30-Jun-2020
Stars Aligned for Higher Inflation Sergei Parmenov, Cyril Moulle-Berteaux MSIM’s Global Multi-Asset Team discusses their investment perspective in the latest viewpoint: "Stars Aligned for Higher Inflation."

Market Pulse • 29-Jun-2020 • 7:00 Min
Policy or Pandemic: Which Will Drive Asset Prices? Global Fixed Income Team Jim Caron, Head of Global Macro Strategies, provides timely insights on what’s driving fixed income markets today. Listen now.

Resilience • 24-Jun-2020
Alternative Lending and the Resilient Consumer AIP Alternative Lending Group Fintech-driven alternative lending exhibited resilience during the acute initial phase of the COVID-19 pandemic. Recent data supports continued optimism.

Investment Insight • 24-Jun-2020
Post-Crisis Private Markets Investing Portfolio Solutions Group In light of the extraordinary market disruption due to the spread of the COVID-19 pandemic, the PSG team considers the broader potential impacts of the current crisis on private markets and describes potential areas of investment opportunity going forward in the post-crisis environment.

Market Pulse • 22-Jun-2020 • 3:45 Min
Q3 2020: Better? Yes. But Good Enough? Global Fixed Income Team Jim Caron, Head of Global Macro Strategies, provides timely insights on what’s driving fixed income markets today. Listen now.

Market Pulse • 19-Jun-2020
Active Management in Fixed Income: Now More than Ever Global Fixed Income Team Given that interest rates are near zero, or negative, in many countries for the foreseeable future, will bonds be useful diversifiers in portfolios? Jim Caron, Global Fixed Income Portfolio Manager, thinks “yes” but the key is an actively managed focus on alpha.

Market Pulse • 15-Jun-2020 • 8:12 Min
Credit Check with Richard Ford Global Fixed Income Team Credit markets have been under tremendous pressure. What should investors think? Richard Ford, Global Head of Credit, offers his views. Listen now.

Global Fixed Income Bulletin • 15-Jun-2020
The Tide Turns: It’s More than Hope Global Fixed Income Team Despite unprecedented bad economic data and the uncertain course of the coronavirus, markets continued on an upward trajectory in May and rallied further.

Resilience • 15-Jun-2020
Long Short Equity Strategies: "Hedging" Your Bets AIP Hedge Fund Team Amid the market uncertainty caused by the COVID-19 pandemic, investors may be seeking ways to add resilience to their portfolios. Long-short equity strategies have the potential to deliver steady returns in volatile markets.

Market Pulse • 15-Jun-2020 • 5:48 Min
New Normal? No Such Thing. The Market is Just Establishing a New Range. Global Fixed Income Team Jim Caron, Head of Global Macro Strategies, provides timely insights on what’s driving fixed income markets today. Listen now.

Global Equity Observer • 12-Jun-2020
Unlocking the Future – The Post-COVID World International Equity Team As lockdown measures ease, the International Equity Team considers how the global pandemic has demonstrated the importance of a digital presence for companies.

Liquidity Watch • 10-Jun-2020 • 3:51 Min
June FOMC Meeting Recap Global Liquidity Team Brian Buck, Executive Director Morgan Stanley Global Liquidity, discusses the latest messaging from the Federal Reserve about monetary policy, including interest rates, and the implications for short-term investors. Listen now.

Consilient Observer • 09-Jun-2020
The Math of Value and Growth Counterpoint Global We show how corporate valuations change as we vary assumptions about growth, return on incremental invested capital, and the discount rate.

TALES FROM THE EMERGING WORLD • 09-Jun-2020
The Era After the Coronavirus Global Emerging Markets Team Ruchir Sharma, Head of Emerging Markets and Chief Global Strategist, looks at the huge push the pandemic is giving his Four Ds—deglobalization, depopulation, declining productivity and rising government debt.

Market Pulse • 08-Jun-2020 • 6:31 Min
The Reopening Rally and the Fed’s Forward Guidance Global Fixed Income Team Jim Caron, Head of Global Macro Strategies, provides timely insights on what’s driving fixed income markets today. Listen now.

Takeaways & Key Expectations • 04-Jun-2020
Equity Market Commentary - May 2020 Applied Equity Advisors Team Value stocks historically garner their biggest outperformance coming out of recessions. But investors' emotional conflict between recency bias and opportunity is more acute in this environment.

Liquidity Watch • 03-Jun-2020 • 9:50 Min
Negative Interest Rates and the Implications for Money Market Funds Global Liquidity Team Bob Leggett, Executive Director Morgan Stanley Global Liquidity, discusses considerations around negative interest rates and the implications for the money market fund industry. Listen now.

Market Pulse • 01-Jun-2020 • 6:36 Min
Follow the Money, Find the Performance Global Fixed Income Team Jim Caron, Head of Global Macro Strategies, provides timely insights on what’s driving fixed income markets today. Listen now.

Resilience • 31-May-2020
How to Remain Resilient through a Downturn Investing in stocks is risky—but historically it’s been a risk worth taking.

Convergence • 30-May-2020
Sustainability Research Counterpoint Global Counterpoint Global discusses how Sustainability Research is additive to their existing investment process and converges the pursuit of profits and purpose.

Media Appearance • 28-May-2020
Ruchir Sharma Authors Op-Ed in the New York Times Global Emerging Markets Team In “How the Pandemic Is Turning Us Inward” Ruchir Sharma, Chief Global Strategist and Head of Emerging Markets, speculates about COVID-19’s ability to accelerate trends that were already underway.

Market Pulse • 28-May-2020 • 3:05 Min
In a High Yield Minute Global Fixed Income Team Corporate liquidity profiles have been severely challenged during the lockdown. Sarah Harrison, Head of European High Yield, believes the policy response in Europe so far has helped stem default rates, and further action has the potential to restore investor confidence in the European High Yield asset class. Listen now.

Sustainable Investing • 26-May-2020
Asset Owners See Sustainability as Core to the Future of Investing Morgan Stanley’s second Sustainable Signals survey of institutional asset owners provides key insights on current trends in sustainable investing.

Market Pulse • 26-May-2020
The Breadth of the Market Is Encouraging Global Fixed Income Team Jim Caron, Head of Global Macro Strategies, provides timely insights on what’s driving fixed income markets today. Listen now.

Resilience • 21-May-2020
Our Formula for Earnings Resilience International Equity Team In our view, “the formula” for successful investing consists of two critical elements: pricing power and recurring revenues.

Resilience • 21-May-2020
Resilient by Design International Equity Team In this changing world, today and beyond the pandemic, global equity investors should be looking for companies that are resilient and portfolio management teams that can find them.

Consilient Observer • 20-May-2020
Myth Busting, Popular Delusions, and the Variant Perception Counterpoint Global We address four myths or popular delusions in the investment industry.

Insight Article • 20-May-2020

An Introduction to Alternative Lending

AIP Alternative Lending Group

As investors grapple with the portfolio implications of a global pandemic, fintech-driven alternative lending may offer attractive absolute and risk-adjusted return characteristics. An allocation to this nascent private credit asset class may provide exposure to a secular shift in the way consumers and small businesses access capital.

Market Pulse • 18-May-2020 • 5:59 Min
Credit Check with Richard Ford Global Fixed Income Team Credit markets have been under tremendous pressure. What should investors think? Richard Ford, Global Head of Credit, offers his views. Listen now.

Market Pulse • 18-May-2020 • 6:32 Min
Never Say Never: The Pros and Cons of Negative Interest Rates Global Fixed Income Team Jim Caron, Head of Global Macro Strategies, provides timely insights on what’s driving fixed income markets today. Listen now.

Global Fixed Income Bulletin • 15-May-2020
The Long and Winding Road Global Fixed Income Team There may be many twists and turns on the road to full economic recovery, but the longer your investment horizon, the more confident we believe you should be.

Global Equity Observer • 15-May-2020
The COVID-19 Accelerator International Equity Team Will COVID-19 be a great accelerator of existing forces and trends? The International Equity team explores.

Insight Article • 14-May-2020
Emerging Markets Debt Outlook: Surviving Outside the Tent Global Fixed Income Team Has the imminent demise of Emerging Markets been greatly exaggerated once again? Find out what the Emerging Markets Debt Team thinks.

Market Pulse • 13-May-2020
Where Are Bond Yields Going? It depends on what part of the curve you are asking about. Global Fixed Income Team The goal of the Fed’s policy response function is to prevent the liquidity crisis brought on by Covid-19 from becoming a solvency crisis. Jim Caron reviews the impact on bond yields.

Market Pulse • 11-May-2020
Jobs Report: Is the Worst Behind Us? Global Fixed Income Team Jim Caron, Head of Global Macro Strategies, provides timely insights on what’s driving fixed income markets today. Listen now.

TALES FROM THE EMERGING WORLD • 07-May-2020
Why Markets Are Partying Through the Pandemic Global Emerging Markets Team Ruchir Sharma, Head of Emerging Markets and Chief Global Strategist, explains why stock markets are rallying amid the worst economic crisis since the Great Depression.

Market Pulse • 07-May-2020 • 4:31 Min
Bank of England Update and U.K. Outlook Anton Heese Anton Heese, European Macro Strategist for the Global Fixed Income Team, offers his perspective on the May 7 Bank of England Monetary Policy Decision. Listen now.

Market Pulse • 04-May-2020 • 8:51 Min
Credit Check with Richard Ford Global Fixed Income Team Credit markets have been under tremendous pressure. What should investors think? Richard Ford, Global Head of Credit, offers his views. Listen now.

Market Pulse • 04-May-2020 • 4:30 Min
The Risks Ahead: An Historically Weak Jobs Report & New U.S./China Tensions Global Fixed Income Team Jim Caron, Head of Global Macro Strategies, provides timely insights on what’s driving fixed income markets today. Listen now.

Insight Video • 04-May-2020
Applied Equity Advisors Investment Process Applied Equity Advisors Team A global, unconstrained and style flexible investment process lets Applied Equity Advisors “stay in the game” and take advantage of a wider set of investment opportunities.

Sustainable Investing • 30-Apr-2020
The Butterfly Effect & COVID-19: Six Implications for Sustainable Investing in an Interconnected World Global Fixed Income Team COVID-19 is a disruption event with enormous personal, societal and economic repercussions. As fixed income investors, we are watching six implications of the pandemic for sustainable investing.

Market Pulse • 29-Apr-2020

The Fed: Playing a Strong Hand but Unwilling to Show Their Cards

Global Fixed Income Team

On April 29 the Fed indicated the need to keep credit flowing, for both for businesses and individuals. To date most of the Fed’s actions are supporting credit in the business sector, to the point where we do not believe the Fed has done enough with respect to consumer credit, particularly in light of their statements about keeping credit flowing to the “real economy.” Jim Caron looks at a Fed that is playing a strong hand, but unwilling to show all its cards.

Insight Article • 29-Apr-2020
Fintech Continues to Disrupt Consumer Lending AIP Alternative Lending Group In this article, AIP Alternative Lending Group Portfolio Manager Ken Michlitsch shares his insights on why fintech continues to disrupt consumer lending.

Market Pulse • 27-Apr-2020 • 4:51 Min
Market Pulse with Jim Caron: A Big Week for Global Central Banks Global Fixed Income Team Jim Caron, Head of Global Macro Strategies, provides timely insights on what’s driving fixed income markets today. Listen now.

Market Pulse • 23-Apr-2020 • 04:24 Min
EM Leaders: Looking to Future Growth Global Emerging Markets Team Vishal Gupta, Portfolio Manager on the Global Emerging Markets team, discusses the impact of COVID-19 on the Emerging Markets Leaders strategy. Listen now.

Takeaways & Key Expectations • 23-Apr-2020
Equity Market Commentary - April 2020 Applied Equity Advisors Team Yield curve signals. Bear markets. The “Reopening of the Economy” versus “Stay at Home” stocks. Andrew Slimmon, Head of the Applied Equity Advisor team, covers these topics – and much more.

Market Pulse • 23-Apr-2020 • 2:56 Min
The Case for EM in the Post-Pandemic World Global Emerging Markets Team Jitania Kandhari, Head of Macroeconomic Research on the Global Emerging Markets team and portfolio manager for the Emerging Markets Breakout Nations and Active International Allocation strategies, provides timely insights on why we believe now is the time for emerging market equities. Listen now.

Market Pulse • 20-Apr-2020 • 6:21 Min
Whatever It Takes: Loan Programs, Oil & the Reopening of America Global Fixed Income Team Jim Caron, Head of Global Macro Strategies, provides timely insights on what’s driving fixed income markets today. Listen now.

Market Pulse • 20-Apr-2020
Recent Fed Actions: Implications for the High Yield Market Global Fixed Income Team The Fed’s involvement in the high yield market is unprecedented, so there is no prior history to look back upon as a guide. The Global High Yield team explores how the action could impact investors.

Global Fixed Income Bulletin • 16-Apr-2020
The End of the Beginning Global Fixed Income Team We’re hopeful that policy actions will help the economy return to normal as the health crisis recedes. But it remains unknown how deep and protracted the downturn will be as we’re held hostage to the path of the virus.

Market Pulse • 15-Apr-2020
Allocating Fixed Income Assets Through the Great Unknown Global Fixed Income Team We are facing a health crisis the likes of which we have not witnessed for close to a century. A seismic move to de-risk portfolios has created volatility and illiquidity not seen since 2008, and it is against this uncertain backdrop we invest today. Read more about the Global Fixed Income Team’s best thinking.

Market Pulse • 13-Apr-2020 • 6:36 Min
Market Pulse with Jim Caron: The Alphabet Soup of Liquidity & Solvency Global Fixed Income Team Jim Caron, Head of Global Macro Strategies, provides timely insights on what’s driving fixed income markets today. Listen now.

PATH • 08-Apr-2020
Coronavirus: Markets’ excessive optimism Global Balanced Risk Control Team In this article, the GBaR team provides an update on its latest market views and asset allocation positioning in light of the spreading impact of the coronavirus.

TALES FROM THE EMERGING WORLD • 07-Apr-2020
The Strange Shape of the Coronavirus Crash Global Emerging Markets Team Ruchir Sharma, Head of Emerging Markets and Chief Global Strategist, makes the case for great opportunities in emerging markets in the After Coronavirus world.

Market Pulse • 06-Apr-2020 • 4:27 Min
Credit Beat with Joseph Mehlman Global Fixed Income Team Joseph Mehlman, Head of U.S. Credit, provides timely insights on the fast-changing world of U.S. credit markets. Listen now.

Market Pulse • 06-Apr-2020 • 4:44 Min
Credit Check with Richard Ford Global Fixed Income Team Credit markets have been under tremendous pressure. What should investors think? Richard Ford, Global Head of Credit, offers his views. Listen now.

Market Pulse • 06-Apr-2020 • 6:15 Min
Market Pulse with Jim Caron: A Silver Lining - Volatility Is Dropping Global Fixed Income Team Jim Caron, Head of Global Macro Strategies, provides timely insights on what’s driving fixed income markets today. Listen now.

Sustainable Investing • 03-Apr-2020
Debunking Six Myths About Climate Investing AIP Private Markets Team AIP Private Markets’ Head of Impact Investing finds that solutions to climate change are nuanced and may generate compelling investment opportunities.

Market Pulse • 02-Apr-2020
Building a Better Transmission Mechanism: Extending Credit to the Real Economy Global Fixed Income Team It's critical to understand the policy reaction functions designed to support markets during times of crisis because it provides insight into which assets may perform best as the economy moves out of the crisis environment.

Market Pulse • 02-Apr-2020
Active International Allocation - Market Commentary Jitania Kandhari, Ben Rozin The MSIM Active International Allocation Team offers their perspective on the global markets and the AIA portfolio in the context of the COVID-19 pandemic.

Market Pulse • 31-Mar-2020
Rating Agencies Action Summary Global Fixed Income Team The COVID-19 crisis has disrupted supply chains of many companies and caused commodity prices to fall. How will rating agencies react to this disruption? The Global Credit research team explores.

Insight Article • 31-Mar-2020
Increasing Duration Opens Up New Realms for the Private Equity Secondaries Market AIP Private Markets Team The AIP Private Markets Team explores possible solutions to check or reverse the upward trend in duration and allay investors' concerns about increasing their allocation to private equity.

Global Equity Observer • 31-Mar-2020
In Search of Resilience International Equity Team In unprecedented times, resilience is essential. How can investors build a resilient portfolio in tough times? Bruno Paulson explains.

Engagement Report • 30-Mar-2020
Engage - Spring 2020 International Equity Team The latest edition of Engage, the International Equity Team’s semi-annual update on their ESG engagement activity.

Path • 27-Mar-2020
Coronavirus: Focus shifts to the US Andrew Harmstone, Manfred Hui, Christian Goldsmith In this article, the GBaR team provides an update on its latest market views and asset allocation positioning in light of the spreading impact of the coronavirus.

Insight Article • 24-Mar-2020
The Rise of Hedge Fund Co-Investments AIP Hedge Fund Team Hedge fund co-investments have an important role to play in client portfolios, explains AIP Hedge Fund Solutions Team Managing Director Jarrod Quigley.

Market Pulse • 23-Mar-2020 • 7:56 Min
Market Pulse with Jim Caron: Encouraging Signs Emerging From Fed & Fiscal Responses Global Fixed Income Team Jim Caron, Head of Global Macro Strategies, provides timely insights on what’s driving fixed income markets today. Listen now.

Path • 23-Mar-2020

Five Sectors That Cannot Escape Climate Change

Global Balanced Risk Control Team

Climate change is inescapable and many—if not all—governments are responding more decisively than ever. A significant risk is that markets are not pricing in the effects of these policy responses quickly enough. We explore five sectors—financial services, mining, oil and gas, utilities and autos—likely to be hit the hardest.

Consilient Observer • 20-Mar-2020
BIN There, Done That Counterpoint Global To improve your forecasting skills, try decreasing noise. Analyzing superforecasters reveals forecasters can be trained to more effectively update their views, reduce bias and reduce noise.

PATH • 20-Mar-2020
Coronavirus: At last - initial signs of credible action Global Balanced Risk Control Team In this article, the GBaR team provides an update on its latest market views and asset allocation positioning in light of the spreading impact of the coronavirus.

Global Equity Observer • 17-Mar-2020
Financing Climate Change William Lock, Bruno Paulson, Dirk Hoffmann-Becking Banking regulation may force the economy to shift towards a less carbon intensive model more quickly than expected. The International Equity Team discusses.

Market Pulse • 13-Mar-2020
European Central Bank: Looking for Silver Linings in Disappointment Global Fixed Income Team The initial market response to the European Central Bank (ECB) meeting on March 12th was disappointment – equity prices fell while Bund yields rose, depsite the ECB actually delivered nearly everything analysts had been expecting from it.

Market Pulse • 11-Mar-2020
Energy Market Turmoil: What's Next? Global Fixed Income Team After what was supposed to be a coordinated supply cut by OPEC+ to balance markets and keep oil prices high, Saudi Arabia and Russia instigated an oil price war.

Market Pulse • 11-Mar-2020
Coronavirus: Positioning Portfolios for a Delayed Recovery Global Balanced Risk Control Team In this article, the GBaR team provides an update on its latest market views and asset allocation positioning in light of the spreading impact of the coronavirus.

Tales From the Emerging World • 10-Mar-2020
Our Coronavirus Worries Are a Bit Different Global Emerging Markets Team Ruchir Sharma, Head of Emerging Markets and Chief Global Strategist, offers his perspective on the burgeoning coronavirus epidemic and its potential impact on the markets.

Insight Article • 09-Mar-2020
Living on the Edge International Equity Team Late cycle investors considering a bumpier ride for markets may wish to revisit the attractions of truly active investing to bridge any potential yawning chasms ahead.

Engagement Report • 06-Mar-2020
ESG and Sustainable Investing Report Counterpoint Global The Global Opportunity team shares its annual report on ESG engagement activity.

Market Pulse • 03-Mar-2020
Emergency Fed Cut: Not a Vaccine, but a Treatment for Symptoms Global Fixed Income Team On March 3, the Federal Reserve cut rates by 50 basis points (bps) to between 1-1.25%. What should fixed income investors make of this move?

Market Pulse • 02-Mar-2020
Update on Coronavirus and the Markets Global Fixed Income Team By now it’s clear the Coronavirus will have at least a short-term impact on the global economy. The question is, how do fixed income investors move forward?

Global Multi-Asset Viewpoint • 02-Mar-2020
Global Recovery Delayed, But Not Derailed Sergei Parmenov, Cyril Moulle-Berteaux MSIM’s Global Multi-Asset Team discusses their investment perspective in the latest viewpoint: “Global Recovery Delayed, But Not Derailed."

Global Fixed Income Bulletin • 29-Feb-2020
It’s All About the Virus Global Fixed Income Team It’s now clear the coronavirus pandemic will have a meaningful impact on the global economy. As long as the virus’s impact remains disruptive rather than destructive, we should be fine, eventually.

Sustainable Investing • 28-Feb-2020
Why ESG in Fixed Income Investing? Global Fixed Income Team Portfolio Manager Joe Mehlman explores the beliefs underpinning the Global Fixed Income team's approach to ESG.

Sustainable Investing • 28-Feb-2020 • 2:14 Min
Four Reasons to Incorporate ESG in Sovereign Bond Investing Global Fixed Income Team Head of Global Macro Strategies Jim Caron discusses the potential benefits of using ESG in fixed income.

Sustainable Investing • 28-Feb-2020
A Systematic Approach to ESG Integration Head of Credit Joe Mehlman explains how the team incorporates ESG factors in their investment process.

Sustainable Investing • 28-Feb-2020
ESG: An Essential Component to Securitized Assets Global Fixed Income Team Gregory Finck explains what makes securitized assets a natural fit for incorporating ESG principles.

Market Pulse • 25-Feb-2020
How to Read the Drop in U.S. Treasury Yields Global Fixed Income Team The U.S. 10 Year has reached historic lows. Jim Caron explores what that could say about the state of the U.S. economy.

2020 Outlook • 20-Feb-2020 • 4:25 Min
Not the Usual Suspects Global Balanced Risk Control Team This video provides a short summary of GBaR Team's Outlook for 2020

TAKEAWAYS & KEY EXPECTATIONS • 14-Feb-2020
Equity Market Commentary - Feb 2020 Applied Equity Advisors Team In his February commentary, Andrew Slimmon muses about the global equity market and wonders whether it has “gone off its rocker” considering the agitated state of affairs in the U.S. and the world.

Market Pulse • 12-Feb-2020
The Coronavirus and Its Impact on the Global Market Global Fixed Income Team What will be the long-term impact of the Coronavirus on the global economy? Jim Caron thinks it all depends on the shape of the eventual recovery.

2020 Outlook • 10-Feb-2020
Fading the U.S. FOMO Market and Five Keys to Outperformance in 2020 Jitania Kandhari, Ben Rozin If "fear of missing out" has propelled the U.S. stock market over others, what can investors expect from the early years of the 2020s and the decade to come? The Active International Allocation team outlines their five key investment expectations.

TAKEAWAYS & KEY EXPECTATIONS • 31-Jan-2020
Equity Market Commentary - January 2020 Applied Equity Advisors Team Andrew Slimmon recaps 2019, highlighting the benefits of managing style-unconstrained strategies. Going into 2020 he acknowledges that the equity market is a complex beast, yet finds it remarkable how consistently it behaves relative to history.

Global Equity Observer • 31-Jan-2020
The Second Mountain International Equity Team Today’s environmental and social issues offer businesses ample opportunity to focus on purpose as well as profit.

2020 Outlook • 24-Jan-2020
Not the Usual Suspects Global Balanced Risk Control Team World economic growth appears sufficiently robust to resist recession, but is slowing enough to prompt some governments to implement fiscal stimulus programmes. Heading into 2020, we see the brightest spots for return potential as being outside the usual suspects.

Market Pulse • 12-Jan-2020
If the economy is so darn good, why are yields so darn low? Global Fixed Income Team Data is getting better, but bond yields are not following. What's going on here? Jim Caron explains.

Global Equity Observer • 31-Dec-2019
Between Scylla and Charybdis International Equity Team How a quality bias helps investors steer between the twin perils of recession and inflation.

Market Alert • 31-Dec-2019 • 4 Min
Don’t Overreact to an Early January Applied Equity Advisors Team Andrew Slimmon, Head of the Applied Equity Advisors Team, offers a timely perspective on what is shaping the markets now as well as insights on investment opportunities and risk within global equities. Listen to his Market Alert.

Market Pulse • 18-Dec-2019
U.S. - China Phase 1: More a Truce Than a Deal, but a Step in the Right Direction Global Fixed Income Team On December 15 the U.S. and China stopped the “rock throwing” as no new tariffs were announced by either of the antagonists. And while there is no official deal in place, this “truce” is clearly a good first step, as outlined by Jim Caron.

Market Pulse • 13-Dec-2019
December FOMC: Connecting the Dots Global Fixed Income Team After three rate cuts in 2019, the Fed indicated that it would not touch rates in 2020, instead forecasting that its next action would be a rate increase in 2021. The market, however, has a different view, pricing in a rate cut at the end of 2020.

TAKEAWAYS & KEY EXPECTATIONS • 05-Dec-2019
Equity Market Commentary - December 2019 Applied Equity Advisors Team In his December commentary Andrew Slimmon talks about staying in the moment and focusing on “where we are NOW,” not where we might be six months or a year from now.

Market Alert • 04-Dec-2019 • 4 Min
Capitulation is Just Commencing Applied Equity Advisors Team Andrew Slimmon, Head of the Applied Equity Advisors Team, offers a timely perspective on what is shaping the markets now as well as insights on investment opportunities and risk within global equities. Listen to his Market Alert.

Insight Article • 02-Dec-2019

Alternative Lending: Why Today and Through the Credit Cycle?

AIP Alternative Lending Group

Against a backdrop of low interest rates and tight corporate credit spreads, investors struggle to find sufficient yield from traditional fixed income. Fintech-driven alternative lending is a nascent, consumer-focused private credit asset class that potentially offers yield pick-up, as well as duration and diversification benefits.

Global Equity Observer • 29-Nov-2019
The ESG Advantage International Equity Team Does investing in companies with sound ESG practices mean investing in better companies?

Market Pulse • 27-Nov-2019
Top 10 for ‘20 Global Fixed Income Team In our view, 2019 was a mid-cycle reset where the Fed cut rates three times, capital expenditure bottomed out and global GDP slowed. The bad news is that yields are low and investors are long on duration, a big risk given that the Fed will likely stay on the sidelines and not lower rates in 2020.

Market Pulse • 19-Nov-2019

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