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LA Forum publications provide a comprehensive overview of the end to end research and investment process across a range of asset classes. Our aim is to help our members understand complex problems and plan efficiently.
Written and published for Local Authority officers, these thought provoking documents highlight investment issues, available options and trends in key areas of the UK's public sector pension scheme space.
Targeting investment officers, policy makers, industry specialists, and the pensions board in order to promote debate and understanding. It is not intended for use directly in either market forecasting or for investment decision purposes, where specialist advice should be sought.
Please note: some of the media sources, publications or articles featured on LA Forum may require registration to gain access.
Interested parties should contact Mark Turnbull (Director: LA Forum) T: 01260 226610 E: mark@laforum.co.uk
bfinance's 2018 Asset Owner Survey is the firm's largest investor research study to date. It provides invaluable insights into some of the key challenges faced by asset owners around the world. Key themes examined include: entering new asset classes; improving diversification; active, passive and smart beta; ESG in practice; the rise of specialist consultants, and more.
Date added: 11-01-2019
At 322 pages, this document from S&P Global Ratings is detailed. It's a collection of several reports that delve into key trends expected this year in both the corporate and infrastructure industries globally.
Date added: 08-01-2019
Welcome to the June edition of Inview: Global House View. In this publication we consider significant developments in the world’s markets, and discuss our key convictions and themes for the coming months.
Date added: 04-07-2017
In this updated edition of Indepth, Daniel Murray, Deputy CIO and Global Head of Research, EFG, examines the aftermath of the UK’s snap general election, which confounded the pollsters as the young turned out to vote.
Date added: 04-07-2017
In this edition of Indepth, Daniel Murray, Deputy CIO and Global Head of Research, EFG, examines the UK’s snap general election on 8 June – the background, the polls and what the outcome could mean for the markets.
Date added: 04-07-2017
The recurrent concern of many, that the developed world will tip back into recession, will prove wrong again in 2017 in our view. Indeed, we think that average gross domestic product (GDP) growth across the main developed (OECD) economies will be just over 2%, compared to just under 2% in 2016.
Date added: 04-07-2017
Expectations of more reflationary policies around the world have so far run ahead of actual events. Hard data show a relatively tranquil global economy, with reasonable real growth and low inflation.
Date added: 04-07-2017
Over the past several years, a worldwide consensus has emerged on the need for a more socially-inclusive approach to generating economic growth. However, inclusive growth and development remain primarily an aspiration. No systemic framework has emerged to guide policy and practice.
Date added: 17-01-2017
This comprehensive paper by Willis Towers Watson provides invaluable insights into the financial state of the largest 300 pension funds in the world. Total assets fell by over 3% in 2015 to a sum of US$14.8 trillion. Despite this first drop in assets, cumulative asset growth since then is almost 19%.
Date added: 21-09-2016
The Pension Fund Indicators (PFI) 2016 is an annual publication produced by UBS AM with an enduring aim of putting current topics in their long-term context. As an industry-standard text on pension fund investment we hope that you will find it a useful source of data and practical explanations.
Date added: 21-09-2016
Welcome to the September/October edition of Inview: Global House View. In this publication we consider significant developments in the world’s markets, and discuss our key convictions and themes for the coming months.
Date added: 20-09-2016
The concerns raised in the UK Brexit vote – sovereignty, globalisation and migration – reverberate around the world. Dealing with these challenges is a global, not just an EU, issue.
Date added: 20-09-2016
In a month’s time - on 23rd June - the UK will hold a referendum to determine whether or not the country remains part of the European Union (EU). The vote is of international significance because the consequences of a vote to leave would have global ramifications. Amongst other things it would call into question the future of the EU. In this latest Indepth research note, EFG’s Chief Economist Daniel Murray discusses the costs and benefits of EU membership and the market implications of a vote to remain.
Date added: 02-06-2016
Moving into part 3 of the Critical Insights series, we now take a look at the economic and geo-political trends that are shaping the global economy, and influencing financial markets. Having already revealed in parts 1 and 2 how evolving global demographics and shifting patterns in consumption are shaping a new global supply chain, we now turn our attention to the impact of economic and wider political policy for investors today.
Week 3, Economic Policy: Within this report we look at the real drivers behind current economic policy such as quantitative easing and interest rate suppression, and how these will impact investment portfolios in 2016. An insight into the changing behaviour of the global population, and how future demand for goods and services will be most prevalent in a small number of niche sectors and markets.
Date added: 26-02-2016
In this series of 8 short reports – delivered weekly – we identify, analyze and interpret the most important developing trends in key fundamentals that are shaping the future of investing. In an economic climate beset by low growth, volatility and low interest rates, investors must look elsewhere to grow wealth sufficiently to provide an adequate retirement, and to protect and preserve it for the next generation. In this series we cover:
Week 1, Demographics: How the changing size, shape and demographic profile of the global population is impacting the economy, robbing traditional assets of long term returns, and shifting value and growth to other alternative asset classes.
Date added: 19-02-2016
In this series of 8 short reports – delivered weekly – we identify, analyze and interpret the most important developing trends in key fundamentals that are shaping the future of investing. In an economic climate beset by low growth, volatility and low interest rates, investors must look elsewhere to grow wealth sufficiently to provide an adequate retirement, and to protect and preserve it for the next generation. In this series we cover:
Week 2, Socio Economics: An insight into the changing behaviour of the glob al population, and how future demand for goods and services will be most prevalent in a small number of niche sectors and markets.
Date added: 19-02-2016
Our last letter discussed the possibility of a minor rise in interest rates. We concluded that it was hardly worth worrying about, because any lift would be small and gradual. The market had plenty of other things to worry about and rates seemed low on the list. We suggested that near zero rates were having an impact counter to the original intent of the Federal Reserve (Fed).1 The necessary zero interest rate policy of 2008–2013 was now harming savers and pension funds, both of which needed much higher returns to avoid financial stress. The ultra-low rates have affected spending by individuals and have created fiscal problems for municipalities trying to meet pension obligations. There are also warnings about bubbles in art and real estate because of the ultra-low rates, which made leveraged borrowing too easy.
Date added: 11-12-2015
Fixed-income markets have gyrated wildly this year, constantly shifting from pessimism to optimism and back. Early in the year, plunging oil prices and fears of European recession pushed German bund3 rates to near 0%, while 10-year US Treasury yields hit 1.6%. Then optimism returned with the spring, as growth sentiment about the US and Europe improved, oil prices stabilized in the $60s, stock prices rebounded and so did bond yields. During the summer, expectations of global growth dropped sharply, driven by fears of a pronounced slowdown in China, and knock-on fears for the emerging market (EM)4 sector as a whole. All this led to the most brutal performance for spread sectors5 since the euro crisis of 2011.
Date added: 11-12-2015
Gone are the days when investors could satisfy their income needs with low-risk investments, like government bonds. The extraordinary intervention by central banks in the aftermath of the financial crisis has left behind an ultra-low rate environment, making it more difficult to meet income needs.
Date added: 11-12-2015
Information about the investment choices of insurance companies, self-administered pension funds, investment trusts, unit trusts and property unit trusts. This release contains quarterly net investment data arising from financial transactions (investments and disinvestments) made by these institutional groups. Also included are quarterly balance sheet data for short-term assets and liabilities, along with quarterly income and expenditure data for insurance companies and self-administered pension funds. All data are reported at current prices (effects of price changes included).
Date added: 27-10-2015
Review of the worlds largest 300 pension funds.
This research shows that the world’s top 300 pension funds now represent around 43% of global pension assets
Total assets of the world’s largest 300 pension funds grew by over 3% in 2014 (compared to around 6% in 2013)
By individual region North America had the highest five-year combined compound growth rate of around 8%
Date added: 06-10-2015
Breaking the Tragedy of the Horizon - climate change and financial stability.
Speech given by:
Mark Carney
Governor of the Bank of England
Chairman of the Financial Stability Board
Lloyd’s of London
29 September 2015
Date added: 06-10-2015