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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.
4
min
Article
2025-11-30
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.
4
min
Video
2025-11-30
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.
6
min
Article
2025-11-30
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Private investing
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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.
6
min
Article
2025-10-31
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.
5
min
Article
2025-09-30
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.
5
min
Article
2025-08-31
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Multi-asset
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Setting ROAs for 2025: A guide for US corporate and public plans
How are pension plans adjusting their ROA assumptions? And how do those assumptions line up with our long-term capital market assumptions? Find out in this annual update.
16
min
Whitepaper
2025-11-30
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.
Video
2025-11-30
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.
5
min
Article
2025-11-30
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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.
4
min
Article
2025-11-30
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Wellington experts
Adam Berger, CFA
Head of Multi-Asset Strategy
Amar Reganti
Fixed Income Strategist
Amy Trainor, FSA
LDI Team Chair and Multi-Asset Strategist
Brij Khurana
Fixed Income Portfolio Manager
Nanette Abuhoff Jacobson
Global Investment and Multi-Asset Strategist
Tim Antonelli, CAIA, CFA, FRM, SCR
Head of Multi-Asset Strategy – Insurance
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Insights Posts
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.
4
min
Article
2025-11-30
Setting ROAs for 2025: A guide for US corporate and public plans
How are pension plans adjusting their ROA assumptions? And how do those assumptions line up with our long-term capital market assumptions? Find out in this annual update.
16
min
Whitepaper
2025-11-30
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.
4
min
Video
2025-11-30
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.
21
min
Podcast
2025-11-30
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.
6
min
Article
2025-11-30
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.
3
min
Article
2025-11-30
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.
Video
2025-11-30
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.
5
min
Article
2025-11-30
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.
5
min
Article
2025-11-30
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.
9
min
Article
2025-11-30
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.
5
min
Article
2025-11-01
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.
7
min
Article
2025-10-31
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.
3
min
Article
2025-10-31
Impact measurement and management: addressing key challenges
Our IMM practice leader describes common impact investing challenges and suggests ways to overcome them.
5
min
Article
2025-10-31
Insurance Quick Takes: Navigating the Principles-Based Bond Definition Project
In our latest Insurance Quick Takes video, Tim Antonelli breaks down the NAIC’s Principles-Based Bond Definition (PBBD) project and implications for US insurers.
6
min
Video
2025-10-31
Why more corporate plans should pass on pension risk transfers
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.
5
min
Article
2025-11-30
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?
8
min
Article
2025-11-30
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.
5
min
Article
2025-10-31
Quarterly Market Review
A monthly update on equity, fixed income, currency, and commodity markets.
18
min
Whitepaper
2026-10-31
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.
6
min
Article
2025-10-31
Monthly Market Review — September 2024
A monthly update on equity, fixed income, currency, and commodity markets.
18
min
Whitepaper
2025-10-31
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.
10
min
Article
2025-10-31
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.
8
min
Article
2025-10-31
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.
3
min
Video
2025-10-18
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.
5
min
Article
2025-10-31
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.
18
min
Article
2025-10-31
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.
5
min
Article
2025-10-31
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.
7
min
Article
2025-10-31
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.
30
min
Event replay
2025-09-30
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.
5
min
Article
2025-09-30
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.
4
min
Article
2025-10-31
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.
12
min
Article
2025-10-31
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.
9
min
Article
2025-10-02
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.
2
min
Article
2025-10-02
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.
6
min
Article
2025-10-31
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.
3
min
Article
2025-09-30
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.
6
min
Article
2025-09-30
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?
3
min
Article
2025-09-30
Monthly Market Review — August 2024
A monthly update on equity, fixed income, currency, and commodity markets.
12
min
Article
2025-09-30
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.
3
min
Article
2025-09-30
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.
5
min
Article
2025-09-30
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.
3
min
Article
2025-09-30
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.
4
min
Article
2025-09-30
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.
7
min
Article
2025-09-30
Extra credit for corporate plans: Advanced topics in LDI implementation
To help corporate DB plans refine their liability-hedging strategies, members of our LDI Team take a deep dive on 3 key liability risks and offer ideas to help improve the design of hedging portfolios.
25
min
Whitepaper
2026-08-31
Picture this: Our forecast in 7 charts
What should investors expect for the remainder of 2024? View a visual summary of our Investment Outlook in seven compelling charts.
10
min
Infographic
2025-09-30
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.
7
min
Article
2025-09-30
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.
6
min
Article
2025-09-30
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.
6
min
Article
2025-10-31
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.
2
min
Article
2025-09-30
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.
5
min
Article
2025-09-30
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.
5
min
Article
2025-09-30
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.
5
min
Article
2025-09-30
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.
6
min
Article
2025-08-31
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.
7
min
Article
2025-08-31
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.
5
min
Article
2025-08-31
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.
3
min
Article
2025-09-30
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.
9
min
Article
2025-08-31
Our commitment to net zero
Continue reading
We share an update on our client-centric, engagement-driven approach to net zero, which focuses on supporting competitive financial outcomes.
12
min
2025-08-31
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.
7
min
Article
2025-08-28
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.
4
min
Article
2025-08-31
Monthly Market Review — July 2024
A monthly update on equity, fixed income, currency, and commodity markets.
12
min
Article
2025-08-31
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.
6
min
Article
2025-08-31
Insurance Quick Takes: US life insurers’ utilization of private placements
In our latest Insurance Quick Takes video, Tim Antonelli discusses research on US life insurers’ use of private placement investments, and shares observations for insurers globally.
3
min
Video
2025-08-08
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.
4
min
Article
2025-02-28
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.
7
min
Article
2025-08-31
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.
4
min
Article
2025-08-31
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.
3
min
Article
2025-08-31
Still waiting…Fed wants more data before cutting policy rates
Our expert dives into Fed policy following the July FMOC meeting.
3
min
Article
2024-10-31
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.
5
min
Article
2025-07-31
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.
10
min
Article
2026-07-31
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.
8
min
Article
2025-07-30
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.
9
min
Article
2025-06-30
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.
3
min
Article
2025-07-31
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.
3
min
Article
2024-11-30
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.
7
min
Article
2025-07-31
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.
Article
2025-07-31
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.
4
min
Article
2025-05-07
Financial Market Review
A monthly update on equity, fixed income, currency, and commodity markets.
17
min
Article
2026-07-31
Monthly Market Snapshot — June 2024
A monthly update on equity, fixed income, currency, and commodity markets.
17
min
Whitepaper
2025-07-31
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.
17
min
Article
2025-07-31
The evolution of derisking: Assessing new and time-tested liability-hedging ideas
As defined benefit plans contemplate the best path to their eventual “end state,” members of our LDI team update their liability-hedging research with a blend of traditional benchmark ideas and new opportunities to capitalize on changing market conditions and a broader investment universe.
Continue reading
22
min
Whitepaper
2026-06-30
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?
3
min
Article
2025-07-31
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?
8
min
Article
2025-06-30
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.
6
min
Article
2025-07-31
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.
4
min
Article
2025-07-31
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.
5
min
Article
2025-06-30
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.
8
min
Whitepaper
2025-07-31
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.
5
min
Article
2025-07-31
Ideas for navigating a new era
Explore our latest views on risks and opportunities across the global capital markets.
Article
2025-06-30
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.
14
min
Article
2025-01-08
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.
Article
2025-07-31
Loans from Federal Home Loan Banks: An opportunity for US insurers to enhance investment yield and total return
Continue reading
Learn why we believe FHLB loans provide compelling potential for insurers to add alpha or increase yield by borrowing at low rates and benefitting from possible favorable treatment by ratings agencies. In addition, explore examples of customized investment solutions that have the potential to capitalize on these advantages.
16
min
Whitepaper
2025-12-31
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.
4
min
Article
2025-06-30
Bond Market Outlook
Our fixed income experts assess how to capitalize on market volatility with a flexible and dynamic approach that leverages diverse high-yielding opportunities and manages risks carefully.
2025-06-30
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.
8
min
Article
2025-06-30
Equity Market Outlook
In our Equity Market Outlook, we offer a range of fundamental, factor, and sector insights.
Article
2025-06-30
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
7
min
Article
2025-06-30
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.
9
min
Article
2025-06-30
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.
8
min
Article
2025-06-30
Alternative Investment Outlook
This collection provides timely ideas across the spectrum of alternative investments -- including hedge funds, private equity, and private credit.
Article
2025-06-30
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.
4
min
Article
2025-06-30
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.
7
min
Article
2025-06-30
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.
5
min
Article
2025-06-30
Private Investment Outlook
In our private market outlook collection, we explore the themes driving the rapid evolution of private credit and private equity markets.
Article
2025-06-30
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.
5
min
Video
2025-06-30
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?
7
min
Article
2025-03-21
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.
18
min
Whitepaper
2026-05-31
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.
4
min
Article
2025-06-30
Commodities: Entering a scarcity-pricing regime
Is copper the oil of the energy transition? Here, we provide a view of this important commodity’s future, captured in four charts.
8
min
Article
2025-06-30
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.
3
min
Article
2025-06-30
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.
4
min
Article
2025-04-30
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?
8
min
Article
2025-06-30
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.
Article
2025-06-30
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.
5
min
Article
2025-03-31
The revenge of the monetarists
Fixed Income Portfolio Manager Brij Khurana makes the case for a monetarist explanation for moderating inflation.
5
min
Article
2025-06-30
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.
8
min
Article
2025-06-30
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.
4
min
Article
2025-06-30
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.
4
min
Video
2025-06-30
2023 Climate Report
Aligned with TCFD recommendations, this report describes how we manage climate-related risks and opportunities, engage with companies on climate change, and reduce our own carbon footprint.
Report
2025-06-30
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.
14
min
Article
2025-05-23
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?
6
min
Article
2025-06-30
Monthly Market Snapshot — April 2024
A monthly update on equity, fixed income, currency, and commodity markets.
20
min
Whitepaper
2025-05-31
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.
9
min
Article
2026-05-31
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.
5
min
Article
2025-05-31
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.
7
min
Article
2025-05-30
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.
5
min
Article
2025-05-31
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.
5
min
Article
2025-05-30
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.
7
min
Article
2025-05-31
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.
8
min
Article
2024-12-31
Innovation and M&A driving biotech recovery
We are optimistic that the biotech market will continue to recover, supported by innovation, an improving macroeconomic environment, continued M&A activity, and improved fundamentals for the sector.
10
min
Article
2025-04-30
Time to derisk? Funded status up, but potential volatility ahead
LDI Team Chair Amy Trainor explains why US corporate DB plans may have a rare and limited opportunity to derisk and offers suggested action steps.
3
min
Article
2024-11-15
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.
2
min
Video
2025-04-30
Powell back to waiting on inflation data
Our expert's key takeaways from the May FOMC meeting.
2
min
Article
2025-05-31
2023 Sustainability Report
We appreciate the opportunity to share our approach to advancing sustainable practices across our investment, client, and infrastructure platforms.
Report
2025-04-30
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.
6
min
Article
2025-04-30
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.
11
min
Article
2025-03-31
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.
4
min
Article
2025-04-30
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.
6
min
Article
2025-04-30
4 equity themes: Budding opportunities in small caps and more
Our expert highlights 4 areas where he sees opportunity in global equity markets.
3
min
Article
2025-04-30
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.
3
min
Article
2025-04-30
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.
4
min
Article
2025-04-30
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.
3
min
Article
2024-10-31
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.
11
min
Article
2025-04-30
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.
11
min
Article
2025-04-30
Monthly Market Snapshot — March 2024
A monthly update on equity, fixed income, currency, and commodity markets.
20
min
Whitepaper
2025-04-30
Financial Market Review
A quarterly update on equity, fixed income, currency, and commodity markets.
19
min
Whitepaper
2025-04-30
Biden 2.0: National security and investment themes
The geopolitical and investment implications of a potential second Biden term.
5
min
Article
2025-04-30
A turning point for US small caps
Myth busting US small caps: why now could be a compelling entry point for the asset class.
18
min
Article
2025-04-30
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.
17
min
Article
2025-04-30
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.
4
min
Article
2025-04-30
Trump 2.0: National security and investment themes
Our expert examines the geopolitical and investment implications of a potential second Trump presidency.
14
min
Article
2025-04-30
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.
5
min
Article
2025-04-30
The role of multi-asset credit in DC plans
We believe that multi-asset credit can augment a DC plan's core or core plus allocation by potentially providing diversification, real-time allocations to sector opportunities, and a stable income stream.
18
min
Whitepaper
2025-04-30
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.
5
min
Article
2025-04-30
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.
Article
2025-03-31
Hyper-personalization and the AI-driven commerce revolution
A member of our early-stage venture team explores the many ways in which artificial intelligence is likely to transform the consumer experience.
Article
2025-03-31
Insurance Quick Takes: What's next for CLO risk charges?
Tim Antonelli, Head of Insurance Multi-Asset Strategy and Portfolio Manager, breaks down the impact of recent US insurance regulatory developments on the CLO universe, and why this matters for U.S. insurers.
Video
2025-03-31
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.
Whitepaper
2026-03-31
FOMC: Stable policy amid market volatility
The Fed is holding steady amid market turmoil. See our quick notes on the FOMC's March policy statement, forecasts, and the Fed chair's press conference.
Quick Take
2025-03-31
Using defensive equities in a return-seeking portfolio: A factor framework for corporate plans
Members of our LDI and Fundamental Factor teams share their views on defensive equity investments, including their role in a plan's portfolio and the current environment for defensive factors.
Article
2025-03-31
Will proposed corporate governance reforms help to narrow the “Korea discount”?
Could South Korea's Corporate Value-up Program help to narrow the so-called “Korea discount” and build on the momentum gathering pace elsewhere across Asia to improve corporate governance and shareholder returns?
Quick Take
2025-03-31
Agency MBS key questions for 2024
Is there room for mortgage spreads to tighten further? Brian Conroy and Joseph Marvan examine this and seven other questions that will be significant for the agency MBS market in 2024.
Quick Take
2025-03-31
Monthly Market Snapshot — February 2024
A monthly update on equity, fixed income, currency, and commodity markets.
Whitepaper
2025-03-31
Monthly Market Snapshot — May 2024
A monthly update on equity, fixed income, currency, and commodity markets.
15
min
Whitepaper
2025-03-31
Time for small caps to shine?
Multi-Asset Strategist Nanette Abuhoff Jacobson sees reasons to believe there may be brighter days ahead for US small-cap stocks, including the economic outlook, valuations, and market inefficiencies.
Quick Take
2025-03-31
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.
Article
2025-03-31
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.
Article
2025-03-31
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.
Article
2025-03-31
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.
Article
2025-03-31
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?
Article
2025-03-08
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.
Article
2025-03-31
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.
7
min
Article
2025-01-31
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?
5
min
Article
2025-03-31
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.
12
min
Article
2025-03-31
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.
Article
2024-07-31
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
min
Article
2025-01-31
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.
4
min
Video
2025-03-31
5 reasons to be active in fixed income
Actively managed fixed income portfolios have several distinct advantages over passive approaches.
Whitepaper
2025-02-28
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?
Article
2025-03-31
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?
Article
2025-02-23
Insurance Quick Takes: IFRS S1 and S2: What's the impact to insurance investing?
Tim Antonelli, Head of Multi-Asset Strategy – Insurance, discusses the implications of two new sustainability reporting standards for global insurers, IFRS S1 and IFRS S2, and why it's not just IFRS filers that should pay attention.
Video
2024-11-30
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.
Article
2026-02-28
Monthly Market Snapshot — January 2024
A monthly update on equity, fixed income, currency, and commodity markets.
Whitepaper
2025-02-28
Too much focus on Fed, not enough on fiscal
Current US fiscal and monetary policy stances argue for risk taking in fixed income.
Article
2025-02-07
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
Video
2025-01-31
Top 5 fixed income ideas for 2024
With central banks set to pivot to accommodative policy, and elevated yields still prevailing, we think fixed income offers compelling opportunities. Here we share our top five ideas.
Quick Take
2025-02-28
CLOs: 4 hot topics
Bank demand, net supply, the cycle for broadly syndicated loans, and loan fundamentals will be front and center for CLO investors in 2024.
Quick Take
2025-02-28
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?
Article
2025-02-28
Trends and transformation distilled: Our 2024 outlook in brief
Our experts explore investment opportunities and risks for the year ahead.
Article
2025-02-28
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.
Article
2025-01-31
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.
Article
2025-01-31
Emerging markets debt: resilience in the face of adversity
Our expert discusses why she is positive on the outlook for emerging markets debt, even though growth will likely slow.
Quick Take
2025-01-31
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.
Article
2025-01-31
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.
Video
2025-01-31
Monthly Market Snapshot – December 2023
A monthly update on equity, fixed income, currency, and commodity markets.
Whitepaper
2025-01-31
Financial Market Review
A quarterly update on equity, fixed income, currency, and commodity markets.
Whitepaper
2025-01-31
The shifting liquidity landscape: What’s at stake?
The beginning of the end could be in sight for the Federal Reserve’s quantitative tightening (QT) program. US Macro Strategist Juhi Dhawan considers the Fed's next steps and what they could mean for banks, liquidity, and markets broadly.
Quick Take
2025-01-31
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.
Whitepaper
2025-01-31
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
Article
2024-12-31
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?
Article
2025-01-31
Bizarro World: Could 2024 be the opposite of 2023?
Fixed Income Portfolio Manager Brij Khurana details the dynamics that may upend investor expectations of a repeat of 2023 this year.
Quick Take
2025-01-17
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.
Article
2025-01-31
Corporate pension trends and topics: What’s top of mind for 2024?
Members of our LDI Team address a range of topics that US corporate plans will be thinking about in the coming year, from pension funding and accounting issues to portfolio diversification opportunities.
Article
2025-01-31
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.
Article
2026-01-31
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.
Article
2024-12-31
Global high-yield outlook: Near term, defensive but longer term, solid
High-yield portfolio managers Mike Barry and Konstantin Leidman discuss their 2024 outlook and the merits of a near-term defensive stance with an eye on longer-term opportunities.
Quick Take
2024-12-31
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.
Article
2024-12-31
Monthly Market Snapshot – November 2023
A monthly update on equity, fixed income, currency, and commodity markets.
Whitepaper
2024-12-31
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.
Article
2024-12-31
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.
Article
2024-12-31
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.
Article
2024-12-31
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.
Article
2024-12-31
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.
Article
2024-12-31
Fed’s projections yielded mixed results this year — what’s in store for 2024?
Our Fed watcher opines on 2023 policy and looks ahead to 2024.
Quick Take
2024-03-31
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.
Article
2024-12-31
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.
Whitepaper
2025-12-31
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.
Article
2024-12-31
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.
Article
2024-12-31
China’s growing self-reliance could bolster its equity market
Our expert, Philip Brooks, finds reasons for optimism in China's equity market.
Quick Take
2024-12-31
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,
Article
2024-12-31
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.
Article
2024-12-31
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.
Article
2024-12-31
The growing importance of supply chain transparency
Head of Sustainable Investment Wendy Cromwell explains why supply chains remain a key investment risk and details related research areas for our SI team in 2024.
2024-12-31
Should investors prepare for a rate hike in Japan?
Investment Directors Marco Giordano and Masahiko Loo discuss why a rate rise in Japan may occur sooner than markets expect.
Quick Take
2024-12-31
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.
Article
2025-11-30
Full speed ahead: China’s race to implement AI
Our experts examine market implications of China's AI expedition.
Quick Take
2024-11-30
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.
Article
2024-11-30
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.
Article
2024-06-30
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.
Article
2024-11-30
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?
Article
2024-11-30
Look below the surface: A contrarian view on China equities
Equity expert, Ben Chen, dives into China's murky investment landscape.
Quick Take
2024-05-31
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.
Article
2024-11-30
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.
Article
2024-11-30
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.
Article
2024-11-30
Getting Real: China looks beyond real estate for economic success
Our experts explore signs of an improving macro picture in China.
Article
2024-11-30
Monthly Market Snapshot – October 2023
A monthly update on equity, fixed income, currency, and commodity markets.
Whitepaper
2024-11-30
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.
Article
2024-11-30
Securitized debt: Strategies for navigating emerging cracks in consumers’ financial health
Our expert highlights reasons for deteriorating consumer financial health and explores strategies for mitigating risk in securitized asset-backed securities.
Quick Take
2024-11-15
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.
Podcast
2024-09-30
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.
Article
2024-11-30
Setting ROAs for 2024: A guide for US corporate and public plans
How are pension plans adjusting their ROA assumptions? And how do those assumptions line up with our long-term capital market assumptions? Find out in this annual update.
Whitepaper
2024-12-31
You snooze, you may lose: The case for bonds
There are signs the Federal Reserve's rate-hiking cycle may be nearing an end, but some uncertainty remains. With that in mind, Multi-Asset Strategist Nanette Abuhoff Jacobson considers the timing of a move from cash to bonds.
Quick Take
2024-11-30
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.
Video
2024-11-30
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.
Article
2024-11-30
Bank downgrades: Should LDI investors be worried?
Members of our LDI team discuss the implications of recent US bank credit-rating downgrades and offer potential next steps for corporate plan sponsors.
Article
2024-11-30
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.
Video
2024-10-31
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.
Article
2024-10-31
Monthly Market Snapshot – September 2023
A monthly update on equity, fixed income, currency, and commodity markets.
Whitepaper
2024-09-30
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.
Article
2024-10-31
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.
Article
2024-05-31
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?
Article
2024-09-30
Financial Market Review: Third quarter 2023
A monthly update on equity, fixed income, currency, and commodity markets.
Whitepaper
2024-10-31
Liability-hedging diversifiers: What’s on your pension’s playlist?
Corporate pensions moving closer to their end state may benefit from more diversified liability-hedging allocations. To help, LDI Team Chair Amy Trainor offers a liability-hedging diversifiers “playlist” — a set of asset classes and strategies that may harmonize well with a variety of objectives, from downside mitigation to long-term outperformance versus long corporate bonds.
Whitepaper
2024-10-31
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.
Article
2024-10-31
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.
Article
2024-09-29
Why climate change matters in private markets
We explore why climate change matters in private markets, highlight the current regulatory landscape, and profile key questions to expect from public market investors.
Continue reading
Article
2024-10-31
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.
Video
2024-09-30
Insurance Quick Takes: A look at the future landscape of US insurance climate risk oversight
Tim Antonelli, Head of Insurance Multi-Asset Strategy and Portfolio Manager, discusses the main points of a recent report published by the Federal Insurance Office (FIO), and the importance and impact to US insurers and insurance climate risk oversight.
Video
2024-10-31
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.
Article
2024-09-30
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.
Article
2024-09-30
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.
Article
2024-03-31
The “cleanest dirty shirt” now has too many stains
Fixed Income Portfolio Manager posits that US fiscal profligacy will change the game for asset allocators.
Quick Take
2024-09-30
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.
Article
2024-09-30
Shareholder activism in Japan: Integrating ESG within the investment process
In the final article within our series on shareholder activism in Japan, ESG Analyst Soo Ho Jung shares how the Japan equity team integrates ESG to help realize value for investors.
Quick Take
2024-09-30
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.
Whitepaper
2024-09-30
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.
Article
2024-09-30
Monthly Market Snapshot — August 2023
A monthly update on equity, fixed income, currency, and commodity markets.
Whitepaper
2024-09-30
Fed not yet willing to declare victory on inflation
We think the Fed is done raising rates for this cycle, despite the likelihood that they are being overly optimistic about inflation. Read to find out why.
Quick Take
2024-03-31
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.
Article
2024-09-30
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.
Whitepaper
2024-06-30
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.
Video
2024-08-31
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.
Article
2024-08-31
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.
Article
2024-09-30
Public CRE debt — Risk, opportunity, or both?
Our experts explore the implications of the ongoing stress in the public CRE debt, or commercial mortgage-backed securities (CMBS), space for investors and analyze risks and opportunities for ratings-constrained insurers.
Quick Take
2024-09-30
Green horizons: How the shift toward sustainable finance may reshape fixed income markets
Three sustainability trends have the potential to reshape fixed income markets, leading to a range of new opportunities for investors.
Quick Take
2024-08-31
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.
Article
2024-08-31
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.
Article
2024-09-30
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.
Article
2024-08-31
Monthly Market Snapshot — July 2023
A monthly update on equity, fixed income, currency, and commodity markets.
Whitepaper
2024-07-31
Reasons for optimism about Indian equities
Our experts explain why, despite criticisms that Indian equities trade at higher valuations today than they have historically, they may have the potential to help drive total returns over time.
Quick Take
2024-08-31
Building resilience: Key questions equity investors need to ask today
Yolanda Courtines explores how equity investors can re-assess the resilience of their core portfolio against higher interest rates and more adverse macro conditions.
Article
2024-08-31
After the US downgrade: Thoughts on public debt, bond yields, and Fed policy
In the wake of the US debt downgrade by Fitch, Macro Strategist Juhi Dhawan explains what worries her most about the nation's debt situation and considers the impact on the term premium and the Fed’s plans.
Quick Take
2024-08-31
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.
Article
2024-08-31
Economic and market forecast in six charts
This visual summary of Wellington Management’s 2023 Outlook captures insights on economic and market forces shaping investment results from specialists from across our investment platform.
2024-08-31
Why cash won’t cut it for long: The case for bonds
Global Investment and Multi-Asset Strategist Nanette Abuhoff Jacobson and Investment Strategy Analyst Patrick Wattiau explore the relative potential benefits of bonds versus cash.
Quick Take
2024-08-31
Commercial property values shrinking? No problem for big cities
We analyze the impact of declining office property values and outline the reasons why they believe large cities should be able to weather the storm of shrinking commercial property value.
Quick Take
2024-08-31
What AI could mean for fixed income
Fixed Income Portfolio Manager Brij Khurana details the potential effects of artificial intelligence on the fixed income market.
Quick Take
2024-08-31
How would emerging markets weather a “standard” recession?
Macro Strategist Gillian Edgeworth explores the potential impact of a developed market recession on emerging markets.
Quick Take
2024-08-31
Seven observations on the latest US/China executive order
Geopolitical Strategist Thomas Mucha shares his analysis of the recent Biden administration executive order, which aims to restrict investment into certain sectors in China, and details the potential investment implications.
Quick Take
2024-08-31
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.
Video
2025-08-31
How to interpret the Bank of Japan’s latest policy shift
We analyse the wide-ranging investment implications of the Bank of Japan's latest policy shift.
Quick Take
2024-08-31
Shareholder activism in Japan: How our engagement approach drives value
Equity Portfolio Manager Katsuhiro Iwai introduces the Japan equity investment team's approach to engagement, sharing a number of successful recent case studies.
Quick Take
2024-08-31
US loses its AAA rating (again)
US Macro Strategist Michael Medeiros analyzes Fitch's recent downgrade of US credit quality and explores the bigger issues at play.
Quick Take
2024-08-31
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.
Article
2024-08-31
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.
Article
2024-07-31
Climate investing: The case for a market-neutral approach
Continue reading
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.
Whitepaper
2024-07-31
Chair Powell maintains optionality
Fixed Income Analyst Caroline Casavant shares what she thinks matters most for investors in light of the latest interest-rate hike from the Fed.
Quick Take
2024-07-31
Monthly Market Snapshot — June 2023
A monthly update on equity, fixed income, currency, and commodity markets.
Whitepaper
2024-07-31
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.
Article
2024-07-31
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.
Podcast
2024-07-31
Bank loans remain attractive despite macroeconomic uncertainty
Our experts believe that bank loans currently offer attractive levels of income and have already priced in an overly bearish macroeconomic view.
Quick Take
2024-07-31
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.
Video
2024-07-31
Financial Market Review
A monthly update on equity, fixed income, currency, and commodity markets.
Whitepaper
2024-07-31
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.
Article
2024-07-31
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.
Article
2024-07-31
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.
Article
2024-07-31
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.
Article
2024-07-31
State of the credit markets: Does cash rule everything around us?
Fixed Income Portfolio Manager Brij Khurana outlines the state of the credit market today, compares historical periods of quantitative easing, and warns credit investors of cash scarcity in the near future.
Quick Take
2024-06-30
Insurance Quick Takes: Unpacking potential impacts of newly proposed NAIC regulations
Tim Antonelli, Head of Multi-Asset Strategy – Insurance, analyzes the potential impact for US insurers of a recent proposal that could allow the NAIC's security valuation office to override ratings of investments.
Video
2024-06-30
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.
Video
2024-07-31
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.
Article
2024-06-30
Investing in the age of great-power competition
As competition between great powers intensifies, a new global order is taking shape. Geopolitical Strategist Thomas Mucha explores the investment implications of a more fragmented and fractious world.
Quick Take
2024-06-30
Financial materiality: The cornerstone of the ISSB’s global baseline for sustainability disclosure
The new standards may help provide market participants with data necessary to price sustainability-related risks and opportunities, which can feed directly into the assessment of enterprise value.
Quick Take
2024-06-30
Monthly Market Snapshot — May 2023
A monthly update on equity, fixed income, currency, and commodity markets.
Whitepaper
2024-06-30
Keep your spread and earn on it too? The case for intermediate credit
Amid heightened volatility and an uncertain macro environment, members of our LDI Team see opportunity for corporate plans in the intermediate credit market.
Article
2024-06-30
More green shoots: Tracking trends in sustainable debt issuance
While growth in the sustainable debt market has been uneven, certain pockets offer substantial opportunities. Two of our fixed income investment professionals weigh in.
Quick Take
2024-06-30
FX outlook: Is USD exceptionalism withering away with the Fed hiking cycle nearing an end?
Discover the status of the USD today, learn where the greenback may be headed going forward, and understand why.
Quick Take
2024-01-31
Mind the liquidity (and cost) gap: Revisiting a plan’s hedge-ratio approach
Members of our LDI Team take a fresh look at the process of setting and managing liability hedge ratio targets, including liquidity considerations that are top of mind today and the implementation toolkit.
Article
2025-06-30
Is your asset allocation ready for the realities of climate change?
Our Investment Strategy Team shares key findings from the research behind their climate-aware strategic asset allocation (SAA) approach, including challenges and trade-offs that asset owners should understand.
Quick Take
2025-06-30
Fed skips along the path to a pause
Jeremy Forster analyzes the Federal Reserve's decision to pause its interest-rate hiking cycle, explains why he believes it could be an extended pause, and shares the potential implications for fixed income markets.
Quick Take
2024-06-30
Activism – History and evolution in Japan
Investment Specialist Toshiki Izumi examines the history of shareholder activism in Japan, with particular emphasis on the differences between current and historical attitudes toward activism.
Quick Take
2024-06-30
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.
Article
2024-05-31
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.
Article
2024-05-31
Monthly Market Snapshot — April 2023
A monthly update on equity, fixed income, currency, and commodity markets.
Whitepaper
2024-05-31
Is the structural case for inflation still intact?
Even if inflation cools in the coming months, members of our Investment Strategy team expect it to be "stickier" over the long term. Find out how that might impact asset allocation decisions.
Quick Take
2024-05-31
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.
Article
2024-05-31
Have you looked at Brazilian equities lately?
Equity Research Analyst David Reid believes now is an opportune time for EM equity investors to consider implementing or augmenting portfolio allocations to Brazilian stocks.
Quick Take
2024-05-31
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.
Event replay
2024-05-31
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?
Article
2024-05-31
Value investing: Alive and well in today’s market
Global Investment Strategist Nanette Abuhoff Jacobson expects the drivers of the next economic cycle to favor value stocks over their growth counterparts.
Quick Take
2024-05-31
Closing the return gap: A new set of “stepping stone” ideas
Multi-Asset Strategist Adam Berger offers incremental, flexible investment ideas that can be combined to help asset owners pursue their goals amid declining capital market return expectations.
Continue reading
Whitepaper
2024-08-02
A guide to ESG materiality assessments
We continue our "ESG insights for private companies" series by exploring ESG materiality assessments, including why they are important and how to conduct one for your private company.
Continue reading
Article
2025-07-31
US debt ceiling back in focus: The context matters
US Macro Strategist Mike Medeiros shares his latest thoughts on the US debt-ceiling standoff, including its potential outcomes and implications.
Quick Take
2024-05-31
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?
Article
2024-05-31
Did the Fed just make a policy error?
Did the Fed just make a policy error? All things considered, Fixed Income Portfolio Manager Jeremy Forster thinks the answer is yes. Learn why and what the implications could be.
Quick Take
2024-05-31
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.
Whitepaper
2024-04-30
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.
Podcast
2024-03-31
India equity's improving risk/return tradeoff
This is not your grandfather's India equity market. Equity Portfolio Manager Niraj Bhagwat and Investment Director Philip Brooks explain why and back their argument with risk/return data.
Quick Take
2024-04-30
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.
Whitepaper
2023-10-15
Monthly Market Snapshot — March 2023
A monthly update on equity, fixed income, currency, and commodity markets.
Whitepaper
2024-04-30
Financial Market Review: First quarter 2023
A quarterly update on equity, fixed income, currency, and commodity markets.
Whitepaper
2023-10-15
How do bank failures impact fintech?
Global Industry Analyst Matt Ross analyzes the ways in which recent US bank failures could impact the fintech sector in public and private markets.
Quick Take
2024-04-30
Three macro assumptions that could be just plain wrong
Fixed Income Portfolio Manager Brij Khurana offers his non-consensus take on three entrenched, but potentially flawed, beliefs in today's market environment.
Quick Take
2024-04-30
DC investing themes: Our big three for 2023
Defined contribution director Kristin O'Donnell and Account Manager Ryan Mullaney highlight three investment ideas to help DC plan sponsors navigate today's uncertain landscape.
Article
2024-04-30
Win by losing? The surprising truth about long-term active management
Research shows that even the best managers have had to bounce back from periods of underperformance. For asset owners who've invested time and effort to find these managers, the data argues for cultivating a long-term mindset.
Quick Take
2024-04-30
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.
Article
2024-04-30
European stocks: Regime change and the valuation gap
Portfolio Manager Dirk Enderlein explains why we may see more dispersion in European stocks in coming years and why there may be greater clarity about which stocks will be the new market leaders.
Quick Take
2024-04-30
The state of climate investing: Asset owner perspectives
Discover what we learned from our 2022 global study on asset owners' interest and engagement around climate investing.
Collection
2024-04-30
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.
Whitepaper
2024-04-30
Lessons from 2008: Stress testing portfolios in today’s market
While very different from 2008, the current market environment makes a strong case for portfolio stress testing. Gregg Thomas, Co-Head of Investment Strategy, offers suggestions for improving the process, including assessing factor positioning and reducing recency bias.
Quick Take
2024-04-30
Commercial real estate: Seeking shelter from the storm
Finding potential opportunities in commercial mortgage-backed securities these days is all about knowing where to look, says Fixed Income Credit Analyst Carolyn Natale.
Quick Take
2024-04-30
US banking system: Three pressing questions
Equity Strategist Andrew Heiskell asks three questions investors ought to ask when it comes to the recent US banking system volatility.
Quick Take
2024-04-30
High-yield bonds: Too early to get aggressive?
Our high-yield team suggests a somewhat defensive risk posture for now but expects opportunities to take on greater risk to arise later this year.
Quick Take
2024-04-30
Integrating climate change into capital market assumptions: our approach and findings
Members of our Investment Strategy team explain how they are incorporating climate-related inputs, including physical and transition risks, into their capital market assumptions and outline the impact of these changes at the asset-class level.
Continue reading
Article
2024-04-30
Adapting our capital market assumptions to the realities of climate risk
Continue reading
How will asset prices be affected by climate risk? Members of our Investment Strategy team explain how they're seeking to answer that question with their new climate-aware capital market assumptions.
Quick Take
2024-04-30
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.
Article
2024-04-30
Emerging markets health care: Ready for takeoff?
Global Industry Analyst Sue Su shares her sanguine outlook on the health care sector in emerging markets, especially in China, which represents the largest opportunity in this space.
Quick Take
2024-03-31
Will higher rates sap US consumer spending?
Higher interest rates have increased borrowing costs. Could a consumer-led US recession be looming? Fixed Income Portfolio Manager Kyra Fecteau sees three factors that may help mitigate the impact.
Quick Take
2024-03-31
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.
Event replay
2024-03-31
Private placement amid today’s financial distress
We explore how today's challenging environment impacts private credit markets, including its effects on spreads, issuance, and terms.
Quick Take
2024-03-31
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.
Article
2024-03-31
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.
Article
2024-03-31
Analysing the bright outlook in Asia tech
Global Industry Analyst Yash Patodia outlines the state of the Asia tech sector today and identifies potential long-term opportunities in this space.
Article
2024-03-31
Macro risks to watch in this rapidly oscillating global cycle
Macro Strategist John Butler explores the two key questions he believes macro investors should focus on in the current volatile environment.
Quick Take
2024-03-31
Financial stability versus inflation: The Fed’s balancing act has gotten much trickier
The Fed’s policy calculus has clearly changed somewhat over the past few weeks but the central bank may not be done hiking rates just yet, says Fixed Income Portfolio Manager Jeremy Forster.
Quick Take
2024-03-31
Securitized assets: Caught in the storm but with scattered bright spots
Securitized assets have been on the front lines of the ongoing turmoil in the banking sector, but not all securitized subsectors appear equally vulnerable.
Quick Take
2024-03-31
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.
Article
2024-03-31
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.
Article
2024-03-31
Monthly Market Snapshot — February 2023
A monthly update on equity, fixed income, currency, and commodity markets.
Whitepaper
2024-03-31
Wellington investor survey: The bears ponder whether inflation will be too hot, too cold or just right
Conducted prior to the collapse of Silicon Valley Bank, our latest quarterly survey of Wellington investors shows a majority of respondents being more bearish than the consensus view.
Quick Take
2024-03-31
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.
Article
2024-03-31
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.
Whitepaper
2024-03-31
SVB collapse: What are the implications?
Multi-Asset Strategist Supriya Menon shares her latest perspectives on the collapse of Silicon Valley Bank Financial Group (SVB) and the unfolding implications for investors. (Published 14 March 2023)
Quick Take
2024-03-31
On to the next crisis: Glimpsing a post-SVB world
Amid the turmoil in the US banking sector, Global Investment Strategist Nanette Abuhoff Jacobson suggests investors consider pivoting to a “risk-management mode” that favors higher-quality assets. (Published 14 March 2023)
Quick Take
2024-03-31
Tight money: Banks feeling the squeeze of higher rates
In this curated collection, some of our experts share their latest perspectives on the ongoing turmoil in the US banking sector and its potential implications.
Collection
2024-03-31
Understanding the US banking sector shake-up
Investment Communications Managers Jitu Naidu and Adam Norman detail recent US bank failures and analyze the implications. (Published 14 March 2023)
Quick Take
2024-03-31
Decoding the effects of deglobalization
Nicholas Petrucelli outlines the economic, political, and geopolitical underpinnings of deglobalization. He also demonstrates the impact this trend has today and analyzes the investment implications.
Quick Take
2024-03-31
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.
Article
2024-03-31
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.
Article
2024-03-31
India: Structural tailwinds for 2023 and beyond
Following his recent trip to India, Macro Strategist Tushar Poddar shares why he's very positive on the country's medium- to longer-term structural outlook.
Quick Take
2024-03-31
New BOJ governor: Dove, hawk… or owl?
Investment Director Masahiko Loo and Client Portfolio Manager Jitu Naidu discuss potential implications of the upcoming “changing of the guard” at the BOJ.
Quick Take
2024-03-31
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.
Whitepaper
2024-03-31
US debt-ceiling risk: Justifiable jitters?
With markets on high alert around the US debt-ceiling standoff, Macro Strategist Juhi Dhawan lays out some possible paths forward and weighs the economic risks.
Quick Take
2024-02-29
More currency volatility ahead: Which hedges could help?
To help investors begin to think about elevated currency risk, as well as opportunities to generate alpha through active currency management, members of our iStrat Team offer an overview of hedging approaches and their potential tradeoffs.
Quick Take
2024-02-29
Sector rotation opportunities for nimble credit investors
Following a credit market rally, Fixed Income Portfolio Manager Rob Burn still sees value in higher-yielding sectors but believes investors should stay nimble.
Quick Take
2024-02-29
Russia/Ukraine: One year in with no end in sight
Geopolitical Strategist Thomas Mucha analyzes the impacts of the Russia/Ukraine conflict one year in and identifies potential longer-term effects.
Quick Take
2024-02-29
European equities: a complex story
Macro Strategist Nicolas Wylenzek examines the complex prospects of European equities from both a near-term and structural perspective.
Quick Take
2024-02-29
Monthly Market Snapshot — January 2023
A monthly update on equity, fixed income, currency, and commodity markets.
Whitepaper
2023-05-15
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.
Article
2024-02-29
Key updates to Wellington’s 2023 proxy voting guidelines
We periodically update our guidelines in an ongoing effort to help Wellington's investment teams vote proxies in our clients' best interests. Read about key updates for this year from two members of Wellington's ESG team.
Quick Take
2024-02-29
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.
Article
2024-02-29
What’s driving convertibles in 2023?
Following a challenging 2022, Fixed Income Portfolio Manager Mike Barry and Investment Director Raina Dunkelberger highlight three tailwinds that may help turn the tide for convertibles.
Quick Take
2024-01-31
Debt and dysfunction in Washington: The US hits the ceiling (again)
Global Investment Strategist Nanette Abuhoff Jacobson talks to Macro Strategist Mike Medeiros about the US debt-ceiling showdown and considers its potential investment implications.
Quick Take
2024-02-29
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.
Whitepaper
2024-01-31
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.
Article
2024-02-29
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.
Article
2024-02-29
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.
Article
2024-02-29
Peak inflation, back to goldilocks? Not so fast
Portfolio Manager Nicholas Petrucelli explains why the market could be underestimating just how complex and volatile the global economic cycle is and details the implications for inflation.
Quick Take
2024-02-29
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.
Article
2024-02-29
February Fed meeting: Chair Powell strikes a more optimistic tone
The Fed just might still be able to engineer the hoped-for "soft landing" but it's not going to be easy, says Fixed Income Analyst Caroline Casavant.
Quick Take
2023-09-30
New rules, new rates: Investing legacy assets under ARPA
Learn how multiemployer pension plans' investment strategies may be affected by final regulations stemming from the American Rescue Plan Act.
Whitepaper
2024-01-31
Why global investors should watch the Bank of Japan
Macro Strategist John Butler explores why global investors should watch the Bank of Japan and what is likely to happen next.
Quick Take
2024-01-31
Monthly Market Snapshot — December 2022
A monthly update on equity, fixed income, currency, and commodity markets.
Whitepaper
2023-03-15
Financial Market Review — Fourth quarter 2022
A quarterly update on equity, fixed income, currency, and commodity markets.
Whitepaper
2023-07-15
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.
Video
2023-12-31
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.
Event replay
2024-02-29
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.
Article
2023-12-31
Spread the risk: Our top three fixed income diversifiers for 2023
Fixed Income Strategist Amar Reganti highlights three types of strategies that may be well positioned to provide fixed income portfolio diversification going forward.
Quick Take
2024-01-31
CLOs: Poised to outperform in 2023?
Collateralized loan obligations (CLOs) have been sparking investor interest lately — and with good reason, say Investment Director Andrew Bayerl and Investment Specialist Celene Klimas.
Quick Take
2024-01-31
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.
Whitepaper
2023-10-03
Can US bank loans “carry” investors through 2023?
Fixed Income Portfolios managers Jeffrey Heuer, CFA and David Marshak and Investment Director Nick Leichtman describe what they see as the most prudent approach to the bank loans asset class in 2023 and why.
Quick Take
2024-01-31
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.
Article
2024-01-31
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.
Article
2024-07-31
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.
Article
2024-01-31
Could Japan face a UK-style pension crisis?
Investment Director Masahiko Loo explores the risks of Japan facing a UK-style pension crisis and identifies fundamental reasons that make Japanese pension funds inherently less vulnerable.
Quick Take
2024-01-31
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.
Whitepaper
2024-01-31
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.
Whitepaper
2024-01-31
Take credit: Our five best credit market ideas for 2023
Fixed Income Strategist Amar Reganti highlights credit market opportunities that he expects to arise over the course of 2023, against a backdrop of slowing growth.
Quick Take
2024-01-31
US recession risk: No longer if, but when and how bad
Portfolio Managers Brij Khurana, Brian Garvey, and Nick Petrucelli believe many observers are underestimating the severity of a potential US recession this year.
Quick Take
2024-01-31
LDI in 2023: Ten questions corporate plan sponsors are asking
Members of our LDI Team address a range of topics that US corporate plans will be thinking about in the coming year, from the investment implications of pension accounting changes to the role of alternatives in a return-seeking portfolio.
Article
2023-12-31
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.
Article
2024-01-31
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.
Article
2023-12-31
Picture this: Our 2023 economic forecast in five charts
We explain the shifts the market is undergoing, analyze the implications for different asset classes, and identify potential risks and opportunities in a series of visuals.
2023-12-31
High yield: Opportunity to pivot in 2023?
Our high-yield bond portfolio managers have a guardedly optimistic outlook on the market and believe security selection will be key to benchmark-relative outperformance in 2023.
Quick Take
2024-01-31
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.
Whitepaper
2023-12-31
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.
Article
2023-12-31
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.
Article
2023-12-31
Monthly Market Snapshot: November 2022
A monthly update on equity, fixed income, currency, and commodity markets.
Continue reading
Whitepaper
2023-02-15
Currency outlook: Nearing the end of USD exceptionalism?
Fixed Income Portfolio Manager Martin Harvey and Investment Communications Manager Jitu Naidu consider the present state of and outlook for the US dollar.
Quick Take
2023-12-31
Pivoting from innovation and growth to stability and value
In a more volatile world, stability may take priority over innovation, and that, explains Multi-Asset Strategist Adam Berger, would tend to favor value stocks over growth stocks.
Quick Take
2023-12-31
The Fed’s unenviable task for 2023
Fixed Income Portfolio Manager Jeremy Forster offers his forward-looking take on the Fed's comments and latest rate hike coming out of its December meeting.
Quick Take
2023-12-31
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.
Article
2023-12-31
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.
Article
2023-11-30
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.
Video
2023-11-30
Hidden in plain sight: Overlooked opportunities in investment-grade credit
Fixed Income Strategist Amar Reganti and Investment Specialist Geoff Austein-Miller highlight some relatively simple, straightforward ways to implement a positive view on high-quality corporate credit.
Quick Take
2023-12-31
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.
Article
2023-12-31
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.
Article
2023-12-31
A new blueprint for US trade: Building a more resilient, sustainable, and competitive economy
Macro Strategist Juhi Dhawan explains how the Biden administration is reshaping US trade policy to reflect today's global realities, including supply-chain challenges, decarbonization, and geopolitical turmoil.
Quick Take
2023-12-31
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.
Video
2023-11-30
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.
Article
2023-12-31
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.
Article
2023-12-31
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.
Article
2023-12-31
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.
Article
2023-12-31
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.
Article
2023-12-31
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.
Article
2023-11-30
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.
Article
2023-12-31
Recession risks and markets: Can we avoid a COVID hangover?
Current earnings forecasts and asset prices suggest overly optimistic expectations for the global economy and markets in 2023, according to Equity Portfolio Manager Dan Pozen.
Quick Take
2023-11-30
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.
Article
2023-11-30
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.
Article
2023-12-31
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.
Article
2023-11-30
Monthly Market Snapshot: October 2022
A monthly update on equity, fixed income, currency, and commodity markets.
Continue reading
Whitepaper
2023-01-15
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.
Article
2023-12-31
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.
Article
2023-12-31
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.
Article
2023-12-31
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.
Article
2023-12-31
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.
Article
2023-12-31
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.
Article
2023-12-31
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.
Podcast
2023-11-30
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.
Whitepaper
2023-11-30
By design and by default: Industry consolidation gathers steam across India
Equity Portfolio Manager Murali Srikantaiai sees increased industry consolidation in India as a largely positive trend from which some equity investors can (and should) seek to benefit.
Quick Take
2023-11-30
Setting ROAs for 2023: A guide for US corporate and public plans
How are pension plans adjusting their ROA assumptions? How do those assumptions line up with our long-term capital market assumptions? Find out in this annual update.
Whitepaper
2023-11-30
Wellington investor survey: inflationary Europe seen as top “problem child” of 2023
In the latest Wellington investor survey, inflationary Europe was seen as the top "problem child" of 2023.
Quick Take
2023-11-30
Key drivers for investors in 2023 and beyond: sustainability, disruptive technology, and alternatives
Head of Asia-Pacific Client Group Scott Geary reflects on the overarching themes from the 2022 Milken Asia Summit and the future of investing.
Article
2023-09-30
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.
Article
2023-12-31
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.
Article
2023-12-31
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.
Article
2023-12-31
Physical climate risks: Implications for investors
Director of Climate Research Chris Goolgasian and Woodwell Climate Scientist Zach Zobel discuss how investors might use climate science as an input for financial decision-making.
Quick Take
2023-04-30
Three tailwinds that could power CLO equity in 2023 and beyond
Three members of our fixed income team argue that the headwinds currently facing CLO equity should give way to improved returns in 2023 and beyond.
Quick Take
2023-11-30
Financial Market Review: Third quarter 2022
A quarterly update on equity, fixed income, currency, and commodity markets.
Continue reading
Whitepaper
2023-04-15
November FOMC meeting: How slow can the Fed go?
Investment Specialist Caroline Casavant shares her takeaways from the November FOMC meeting, including thoughts on the likely pace of further Fed interest-rate hikes.
Quick Take
2023-01-31
Bank of Japan policy shift: Waiting for the other shoe to drop?
Client Portfolio Manager Jitu Naidu and Investment Director Masahiko Loo share their take on the consensus view that Japan has reached several key inflection points.
Quick Take
2023-01-31
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.
Video
2023-12-31
India equity: An unsung long-term performance story
Despite strong long-term performance, Indian equities are often overlooked. That may be a mistake, say Equity Portfolio Manager Niraj Bhagwat and Investment Director Philip Brooks.
Quick Take
2023-10-31
Monthly Market Snapshot: September 2022
A monthly update on equity, fixed income, currency, and commodity markets.
Whitepaper
2022-11-15
Can agency MBS bounce back from dismal performance?
Fixed Income Portfolio Manager Brian Conroy and two colleagues weigh in on the mortgage-backed securities (MBS) market in the wake of a very challenging month.
Quick Take
2023-01-31
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.
Article
2023-12-31
China equity: Is today's investor pessimism overdone?
The short answer is yes, say Equity Portfolio Manager Niraj Bhagwat and Investment Director Philip Brooks, who believe China may offer a short-term buying opportunity.
Quick Take
2023-10-31
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.
Article
2023-12-31
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.
Video
2023-10-31
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.
Whitepaper
2023-10-31
Equity market volatility is perking up: Why now?
The recent uptick in equity volatility may be about looming macro and systemic risks in today's uncertain environment. Director of Global Derivatives Gordy Lawrence explains.
Quick Take
2023-10-31
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.
Article
2022-12-30
Wind at their backs: What the IRA means for clean energy industries
Members of our energy and utilities teams break down the range of impacts of the US Inflation Reduction Act on companies in their sectors.
Article
2023-09-30
Bank loans: Can issuers overcome higher interest expenses?
The short answer, according to Fixed Income Portfolio Managers Jeff Heuer and David Marshak, is that many can. And, they believe bank loans can outperform many other fixed-income sectors over the next 12 months.
Continue reading
Quick Take
2023-01-31
UK in the eye of the storm: which countries might be next?
Macro Strategist John Butler provides his latest take on what's happening in the UK and its broader global implications.
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Article
2022-12-31
Biotech's new frontier
Global Industry Analyst Wen Shi highlights biotech's new frontier, profiling innovations like targeted protein degradation, gene therapy, and much more.
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Video
2023-09-30
Monthly Market Snapshot: August 2022
A monthly update on equity, fixed income, currency, and commodity markets.
Continue reading
Article
2022-11-15
Wanted: A better definition of thematic investing
Multi-Asset Portfolio Manager Brian Garvey and colleague Manny Hunjan believe the prevailing definition of thematic investing is overly narrow and offer a potential solution.
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Article
2023-09-20
The Fed’s “lean, leave, then clean” strategy
US inflation could prove "stickier" than many observers think. How might that influence Fed policy into 2023? Fixed Income Portfolio Manager Jeremy Forster opines.
Continue reading
Quick Take
2022-12-31
The next generation of pharmaceutical innovation
Rebecca Sykes explores the exciting innovations she sees in the pharmaceutical industry today, including antibody drug conjugates, gene editing, obesity treatments, and much more.
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Video
2023-09-30
A lesson in climate resilience: Why China’s recent heat wave wasn’t worse
See why Hong Kong-based Macro Strategist Santiago Millán believes China's investments in climate resilience can be a lesson for the rest of the world.
Continue reading
Article
2023-09-30
India: Growth drivers are in place
Following a recent visit to India, Macro Strategist Tushar Poddar shares his take on the country's changing macro environment and its equity market.
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Quick Take
2023-09-30
Germany: Reducing Russian energy dependence in a hurry
Macro Strategist Juhi Dhawan sees Germany continuing to embrace the transition to renewables while also working to diversify its sources of fossil fuels.
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Quick Take
2022-12-30
Sustainable fixed income: Key terms allocators should know
ESG integration versus sustainable investing: What’s the difference? We explain a few key distinctions that are important for allocators to understand.
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Quick Take
2023-06-30
The Inflation Reduction Act: A big deal for the US economy
US Macro Strategist Juhi Dhawan considers the economic implications of the climate- and energy-related spending provisions in the IRA, including the potential for higher productivity.
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Article
2023-09-30
What does an equity market bottom look like?
Applying a historical analysis to today's market, Multi-Asset Portfolio Manager Nick Petrucelli believes US equities have not yet found a near-term bottom.
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Quick Take
2022-11-30
No more Mr. Nice Guy? Fed Chair Powell talks tough on inflation
Continue reading
Fixed Income Portfolio Manager Brij Khurana offers his latest thoughts on Fed policy following the central bank's recent Jackson Hole meeting.
Quick Take
2023-09-30
US/China relations: What next after Pelosi’s visit to Taiwan?
Geopolitical Strategist Thomas Mucha assesses the escalating tension in US/China relations following US Speaker Nancy Pelosi's visit to Taiwan.
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Quick Take
2022-11-30
Why collective investment trusts are gaining traction within DC plans
Growing interest in CITs within the DC space is being driven by lower fees and other benefits — a trend our DC team expects to continue.
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Article
2023-08-31
Investment takeaways from the latest inflation data
With 2022's structural inflation story still very much intact, now may be a particularly opportune time for investors to add real-asset and inflation-sensitive exposures to their portfolios.
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Quick Take
2022-11-30
Wellington investor survey: Global recession tops investors’ concerns
The latest Wellington investor survey shows that our investment teams are increasingly concerned about the economic cycle, with 45% seeing a global recession over the next 12 months as the most likely outcome.
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Quick Take
2022-11-30
The growing wave of disruption in financial services
Amid today's uncertainty, Portfolio Manager Matt Lipton outlines three key reasons he believes the opportunities fueled by fintech disruption will continue.
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Article
2023-08-31
The shrinking central bank balance sheet: A credit market opportunity
With the shift in central bank policy, heightened volatility and dispersion may yield a promising environment for exploiting credit market inefficiencies.
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Quick Take
2022-11-30
Enhancing corporate sustainability: About our innovative virtual power purchase agreement
Learn about Wellington's groundbreaking renewable energy initiative, projected to match 100% of our US corporate and US employees’ home electricity usage with wind energy.
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Article
2023-08-31
Positioning for a “pricey” recession scenario
Client Portfolio Manager Jitu Naidu and Fixed Income Strategist Amar Reganti offer portfolio positioning ideas for the potential recession scenario that may lie ahead.
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Quick Take
2022-11-30
A shifting macro landscape: QE, China, and Europe
We explore the changing macro environment, highlighting the investment implications of the end of quantitative easing programs, the state of the Chinese cycle, and an evolving outlook on Europe.
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Article
2023-08-31
A Canadian investor’s guide to navigating climate change
Director of Climate Research Chris Goolgasian and Alan Matijas, director of Client Group in Canada, provide relevant climate-related research and insights for Canadian investors.
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Article
2023-08-31
Monthly Market Snapshot: July 2022
A monthly update on equity, fixed income, currency, and commodity markets.
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Article
2022-10-15
Why today’s fixed income market is fertile ground for active management
Skilled active management has potential to shine in times of increased dispersion across fixed income sectors and regions. Now may be one of those times.
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Quick Take
2022-12-31
Emerging local debt markets: Time to wade in?
Fixed Income Portfolio Manager Michael Henry sees positive trends across ELD fundamentals, valuations, and technicals that could be tailwinds for these markets going forward.
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Article
2023-08-31
Reckoning with recession risk: Why this one may be “pricey”
Client Portfolio Manager Jitu Naidu shares his latest take on the looming risk of a global economic recession and related issues.
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Quick Take
2022-11-30
Global convertibles: Unprecedented times call for unconventional solutions
Fixed Income Portfolio Manager Michael Barry and Investment Director Raina Dunkelberger argue that global convertible bonds are well suited to today's uncertain market environment.
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Quick Take
2022-11-30
Fixed income: Relative value opportunities amid growth slowdown
In the face of this year's fixed income market turmoil, Fixed Income Portfolio Manager Rob Burn sees attractive opportunities for investors with longer-term time horizons.
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Quick Take
2022-10-31
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.
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Article
2023-07-31
Fintech industry outlook in a recession
We explore the current environment for the fintech industry and highlight a few factors that show why the outlook for payments and other related subindustries may be less challenging than many may anticipate.
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Quick Take
2023-07-31
Fed rate hikes: A tailwind for bonds?
Global Investment Strategist Nanette Abuhoff Jacobson believes higher-quality, longer-duration bonds may prove resilient even if the Fed keeps raising short-term rates into 2023.
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Quick Take
2022-10-31
US housing: Are the headwinds stronger than the tailwinds?
In the second of a two-part series, Fixed Income Credit Analyst Daniel Kim looks at the downside risks facing the US housing market and concludes that positive structural trends around supply, affordability, and home prices should continue to support the sector.
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Quick Take
2022-10-31
What next for the euro area after the ECB’s historic hike?
Eoin O'Callaghan and Marco Giordano explore the ECB’s likely next steps and the potential future path of inflation and growth in the euro area.
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Article
2023-07-05
July Fed meeting: Rising inflation vs falling growth
After another rate hike, the Fed must balance moderating growth with mounting inflation. Caroline Casavant opines on how the central bank might navigate this dilemma.
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Quick Take
2022-10-31
Financial Market Review: Second quarter 2022
A quarterly update on equity, fixed income, currency, and commodity markets.
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Article
2023-01-15
Mid-2022 ESG & Sustainability Outlook
Our Mid-2022 Sustainability Outlook provides an update on our sustainability efforts, expansion of research into the economic impacts of climate change, ESG integration and stewardship, and impact platform.
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Article
2022-12-31
Monthly Market Snapshot: June 2022
A monthly update on equity, fixed income, currency, and commodity markets.
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Article
2022-09-15
Impact investing: Increasing needs, broadening opportunities
Members of our impact investing team, offer a brief update on our impact platform, which continues to evolve amid an expanding opportunity set in developed and emerging market equities and fixed income.
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Quick Take
2022-12-31
Can credit investors turn the resumption of volatility and cycles to their advantage?
Why the new volatile market regime may offer significantly more opportunities for longer-term global credit strategies.
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Article
2023-07-31
Climate change investing: Research and collaboration continue
Our research into the economic impacts of climate change continues to expand, as does our climate-related engagement and industry-leadership efforts. Members of our Climate Research Team summarize our ongoing progress.
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Quick Take
2022-12-01
US inflation: Supply chains to the rescue?
Macro Strategist Juhi Dhawan shares her inflation outlook, including the prospects for supply-chain normalization, and her views on the market implications.
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Article
2023-07-31
Don’t be surprised if CLO equity surprises to the upside
Members of our fixed income team, including Portfolio Manager Alyssa Irving, believe CLO equity could be poised to outperform many other risk assets over the next few years.
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Quick Take
2022-10-31
Mid-2022 Alternative Investments Outlook
As allocators cope with economic uncertainty and market volatility, Multi-Asset Strategist Cara Lafond explains how alternative investments could potentially play a role in improving portfolio resilience and returns.
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Article
2023-08-31
Credit investing against a slower-growth, higher-inflation backdrop
The significant flattening of the US Treasury yield curve in recent months has some prognosticators calling for an impending US recession. Not so fast, says Fixed Income Portfolio Manager Rob Burn.
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Quick Take
2022-07-31
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.
Podcast
2023-05-31
Mid-2022 Investment Outlook
As you look ahead to the second half of 2022, we invite you to explore unique perspectives from our marketplace of ideas — more than 900 investors strong.
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Collection
2022-12-31
Mid-2022 Global Economic Outlook
We believe heightened geopolitical uncertainty, and the new macro environment of deglobalization, higher inflation, greater global cyclicality and volatility will disrupt and drive markets.
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Article
2023-07-31
Mid-2022 Asset Class Outlook
We offer perspectives on growth and value equities and explore ideas for shoring up your fixed income flank amid the evolving economic and market environment.
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Article
2023-07-31
Sustainable fixed income investing entering the mainstream
This short piece explores the continued rise of sustainable fixed income investing and links to a more in-depth white paper on the topic.
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Quick Take
2022-12-31
US housing: There’s no place like home
While US housing activity is slowing, positive fundamentals and favorable supply/demand dynamics may continue to support the sector.
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Quick Take
2022-10-31
Credit and equity risk back on speaking terms, but will it last?
Following their uncharacteristic rift and recent reconciliation, Director of Wellington’s Global Derivatives Group Gordy Lawrence considers whether equity volatility and credits spreads are likely to remain in harmony.
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Quick Take
2022-10-31
Monthly Market Snapshot: May 2022
A monthly update on equity, fixed income, currency, and commodity markets.
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Article
2022-08-15
Evolving impact investing for better potential outcomes
Our impact portfolio managers provide a snapshot of recent highlights and developments in impact investing.
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Quick Take
2022-09-30
Intermediate credit: A compelling LDI opportunity?
While it has been a painful start to the year for credit investors, Portfolio Manager Connor Fitzgerald sees a structural case for intermediate credit and a potential near-term window of opportunity.
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Article
2023-06-30
Sustainable fixed income investing comes of age
ESG integration and sustainable investing have gained considerable traction in global fixed income markets. Investment Directors Anand Dharan and Meredith Joly and Fixed Income Trader Keenan Choy discuss this ongoing trend and some of its key implications for asset allocators.
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Article
2023-06-30
A transition year for agency MBS?
Following a challenging period for agency MBS, members of our securitized team now see attractive opportunities in the space and believe actively managed strategies may be the best way for many investors to capitalize.
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Quick Take
2022-07-31
Three overlooked opportunities in today’s markets
Portfolio Manager Brian Garvey highlights three large macro dislocations in today's environment that he believes the capital markets have yet to price in.
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Quick Take
2023-06-30
How the Russia/Ukraine conflict has galvanized the West
Geopolitical Strategist Thomas Mucha provides his latest insights on the Russia/Ukraine conflict, particularly with regard to its significant and potentially enduring impact on US/EU relations.
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Quick Take
2022-08-30
Monthly Market Snapshot: April 2022
A monthly update on equity, fixed income, currency, and commodity markets.
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Article
2022-07-15
Timely musings on Fed policy and inflation
With rising inflation and interest rates dominating the financial headlines in recent weeks, I have been fielding a flurry of colleague and client questions about the likely future trajectory of US monetary policy. While I don’t claim to have all the answers, especially with so many “known unknowns” as of this writing, here are my latest thoughts.
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Quick Take
2022-08-30
How the public market correction is affecting the late-stage private equity market
The times they are a-changin’. The late-stage private equity market is digesting a public growth multiple collapse that took us from boom to bust in four months. But while valuations may be coming down in the private market as a result, the opportunity-creating trends of technology disrupting all parts of the economy and companies staying private longer remain in place.
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Quick Take
2022-09-30
US inflation risk, angry bondholders, and silver linings
Here are quick thoughts on some common questions I’ve been asked recently about Fed policy, yields, the US dollar, and financial markets.
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Quick Take
2022-08-31
Is it too soon to call a “top” in US interest rates?
Are we nearing the top of the 10-year treasury rate?
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Quick Take
2023-05-31
Empirical duration: reason for optimism on risk assets?
While rising rates often produce negative bond returns, combining the concept of empirical duration with a positive outlook on the credit cycle may bode well for some fixed income sectors' return prospects going forward. Investment Analyst Will Prenits and Investment Director Tobias Ripka explain.
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Quick Take
2022-07-31
Demystifying decumulation: A practical guide
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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.
Article
2023-04-30
Six reasons India may be on the cusp of a major upcycle
Numerous positive structural and cyclical factors are pointing towards a major economic upcycle in India over the next five to six years, in our view, creating a range of potential investment opportunities. We believe India’s market is supported by an evolving investment universe, powerful demographic trends, increasing urbanisation and rising wealth, export growth, geopolitical tailwinds and a supportive policy regime. These factors are coalescing at a time when the corporate deleveraging cycle of the last few years is coming to an end and a new upcycle in profitability could be beginning.
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Quick Take
2022-12-30
Will Japanese buyers look beyond USD fixed income? They may have to
With the US Federal Reserve’s (Fed’s) interest-rate-hiking cycle now underway, it’s an important time to keep a close eye on non-US buyers of US dollar (USD) fixed income securities.
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Quick Take
2022-07-31
How a diversified approach to climate return opportunities can support decarbonisation goals
Joy Perry and Ken Baumgartner explore how a diversified approach to climate return opportunities can support decarbonisation goals.
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Article
2022-09-30
Financial Market Review: First quarter 2022
A quarterly review of results in the global equity, fixed income, currency, and commodity markets.
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Article
2022-10-15
Helping European investors navigate inflation fears
The recent shift to a higher inflation regime, with resulting expectations of tighter monetary policy and rising interest rates, presents a material challenge for European fixed income investors. Against this backdrop, Investment Analyst Will Prentis and Investment Director Tobias Ripka believe investment flexibility is key.
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Quick Take
2022-07-31
Five reasons to take a closer look at Brazil
I have published my views on Brazil more than once over the past year (most recently in my November 2021 blog post), but the environment there has changed markedly through the first few months of this year, with COVID-related risks seemingly on the wane and the Russia/Ukraine conflict having driven up commodity prices — so I thought now would be an opportune time to share a fresh perspective on South America’s most populous country.
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Quick Take
2022-07-31
Five reasons to take a closer look at Brazil
I have published my views on Brazil more than once over the past year (most recently in my November 2021 blog post), but the environment there has changed markedly through the first few months of this year, with COVID-related risks seemingly on the wane and the Russia/Ukraine conflict having driven up commodity prices — so I thought now would be an opportune time to share a fresh perspective on South America’s most populous country.
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Quick Take
2022-07-31
Monthly Market Snapshot: March 2022
A monthly update on equity, fixed income, currency, and commodity markets.
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Article
2022-06-15
The full climate-investing opportunity
From devastating floods in Australia — tragically, in many of the same areas hit by fires in recent years — to wildfires in Europe and the US, widespread disasters bring into stark reality the consequences today of a changing climate. The human toll of these events has become an unfortunate yet familiar part of the news cycle, but the second-order impacts of climate change on financial markets are sometimes less well understood. Many traditional approaches to climate investing have rightly focused on these risks, but we believe both their approach and their scope are often incomplete and lacking nuance, thereby creating inefficiencies in the climate-investing landscape.
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Quick Take
2023-04-30
Global convertibles: Poised to benefit from five structural tailwinds
Fixed Income Portfolio Manager Michael Barry and Investment Specialist Raina Dunkelberger believe global convertible bonds are likely to outperform other fixed income sectors over an investment time horizon of approximately two to three years. Learn why.
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Quick Take
2022-07-31
Allocating to hybrid strategies: A multiple-choice decision
Multi-Asset Strategist Cara Lafond considers the options available to allocators deciding where hybrid or crossover strategies fit best in their asset mix.
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Article
2023-05-31
Higher inflation, rising rates: Front and center for insurers
With macro and market complications piling up through the first few months of 2022, Insurance Multi-Asset Strategist Tim Antonelli provides his investment implications for global insurers.
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Whitepaper
2022-10-15
Higher inflation, rising rates: Front and center for insurers
With macro and market complications piling up through the first few months of 2022, Insurance Multi-Asset Strategist Tim Antonelli provides his investment implications for global insurers.
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Article
2022-10-15
Addressing the shared financial challenge of climate change
In February, the Intergovernmental Panel on Climate Change (IPCC), a body of the United Nations, released its Sixth Assessment Report, “Impacts, Adaptation and Vulnerability.” While the full report is 3,675 page long, the Technical Summary is just 96 pages and well worth the read. In the Summary alone, climate adaptation is referenced 442 times, versus 60 for climate mitigation.
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Quick Take
2022-07-30
Bank loans: Resiliency amid volatility
In the face of ongoing geopolitical and macroeconomic uncertainty, including the prospect of steadily rising interest rates, our floating-rate bank loan team maintains a bullish outlook for the sector. Emboldened by a strong US economy and mounting inflationary pressures, the US Federal Reserve (Fed) enacted its first 25 basis-point (bp) increase in interest rates since 2018. Additionally, Fed Chair Jerome Powell’s recent rhetoric has become more hawkish, including suggesting the possibility of a 50 bp rate hike in the coming months. The market is now pricing in the fed funds rate to rise to around 2.5% by the end of 2022 (from its current target of 25-50 bps).
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Quick Take
2022-07-31
Global credit: Where do we go from here?
Fixed Income Portfolio Manager Mahmoud El-Shaer explores why 2022 may be a momentous year for global credit and sets out a framework to think through potential investment implications. 2022 promises to be another challenging year for central banks as they attempt to normalise policies in the face of surging inflation, while navigating the growing fallout from Russia’s invasion of Ukraine. Since 2009, there has essentially been one trade in capital markets: riding a huge wave of central bank liquidity in support of the financial system and the economy, with the G4 central banks alone pumping approximately US$20 trillion into the system via quantitative easing (QE).
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Quick Take
2022-07-31
Crypto beyond the hype: Insights for institutional investors
We highlight a few practical insights on cryptocurrencies for institutional investors evaluating the asset class, including our views on custody, regulation, and more.
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Quick Take
2022-12-31
Four potentially powerful tailwinds for the securitized sector
In his latest Top of Mind session, Multi-Asset Strategist Adam Berger addressed a wide range of what-if scenarios on the minds of our clients. See what he has to say on Russia, China, cryptocurrencies, the IPO market, and many other topics in this brief article.
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Quick Take
2022-06-30
China is not Russia: Reasons to stay invested
Equity Portfolio Manager Greg Mattiko challenges investors to look at actions rather than conjecture when considering reduced exposure to China.
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Article
2023-03-31
What does the Ukraine invasion mean for China?
Macro Strategist Santiago Millán argues that the scale and breadth of the sanctions on Russia have increased the uncertainty of investing in China across multiple dimensions. He explores the continued decoupling of China and the West.
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Article
2022-06-30
Stewardship and engagement: 2021 highlights and 2022 goals
Wellington’s long-standing commitment to deep fundamental research and meaningful engagement with investee companies continues to drive positive engagement outcomes that we believe support and enhance long-term investment value for our clients. We are proud of progress we made in 2021 advancing our stewardship priorities, and we have seen many positive outcomes spanning a range of environmental, social, and governance (ESG) issues. We look forward to continued momentum on ESG and to expanding our influence via active ownership in 2022.
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Quick Take
2023-07-31
War and markets: What's the connection?
Amid the geopolitical turmoil and tragic humanitarian fallout of the Russia/Ukraine crisis, many investors are naturally also concerned about the negative effects the escalating conflict could have on their portfolios. With that in mind, I thought I’d provide a quick snapshot of the impacts that past wars have tended to have on asset prices.
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Article
2023-03-31
War in Ukraine: Five observations on recent developments
Macro Strategist Gillian Edgeworth assesses recent developments in the escalating Russia/Ukraine conflict and highlights five key implications.
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Article
2023-03-31
Five key ESG topics for private companies
Members of our private market ESG team highlight the topics they expect will be top of mind in the coming year, from diversity to data privacy to supply-chain issues.
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Video
2022-12-31
2022 Asia Investment Forum: Investment strategy in a shifting world
Three megatrends will transform Asia’s investment landscape over the coming year, concur Wellington’s strategist panel.
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Event replay
2023-03-31
Ten more “what if” scenarios for 2022
In his latest Top of Mind session, Multi-Asset Strategist Adam Berger addressed a wide range of what-if scenarios on the minds of our clients. See what he has to say on Russia, China, cryptocurrencies, the IPO market, and many other topics in this brief article.
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Article
2023-02-28
How will Russia’s invasion of Ukraine transform the euro area? Four potential paths
As the tragedy in Ukraine unfolds, Macro Strategist John Butler assesses possible implications of the conflict for Europe and the euro area. He outlines four potential paths.
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Article
2023-03-31
DC plans: Three timely themes that probably aren’t going away anytime soon
Our DC plan specialists highlight three big-picture investment themes that are not only top of mind for many plan participants in today’s environment, but are also likely to have staying power in the months ahead.
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Article
2023-03-31
Why I’m getting more bullish on biotech
The biotechnology sector, especially SMID-cap biotech equities, suffered a dramatic drawdown in 2021. Investor sentiment toward the sector remains poor, but my outlook has become increasingly bullish as multiple headwinds facing biotech over the past year or so begin to abate and turn into potential tailwinds for 2022 and beyond. Encouragingly, the level of innovation across the industry has never been higher, in my view. I believe many biotech stocks may be nearing a bottom, even though the exact timing of (and catalyst for) a rebound remains unclear as of this writing.
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Quick Take
2022-06-30
Geopolitical observations on Ukraine
Geopolitical Strategist Thomas Mucha integrates his observations with those of his senior-level military, intelligence and diplomatic contacts to offer insights on the potential consequences of Russia’s invasion of Ukraine.
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Article
2023-03-31
Russia/Ukraine and the commodity challenge
With commodity inventories at multi-decade lows, is rising cross-asset class volatility all but inevitable? Leveraging insights from Wellington colleagues, Thematic Strategist Trevor Noren argues that the Russia/Ukraine crisis demonstrates why the answer is likely yes.
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Article
2023-03-31
An inside look at today’s municipal market
After a year in which municipal bonds posted respectable returns (Figure 1), many clients have been seeking forward-looking guidance on the market as a whole and (increasingly) on particular sectors of it. Here are my latest thoughts as of this writing on the outlook for the rest of 2022.
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Quick Take
2022-05-31
How might equity sectors fare when Fed tightening begins?
We look back at how US equities have performed in the months following the beginning of a tightening cycle, as well as how bond yields have tended to behave.
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Quick Take
2022-05-31
China in 2022: Embracing the volatility
China’s new antitrust, data privacy and cybersecurity regulations, combined with its education and real estate industry reforms, the continued impact of COVID-19 and rising geopolitical tensions, drove a tumultuous investment environment last year. The country’s numerous headline-grabbing changes spurred global concern given the philosophical shift towards “Common Prosperity” and the sheer scale and speed of policymaking.
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Quick Take
2022-08-31
EM local debt: Forgotten but not forsaken
The emerging markets (EM) local debt sector (as measured by the JP Morgan Government Bond Index – Emerging Markets Global Diversified) just posted its worst calendar-year performance since 2013, returning -8.75% against the headwind of higher EM local interest rates. The underlying culprit? EM inflation surprised to the upside in 2021, forcing a number of EM central banks to raise their policy interest rates in an effort to curb the impact.
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Quick Take
2022-09-30
Navigating a new tomorrow
In this video, Wellington investment professionals and prominent guests articulate the structural risks and opportunities that we believe will shape tomorrow’s investment strategies, ranging from medical innovation spurred by the global pandemic to technological breakthroughs, and ideas aimed at curbing or mitigating climate risk.
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Event replay
2023-01-31
Commodities in 2022: Opportunities amid inflation
Inflation is quickly becoming top of mind for many as everything from ice cream to cars gets more expensive. Investors are beginning to recognize that we’re experiencing the highest inflation levels in 40 years. In our view, we may be entering a market that could be quite favorable for inflation-hedging assets broadly and commodities, in particular. Critically, this environment is coming on the heels of a decade or more of institutions deallocating from inflation-sensitive areas.
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Quick Take
2022-08-31
Amid heightened regulation and geopolitical tension, is China still investable?
Recent regulatory announcements have sent shivers through a wide swath of China’s economy, including the technology, finance, gaming, and property sectors, and tensions between China and the US continue to simmer. But while I understand the market’s reaction to these risks, I take a long-term perspective on China’s investability.
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Quick Take
2022-05-31
Regime change likely to challenge modern market structures
Recently, I wrote about the rotation from growth to value and why some of my colleagues and I expect volatility, more than a smooth transition of leadership, to define markets. The thesis is rooted in the fact that seismic macro questions loom over markets and are likely to trigger violent fluctuations in investor conviction. Earlier this month, Macro Strategist John Butler dissected one of these questions: Will the negative correlation between stocks and bonds turn positive?
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Quick Take
2022-05-31
Credit and equity performance around Fed hiking cycles
One of the discussion topics du jour is how the credit and equity markets might react to the US Federal Reserve (Fed) interest-rate hikes that are widely anticipated in the coming months. As is often the case with me, I find it helpful here to refer to past hiking regimes and market performances as a sort of guidepost.
The proof’s in the pudding
To wit, I examined the historical returns of both US credit (for this purpose, proxied by corporate high-yield bonds) and US equities (represented by the S&P 500 Index) during the six months before the first rate increase of a Fed hiking cycle through the 12 months after said increase.
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Quick Take
2022-05-31
Evaluating cryptocurrencies as an asset class
We explore cryptoassets’ potential as an asset class as the topic dominates the headlines.
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Article
2023-02-28
Can Ukraine’s economy withstand another conflict with Russia?
Macro Strategist Gillian Edgeworth assesses Ukraine’s outlook in the face of renewed conflict with Russia and finds that under most scenarios Ukraine's macro-economic prospects may be less negative than perhaps is assumed.
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2023-02-28
Fixed income: Turn to nontraditional sectors for greater return potential in 2022
As discussed in our 2022 credit sector outlook piece, Break with tradition in 2022, we see opportunities in a few nontraditional credit sectors that stand out to us as having a higher probability of generating excess returns in the months ahead.
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Quick Take
2022-04-30
Ukraine crisis: Understanding the broader picture
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The tense Ukraine crisis has brought the US-Russia standoff to a head: Now what? Geopolitical Strategist Thomas Mucha argues this is all part of a global geopolitical pattern — “great-power” competition — that makes the Russian threat particularly dangerous.
2023-02-28
The critically important national security implications of biotech
Deepening US policy risks in the biotechnology sector have garnered some well-deserved attention from many of my colleagues lately. Given biotechnology’s potential future importance to US policymakers in the context of the ongoing US-China “great-power” competition, I’d like to share my own thoughts on what’s driving the rising geopolitical risk and national security concerns.
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Quick Take
2022-04-30
Ukraine crisis: Understanding the broader picture
The tense Ukraine crisis has brought the US-Russia standoff to a head: Now what? Geopolitical Strategist Thomas Mucha argues this is all part of a global geopolitical pattern — “great-power” competition — that makes the Russian threat particularly dangerous. Read more.
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Article
2023-02-28
2021 Responsible Investor USA conference: Climate investor spotlight
In this event replay from the 2021 Responsible Investor USA conference, Portfolio Manager Alan Hsu discusses how you can dynamically build a portfolio of stocks for a pragmatic net zero CO2 strategy.
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Event replay
2023-01-31
Hedging climate risk: The best defense is a good offense
Climate risks have the potential to create a long-term return drag on investment portfolios. We suggest a straightforward approach to hedging the deleterious effects of climate change.
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Article
2023-02-28
Monthly Market Snapshot: January 2022
A monthly update on equity, fixed income, currency, and commodity markets.
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Article
2022-07-15
Euro area: Challenging long-held assumptions
We believe 2022 will be the year when macroeconomic and political developments challenge two deep-rooted misperceptions about the euro area:
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Quick Take
2022-04-30
The latest market sell-off: Regime change in the making?
What a difference a few weeks can make in the equity market! The sharp, swift sell-off through the first month of this year is raising some difficult questions for investors, chiefly: Are we just witnessing a long-overdue short-term correction in the more speculative areas of the market, or perhaps something more fundamental (and enduring) that could portend a broader unwinding of equity risk?
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Quick Take
2022-03-31
Playing inflation defense with fixed income in 2022
For fixed income investors who are worried about the double threat of higher inflation and rising rates, there are strategies that may help insulate a bond portfolio. Fixed Income Investment Director Amar Reganti and Investment Specialist Jonathan Tan offer up some suggestions.
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Quick Take
2022-02-28
Value versus growth: expect volatility more than a smooth transition of leadership
Even if a "growth to value" regime change is underway, investors should expect volatility more than a smooth transition of leadership. Thematic Strategist Trevor Noren shares his perspective and those of several Wellington colleagues.
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2023-01-01
Monthly Market Snapshot: December 2021
A monthly update on equity, fixed income, currency, and commodity markets.
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Article
2022-07-15
Decarbonization and the energy transition: The next supercycle
The low-carbon transition could be the biggest capital cycle of our lifetime, fueled by massive spending and extensive infrastructure development. We break down the investment implications.
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Article
2022-12-31
Financial Market Review: Fourth quarter 2021
A quarterly review of results in the global equity, fixed income, currency, and commodity markets.
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Article
2022-07-15
Annual letter from our CEO: Embracing change
In a fast-changing world, CEO Jean Hynes discusses some of the strategic initiatives our firm has undertaken to ensure that we’re aligned with and ready to support our clients’ goals for years to come.
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Article
2023-01-01
2022 Alternative Investment Outlook
Our 2022 Alternative Investment Outlook looks at 5 areas of focus for the coming year and explores private equity markets and ESG opportunities.
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Article
2022-12-31
Ten essential climate questions for private companies
We explore how climate change impacts private companies and share the top questions for companies to be prepared to address as this issue grows.
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Quick Take
2022-06-30
Why COP26 was (probably) more constructive than headlines suggest
From better targets to methane to financial commitments, a climate investor shares his views on the lasting positive outcomes likely to emerge from the recent global conference on climate change.
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Quick Take
2022-07-31
Quality-growth investing amid inflation and rising rates
We discuss how today's market impacts growth companies, including which areas are well positioned for the year ahead.
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2022-12-01
Fed watch 2022: Year of the hawk?
With inflation on the rise and all eyes seemingly on the Fed these days, Fixed Income Portfolio Manager Jeremy Forster shares his takeaways from the Federal Open Market Committee (FOMC)'s December 2021 meeting.
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Quick Take
2022-07-29
2022 Fixed Income Outlook
Our fixed income outlook for 2022, examines our views on inflation and interest rates and the role central banks will play in the coming year.
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Article
2022-11-15
Blast from the past: Are we watching the return of 1970s-style stagflation?
How worried should investors be about the risk of stagflation? Portfolio Manager Nick Petrucelli offers his take, digging into previous occurrences for clues about the causes that may be most relevant today and outlining the potential outcomes and capital market implications.
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Article
2022-12-31
When public and private equity converge: An allocator’s guide
Multi-Asset Strategist Cara Lafond believes the time has come to recalibrate private equity portfolios to keep up with the evolution of the equity ecosystem. She offers a case for a more holistic view of public and private allocations, a fresh look at how allocators access growth, and the use of private and crossover strategies in innovative sectors.
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Article
2022-12-30
Quality-growth investing amid inflation and rising rates
We discuss how today’s market impacts growth companies, including which areas are well positioned for the year ahead.
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2022-12-31
2022 Equity Outlook
Our 2022 Equity Outlook explores opportunities in equity income and emerging markets, along with trends in health care and technology for the coming year
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2023-01-27
2022 ESG & Sustainability Outlook
Our 2022 ESG & Sustainability Outlook previews our climate research and engagement approach for the coming year and offers investment strategy considerations.
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2022-12-01
2022 Climate Change Investing Outlook
As the effects of climate change become more difficult to ignore, we suggest focusing on adaptation, mitigation, & engagement for 2022 climate investing plans.
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2022-12-31
2022 Climate Change Investing Outlook
As the effects of climate change become more difficult to ignore, we suggest focusing on adaptation, mitigation, & engagement for 2022 climate investing plans.
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Article
2022-12-31
Three transition year themes — inflation, capital, ESG
Insurance Multi-Asset Strategist Tim Antonelli believes 2022 could be a year of transition for the global insurance industry, with the three big themes of inflation, capital, and ESG likely to play prominent roles in many insurers’ strategic planning and decisions.
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Whitepaper
2022-12-01
2022 Climate Change Investing Outlook
As the effects of climate change become more difficult to ignore, we suggest focusing on adaptation, mitigation, & engagement for 2022 climate investing plans.
Continue reading
Article
2022-12-31
The fish are biting: Exploiting Japan’s inefficient equity market
Our Japanese equity team has shown Japan to be one of the world’s most inefficient markets, making it a good “fishing pond” for alpha-seeking active managers who do their homework and apply a strong investment process.
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Quick Take
2021-12-31
Countering climate risks through collaboration
Global Industry Analyst Alan Hsu and Dr. Philip Duffy of Woodwell Climate Research Center discuss the importance of close cooperation between investors and climate scientists when addressing climate action.
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Podcast
2022-10-31
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.
Whitepaper
2024-02-29
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.
Article
2024-10-31
Financials and fintech
The fintech revolution is just beginning. Explore the full potential of fintech innovation across public and private markets.
Collection
2024-12-31
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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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