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global-equity-observer
page
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Global Equity Observer
• May 31, 2023
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Alistair Corden-Lloyd
The resilience to navigate the sorts of global challenges we’ve seen over the last few years requires quality capital allocations. We’ve seen remarkable resilience in our holdings because the companies we look for exhibit deep, wide and well-managed economic moats that protect and grow market share, sustain or improve profitability, and potentially deliver attractive long-term returns. But maintaining those moats requires sustained investment in the unique attributes of the company’s offerings.
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carons-corner
audio
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Caron's Corner
• May 30, 2023
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Jim Caron
Jim Caron, Co-Lead Global Portfolio Manager and Co-Chief Investment Officer, Global Balanced Risk Control Team, shares his macro thematic views on key market drivers.
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audio
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Insight audio
• May 26, 2023
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Fixed Income Managed Solutions
John Dillon, Lead Municipal Portfolio Manager, Fixed Income Managed Solutions Team, discusses trends and opportunities in the municipal markets. Listen now.
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tales-from-the-emerging-world
page
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Tales From the Emerging World
• May 24, 2023
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Paul Psaila, Uday Tharar
Brazil’s president Lula has unveiled ambitious spending plans to appease his supporters, but we believe he will moderate his tone and embrace responsible economic policies to manage the fiscal policy and allow the central bank to start cutting rates.
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carons-corner
audio
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Caron's Corner
• May 22, 2023
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Jim Caron
Jim Caron, Co-Lead Global Portfolio Manager and Co-Chief Investment Officer, Global Balanced Risk Control Team, shares his macro thematic views on key market drivers.
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market-alert
audio
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Market Alert
• May 16, 2023
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Andrew Slimmon
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.
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global-fixed-income-bulletin
page
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Global Fixed Income Bulletin
• May 15, 2023
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Fixed Income Team
After the woes of March, investors were gifted with a relatively mellow month in April. Yet given continued uncertainty, the Fixed Income Team recommends remaining flexible.
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audio
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Insight audio
• May 12, 2023
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Fixed Income Managed Solutions
John Dillon, Lead Municipal Portfolio Manager, Fixed Income Managed Solutions Team, discusses trends and opportunities in the municipal markets. Listen now.
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audio
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Insight audio
• May 09, 2023
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Kevin Lynyak
Kevin Lynyak and James Benadum provide a review and outlook on the Preferred Securities Market.
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carons-corner
audio
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Caron's Corner
• May 08, 2023
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Jim Caron
Jim Caron, Co-Lead Global Portfolio Manager and Co-Chief Investment Officer, Global Balanced Risk Control Team, shares his macro thematic views on key market drivers.
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global-equity-observer
page
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Global Equity Observer
• May 08, 2023
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Bruno Paulson
The equity market looks complacent. In the face of continuing wage inflation, pessimistic bond market signals, tightening lending standards, low small business confidence, falling GDP forecasts and weakening consumer expectations—in short, a possible, even probable, U.S. recession—it continues trading on high multiples. This is a concern if you believe the economic reckoning was merely deferred rather than avoided.
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path
page
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PATH
• May 05, 2023
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Andrew Harmstone, Jim Caron
While the risk of a recession in the short term appears to have diminished, the overall effects of central bank tightening have yet to be fully felt. Despite the recent improvement in data, balanced portfolio diversification remains crucial. Read here how we are addressing this.
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video
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Media Appearance
• May 03, 2023
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Lauren Hochfelder
Lauren Hochfelder, CEO of Morgan Stanley Real Estate Investing (MSREI) and Head of MSREI Americas, talks commercial real estate outlook, opportunities and lessons learned in this interview for the Commercial Observer.
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carons-corner
audio
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Caron's Corner
• May 03, 2023
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Jim Caron
Jim Caron, Co-Lead Global Portfolio Manager and Co-Chief Investment Officer, Global Balanced Risk Control Team, shares his macro thematic views on key market drivers.
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sustainable-investing
calvert
page
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Calvert
• May 03, 2023
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John Streur
In this article, Calvert describes the four areas in which material changes are impacting the responsible investing landscape.
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tales-from-the-emerging-world
page
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Tales From the Emerging World
• May 03, 2023
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Eric Carlson, Candy Chao
Businesses are pushing for sustainable practices to reduce both environmental risks and operating costs, as they anticipate evolving consumer preferences and potential regulatory changes. The adoption of a circular practice shifts to a mindset of “reduce, reuse and recycle” from the “take-make-waste” model which has created a glut of waste and increasing environmental costs. Eric Carlson and Candy Chao explore.
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market-monitor
page
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Market Monitor
• May 03, 2023
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Get a quick overview and dive into market data with our comprehensive, visual review of global economic and asset class performance presented in charts and graphs.
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carons-corner
audio
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Caron's Corner
• May 01, 2023
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Jim Caron
Jim Caron, Co-Lead Global Portfolio Manager and Co-Chief Investment Officer, Global Balanced Risk Control Team, shares his macro thematic views on key market drivers.
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audio
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Media Appearance
• Apr 27, 2023
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Aaron Sack
This conversation covers Head of Morgan Stanley Capital Partners (MSCP) Aaron Sack’s path to Morgan Stanly, his experience investing from a bank-affiliated PE platform, and his team’s investment principles and approach across sourcing, due diligence, deal making, and operational improvements. The discussion closes with notes on the current market dynamics, competitive positioning, and an example MSCP investment.
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carons-corner
audio
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Caron's Corner
• Apr 24, 2023
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Jim Caron
Jim Caron, Co-Lead Global Portfolio Manager and Co-Chief Investment Officer, Global Balanced Risk Control Team, shares his macro thematic views on key market drivers.
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audio
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Insight audio
• Apr 21, 2023
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Fixed Income Managed Solutions
John Dillon, Lead Municipal Portfolio Manager, Fixed Income Managed Solutions Team, discusses trends and opportunities in the municipal markets. Listen now.
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market-monitor
page
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Market Monitor
• Apr 19, 2023
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Multi-Asset Credit Team
Analysis of global credit markets and where we see future opportunities.
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consilient-observer
page
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Consilient Observer
• Apr 18, 2023
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Michael Mauboussin, Dan Callahan
U.S. companies are increasingly paying employees with stock-based compensation (SBC) rather than cash. We begin with data showing overall trends, then turn to the accounting issues, and wrap up by evaluating the strengths and weaknesses of SBC. Ongoing shareholders typically realize more dilution with young companies than with old ones because SBC tends to be more significant, and buybacks less significant, for young companies. Research is equivocal on the benefits commonly cited for SBC.
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carons-corner
audio
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Caron's Corner
• Apr 17, 2023
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Jim Caron
Jim Caron, Co-Lead Global Portfolio Manager and Co-Chief Investment Officer, Global Balanced Risk Control Team, shares his macro thematic views on key market drivers.
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page
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Insight Article
• Apr 14, 2023
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Andrew Harmstone, Jim Caron
The traditional 60% equity / 40% bond portfolio will not work well when asset returns are highly correlated. Employing a balanced and active management approach to achieve more stable risk-adjusted returns may prove superior, and is the overriding goal of the Global Balanced Risk Control Strategy.
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sustainable-investing
calvert
page
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Calvert
• Apr 13, 2023
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Yijia Chen
A new Calvert paper on gender diversity focuses on the economic and social forces behind improvements in the gender composition of the U.S. workforce — as well as international markets — over the past several decades.
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takeaways-key-expectations
page
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Takeaways & Key Expectations
• Apr 13, 2023
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Andrew Slimmon
In his April TAKE, Senior Portfolio Manager Andrew Slimmon articulates the frustrations of both bulls and bears with regard to today’s equity markets and how Applied Equity Advisors’ portfolios are positioned to capture potential opportunities.
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market-monitor
page
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Market Monitor
• Apr 11, 2023
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Emerging Markets Debt Team
In-depth review of fundamentals and valuations across emerging markets debt.
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market-monitor
page
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Market Monitor
• Apr 11, 2023
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Floating-Rate Loan Group
Insight on loan market fundamentals and the role of floating-rate loans within portfolios.
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global-fixed-income-bulletin
page
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Global Fixed Income Bulletin
• Apr 10, 2023
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Fixed Income Team
While the Fixed Income Team does not believe the events of March are a harbinger of a new financial crisis, it does point to weak links in the economy and increased stresses that are likely to unfold in the months ahead.
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carons-corner
audio
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Caron's Corner
• Apr 10, 2023
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Jim Caron
Jim Caron, Co-Lead Global Portfolio Manager and Co-Chief Investment Officer, Global Balanced Risk Control Team, shares his macro thematic views on key market drivers.
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audio
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Insight audio
• Apr 06, 2023
|
Fixed Income Managed Solutions
John Dillon, Lead Municipal Portfolio Manager, Fixed Income Managed Solutions Team, discusses trends and opportunities in the municipal markets. Listen now.
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path
page
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PATH
• Apr 05, 2023
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Andrew Harmstone, Jim Caron
We continue to expect short-term turbulence in the wake of banking sector volatility. With U.S. inflation slowing, the Fed’s signal that it is close to ending its hiking should help avoid a sharper recession. See how we are responding.
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market-monitor
page
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Market Monitor
• Apr 05, 2023
|
Get a quick overview and dive into market data with our comprehensive, visual review of global economic and asset class performance presented in charts and graphs.
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carons-corner
audio
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Caron's Corner
• Apr 03, 2023
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Jim Caron
Jim Caron, Co-Lead Global Portfolio Manager and Co-Chief Investment Officer, Global Balanced Risk Control Team, shares his macro thematic views on key market drivers.
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page
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Insight Article
• Mar 31, 2023
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Laurel Durkay, Angeline Ho, Desmond Foong
The MSIM Global Listed Real Assets Team explores why the time is ripe to invest opportunistically in Hong Kong and China.
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market-monitor
page
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Market Monitor
• Mar 27, 2023
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Floating-Rate Loan Group
Insight on loan market fundamentals and the role of floating-rate loans within portfolios.
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market-monitor
page
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Market Monitor
• Mar 27, 2023
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Multi-Asset Credit Team
Analysis of global credit markets and where we see future opportunities.
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market-monitor
page
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Market Monitor
• Mar 27, 2023
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Emerging Markets Debt Team
In-depth review of fundamentals and valuations across emerging markets debt.
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carons-corner
audio
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Caron's Corner
• Mar 27, 2023
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Jim Caron
Jim Caron, Co-Lead Global Portfolio Manager and Co-Chief Investment Officer, Global Balanced Risk Control Team, shares his macro thematic views on key market drivers.
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audio
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Insight audio
• Mar 24, 2023
|
Fixed Income Managed Solutions
John Dillon, Lead Municipal Portfolio Manager, Fixed Income Managed Solutions Team, discusses trends and opportunities in the municipal markets. Listen now.
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tales-from-the-emerging-world
page
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Tales From the Emerging World
• Mar 23, 2023
|
Jitania Kandhari, Saumya Jain
Post-pandemic, untangling global supply chains through reshoring, friend-shoring and nearshoring has created opportunities for emerging markets like India, Vietnam, Thailand, Indonesia and Mexico. Jitania Kandhari and Saumya Jain of the Emerging Markets Equity Team explain.
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global-equity-observer
page
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Global Equity Observer
• Mar 23, 2023
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Helena Miles
What constitutes a valuable health care intervention? The International Equity Team believes that wider use of diagnostic testing and early screening can significantly improve patient outcomes and help optimize health care expenditure. For investors, diagnostics companies offer high returns on operating capital employed, underpinned by barriers to entry, recurring revenues and nondiscretionary end-market demand.
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carons-corner
audio
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Caron's Corner
• Mar 22, 2023
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Jim Caron
Jim Caron, Co-Lead Global Portfolio Manager and Co-Chief Investment Officer, Global Balanced Risk Control Team, shares his macro thematic views on key market drivers.
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consilient-observer
page
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Consilient Observer
• Mar 22, 2023
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Michael Mauboussin, Dan Callahan
Probability and confidence are distinct concepts, and we believe it is useful for investors to separate them. For example, the price of two potential investments may present the same discount to expected value, but confidence in the probabilities for one may exceed those of the other. That nuance may be relevant for determining the appropriate weighting of securities or evaluating diversification.
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page
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Insight Article
• Mar 22, 2023
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Jarrod Quigley
Hedge fund co-investments have an important role to play in client portfolios, explains AIP Hedge Fund Solutions Team Managing Director Jarrod Quigley.
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carons-corner
audio
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Caron's Corner
• Mar 20, 2023
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Jim Caron
Jim Caron, Co-Lead Global Portfolio Manager and Co-Chief Investment Officer, Global Balanced Risk Control Team, shares his macro thematic views on key market drivers.
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sustainable-investing
engagement-report
page
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Engagement Report
• Mar 16, 2023
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Emerging Markets Equity Team
Learn how the EM Equity team actively advocated for sustainable corporate policies during 2022 and what their ESG stewardship priorities are for 2023.
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page
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Insight Article
• Mar 16, 2023
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Portfolio Solutions Group
Our Portfolio Solutions Group analyzes the key factors that impacted the "denominator effect" in 2022's market downturn.
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page
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Insight Article
• Mar 15, 2023
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Portfolio Solutions Group
Our Portfolio Solutions Group introduces their proprietary Private Markets Asset Allocation Framework (PMAAF) designed to help investors think about how to allocate their dry powder.
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carons-corner
audio
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Caron's Corner
• Mar 13, 2023
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Jim Caron
Jim Caron, Co-Lead Global Portfolio Manager and Co-Chief Investment Officer, Global Balanced Risk Control Team, shares his macro thematic views on key market drivers.
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global-fixed-income-bulletin
page
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Global Fixed Income Bulletin
• Mar 12, 2023
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Fixed Income Team
After a very optimistic January, markets changed their view on the economic outlook in February. In recent market terms, the economic soft landing morphed into a no landing scenario. The Fixed Income team explores.
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audio
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Insight audio
• Mar 10, 2023
|
John Dillon
John Dillon, Lead Municipal Portfolio Manager, Fixed Income Managed Solutions Team, discusses trends and opportunities in the municipal markets. Listen now.
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carons-corner
audio
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Caron's Corner
• Mar 06, 2023
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Jim Caron
Jim Caron, Co-Lead Global Portfolio Manager and Co-Chief Investment Officer, Global Balanced Risk Control Team, looks at the risks associated with the traditional 60/40 portfolio.
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takeaways-key-expectations
page
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Takeaways & Key Expectations
• Mar 06, 2023
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Andrew Slimmon
In his March TAKE, Senior Portfolio Manager Andrew Slimmon provides 7 reasons behind the equity rally, plus Applied Equity Advisors’ portfolio positioning to try to capture the opportunities.
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market-monitor
page
|
Market Monitor
• Mar 03, 2023
|
Get a quick overview and dive into market data with our comprehensive, visual review of global economic and asset class performance presented in charts and graphs.
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path
page
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PATH
• Mar 03, 2023
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Andrew Harmstone, Jim Caron
Strong jobs and inflation prints have led markets to expect a hawkish Fed in the short term, but a closer look at high-frequency jobs data suggests cooling. This labour rebalancing could change the inflation narrative and lead to a rally.
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global-equity-observer
page
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Global Equity Observer
• Mar 01, 2023
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Emma Broderick, Jinny Hyun
Which companies are well placed to capitalize on the long-term behavioral and lifestyle changes that a multi-stage life might bring about? The International Equity Team discusses.
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audio
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Media Appearance
• Feb 28, 2023
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Patrick Whitehead
Patrick Whitehead and Katie Lankalis with LLR Partners joined host Todd Kinney, National Relationship Director at BDO's private equity practice, to discuss value creation strategies and how to drive growth in a volatile market environment, how restrictive financing conditions could impact private equity returns and how the deal landscape could shape up in 2023.
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carons-corner
audio
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Caron's Corner
• Feb 27, 2023
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Jim Caron
Jim Caron, Co-Lead Global Portfolio Manager and Co-Chief Investment Officer, Global Balanced Risk Control Team, shares his macro thematic views on key market drivers.
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sustainable-investing
page
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Sustainable Investing
• Feb 27, 2023
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Kristian Heugh, Marc Fox
The Global Opportunity team shares its annual update on ESG engagement activity.
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audio
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Insight audio
• Feb 24, 2023
|
Fixed Income Managed Solutions
John Dillon, Lead Municipal Portfolio Manager, Fixed Income Managed Solutions Team, discusses trends and opportunities in the municipal markets. Listen now.
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takeaways-key-expectations
page
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Takeaways & Key Expectations
• Feb 22, 2023
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Andrew Slimmon
In his second February TAKE, Senior Portfolio Manager Andrew Slimmon offers up where he sees potential Fat Pitches the equity markets are offering, along with how his portfolios are positioned to try to capture the opportunities.
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global-fixed-income-bulletin
page
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Global Fixed Income Bulletin
• Feb 17, 2023
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Fixed Income Team
After yields rose dramatically in December, bond markets made a U-turn and fell dramatically in January. Markets do not simply change direction this abruptly without a reason, and in this case, there were many.. The Fixed Income Team explains.
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takeaways-key-expectations
page
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Takeaways & Key Expectations
• Feb 17, 2023
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Andrew Slimmon
In his February TAKE, Senior Portfolio Manager Andrew Slimmon marks to market his early January four glaring signals that equity investors were way too bearish. Find out where he thinks we are today.
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consilient-observer
page
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Consilient Observer
• Feb 15, 2023
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Michael Mauboussin, Dan Callahan
This is a guide to estimating the cost of capital, a measure of both expected return and the discount rate. For example, investors discount future free cash flows at the cost of capital to come up with a present value. Our goal is to find a figure that reflects opportunity cost sensibly, is economically sound, and gives the investor and businessperson a practical solution. We recommend settling on a reasonable cost of capital and then allocating the bulk of time thinking about future cash flows.
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page
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Insight Article
• Feb 14, 2023
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Eban Cucinotta, Jarrod Quigley, Robert Rafter, Ping Chen
Over the past several years, investors piled into sectors like Equity Hedge and Event Driven, which fared poorly in 2022, and historically have been highly correlated with equities. However, our analysis shows that many hedge fund sectors benefit from volatility and higher interest rates and we believe they are likely to be good diversifiers for traditional portfolios in today's environment.
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carons-corner
audio
|
Caron's Corner
• Feb 13, 2023
|
Jim Caron
Jim Caron, Co-Lead Global Portfolio Manager and Co-Chief Investment Officer, Global Balanced Risk Control Team, shares his macro thematic views on key market drivers.
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audio
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Insight audio
• Feb 10, 2023
|
Fixed Income Managed Solutions
John Dillon, Lead Municipal Portfolio Manager, Fixed Income Managed Solutions Team, discusses trends and opportunities in the municipal markets. Listen now.
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page
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Insight Article
• Feb 08, 2023
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Seema Hingorani
Now more than ever, asset managers are acknowledging the critical role that talent retention plays in building long-term success. In this piece, Seema Hingorani, Managing Director and Strategic Client and Talent Engagement Lead, explores the talent-retention challenges and opportunities that exist in the industry today, while also examining the specific steps that can be taken to nurture diverse talent, while promoting a more diverse and inclusive workplace.
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market-pulse
audio
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Market Pulse
• Feb 07, 2023
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Kevin Lynyak
Kevin Lynyak, Head of Fixed Income Managed Solutions and Lead Fixed Income Portfolio Manager, discusses trends, risks and opportunities in the fixed income markets. Listen now.
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page
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Media Appearance
• Feb 07, 2023
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Lauren Hochfelder
MSREI Co-CEO, Lauren Hochfelder, sat down with Commercial Observer to discuss her career, what she's seeing, and how US commercial real estate is viewed today from a global investment standpoint.
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market-monitor
page
|
Market Monitor
• Feb 06, 2023
|
Get a quick overview and dive into market data with our comprehensive, visual review of global economic and asset class performance presented in charts and graphs.
|
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|
carons-corner
audio
|
Caron's Corner
• Feb 06, 2023
|
Jim Caron
Jim Caron, Co-Lead Global Portfolio Manager and Co-Chief Investment Officer, Global Balanced Risk Control Team, shares his macro thematic views on key market drivers.
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page
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Media Appearance
• Feb 03, 2023
|
Morgan Stanley Capital Partners
Inc.'s annual list of founder-friendly private equity firms shines a light on firms that have had success supporting founder-led companies.
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big-picture
page
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The Big Picture
• Feb 02, 2023
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Jitania Kandhari
Jitania Kandhari, Deputy CIO, Solutions & Multi Asset Group; Head of Macro & Thematic Research, Emerging Markets; Portfolio Manager, AIA, outlines her Key Themes for 2023.
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path
page
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PATH
• Feb 02, 2023
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Andrew Harmstone, Jim Caron
The market drivers for the first half of 2023 appear to be reversing course from last year—lower inflation, falling rates, US dollar stabilising or even weakening and China reopening. This positive backdrop opens a window of opportunity, allowing us to take advantage by increasing risk exposure. See how we’re responding in our tactical allocation.
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carons-corner
audio
|
Caron's Corner
• Feb 01, 2023
|
Jim Caron
Jim Caron, Co-Lead Global Portfolio Manager and Co-Chief Investment Officer, Global Balanced Risk Control Team, shares his macro thematic views on key market drivers.
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sustainable-investing
page
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Sustainable Investing
• Jan 31, 2023
|
Barbara Calvi
While the Fixed Income team expects macro headwinds will continue to have an impact in 2023, a rebounding sustainable bond market can continue feeding opportunities for fixed income investors.
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global-multi-asset-viewpoint
page
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Global Multi-Asset Viewpoint
• Jan 31, 2023
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Cyril Moulle-Berteaux, Sergei Parmenov
MSIM's Global Multi-Asset Team discusses their investment perspective in the latest viewpoint: "2023 Global Multi-Asset Team Outlook"
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global-fixed-income-bulletin
page
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Global Fixed Income Bulletin
• Jan 31, 2023
|
Fixed Income Team
The prospect of less hawkish central bank policy should be supportive for short duration assets in 2023, according to the Broad Markets Fixed Income Team. They explore in this new whitepaper.
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carons-corner
audio
|
Caron's Corner
• Jan 30, 2023
|
Jim Caron
Jim Caron, Co-Lead Global Portfolio Manager and Co-Chief Investment Officer, Global Balanced Risk Control Team, shares his macro thematic views on key market drivers.
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audio
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Insight audio
• Jan 27, 2023
| |
