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Time for bond investors to take the wheel?
Volatility makes bond investing less straightforward, but it can also create opportunities, provided investors are in a position to "take the wheel" in order to capitalise on them.
Fed stays its course while acknowledging brewing winds of change
Our expert examines the underlying data which drove the Fed to stay its rate-cutting course.
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Fixed income
Weekly Market Update
What do you need to know about the markets this week? Tune in to Paul Skinner's weekly market update for the lowdown on where the markets are and what investors should keep their eye on this week.
Time for bond investors to take the wheel?
Volatility makes bond investing less straightforward, but it can also create opportunities, provided investors are in a position to "take the wheel" in order to capitalise on them.
Fed stays its course while acknowledging brewing winds of change
Our expert examines the underlying data which drove the Fed to stay its rate-cutting course.
URL References
Related Insights
Geopolitics
Trump 2.0: US election market impacts
In the wake of the US election, macro strategists Juhi Dhawan and Michael Medeiros join host Thomas Mucha to discuss the market, policy, and geopolitical implications of Trump 2.0.
It’s different this time: Trump faces challenging geopolitical dynamics
Our expert explores how Trump may approach the heightened geopolitical challenges his second administration faces.
Unearthing the unseen in geopolitics
Unearthing the unseen in geopolitics. Watch Geopolitical Strategist Thomas Mucha delve into the investment impact of structural geopolitical shifts and share his latest take on the upcoming US election.
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Spotlight
How to reposition for a new economic era?
In this short video, Macro Strategist John Butler outlines the key features of the new economic era we are now entering.
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Wellington experts
Fixed Income Portfolio Manager
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Impact Measurement & Management Practice Leader
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Stay up to date with the latest market insights and our point of view.
Weekly Market Update
What do you need to know about the markets this week? Tune in to Paul Skinner's weekly market update for the lowdown on where the markets are and what investors should keep their eye on this week.
“Goldilocks” and the three drivers of hedge fund outperformance
Members of our Investment Strategy & Solutions Group explain why shifting economic conditions may bode well for hedge funds broadly but also see reasons that manager selection may be more important than ever.
Time for bond investors to take the wheel?
Volatility makes bond investing less straightforward, but it can also create opportunities, provided investors are in a position to "take the wheel" in order to capitalise on them.
Fed stays its course while acknowledging brewing winds of change
Our expert examines the underlying data which drove the Fed to stay its rate-cutting course.
Chart in Focus: Can this equity bull market last?
Can this current equity bull market last? In this latest edition of Chart in Focus, we focus on the indicators of whether it may come to an end or keep running.
What do declining European earnings mean for ECB policy?
European companies have been unexpectedly resilient over the last couple of years. However, the outlook for European earnings could be more challenging than headline numbers suggest. What could this mean for investors?
Bonds in Brief: Making Sense of the Macro — October issue
What's driving global bond markets and what are the investment implications? Read the October issue of "Bonds in Brief" for Wellington Investment Director Marco Giordano's monthly assessment of risks and opportunities within fixed income.
Trump 2.0: US election market impacts
In the wake of the US election, macro strategists Juhi Dhawan and Michael Medeiros join host Thomas Mucha to discuss the market, policy, and geopolitical implications of Trump 2.0.
It’s different this time: Trump faces challenging geopolitical dynamics
Our expert explores how Trump may approach the heightened geopolitical challenges his second administration faces.
Are bond investors ready for a US industrial revolution?
Portfolio Manager Connor Fitzgerald discusses why bond investors should ready themselves for a potential US industrial revolution and shares his perspective on how to reposition portfolios for such a scenario.
What do the US election results mean for investors?
The US election results could have significant implications for the global economy and capital markets. Our panel of experts provides a thorough analysis of what happened and explores potential market impacts.
Trump win likely to accelerate macro trends already in motion
The US election results could have significant implications for the global economy and markets. To help you understand these changes, US Macro Strategist Mike Medeiros provides a thorough analysis and discusses the potential market impacts.
Monthly Asset Allocation Outlook
Wondering how to reposition your portfolio amid election-related uncertainty? Explore the latest monthly snapshot of our Multi-Asset Team’s asset class views.
AI is hungry: What’s on the menu?
Our technology venture capital experts explore AI’s potential for disruption, highlight potential winners and losers, and dive deep into the innovation’s impact on the software industry.
Measuring impact in venture capital
We highlight why venture capital matters to impact investors and how to authentically measure and manage impact in this asset class.
Pre-election ideas for investors: Lean into what you know (not what you don’t)
Our expert offers investable ideas based on known macro and market conditions, rather than speculation.
The power of local perspective: the long and short of European equity investing
Dirk Enderlein and Boris Kergall explain why, in their view, the structural changes impacting European equity markets offer active long/short investors a rich source of potential return and diversification.
Impact measurement and management: addressing key challenges
Our IMM practice leader describes common impact investing challenges and suggests ways to overcome them.
Quality growth — a less volatile sweet spot?
Growth stocks can be volatile, especially when companies fail to meet expectations. However, high-quality growth companies can help mitigate downside risk while still offering potential for long-term outperformance. How can investors find the sweet spot?
Unlocking the full value potential of stewardship
Yolanda Courtines and Alex Davis examine how corporate stewardship can be a source of value and delve into what investors can do practically to maximise its full potential.LDI Team Chair Amy Trainor explains why she believes a pension risk transfer may, in many cases, not be the best choice for fully funded plans from a cost/benefit standpoint.
Quarterly Market Review
A monthly update on equity, fixed income, currency, and commodity markets.
Decoding impact expectations: best practices for impact investors and companies
We share three recommendations each for impact investors and companies to help them better understand and manage each other's expectations.
Monthly Market Review — September 2024
A monthly update on equity, fixed income, currency, and commodity markets.
Strong fundamentals, attractive valuations: Why the time may be right for active biotech investing
From solid fundamentals to supportive macro conditions, learn why our biotech experts believe the industry may be ready to run.
Navigating AI resource demands: Strategies for sustainable data center operations
AI's growing computational demands are raising critical questions about energy efficiency and water-resource management. We delve into strategies for enhancing sustainable data center operations, highlighting the importance of proactive resource stewardship.
Impact measurement and management practices
What constitutes an impact investment? How is impact measured? And, what are the benefits of impact investing? Our Impact Management and Measurement Practice Leader Oyin Oduya discusses our approach.
What is “the economic cycle,” anyway?
See why the relationship between asset prices and the economic cycle is more complex than you might think, why a US recession is unlikely, and what a more dovish Fed could mean for the US and global markets.
Take it “ease”-y
Tim Antonelli, Head of Multi-Asset Strategy – Insurance and Portfolio Manager, explains why he thinks insurers should consider locking in current yields and sticking with global equity exposure.
Japan’s factory automation sector: Poised for a significant upturn?
Global Industry Analyst Takuma Kamimura explains why he believes we’re on the verge of a multiyear cyclical upturn in the factory automation sector and why he sees a compelling outlook for select Japanese companies in particular.
Bonds in Brief: Making Sense of the Macro — September issue
What's driving global bond markets and what are the investment implications? Read September's issue of "Bonds in Brief" for Wellington Investment Director Marco Giordano's monthly assessment of risks and opportunities within bond markets.
What's current in credit?
In this short video series, Fixed Income Portfolio Manager Connor Fitzgerald takes a look at what's current in credit. Given rather tight credit spread valuations, what is Connor's outlook for the next twelve months and where are the opportunities and risks now?
US election special: which investment themes win at the polls?
The upcoming US election could be one of the most momentous in recent history. How could the result affect different investment themes? Our thematic team investigate the potential implications for investors.
Unearthing the unseen in geopolitics
Unearthing the unseen in geopolitics. Watch Geopolitical Strategist Thomas Mucha delve into the investment impact of structural geopolitical shifts and share his latest take on the upcoming US election.
Securitized credit: Normalizing, decelerating, or falling off a cliff?
Our experts offer their views on the current conditions and outlook for the securitized credit market.
Can central bank independence survive?
Can central bank independence survive? Macro Strategist John Butler discusses the challenges faced by central banks in an increasingly fraught political environment and how investors should adjust.
Sahm rules are meant to be broken
Fed easing is finally here and fundamentals remain favorable. But what about that election? Members of our Investment Strategy & Solutions Group offer their outlook, including their latest views on equities, bonds, and commodities.
What’s next after Iran’s missile attack on Israel?
Geopolitical Strategist Thomas Mucha shares his analysis of the latest escalation in the Middle East conflict, including his thoughts on a wider regional war and the market implications.
Assessing the impact of climate resilience
Oyin Oduya and Louisa Boltz discuss the case for impact solutions focused on climate adaptation and share high-level guidelines to help overcome the associated measurement challenge.
Designing an executive compensation program: Five best practices for private companies
Our Value Creation Team highlights best practices for creating effective executive compensation programs for private companies approaching IPO.
Chart in Focus: What does the rate cut mean for equities and bonds?
Are rate cuts positive? On the heels of the much-anticipated initial Fed cut, in this article we look to historic precedent for where the markets could go in the coming months.
An active investor’s guide to growth equities
Our experts offer their view on the current economic environment, explore best practices for investing in high-quality growth equities, and highlight where they see opportunity now.
Chart in Focus: The need to differentiate market growth from macro growth
Macro growth and earnings growth have been misaligned for the last 15 years, particularly in the US and China, but in opposite directions. For equity investors, what would be the key to identify real growth?
Rate relief: Fed cuts half point, but says “economy is strong”
Our expert explains the Fed's bold rate cut and some key takeaways for investors.
Monthly Market Review — August 2024
A monthly update on equity, fixed income, currency, and commodity markets.
Private equity deep dive
We explore four key private equity questions to help investors better understand how these strategies compare and complement each other in a portfolio. In particular, we highlight the distinct opportunity sets, risk-return characteristics, and portfolio roles of venture capital and buyout strategies.
The real issue on rate cuts? Keep your eyes on the dot (plot)
Keep your eyes on the Fed's 2025 dot plot. The real story is where policy rates are headed, not just the next rate cut.
When public and private markets converge
Wellington President Steve Klar discusses the evolution of the public and private markets and what it means for asset owners as they seek to tap into the growth potential of private companies and be more nimble in their investment approach.
The US elections through the eyes of a European investor
Supriya Menon, Head of Multi-Asset Strategy – EMEA, explores what potentially material implications upcoming US elections could have for European investors and identifies key areas to monitor closely.
Bonds in Brief: Making Sense of the Macro — August issue
What's driving global bond markets and what are the investment implications? Read the August issue of "Bonds in brief" for Wellington Investment Director Marco Giordano's monthly assessment of risks and opportunities within bond markets.
What the yen carry trade unwind could mean for markets and the Fed
Brij Khurana explains why market participants are likely underestimating how foreign ownership of US assets could constrain the pace and magnitude of the Fed’s cutting cycle.
Four investment perspectives amid a pivotal US election
How can investors reposition portfolios for a pivotal but highly unpredictable US elections? Nick Samouilhan explores potential avenues in conversation with three leading portfolio managers.
The investment implications of Europe’s ageing workforce
What are the investment implications of Europe’s ageing workforce? Macro Strategist Nicolas Wylenzek explores the drivers of this accelerating demographic shift, Europe’s likely response and the opportunities it creates for investors.
A new economic era: three reasons to revisit bonds?
Investment Director Marco Giordano explains why he believes the new economic era is creating a wide range of opportunities for research-driven bond strategies to offer investors stable income combined with downside protection and diversification.
Destination diversification – is your bond portfolio ready to take flight?
In a new economic era, bonds once again provide the potential for downside protection, but diversification within fixed income is increasingly important. Impact bonds can offer a differentiated and diversified way to drive both positive change and returns.
Opportunities in high yield: ready, steady, pounce?
Fixed income investors face a fundamentally different environment, but opportunities to target growth in high yield are emerging, provided investors can stay on the front foot.
Time to capitalise on the evolving role of bonds?
We outline why we think the new economic era is elevating the role of bonds as a source of attractive and stable income, downside protection and portfolio diversification.
Diving into the new world of credit
Now that spreads have tightened, some investors think it's too late to invest in credit. But this assumption could be standing in the way of earning an attractive income.
Capital securities: Why these hybrid investments may offer a compelling risk/reward profile
Members of our Fixed Income team explain why capital securities, a hybrid asset class that shares characteristics of bonds and stocks, may offer attractive diversification, income, and return potential.
Commodities and the energy transition: Symbiosis for the future
The global energy transition is driving demand for commodities. Our experts explain which ones will be needed most.
CLO equity insights: Private credit
Explore how the convergence of public and private markets is impacting CLO equity, including the unexpected benefit it has driven in recent years.
Japan’s tech sector: Time for a reboot?
Japan's semiconductor industry has revived global interest in Japan's tech ecosystem. But we believe the dynamism of Japan's tech sector today doesn't start and end with electronics and semiconductors.
Private placements: A primer for corporate DB plans preparing to derisk
With many corporate DB plans exploring derisking opportunities, Portfolio Manager Elisabeth Perenick and Multi-Asset Strategist Amy Trainor discuss the potential role that private investment-grade credit, or private placements, could play and consider common questions about liquidity and allocation sizing.
Human capital management for private companies
We discuss why effective people management is critical for private companies and outline four strategic focus areas that can help companies navigate evolving employee needs, regulatory changes, and investor expectations.
Biotech IPOs in 2025: Quantity, quality, and best practices
We explore today's biotech IPO market, highlighting recent market trends, key characteristics for successful biotech IPOs, and best practices to sustain momentum as a public biotechnology company.
Monthly Market Review — July 2024
A monthly update on equity, fixed income, currency, and commodity markets.
Asia’s evolving venture capital market
What's next for Asian venture capital? After a decade of growth, we explore key questions and best practices for VC investors and private companies in the region.
The power of local perspective: where next for European banks?
Global Industry Analyst Thibault Nardin explores how monetary policy divergence, technological disruption and sector consolidation are reshaping European banks, while creating potentially compelling opportunities for active investors.
Harris vs Trump: The foreign policy and investment implications
Our expert examines expected Harris and Trump foreign policies and their potential impact on the investment landscape.
Bonds in Brief: Making Sense of the Macro — July issue
What's driving global bond markets and what are the investment implications? Read July's issue of Bonds in Brief for Wellington Investment Director Marco Giordano's monthly assessment of risks and opportunities within bond markets.
Walking a mile in Fed Chair Powell’s shoes
A slow roll on rate cuts by the Fed could frustrate markets and lead to more volatility ahead of the September FOMC meeting. See our take on what to expect for the next few weeks.
Massive market sell-off: Justified or an overreaction?
What's behind the global market meltdown, and what should investors consider doing? Global Investment and Multi-Asset Strategist Nanette Abuhoff Jacobson shares her views.
Still waiting…Fed wants more data before cutting policy rates
Our expert dives into Fed policy following the July FMOC meeting.
Office to multifamily conversions: Implications for CMBS investors
Our experts explore the emerging trend in some US cities of converting office space into multi-family units and its implications for bond investors.
Global macro strategies: Multi-dimensional tools for an era of economic change
With the global economic environment creating potential opportunities for macro investors, we consider the heterogeneity of the global macro strategy universe, the case for combining different styles, and the choice between a single- and a multi-portfolio manager approach.
AI governance for private companies
Explore the critical need for AI governance for private companies, addressing evolving risks, regulations, and best practices for responsible gen AI usage.
Does the US election even matter? Thoughts on politics, Fed policy, and portfolios
What's next for interest rates and what impact will the US election have? Head of Multi-Asset Strategy Adam Berger and Macro Strategist Mike Medeiros share their outlook and discuss the asset allocation implications.
Chart in Focus: Four key areas of opportunities in bonds amid Fed uncertainty
We discuss four key areas of opportunities in fixed income amid Fed uncertainty in the second half of the year.
The AI effect: Time to rethink your technology exposure?
Will AI fulfill the market's high expectations? Will it continue to drive market concentration? Head of Multi-Asset Strategy Adam Berger and Global Industry Analyst Brian Barbetta, co-head of our Technology team, discuss the outlook and the asset allocation implications.
Are US election probabilities now a critical driver of bond yields?
Our expert argues that the US election remains a critical catalyst for the bond market given the contrast between both parties as it relates to supply side policies such as trade and immigration, and to policy differences around taxation and regulation.
Understanding private equity performance
We dive deep on best practices for measuring and benchmarking private equity performance. In addition, we outline the J-curve and the impact of fund lifecycle on returns.
Financial Market Review
A monthly update on equity, fixed income, currency, and commodity markets.
European elections: all change for equity investors?
Macro Strategist Nicolas Wylenzek discusses how the elections for the European Parliament could herald significant change, with major implications for European equity investors.
Monthly Market Snapshot — June 2024
A monthly update on equity, fixed income, currency, and commodity markets.
Come on in, the water’s fine! Ready for a surplus summer
Tim Antonelli, Head of Multi-Asset Strategy – Insurance and Portfolio Manager, explains why he continues to see reserve fixed income as the sweet spot for insurers and why there may be upside for equities.
Chart in Focus: Broadening earnings growth signals healthy US equity market
Over the past year, the markets have seen the companies best poised to harness and benefit from new innovations within artificial intelligence rewarded accordingly. Can this signal more upside for the entire US equity market?
Breaking concentration: big picture thinking with small-cap equities
How to overcome the risks associated with today's concentrated market? Investment Director John Mullins explores why small-cap equities could be part of the answer.
Thematic investing focus: how exactly will AI transform the world?
We are on the brink of a technological revolution that has major implications for all sectors, companies, labour, and regulators. How can a thematic lens help investors separate hype from reality?
Surprise French election result: what does it mean for investors?
Macro Strategist Nick Wylenzek and Investment Director Thomas Kramer discuss the surprise French election and its implications for European equities.
Bonds in Brief: Making Sense of the Macro — June issue
What's driving global bond markets and what are the investment implications? Read June's issue of Bonds in Brief for Wellington Investment Director Marco Giordano's monthly assessment of risks and opportunities within bond markets.
Ok, Boomer: How US generational wealth distribution could upend the economy and markets
Fixed Income Portfolio Manager Brij Khurana discusses the implications of US Baby Boomers' wealth concentration in the event of a market decline.
Disappearing unicorns: The importance of capital efficiency in a higher-for-longer rate environment
Members of our late-state growth equity team share their views on the impact of interest rates on venture capital activity — including the ability of companies to reach “unicorns” status.
Time for credit selection to shine
Fixed income investors continue to seek answers to an era of volatile rates. Large, static exposures to credit markets no longer cut it. Instead, a nimble and dynamic approach is more likely to create resilient and consistent total return outcomes.
Ideas for navigating a new era
Explore our latest views on risks and opportunities across the global capital markets.
Multi-Asset Investment Outlook
To help think through the asset allocation outlook and implications for this year, we offer views from iStrat, our investment strategy and solutions group.
All-time highs and CPIs: What comes next?
Global fundamentals have kept markets content so far this year, but will politics sour the mood? Members of our Investment Strategy & Solutions Group offer their views on the second half of 2024, including on equities, bonds, and commodities.
Beyond the noise: Four key drivers of private credit opportunities
With recent negative headlines around private credit, we think it's crucial to move beyond the noise and explore the asset class's enduring trends like disintermediation, the convergence of public and private markets, and much more.
Looking beyond yield: rethinking your fixed income approach
In today's new market regime, any small changes in central bank policies could have outsized impacts on fixed income markets. Portfolio manager Connor Fitzgerald highlights how a dynamic, total return approach can navigate markets by focusing on optimising price return and capital preservation across market cycles.
Divergence isn’t just about central bank policy
Divergence has implications for investors —and central bank divergence is only one of five ways to think about it.
Capitalizing on rate shifts: Parsing opportunities in the second half
Fixed Income Portfolio Manager Campe Goodman and Fixed Income Strategist Amar Reganti discuss how to capitalize on potential rate shifts in the second half of the year
Equity Market Outlook
In our Equity Market Outlook, we offer a range of fundamental, factor, and sector insights.
Beyond US large cap: Where now for equity investors?
How should investors navigate a narrow market? Looking ahead to the rest of the year, Macro Strategist Nicolas Wylenzek examines the structural backdrop and Equity Strategist Andrew Heiskell shares his view on equity opportunities to watch.
Cybersecurity for private companies
We highlight today's rising cybersecurity risks, explore how they impact private companies, discuss key regulatory considerations, and share best practices for companies facing these threats.
Insurance Quick Takes: One regulator's view of geopolitics’ impact on the industry
In our latest Insurance Quick Takes video, Tim Antonelli, Head of Insurance Multi-Asset Strategy and Portfolio Manager, discusses why a recent stress test from a regulator could have implications for insurers across the globe.
Investing in “3D”: Forces shaping alternatives opportunities in 2024
Multi-Asset Strategists Adam Berger and Nick Samouilhan offer six ideas from the hedge fund and liquid alternatives investment space, from global macro to multi-strategy approaches.
8 emerging venture capital trends
We share eight of the themes driving venture capital markets in 2024, including capital efficiency, DPI, the IPO market recovery, and much more.
Private Investment Outlook
In our private market outlook collection, we explore the themes driving the rapid evolution of private credit and private equity markets.
Reframing fixed income portfolios: why bond maths makes the difference
It is easy to understand why fixed income investors tend to focus on yields. But investors who focus too much on yield may run the risk of overpaying for income and underestimating the impact of price volatility.
Alternative Investment Outlook
This collection provides timely ideas across the spectrum of alternative investments -- including hedge funds, private equity, and private credit.
When the Fed sneezes, the ECB… cuts rates regardless?
Since the late 1990s, when the US cycle turned, the rest of the world generally followed, with a lag. However, the new economic era is likely to result in greater cyclical divergence between countries and the need for different central bank responses. How should investors think about the age of economic divergence?
Factors to consider when allocating to US small-cap stocks
From avoiding "junk" to holding on to "graduates," members of our Fundamental Factor Team share their research insights on the pursuit of alpha in the small-cap space.
Currency interventions — here to stay?
Marco Giordano and Danielle Wei discuss the growing risk of large-scale currency interventions and what investors can do to prepare for the associated risks and opportunities.
Bonds in Brief: making sense of the macro — May issue
What's driving global bond markets and what are the investment implications? Read the May issue of Bonds in Brief for Wellington Investment Director Marco Giordano's monthly assessment of risks and opportunities within bond markets.
June FOMC meeting: May disinflation is welcome, but is not enough for a rate cut
Fixed Income Analyst Caroline Casavant discusses what June's FOMC meeting tells us about the US Federal Reserve’s latest thinking on interest-rate cuts.
Beyond the hype: finding AI’s long-term winners
Our expert argues that a long-term mindset based on deep research can help to uncover evolving AI investment opportunities amid the hype.
Has the European credit cycle been extended?
2024 has kept fixed income investors busy. Yet, despite lingering inflation and rate volatility, European credit markets have remained strong. Are we looking at an extended credit cycle? And if so, what does this mean for investors?
Thriving or surviving? The state of the US consumer and the economic implications
Macro Strategist Juhi Dhawan examines the condition of the all-important consumer, including the outlook for spending, the effects of inflation and prevailing interest rates, and the consequences for the overall economy.
Global Economic Outlook
Our macro strategists continue to expect that the interlinkages between countries, central bank policies, and market pricing will change, creating potentially attractive opportunities for active portfolio management and security selection.
Battle for the supply side of the economy: US election implications
Starkly different policy agendas from Biden and Trump are examined in terms of how they may affect the supply side of the US economy.
The revenge of the monetarists
Fixed Income Portfolio Manager Brij Khurana makes the case for a monetarist explanation for moderating inflation.
Governments have been slow to reduce their fiscal deficits — it could cost them
Our expert explores the investment implications of continued excessive deficit spending by G7 countries.
Behind the research with Saul Rubin
Veteran investor Saul Rubin shares a recent example of collaborative active management that reflects Wellington's deep understanding of the global automotive industry and commitment to increasing client value.
Corporate bonds: giving credit where credit is due
ActiveViews host Will Lockhart and Derek Hynes, portfolio manager on Wellington’s Global Credit Team, discuss the current credit cycle, market dynamics and the future of corporate credit markets.
Built to last? Identifying durable health care start-ups
Two members of our late-stage growth team share insights and results from their recent analysis of enterprise-value trajectories for private, non-biotech health care companies.
Monthly Market Snapshot — April 2024
A monthly update on equity, fixed income, currency, and commodity markets.
As India goes to the polls, is the case for Indian equities still compelling?
While current Prime Minister Narendra Modi is expected to secure a third term, a full-scale win is not a foregone conclusion. Against this backdrop and continued investor enthusiasm for Indian equities, Equity Portfolio Manager Niraj Bhagwat and Investment Director Philip Brooks assess the macro case for India. Are higher valuations justified?
Looking beyond yield: Rethinking the approach of fixed income investing
Investors face a new regime, challenging traditional assumptions about returns and volatility. With central bank interventions impacting credit markets, it’s time to rethink income allocations. Rather than fixating solely on yield, consider a dynamic approach, presented by Connor Fitzgerald.
Value stocks: Rules of thumb are meant to be broken
What will it take for value stocks to bounce back from a long period of underperformance? Members of our iStrat Team say that, conventional wisdom aside, it's not all about the economic cycle and offer their outlook for the next three to five years.
Structuring core fixed income: A constructive view on market and macro conditions
Head of Multi-Asset Strategy Adam Berger and Fixed Income Portfolio Manager Connor Fitzgerald discuss the interest-rate environment and the fundamental picture in investment-grade credit and high yield.
With the Fed on hold, is the case for bonds kaput?
Amid worries about sticky inflation, the market has scaled back its expectations for interest rate cuts this year. But even if rate cuts are on hold a while longer, members of our Multi-Asset Team still think investors should consider a move from cash to bonds.
New era demands a nimble approach to credit
Our expert explains why deep research and an active approach are effective ways for fixed income investors to uncover credit opportunities in today's market.
What could change the trajectory of value stocks?
Head of Multi-Asset Strategy Adam Berger and Equity Portfolio Manager Nataliya Kofman discuss “resilient” value stocks, disruptive themes, and attractive sector- and country-level opportunities.
Small-cap stocks: Watching for mean reversion, technology diffusion, and the next inflection point
Our experts discuss factors that could help small-cap stocks rebound and the search for winners in this inefficient segment of the market.
Bonds in brief: making sense of the macro — April issue
What's driving global bond markets and what are the investment implications? Read the April issue of "Bonds in brief" for Wellington Investment Director Marco Giordano's monthly assessment of risks and opportunities within bond markets.
Exploring active opportunities amid continued regime change
Head of Multi-Asset Strategy, APAC, Nick Samouilhan outlines why today's environment of dispersion, divergence and disruption offers potentially compelling opportunities for active investors.
Powell back to waiting on inflation data
Our expert's key takeaways from the May FOMC meeting.
Impact investing in emerging markets: Growing opportunities, shifting challenges
Members of our impact bond team discuss their evolving emerging markets opportunity set and the importance of a bottom-up approach to value creation.
Can hedge funds play the role?
How should investors select the most suitable types of hedge funds for specific roles? Members of our Investment Strategy & Solutions Group offer a simple and intuitive framework that can help.
Why an impact lens is an important tool in the fixed income investor's arsenal
Campe Goodman, Will Prentis and Oyin Oduya discuss how an impact lens can be an important tool in the fixed income investor's arsenal.
The Fed’s lessons learned from its COVID response
Fixed Income Portfolio Manager Brij Khurana breaks down the central bank's policy decisions during the pandemic and explains how they continue to affect financial markets.
Three ways social considerations can enhance portfolios
Four leading Wellington equity and fixed income experts explore three ways social considerations can enhance portfolios.
4 equity themes: Budding opportunities in small caps and more
Our expert highlights 4 areas where he sees opportunity in global equity markets.
Picking the right building blocks for a climate-aware portfolio
For asset owners integrating climate change into their multi-asset portfolios, members of our Investment Strategy & Solutions Group offer five important insights.
Japan equity: Reason to believe
Our expert argues that corporate governance reform and the Japanese economy's escape from persistent deflation have laid the groundwork for a sustainable equity rally.
Financial Market Review
A quarterly update on equity, fixed income, currency, and commodity markets.
Monthly Market Snapshot — March 2024
A monthly update on equity, fixed income, currency, and commodity markets.
Iran/Israel conflict: What can we expect?
Our expert examines the recent attacks, the threat of escalation, and the dynamics at play in the region.
Thematic investing focus: evolving the current generation of energy
The energy transition is taking place amid a greater focus on energy security and affordability. What could this mean for the role of traditional energy companies, ask Keith White Daouii Abouchere and Megan Galligan.
Thematic investing focus: advancing the next generation of energy
The decarbonisation process represents the biggest capital cycle in our lifetime. As we develop the next generation of energy, Keith White, Daouii Abouchere and Megan Galligan examine how thematic investors can make the most of this structural opportunity.
Biden 2.0: National security and investment themes
The geopolitical and investment implications of a potential second Biden term.
A turning point for US small caps
Myth busting US small caps: why now could be a compelling entry point for the asset class.
Risky business: Is now the time for surplus action?
Tim Antonelli, Head of Multi-Asset Strategy – Insurance and Portfolio Manager, considers insurers' renewed interest in risk assets and offers his views on areas that may be worth a closer look.
The immigration surge: Political challenge, economic blessing?
Macro Strategist Juhi Dhawan considers the impact of rising immigration, a top issue in this year's US elections, on growth, interest rates, and the labor market.
Trump 2.0: National security and investment themes
Our expert examines the geopolitical and investment implications of a potential second Trump presidency.
Bonds in brief: making sense of the macro — March issue
What's driving global bond markets and what are the investment implications? Read the latest "Bonds in brief" for Wellington Investment Director Marco Giordano's monthly assessment of risks and opportunities within bond markets.
Four questions for investors after Japan’s historic hike
With the Bank of Japan having finally moved out of negative rates, Macro Strategist John Butler identifies the four key questions he believes investors should focus on.
Do fundamentals support a risk-on tilt?
Surprisingly strong economic growth, declining inflation, easy financial conditions — can it get any better for markets? Members of our Investment Strategy & Solutions Group offer their outlook, including their latest views on equities, bonds, and commodities.
A blueprint for building climate-aware multi-asset portfolios
Members of our Investment Strategy & Solutions Group take a deep dive on the issues asset owners should consider when choosing climate-aware portfolio building blocks, from the evolving opportunity set to the active/passive decision.
Monthly Market Snapshot — February 2024
A monthly update on equity, fixed income, currency, and commodity markets.
Monthly Market Snapshot — May 2024
A monthly update on equity, fixed income, currency, and commodity markets.
Key factors to monitor in European equities
Macro Strategist Nicolas Wylenzek assesses the longer-term prospects of European equity markets through the prism of five key factors.
Is there opportunity for high yield in today’s new economic era?
Is there opportunity for high yield in today’s new economic era? Portfolio Manager Konstantin Leidman explores.
No bulls in the China shop?
John Mullins, Irmak Surenkok and Steven Ye assess the investment debate surrounding China's prolonged underperformance and outline three investment ideas for active investors to consider.
The Trump/Biden rematch: Market implications of unprecedented policy divergence
Macro Strategist Juhi Dhawan discusses six key areas of policy debate in this year's US election that she expects will matter most to markets, from the tax and spending plans to trade and geopolitics.
It's all about Nvidia! But is it really?
From an equity market perspective, it seems February was all about Nvidia’s earnings and AI. Read Wellington Macro Strategist Nicolas Wylenzek's perspectives.
Is the US economy really that different since COVID?
US economists have been touting the resilience of the post-COVID economic rebound. Brij Khurana dissects several key economic indicators to see what's really changed since 2019.
How to nurture a growth mindset in a higher-yielding landscape
In a higher-yield world, can fixed income deliver meaningful growth? John Mullins, Supriya Menon and Alex King explore how high-yield bonds may offer a powerful opportunity for growth - as well as a cushion against uncertainty.
Income: the hard worker in your portfolio deserves more credit
Income from cash is good but income from bonds is better. In a less certain macro environment, Alex King, Supriya Menon and John Mullins think the case for income only gets stronger. How can investors make the most of opportunities?
Adopt a new vantage point for diversifying your portfolio
Supriya Menon, Alex King and John Mullins explore why a diversified mixed of fixed income exposure is a key component of a nuanced approach to diversification in today's cyclical macro regime.
Bonds in brief: making sense of the macro - February issue
What's driving global bond markets and what are the investment implications? Read February's "Bonds in brief" for Wellington Investment Director Marco Giordano's monthly assessment.
How to translate a critical concept into return potential
How to translate the critical concept of stewardship into rewarding returns? Portfolio Managers Mark Mandel, Yolanda Courtines and Sam Cox share their firsthand experience.
How to reposition for a new economic era?
In this short video, Macro Strategist John Butler outlines the key features of the new economic era we are now entering.
Evaluating labelled bonds: a robust framework is key
Fixed Income Portfolio Manager Campe Goodman and Investment Specialist Will Prentis explain why they believe a robust framework for analysing labelled, or sustainable, debt can help to generate real-world impact.
Back to the future: a new economic era
Macro Strategist John Butler explores why he believes the old macroeconomic model is broken and how best to navigate a new era of investing.
5 reasons to be active in fixed income
Actively managed fixed income portfolios have several distinct advantages over passive approaches.
Quality value: getting (more than) what you pay for?
Quality and resilience often go hand in hand, but resilience measures future quality. How can resilient companies offer value to long-term investors? And how can investors identify them?
Why high-yield investors should keep a close eye on the default cycle
A peak in defaults may not be far off. What does this mean for investors considering a move to high yield?
Facing the inflation dilemma head on
Inflation has already fallen much quicker than most expected. However, there are convincing reasons why inflation might be higher and more volatile going forward. What are the implications for asset allocation?
Managing currency exposure in multi-asset portfolios: how to weigh the trade-offs and impact
Nick Samouilhan, Head of Multi-Asset Strategy – APAC, evaluates the trade-offs of different currency hedging approaches and offers a novel framework for gauging their potential portfolio impact.
Long-term investing in an age of short-termism
ActiveViews host Will Lockhart and Yolanda Courtines, co-manager of the Wellington Global Stewards and European Stewards Funds, explore how being genuinely long term in an increasingly short-term world may provide a differentiated investment edge.
Monthly Market Snapshot — January 2024
A monthly update on equity, fixed income, currency, and commodity markets.
Too much focus on Fed, not enough on fiscal
Current US fiscal and monetary policy stances argue for risk taking in fixed income.
WellSaid: Partnering with climate founders
Wellington head of private climate Greg Wasserman discusses his team's approach to helping private companies progress along their growth journey
Bonds in brief: making sense of the macro - January issue
What's driving global bond markets and what are the investment implications? Read January's "Bonds in brief" for Wellington Investment Director Marco Giordano's monthly assessment.
Thematic investing focus: security in a world of great-power competition
In an environment of accelerating great-power competition and geopolitical instability, policymakers may place a higher emphasis on security – even at the expense of economic efficiency. What could this mean for thematic investors?
Three things I’m excited about in 2024
2023 was an eventful year for markets, with plenty of excitement, challenges and opportunities for fixed income investors. We believe our Global Impact Bond portfolio managers navigated them successfully.
Trends and transformation distilled: Our 2024 outlook in brief
Our experts explore investment opportunities and risks for the year ahead.
Venture capital outlook: Signals point to a brighter 2024
Our private investing team sees positive signals indicating that the recent downturn in venture capital may have hit bottom. Just as privates trailed the public market correction in 2022, we believe they will follow its recovery.
Top of Mind: The allocator’s checklist for 2024 and beyond
Head of Multi-Asset Strategy Adam Berger offers near- and longer-term ideas for allocators, including thoughts on areas where capital is scarce, alternatives may be attractive, and risks may bear watching.
No more free lunch: Impact of higher interest rates on private equity strategies
We explain what the direct and indirect rate exposure of buyouts, venture capital, growth equity, secondaries, and fund-of-funds mean for investors.
Private market perspectives
Hear from private market experts across our early-stage venture, climate growth, late-stage biomedical, late-stage growth, private credit, and ESG teams.
Financial Market Review
A quarterly update on equity, fixed income, currency, and commodity markets.
Monthly Market Snapshot – December 2023
A monthly update on equity, fixed income, currency, and commodity markets.
Annual message from our CEO: At a crossroads
CEO Jean Hynes offers perspectives on the current macro and market environment, including the need to challenge long-held assumptions, prepare for persistent disruption, and consider the resulting investment opportunities and risks.
Bonds in brief: making sense of the macro - December issue
What's driving global bond markets and what are the investment implications? Read "Bonds in brief" for Wellington Investment Director Marco Giordano's monthly assessment.
Multi-Asset Market Outlook
To help think through the asset allocation outlook and implications for 2023, we offer views from iStrat, our investment strategy and solutions group
Navigating a volatile reality: three ideas for 2024 and beyond
2023 saw investors grapple with a new, more volatile reality. How should portfolios be positioned for opportunities and challenges in 2024?
Why structural change in Germany may impact investors globally
Macro Strategists John Butler and Eoin O’Callaghan discuss why they believe the structural changes currently underway in Germany will impact investors globally.
Fork in the road: Slowdown or reacceleration ahead?
Markets seem to expect a much smoother ride in 2024, but are they too optimistic? Members of our Investment Strategy & Solutions Group offer their macro and market outlook, including their latest views on equities, bonds, and commodities.
Private biotech: Immunology and inflammation’s third wave
Our experts discuss how I&I is building on industry progress to offer new treatment solutions and interesting opportunities for private biotech investors.
Why income-seeking investors need to look across asset classes
Income plays an even more crucial role in portfolios than many of us realise, contributing a significant portion of returns for multi-asset portfolios. But with cash rates at around 5%, the world of income has changed. This should prompt investors to take a fresh look across asset classes to see where opportunities lie.
Monthly Market Snapshot – November 2023
A monthly update on equity, fixed income, currency, and commodity markets.
Five key ESG topics for private companies in 2024
See where our ESG for Private Investments team is focusing to minimize investment risk and maximize company value in 2024 and beyond.
What route is right in emerging markets investing?
How can investors find the most compelling opportunities within emerging market equities? Simon Henry and Dáire Dunne explain why they think targeting the economic development opportunity may provide a roadmap for success.
Credit: Better opportunities to add risk on the horizon
Our experts review current macro dynamics impacting the bond market and discuss where they see opportunities and risks across credit sectors.
Bonds in brief: making sense of the macro - November issue
What's driving global bond markets and what are the investment implications? Read "Bonds in brief" for Wellington Investment Director Marco Giordano's monthly assessment.
Will a “Goldilocks” economy be just right for equity markets?
We provide an outlook on the ongoing shift to new investment regime, and the market segments that we expect will most heavily influence global equity performance in the coming year.
Rates: Tracking the trade-off between inflation and growth
In their 2024 rates outlook, Investment Directors Amar Reganti and Marco Giordano investigate the treacherous trade-off faced by central banks and what it means for bond investors.
Learning to love (or live with) a late-cycle environment
Are we actually in a late-cycle environment and, if so, how should allocators respond? Head of Multi-Asset Strategy Adam Berger offers guidance, including on portfolio positioning, big cycle bets, and security selection.
Rebalancing a multi-asset portfolio: A guide to the choices and trade-offs
Many investors wrestle with portfolio rebalancing decisions, particularly in volatile environments. In this paper, members of our Investment Strategy Team argue for a well-structured rebalancing policy and share research on different approaches and common implementation considerations.
Look past the cycle: The surprising total return potential of natural resources and commodities
Portfolio manager Nick Petrucelli explains the cyclical, structural, and macro tailwinds behind this opportunity.
2024 Insurance Outlook: Position portfolios for the unexpected
Tim Antonelli offers two critical ideas for insurers' 2024 investment planning: doubling down on diversification and rethinking risk, including geopolitical and default risk.
Private credit: Key market themes for the year ahead
In our annual private credit outlook, learn about three themes that have dominated headlines recently and may create opportunities for parts of the private credit market going forward.
Embracing uncertainty: Three alternatives ideas for a macro-driven world
Even as investors wrestle with the economic unknowns heading into 2024, Multi-Asset Strategists Nick Samouilhan and Adam Berger see opportunities to put alternative investments to work.
Sustainable Investment Outlook
Our head of Sustainable Investment shares key areas of focus for 2023, including climate change and biodiversity, modern slavery, data privacy, shareholder rights, and impact investing,
Beyond China: what does the rest of the EM equity world have to offer?
For investors contemplating a separate allocation to EM ex-China equities, members of our iStrat Team share their research on the composition of the opportunity set, the growing divergence in the behavior of EM ex-China equities and Chinese equities, and the long-term market outlook.
Commodities: Top ideas and evolving opportunities
To help clients plan for the coming year, our commodities experts share their top near-term, medium-term, and long-term investment ideas.
Macro implications of the AI revolution: is the market right?
Macro Strategist John Butler sets out an initial framework to help answer key questions about the potential macro impact of artificial intelligence.
The US economy in 2024: A tale of transition
Our US macro expert sees changes in consumer and investment spending in the coming year, and highlights what she'll be watching for in terms of policy, politics, and profit margins.
How geopolitics and the energy transition may reshape global trade
We explore the potential near- and longer-term market effects of deteriorating US/China relations, coupled with the shift toward a low-carbon economy.
2024: A year of intensifying macro regime change?
John Butler and Eoin O’Callaghan explore why 2024 could be a year of intensifying macro regime change and what it means for investors.
The intersection of geopolitics and deglobalization
The geopolitical landscape is likely to remain complex and unpredictable throughout 2024. What are the key risks to watch out for and what are the implications for investors?
China fixed income: Dislocations create opportunities in this large and diverse market
Hear from our experts as they uncover new fixed income opportunities in China.
Getting Real: China looks beyond real estate for economic success
Our experts explore signs of an improving macro picture in China.
Monthly Market Snapshot – October 2023
A monthly update on equity, fixed income, currency, and commodity markets.
Have the Fed’s recent comments just provided a tailwind for agency MBS?
Fixed Income Portfolio Manager Brij Khurana explains why the market may be missing an important nuance in the Fed's focus on financial conditions.
The future of investment research
Head of Investment Research Mary Pryshlak joins host Thomas Mucha to discuss the evolution of research in the asset management industry amid shifting market, technological, and geopolitical environments.
Growth efficiency: The new venture capital regime
Frederik Groce, Deal Lead for Wellington Access Ventures, explores how the 'growth-at-any-cost' venture capital regime has shifted to a focus on growth efficiency, highlighting two key metrics for companies to keep top of mind.
The great central bank balancing act
Marco Giordano examines the difficult balancing act that central banks around the world are seeking to perform and its likely implications for investors.
Investing at the biopharma frontier
Rebecca Sykes details groundbreaking innovations happening today in the biopharmaceutical industry. She explains key advancements and the investment landscape for therapies targeting diabetes, cancer, and Alzheimer's disease, three of the deadliest and most expensive diseases facing the world today.
Climate mapping in action: Investment case studies
We describe our Climate Exposure Risk Application (CERA), which can help our investment teams visualize and quantify physical climate risks.
EMEA Investment Forum 2023: highlights
In this short video we share highlights from Wellington's 2023 EMEA Investment Forum, "The only constant is change" and explore associated expert insights.
Private investing portfolio company interview with AMP Robotics CEO
Dr. Matanya Horowitz, CEO of AMP Robotics, highlights how the company integrates AI and robotics into the recycling industry and explores the “actionable guidance” Wellington provides on ESG and other strategic issues.
Monthly Market Snapshot – September 2023
A monthly update on equity, fixed income, currency, and commodity markets.
Deglobalisation and divergence: opportunity or threat?
John Butler and Supriya Menon discuss the drivers underpinning growing macroeconomic divergence and deglobalisation and what it may mean for asset allocators.
Supporting the next generation of entrepreneurs
We highlight how Wellington Access Ventures, our early-stage VC platform, partners with historically underrepresented founders and offers the capital, resources, and networks that these companies have historically lacked.
Novel therapies changing the course of health care
Several new drug classes represent a growing investment opportunity set that could reshape the health care sector.
Thematic investing focus: a new era for medical innovation
Advances in science, tools and technologies are transforming the face of healthcare, revolutionising the diagnosis and treatment of complex diseases. How can thematic investors identify promising opportunities?
Financial Market Review: Third quarter 2023
A monthly update on equity, fixed income, currency, and commodity markets.
Early 2024 resolutions: Enjoy the yield but be smart with your surplus
What should insurers expect from markets as we approach the end of the year? Tim Antonelli, Head of Multi-Asset Strategy – Insurance and Portfolio Manager, offers his views and identifies areas that may be worth a closer look.
Could being boring pay dividends for equity income investing?
Can being boring be a good thing? Our expert explains why he believes for equity income investors, it can be.
Private investing portfolio company interview with RayzeBio CEO Ken Song
Dr. Ken Song, President and CEO of RayzeBio, discusses the company’s innovative approach to radiopharmaceuticals and highlights how Wellington’s public and private investment expertise is distinctive in the health care space.
Why sustainable food systems matter to investors
Our climate research expert explores insights from our joint work with Woodwell Climate Research Center on the pivotal relationship between food systems and biodiversity and highlights potential investment opportunities.
Why climate change matters in private markets
Is bad news for the economy actually good news for markets?
While it has taken longer than expected, higher interest rates are starting to take their toll on the global economy and the "bad news is good news" market narrative could be changing. Members of our Investment Strategy team offer their macro and market outlook, including their latest views on equities, bonds, and commodities.
What if US wealth inequality reverses?
Our experts examine the role of wealth inequality in the US economy and the potential investment implications of a reversal in that dynamic.
Power hungry: Why the energy transition may depend on storage and flexibility
See why our utilities experts see demand for large-scale batteries and flexible-power generation growing more than consensus.
Income investing in multi-asset portfolios: Tipping the balance in your favour
Income can play a crucial role in the pursuit of investment objectives over time, but research from our iStrat Team argues for a balanced approach to asset allocation decisions given the potential trade-offs between income and capital return, risk, and portfolio diversification.
Long/short investing in European equities' growing dispersion
We explore how growing dispersion in European equity markets is driving opportunities for long/short investors, fueled by structurally higher inflation, changing market leadership, and a renewed focus on valuation.
Monthly Market Snapshot — August 2023
A monthly update on equity, fixed income, currency, and commodity markets.
When extreme weather becomes the norm: what’s next for climate investors?
Climate investors can play a crucial role in accelerating mitigation and adaptation solutions. But finding investable opportunities requires a deep understanding of the climate investing landscape.
More from the core: How fundamental extension (140/40) strategies could help
Extension strategies may offer investors more flexibility in portfolio construction, along with potential to achieve greater risk-adjusted returns, thus delivering “more from core” in equity allocations without taking on significantly more tracking risk.
WellSaid: The economic significance of biodiversity
In this short clip from his WellSaid podcast interview, Dr. Zach Zobel of Woodwell Climate Research Center discusses the economic importance of coral reefs — lynchpins of marine biodiversity and vital to fishing, tourism, and other industries.
Three themes (and what they mean) for income investors
With several macro crosscurrents at play, Portfolio Manager Peter Wilke suggests that income-oriented investors not lose sight of the “big picture” in their quest for yield.
Why impact bonds make financial sense
We explore how impact bond investments can help deliver the dual benefits of attractive fixed income returns and material, additional and measurable impact.
Why the change of direction in Germany warrants close attention
Macro Strategist Nicolas Wylenzek assesses the shifts underway in Germany and Europe more broadly, including the recent surge in the far right's popularity and the challenges associated with the energy transition.
US regional banking sector update
We explore how banking regulation and legislation could impact US regional banks, including highlighting the potential for M&A activity and for dispersion to drive long/short opportunities.
Financials amid rising dispersion
We explore why we believe dispersion across stocks, sectors, and geographies is supporting numerous secular themes in long/short investing in financials.
Monthly Market Snapshot — July 2023
A monthly update on equity, fixed income, currency, and commodity markets.
Role, risk, and residual alpha: A framework for manager research
With many asset owners revisiting their strategic asset allocation and considering changes in their investment line-up, Director of Manager Research Kat Price and Head of Multi-Asset Strategy Adam Berger offer their views on manager selection best practices.
Generative AI: Separating hype from opportunity
Two of Wellington's tech experts join host Thomas Mucha to discuss the rapidly evolving AI landscape and separate hype from reality, highlighting everything from the industries most likely to be impacted to AI's geopolitical implications.
Building resilience: Key questions equity investors need to ask today
Consider these essential traits for re-assessing the resilience of your core equity portfolio against higher interest rates and more adverse macro conditions.
Insurance Quick Takes: Understanding the latest shifts in mortality and longevity
Tim Antonelli, Head of Multi-Asset Strategy – Insurance, discusses recent trends and patterns on mortality and longevity, why this topic is important for global insurers of all types and sizes today, and potential opportunities.
Governance best practices in public markets
For private companies approaching the public markets, we highlight the corporate governance best practices that can help pave strong relationships with public market investors.
Core fixed income: Stop me if you’ve heard this one before
Head of Multi-Asset Strategy – Insurance and Portfolio Manager Tim Antonelli updates insurers on the status of the market today, shares what he believes they can expect for the rest of the year, and identifies areas that may be worth a closer look.
In our view, climate change is a macro catalyst with the potential to disrupt entire industries, producing both relative winners and relative losers. Market-neutral strategies may offer the potential to capitalize on both.
Monthly Market Snapshot — June 2023
A monthly update on equity, fixed income, currency, and commodity markets.
WellSaid: Partnering with portfolio companies
Co-head of private investing Michael Carmen explores how we partner with portfolio companies to help them along the "last mile from the private market to the public market" including on key ESG issues for private companies to consider.
The great American labor shortage: Causes, consequences, and solutions
Shifting demographics suggest that US labor markets will remain tight in years to come, with major implications for income inequality, investment spending, and government policy.
A test for the global economy
What are the similarities and differences between the US regional banking crisis and 2008's global financial crisis? How likely is a recession? Should investors be focusing on value or growth? In this podcast, Macro Strategist Nanette Abuhoff Jacobson shares her interpretation of where the economy is headed, outlining where the risks and opportunities may lie for investors in the next 12 months.
Financial Market Review
A monthly update on equity, fixed income, currency, and commodity markets.
Biotech for the next decade: Private market innovations
We explore our latest research in private biotech innovation across immunomodulatory therapies, precision oncology, antibody drug conjugates, radiopharmaceuticals, genetic medicines, and a range of other novel treatment modalities.
How a thematic approach can help harness change within portfolios
Multi-Asset Strategist Supriya Menon and Investment Director Andrew Sharp-Paul discuss why a thematic approach can help harness change within portfolios against a structurally different macroeconomic backdrop.
How to weather the storm: A roadmap for more resilient portfolios
As we face a new era of elevated market and cycle volatility, Co-Head of Investment Strategy Natasha Brook-Walters assesses how asset owners can ensure that their portfolios are up for the challenge.
Multi-Asset Outlook: A recession is looming…or is it?
The economy has largely shrugged off the banking crisis and other concerns this year, while riding positive sentiment driven by AI enthusiasm and a possible soft landing. Members of our Investment Strategy team offer their macro and market outlook for the second half of the year, including their latest views on equities, bonds, and commodities.
Asia Tech: Building the technology for everything, everywhere, all at once
Yash Patodia articulates the investment opportunities within generative AI and mixed reality - two themes that are supercharging the tech industry. He outlines how Asia is the bedrock of the innovation and where he believes the world’s future growth will be.
Thematic investing focus: Cloud-backed AI and enterprise intelligence
Cloud-based computing and artificial intelligence are transforming the way enterprises operate, creating what we believe will be a secular tailwind for companies providing software, machine learning tools, and cybersecurity.
Monthly Market Snapshot — May 2023
A monthly update on equity, fixed income, currency, and commodity markets.
Time for a new playbook on bonds
Is it time to add to fixed income allocations? Multi-Asset Strategist Adam Berger and Fixed Income Strategist Amar Reganti offer their views, as well as thoughts on specific areas of opportunity.
Climate resiliency factor: Helping asset owners go “long” climate change
We aim to offer asset owners an intuitive way to integrate climate risks into their portfolios and shift their expected return profile for better potential outcomes.
Monthly Market Snapshot — April 2023
A monthly update on equity, fixed income, currency, and commodity markets.
EM equities: Can they prove the doubters wrong?
Multi-Asset Strategist Adam Berger offers six reasons that EM equity performance could be much more compelling in the decade ahead, from attractive valuations to economic tailwinds to mean reversion in the US dollar.
How do bond investors approach the new volatile regime?
Wellington fixed income experts provide an analysis on how to navigate short-term volatility and reposition portfolios for the structural changes occurring in fixed income markets. Watch the replay here.
Blue bonds: long-awaited innovation or yet to make a splash?
Blue bonds – which aim to support projects related to ocean conservation – are on the rise. How effective are they and what do investors need to know before they invest?
4 reasons why European investors may benefit from going global
Bonds are looking increasingly attractive, but a new, more volatile, normal means investors with a home bias may wish to revisit portfolios. An inconsistent policy landscape and lower hedging costs are just some of the reasons why European investors in particular may benefit from going global.
Will emerging Asia leapfrog the energy transition?
Decarbonizing while maintaining economic growth presents tremendous challenges for developing countries in Asia. Is technological innovation the solution?
Private biotech market: Innovation, valuations, and capital efficiency
Co-heads of biotech private investments I-hung Shih and Nilesh Kumar join host Thomas Mucha to explore today's private biotech market, highlighting the state of deal flow, valuations, and innovation.
The alpha equation: Balancing active risk sources in multi-asset portfolios
Members of our iStrat Team share their research on the process of deciding how much active risk to take at the asset class and security levels in pursuit of alpha objectives. They also offer a step-by-step framework for implementing the research findings.
Today’s sweet spot for yield, the growing role of alts
Insurance Multi-Asset Strategist Tim Antonelli provides his latest multi-asset views for insurers, with an emphasis on the value of core fixed income in today's environment.
Financial Market Review: First quarter 2023
A quarterly update on equity, fixed income, currency, and commodity markets.
Monthly Market Snapshot — March 2023
A monthly update on equity, fixed income, currency, and commodity markets.
Uncovering opportunities in health care
Our experts analyze the ways in which innovation, digitization, and pandemic recovery come together to brighten the outlook for the health care sector.
Designing a climate-aware strategic asset allocation
Members of our Investment Strategy Team explain how they incorporate climate metrics into their asset allocation optimization process. They also discuss implementation — the choice of specific climate-aware building blocks and strategies to express the desired asset allocation.
Private biotech: Innovation amid disruption
We explore the state of the private biotech market, highlight key areas of innovation, and share three themes we expect to continue.
Health care investing: new opportunities in a challenging environment
In this insightful session moderated by Wellington CEO Jean Hynes, our global industry experts assess the current environment for health care investing and outline why advances in biopharmaceutical innovation and the evolving landscape in health care services should favor active managers with deep subsector expertise.
The value in valuing employees
Companies able to adapt and respond to challenges in the labor market will find themselves well positioned for the future, say Equity Portfolio Managers Yolanda Courtines and Mark Mandel.
Navigating the opportunities and challenges of the energy transition
Two of our climate- and energy-focused investment professionals discuss what the low-carbon transition may look like and how investors can think about the challenges and opportunities it represents.
Monthly Market Snapshot — February 2023
A monthly update on equity, fixed income, currency, and commodity markets.
How can impact investing help address the water scarcity challenge?
In acknowledgement of World Water Day, Louise Kooy-Henckel, Joy Perry and Paul Skinner highlight impact investing can help to address the world's water and sanitation crises.
The allocator’s perspective: three key decisions on EM equities
How can investors best access opportunities within an improving outlook for emerging market equities? Natasha Brook-Walters, co-head of iStrat, shares three key decision points for allocators.
Using market-implied regimes to help build more resilient portfolios
Markets may fluctuate between different regimes, but how exactly should those regimes be defined? Our iStrat Team offers research on their market behavior-based approach and explains how it may aid in constructing portfolios that are better able to withstand the ups and downs of different environments.
Deep and diverse: Welcome to today’s Asia credit market
Two of our Singapore-based experts on Asia credit discuss the market's key features, along with how it's evolved and is likely to continue doing so.
Thematic investing focus: The education imperative
Education is poised for transformation — and set to see a decade of spending and growth we believe will be unmatched by any since the post-World War II boom.
What does the new macro regime mean for investors?
In this Q&A with two senior market practitioners we explore what the new macro regime means for investors and what to expect next.
Fixed income 2023: Ripe for a reversal
Three of our fixed income investment professionals discuss the potentially compelling opportunity set to be found in today's global bond markets.
Monthly Market Snapshot — January 2023
A monthly update on equity, fixed income, currency, and commodity markets.
The churning tides of portfolio liquidity: How to avoid being left high and dry
Markets have sent asset owners some strong reminders of the need to think about liquidity risk across a portfolio and to plan for uncertainty. To help, Multi-Asset Strategist Adam Berger proposes a framework based on the intended uses and sources of liquidity.
Fintech regulation: Geopolitics, ESG, and crypto
Discover how fintech’s growing role as a national strategic imperative impacts regulations, the effect of ESG on regulation, and the specific need for regulation in crypto markets.
EM evolution: New paths in equity portfolio construction
Multi-Asset Strategist Adam Berger offers a framework for structuring EM equity portfolios, with a focus on "EM 3.0" — differentiated active strategies that have less reference to cap-weighted benchmarks and may be more diversifying in a portfolio.
European credit: seeking to make the most of the new market regime
Fixed Income Portfolio Manager Derek Hynes and Investment Specialist Jillian Rooney assess why the new market regime is creating potentially compelling opportunities in the European credit market.
The denominator effect: Thoughts on the rise in private equity allocations
The sharp drop in public markets has left many asset owners with above-target exposure to private assets, raising a number of governance questions. Multi-Asset Strategist Adam Berger considers the likely responses and their potential pros and cons.
Private equity market in 2023
In the first episode of WellSaid Season 2, Co-Head of Private Investing Michael Carmen joins host Thomas Mucha to share his constructive outlook for today's rapidly evolving private market landscape. In addition, they discuss the role of ESG in privates, how Wellington collaborates with entrepreneurs, and much more.
Why investing in themes for EM equities may reap rewards
Portfolio Manager Dáire Dunne outlines why he is increasingly optimistic about the potential opportunities within select EM equity themes this year.
How to invest amidst a still unfolding energy crisis?
In this ActiveViews webcast, senior climate – and energy – focused professionals explore the still unfolding energy crisis in Europe and the associated challenges and opportunities for investors.
An allocator’s playbook for 2023
Natasha Brook-Walters, co-head of iStrat, examines the three objectives allocators may wish to focus on in 2023.
Monthly Market Snapshot — December 2022
A monthly update on equity, fixed income, currency, and commodity markets.
Financial Market Review — Fourth quarter 2022
A quarterly update on equity, fixed income, currency, and commodity markets.
China internet: Identifying opportunities amid economic reopening
China’s re-opening and economic recovery from its zero-COVID policy has bolstered our optimism in Chinese internet companies.
Building climate resilience: Toward a practical corporate framework
The need for systemic climate change resilience is becoming clear. We present a practical framework to help companies enhance resilience in their own operations.
The role of ESG in fintech
Global Industry Analyst Matt Ross and Portfolio Manager Matt Lipton explore the role of ESG in fintech in this clip from their WellSaid podcast episode.
Multi-Asset Outlook — A rocky road to recovery in 2023
Markets may be jumping the gun when it comes to expectations for a policy pivot and the likely risk-asset rewards. Members of our Investment Strategy team still see bumps in the economic road, though their outlook has brightened a bit when it comes to China and other emerging markets.
Small-cap value: Strong past, bright future?
While equity markets have had a challenging recent past, history teaches us that there may be several reasons to be optimistic about small-cap value.
Annual message from our CEO: Forward thinking
After a year of profound economic and market change, CEO Jean Hynes discusses the path forward, including the role of alternatives and sustainability, the firm's investments in talent, and the importance of stability and innovation.
Adding thematic equity investments to a multi-asset portfolio: An allocator’s handbook
Thematic investing may add a powerful return engine to portfolios, but allocators sometimes struggle with implementation decisions. Members of our Investment Strategy Team offer a framework for thinking about allocation size, strategy selection, and performance evaluation.
Thematic investing focus: The future of food
The global food system has reached a tipping point and change is coming, creating investment opportunities aided by demographic, policy, and innovation tailwinds.
Navigating the new global economy in 2023
This executive summary distills the points of view of several of our 2023 Outlook authors. Discover the risks and opportunities they see as we enter a new economic and market regime.
2023 Insurance Outlook: Resolve to solve with a restocked toolkit
Multi-Asset Strategist Tim Antonelli and Insurance Strategist Max Davies share four actionable ideas designed to help insurers successfully navigate 2023.
China equity in 2023: Year of the stock picker
Despite the potential risks of investing in China equity, Equity Portfolio Manager Bo Meunier believes there are attractive opportunities for patient, discerning stock pickers.
Health care outlook for 2023
Looking ahead to 2023, members of our health care team see meaningful innovation, supportive valuations, and a benign political and regulatory backdrop across biopharma, medical tech, and health care services sectors.
Monthly Market Snapshot: November 2022
What’s next for infrastructure?
Portfolio Manager Tom Levering and Global Industry Analyst Tim Casaletto explore the outlook for infrastructure assets in 2023 across each of the key areas.
Semiconductor industry faces near-term headwinds, long-term growth
Global Industry Analyst Eunhak Bae analyzes short-term headwinds and long-term opportunities in the semiconductor industry.
Perspectives on today’s alternative investment environment
Take a quick tour of the alternative investment environment with investors from across our macro research and hedge fund teams, as they explore the geopolitical landscape, macro volatility, and key trends like climate-change adaptation and digital tokenization.
China’s economy: Poised to exceed expectations in 2023
With the bar set so low for China's economy, Macro Strategist Santiago Millan thinks it won't take much for an upside surprise in 2023.
In a new era for interest rates, can hedge funds fill the role of fixed income?
Hedge funds could be valuable building blocks for a fixed income substitute portfolio, but how should the portfolio be constructed? Members of our Fundamental Factor Team share their views.
Why Europe could surprise in 2023
Eoin O’Callaghan and John Butler discuss the contrasting prospects of the Euro Area and the UK and why 2023 could bring positive surprises in the region.
Fintech opportunities after the recent pullback
In four short videos, our fintech investors explore the sector's outlook amid today’s dispersion and highlight the long-term growth potential in payments, fintech incumbents, and crypto innovation.
Private credit in 2023: The benefits of a bear market?
We explore conditions in investment-grade private credit and go deeper on how today’s challenging overall market landscape could fuel opportunities for investors.
Focusing on value amid rising global challenges and opportunities
Our Sustainable Investing (SI) Research Team offers a high-level view of 2023 research and engagement priorities.
Opportunity in disguise: Why bad news may be good for alternatives in 2023
Multi-Asset Strategists Nick Samouilhan and Adam Berger explain how alternative investments may help allocators make tailwinds out of macro and market headwinds in the year ahead.
Five key ESG topics for private companies in 2023
Our ESG for Private Investments Team explores five critical ESG topics for private companies in the year ahead.
Private equity outlook: Why we see a buyers’ market ahead
Co-Head of Private Investments Michael Carmen shares his outlook for the private equity market, highlighting today's normalizing multiples, continued innovation, and, in a number of cases, fewer competitors for the most attractive deals.
Harnessing the power of engagement in stewardship investing
Equity Portfolio Manager Yolanda Courtines explores why company engagement is a key component of successful stewardship investing.
Thematic investing focus: The transportation revolution has arrived
New technology and environmental concerns are creating a disruptive force in the transportation sector, leading to supply-chain investments and a host of new addressable markets.
Have we reached the end of a tech era?
Thematic Strategist Trevor Noren explores how active management and a global lens could provide tech investors with essential edges moving forward.
Multi-Asset High Income Fund
Portfolio Manager Peter Wilke outlines how the Wellington Multi-Asset High Income Fund seeks to achieve consistent high income and minimise downside risk.
How to find potential in volatile European high-yield markets?
Fixed Income Portfolio Manager Konstantin Leidman discusses why European high-yield investors need to be ready for both further volatility and the emergence of new opportunities.
Monthly Market Snapshot: October 2022
Multi-Asset Outlook — Higher rates for longer: What does it mean for markets?
For central banks, the inflation fight is on, but the policy and market responses will vary in the coming months. Nanette Abuhoff Jacobson and Supriya Menon discuss the implications for equities, bonds, and commodities.
Advancing stewardship on biodiversity: Engagement examples
Members of our ESG Research Team share their approach to and examples of engagements on the financial risks of biodiversity.
Biodiversity: Why investors should take note
With scientists now broadly agreeing on the risks posed by accelerating biodiversity loss, Chris Goolgasian and Jenny Xie assess implications for investors and steps they can take.
Geopolitical outlook: Shifting policies, structural advantages?
Geopolitical Strategist Thomas Mucha and Macro Strategist Santiago Millán look at five geopolitical themes they believe investors should watch in 2023.
2023: The year of disinflation for the US economy
In the coming year, US Macro Strategist Juhi Dhawan expects to see inflation begin to decline, the economy adjust to higher interest rates, and labor markets feel the pain of restrictive Fed policy.
Commodities outlook: Near-term uncertainties; long-term opportunities
Members of our Commodities Team describe the micro and macro, cyclical and structural tensions that we expect to drive the asset class in 2023.
Pivot points: Five portfolio positioning ideas for the new market regime
Multi-Asset Strategist Adam Berger looks at five ways in which the world may be very different in the coming decade and how they could influence the next wave of investment winners.
Fintech market overview: The intersection of disruption and dispersion
In the latest episode of WellSaid, Portfolio Manager Matt Lipton and Global Industry Analyst Matt Ross join host Thomas Mucha to discuss their outlook for fintech in today's environment, exploring the recent pullback in the sector, disruptive fintech innovations, potential regulation, and much more.
ESG in private markets: Insights for 2023
We highlight five key areas for private companies to prioritize in 2023 and share the essential steps they can take to keep up with today’s evolving ESG risks and opportunities.
EM equity in 2023: Will the longest bear market in history continue?
We explore three key considerations for EM investors in today’s challenging environment and highlight potential winners and losers in 2023.
Emerging markets debt outlook: A glass half full or half empty?
Against a still-challenging global backdrop for emerging markets, Macro Strategist Gillian Edgeworth highlights opportunities created by extreme credit spread dispersion across individual countries.
High-yield bonds in 2023: Fortune favours the patient
Amid ongoing dislocation in the high-yield market, Fixed Income Portfolio Manager Konstantin Leidman sees opportunities for investors to take advantage of potentially attractive valuations.
Financial Market Review: Third quarter 2022
A new economic era: Why inflation, volatility, and cycles are back
Macro Strategist John Butler argues that a seismic global shift is underway that will disrupt the macro dynamics of the past two decades, challenging long-held investment assumptions.
Monthly Market Snapshot: September 2022
A monthly update on equity, fixed income, currency, and commodity markets.
Equity investing with a thematic lens: Three game changers for 2023
Head of Investment Research Mary Pryshlak and Equity Portfolio Manager Tim Manning highlight their strongest convictions across global equity markets heading into 2023.
Credit market outlook: Partly sunny with a chance of good value
In his 2023 credit market outlook, Fixed Income Portfolio Manager Rob Burn highlights some potentially attractive opportunities in the wake of this year's market sell-off.
Mapping physical climate risks
Working with Woodwell Climate Research Center, we have developed a geospatial mapping tool designed to help our investors visualize and quantify physical climate risks.
Macro renaissance: The opportunity ahead for investors
As the global economy and financial markets transition to a new, potentially more volatile era, macro investment strategies may be well positioned to take advantage of market dislocations and greater asset price differentiation.
After the UK sell-off: what’s next for global markets and investors?
Co-Head of Investment Strategy Natasha Brook-Walters and Head of Macro Strategy John Butler discuss the implications of the recent sell-off in UK markets for global markets and investors.
The growing power of impact investing
Impact Measurement and Management Practice Leader Oyin Oduya appears on the WellSaid podcast series to discuss the future of impact investing, her research approach, and how her team thinks about generating market-rate returns alongside positive social and environmental outcomes.
Investors seeking a sound decumulation strategy must consider a host of variables, including risks that weren't on the radar when they were accumulating assets.
Power move: Why electric utilities may be the key to the energy transition
As the world consumes more electricity from renewable energy sources, the global power grid will need to be modernized. While renewables like wind and solar have attracted much of the attention from investors looking to play the energy transition, electric networks utilities may offer more upside today.
The critical role of ESG for private companies
Explore our full ESG insights for private companies series with our latest research on governance, DEI, climate, and much more.
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Chart in Focus: Can this equity bull market last?
Can this current equity bull market last? In this latest edition of Chart in Focus, we focus on the indicators of whether it may come to an end or keep running.
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