- Global Investment Views - April 2018
Global Investment Views - April 2018
Thursday 29 March 2018
Research / Market
Global Investment Views - April 2018 - CIO Views
Stay on course, despite looming noise
While still benefitting from a global synchronised growth outlook (likely peaking), financial markets are getting nervous, experiencing the fatigue of a more mature phase with new sources of volatility arising. For the future, it will be key to anticipate how the exit of Central Banks (CB) from unconventional policies will unfold, while talks about protectionist policies start to intensity and we enter a phase of “slowing economic acceleration”, with growth above potential in most Developed Markets (DM), but decelerating in 2019.
The living wage: towards better industry practices
"The concept of living wage goes back to the early twentieth century, with the creation of the International Labour Organization (ILO) in 1919. Subsequently, this concept was taken up several times in texts that played a structural role in labour law (Universal Declaration of Human Rights, Tripartite Declaration of Principles concerning Multinational Enterprises and Social Policy, and the ILO Declaration on Social Justice for a Fair Globalization)."
Systematic Longevity Risk: To Bear or to Insure?
"We compare two contracts for managing systematic longevity risk in retirement: a collective arrangement that distributes the risk among participants, and a market-provided annuity contract. We evaluate the contracts’ appeal with respect to the retiree’s welfare, and the viability of the market solution through the financial reward to the annuity provider’s equityholders ..."
CIO Insights - Key investment convictions for the short and long term
"Long-term investing is about the belief that fundamental value exists and that asset class returns tend to mean revert to their equilibrium level and rotate around it, within regimes."