In-depth, expert analysis on the changing landscape of investments around the world. Leading asset managers reports uncover trends, highlight changes and consider future strategic impact.
TIAA - Investing in Education
Investments in student housing can offer diversification, strong current income and the potential for long-term growth.
Date added: 30-09-2016
Sector: Real Estate
TIAA - Commercial real estate and farmland are compatible diversifiers
U.S. commercial property and farmland are real assets that offer diversification for stock-bond portfolios. But their diversifying power is driven by different forces making them diversifiers for each other as well. Property is largely driven by domestic forces while farmland is influenced by global markets largely denominated in dollars.
Date added: 21-09-2016
Sector: Real Assets
TIAA-CREF - 2016 Economic and Investment Outlook: Modest global growth and market returns
- Diverging monetary policy reflects varying rates of economic growth, with the Fed tightening as central banks in Europe and Asia ease further.
- U.S. inflation will rise, but probably not by as much as the Fed thinks. For that reason, our base case calls for three interest-rate hikes in 2016, one fewer than the Fed projects.
- Growth and a gradual return to normalized U.S. interest rates should drive demand for dollar-denominated assets, but we do not foresee a repeat of 2015’s sharp dollar appreciation.
- Low valuations and improved corporate earnings trends should help European equities outperform U.S. shares. Identifying compelling opportunities in emerging-market equities will require selectivity and a degree of caution.
- We expect modestly positive returns for U.S. investment-grade fixed income, while high-yield bonds may be choppy, despite the firming economy and a potential trough in oil and commodity prices
Date added: 19-01-2016
Sector: Global Equities
TIAA - Revised 2016 Economic Forecast: Despite slowdown, a recession is not imminent
- There are two different lenses through which to view the recent slowdown in the U.S. economy: one emphasizes real growth, while the other highlights nominal growth.
- Economists—and the Fed—typically focus on real growth because it reflects the true level of underlying demand in the economy. From the Fed’s perspective, we should begin to see a marked increase in wages and inflation this year, factors supporting a stronger pickup in real economic activity.
- The nominal view, which is how the markets perceive the economy, is currently more pessimistic. Nominal GDP growth could fall below 2% this summer, and subtracting inflation from that level would necessarily result in weaker real growth.
- These two contrasting views cannot be reconciled; either one or the other is correct, but not both. Over the next few months, we will know which one, based on the direction of unemployment and inflation, as well as other key indicators.
- While we do not foresee an imminent recession, there is enough evidence to lower our forecast for 2016 average GDP growth from 2.6% to 2.0%.
Date added: 01-01-2016
Sector: US Equities