Buy side Archive

Jul 10, 2019
JPMorgan downgrades global growth forecasts, but is positive on equities
Equity markets have had a good first half of the year, boosted by a dovish monetary policy from the world’s central banks, with the S&P 500 hitting another record high, notes JPMorgan’s mid-year market outlook. Following the June 2019 G20 summit, where a US-China trade truce was agreed for the time being, asset prices should be supported for the remainder of the year, notes the review. Low single-digit returns are expected across most asset classes, as the g...
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Jul 09, 2019
The financial case for ESG
What is the financial case for ESG – and what does ESG really mean? These key questions were posed at the recent Bloomberg Sustainable Business Summit in London, and drew differing approaches from the panelists. Valentijn van Nieuwenhuijzen, chief investment officer at Dutch asset manager NN Investment Partners, answered unequivocally: ‘ESG is the fundamental variable, or set of variables, to create the right incentives in capital markets for the corporate world...
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Jul 05, 2019
UK asset managers increase positive outlook, reveals survey
Optimism within the UK asset management sector has risen compared with the previous quarter, according to the latest survey from UK business lobbying group the Confederation of British Industry (CBI) and PwC Financial Services. The survey also finds that organizations within the sector are now turning their focus to grappling with new regulation – particularly Mifid II, cutting costs, reducing overheads and dealing with increased competition. Elizabeth Ston...
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Jul 01, 2019
Integrating ESG at Neuberger Berman
What are Neuberger Berman’s assets under management? As of December 2018, $304 bn. When did you join the firm and what is the scope of your role? I joined two years ago in April 2017. My role is to lead the ESG investing activities across the whole company – our equities business and also our fixed-income and alternatives businesses. We’ve had a dedicated sustainable equity team since 1989, but when I joined it wa...
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Jun 26, 2019
UK funds see May decline in outflows
Last month was something of an unpredictable month for global stock markets, so it should come as no surprise to see UK equity funds suffer outflows from investors in Morningstar’s monthly flow data – but the good news is that it is a relatively smaller withdrawal. Overall, UK funds saw outflows in May, but Morningstar analyst Bhavik Parekh puts the total outflow of £476 mn ($604 mn) from the sector in context by contrasting it with the massively higher £5.8 b...
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Jun 25, 2019
Looking for value in the ESG ecosystem with Nuveen
Nuveen launched a dedicated ESG strategy back in 1990. How did that come about? AOB: Nuveen – and TIAA more broadly – has been involved in investment-related activities leveraging ESG factors since the 1970s, when the first shareholder proposals on social issues began appearing on company ballots in the US. We launched our first ESG-focused funds in 1990, in response to growing client demand for such options. For us, responsible investing ...
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Jun 25, 2019
Bears everywhere in market outlook, reveals BofAML
The latest Bank of America Merrill Lynch (BofAML) fund manager survey for June reveals bearish outlook dominating the financial markets. This negative outlook is evident in a number of trends. First, the allocation to global equities has dropped 32 percentage points to 21 percent underweight – the lowest allocation to equities since March 2009 and second biggest one-month drop on record. Second, the average cash balance has soared to 5.6 percent from 4.6 pe...
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Jun 24, 2019
RBC Global Asset Management: We want ‘consistent, comparable disclosure’ on ESG
As the 2019 proxy season comes to a close, Melanie Adams, vice president and head of corporate governance and responsible investment at RBC Global Asset Management (RBC GAM) – the asset management arm of Royal Bank of Canada – talks about having an increased focus on gender diversity at the board level, why the social side of ESG can be trickier to assess and what the asset manager wants more of when it comes to reporting material risks. What were some ...
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Jun 21, 2019
How CalSTRS makes sustainability work
As a portfolio manager, how do you interact with other teams within CalSTRS on ESG issues? The group I’m in used to be called corporate governance; we recently changed our name to sustainable investment and stewardship strategies. CalSTRS has had ESG considerations in the investment department for decades, [but] around 15 years ago we started to build out our capacity to understand and act on ESG issues. Back then, my CIO Christopher Ailman ...
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Jun 21, 2019
Focusing on data analysis and engagement at AllianceBernstein
Can you outline some of the key aspects of AllianceBernstein’s ESG philosophy? We think about ESG as simply good research. As analysts, we are looking at companies – but you need to look at all factors that are important to a company in a particular industry. As a signatory to the UN [Principles for Responsible Investment], we agree to integrate ESG factors into the investment process. When you think about it, shouldn’t analysts be consi...
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