2023 Symphony for a new dawn
The Candriam Outlook is back: 22 papers covering all our investment expertise will be produced and displayed all throughout the month of December, in an Advent calendar format.
Latest insights
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ESG, Facial Recognition, Sophie Deleuze, SRIFacial recognition and human rights: Research Paper
It is estimated that one billion surveillance cameras are in operation[i]. The United Nations Guiding Principles on Business and Human Rights (UNGPs) urge companies to respect human rights and correct abuses when they occur. They call on companies to conduct human rights due diligence to “know and show” they respect human rights through their own activities, and the activities directly linked to their products, services, operations, and through their business relationships. -
Asset Allocation, Macro, Nadège Dufossé, Thibaud Marie-Regnault, VideoOverloaded by the sheer number of forecasts at the moment?
Despite this wealth of information – or perhaps because of too much information? – maybe you are still uncertain. We can help you organize and develop your views, in a 20-minute video. Our economists and strategists will try to clarify the economic and financial risks.
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Fixed Income, Monthly Coffee BreakMixed picture
October offered a mixed picture following a bruising first three quarters. The Bloomberg Global Aggregate Index was down 0.55%, driven primarily by losses in US Treasuries. However, investors in some segments of the credit markets, especially EUR HY, USD HY and to a lesser extent EUR IG did see positive performance. Most Inflation-Linked Bonds markets with the exception of the US also rallied on persistently high inflation. -
Absolute Return, Monthly Coffee BreakRelief rally heading into year-end
Although the economy continues to decelerate, equities staged a strong rebound during the month of October. -
Asset Allocation, Monthly Coffee BreakFundamental support for our constructive view
In October, we turned more constructive based on our analysis of the market configuration. This month, fundamental support provides further reasons to maintain this stance. -
Equities, Monthly Coffee BreakRecession on the horizon
European equities have rebounded over the past four weeks. The rebound was mainly driven by value stocks that have outperformed growth stocks since the last Equity Committee.
Popular Right Now
ESG, Kroum Sourov, Sovereign Sustainability, Research Paper, Wim Van Hyfte
Sustainability in the age of the grey swan
Grey swan is an event that is possible and known, potentially extremely significant but considered not very likely to happen.
Fixed Income, Richard Briggs, Sovereign Sustainability
Lula’s Amazon stance appeals but will he deliver on the economy?
Luiz Inacio Lula da Silva narrowly won the second round of Brazil’s election, beating incumbent Jair Bolsonaro. Initial fears that Bolsonaro wouldn’t accept the result, particularly if it was tight, have receded. Bolsonaro said that he would follow the constitution and play by the rules, while his chief of staff, acknowledged the defeat.
Fixed Income, Nicolas Forest
Budget, monetary policy... The match is on!
It is rather unusual for a President of the French Republic to openly criticise European monetary policy. A guardian of monetary orthodoxy, the European Central Bank’s (ECB) mandate is well known by all: to keep inflation close to 2%, regardless of budgetary policy.
Addressing Inflation Risk: What can Pension Schemes Do?
In 2022, inflation and interest rates have hit their 40-year highs. Everyone is affected but pension holders are among the most vulnerable. While pension benefits increase with inflation, they often lag the rise in prices of goods and services – making the cost of living increasingly unaffordable.
ESG, SRI
Investors can positively influence the climate crisis
Every day we are reminded of the sweeping impact of climate change. As a responsible investor, we have a key role to play in financing the transition towards a low-carbon economy ….we have a role in financing a transition that takes place in a just and equal way … and we can help control climate change.
Fixed Income, Nicolas Forest
Global Sovereign Bond Yield - Catch them while you can!
Recent rises in inflation -- to levels not seen in decades -- have negatively affected returns across most asset classes. Rate rises have been some of the steepest seen in many decades. In the current environment, as we move further into resolute central bank tightening, we may see a considerable cooling down in global economies.
Equities, Geoffroy Goenen
European markets or the three-step waltz
Since the beginning of the year, the European market – like its peers - has suffered a severe correction. Market participants are watching out for the low point, the green light that will allow the market to reposition itself for the long term.
SRI, ESG, Montreal Carbon Pledge
Montreal Carbon Pledge – Candriam discloses its carbon footprint
Candriam’s evaluation of its portfolios’ carbon footprint takes into account scopes 1 and 2 of the greenhouse gas (GHG) emissions of the different private issuers included in the SRI funds and their benchmark indices.
Absolute Return, Asset Allocation, Johann Mauchand, Research Paper, Steeve Brument
Smile! CTA convexity is not lost…
If the smile measures how the portfolio value reacts to changes in the underlying markets, then maybe we should measure the smiles – and this is what our investment team has been doing.
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Circular Economy, David Czupryna, ESG, SRI, Research PaperInvesting in the Circular Economy. We are all plastic now.
Perhaps like us, you are a bit frightened about all the news stories and the statistics – the plastic ‘eighth continent’ in the Pacific Ocean, using our natural resources more rapidly than they can be replaced. -
Asset Allocation, Olivier Clapt, Research PaperIlliquid investments – But how much?
As 2022 opened, we all thought of Covid, war, oil prices, transient inflation... What do you see on the horizon now? Wheat supply crisis? Quantitative tightening? Sustained inflation?
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