Asia Quarterly Bulletin – Spring 2021

people on shopping street

In this issue we explore the Regional Comprehensive Economic Partnership, what Biden might mean for Asia and much more.

Asset allocation update: standing pat

Globe

Maya Bhandari looks at how the team has managed its asset allocations over the past couple of months and where they believe the best risk-adjusted returns will come from.

Lessons from the backyard on fiscal policy

Getting the balance correct between short-term relief checks and long-term infrastructure spending is critical.

Asset Allocation Update – March 2021

Globe

At the end of last year, I reflected that you “gotta have faith in low discount rates” for risk assets, such as equities, to continue to perform well in 2021.

2021: gotta have faith – in low discount rates

It’s been a tumultuous 2020, but the year ahead will be different and we are positioning ourselves to get the best risk-adjusted returns over the next 12-18 months.

Video: 2021 investment outlook

Global

Mark King, Head of Content for EMEA, is joined by a panel of our leading investors to talk about the outlook for economies and markets, as well as the themes, trends and events they expect to see in 2021. Featuring: William Davies, Chief Investment Officer EMEA and Global Head of Equities; Neil Robson, Head of Global Equities; Maya Bhandari, Multi-Asset Portfolio Manager; and Alasdair Ross, Head of Investment Grade credit.

What the US election means for markets… and what it doesn’t!

The election cycle will increase short-term volatility, but we don’t believe it will have much influence on market averages over the long term.

Summer slumber soothes markets

Global map

Our fixed income team provide their weekly snapshot of market events.

Covid-19 – estimating the impact of market disorder on asset prices

Covid-19 - estimating the impact of market disorder on asset prices

Asset prices contain enormous amounts of information. This information is typically characterised as being both forward-looking and related to the economy – money-weighted investor expectations about future company earnings, defaults, inflation, monetary and fiscal policy. And, in our opinion, this is almost right. Asset prices consist largely of forward-looking expectations, but they also contain information about the current state of the financial system itself.

Tracking the pandemic – the challenges of interpreting fast-changing data

Tracking the pandemic the challenges of interpreting fast data

“The Covid-19 pandemic is generating huge quantities of case count data as the
disease advances around the world. We have seen countries and regions that were hit earliest move through the initial peak and into a period of declining incidence, while those affected more recently are still recording rapid rises in infections and fatalities. But the data raises as many questions as it answers.”