Category: MULTI ASSET

HOW MUCH SHOULD PORTFOLIOS ADAPT OVER TIME?

17/10/2023

Markets don't stand still. Should portfolios?
We explore two apparently opposing schools of thought.
Read the full article in FT Adviser

the lure of cash

27/7/2023

In the ultra-low interest rate era that followed the financial crisis, there was little incentive to allocate to cash
But should the promise of a now-meaningful risk-free return prompt investors to switch away from equities?
Click here to read the full article: https://www.ftadviser.com/opinion/2023/07/27/the-lure-of-cash

PROPERTY: RETHINK & BE READY

2/6/2023

[5 min read, open as pdf]

Property is a traditional Alternative Asset diversifier
Performance has suffered on slowing growth and rising rates
Consideration of geography, fund format and liquidity is key

US DEBT CEILING CRISIS

19/5/2023

[1 min read, open as pdf]

Small, but concerning, chance that the US defaults on its debts
Debt ceiling is a cap on government borrowing
A US default would create a severe financial shock, so politicians on both sides should ensure its resolved in time

The full version of this article is available to our Clients.

putting cash to work with money market funds

17/4/2023

Higher interest rates following increases in the Bank of England “Bank Rate” means yieldson cash are attractive once again. There are different ways to access cash yields: bank deposits, platform cash and moneymarket funds each have advantages and disadvantages. Minimising frictional costs, and maximising flexibility is key when developing a cashmanagement strategy, in our view.
In this research note for our clients, we explore the role of money market funds in providing a low risk platform-based Investment with a yield similar to Bank of England rates.
Further reading:
Read our October 2021 comparison of money market funds and fixed time deposits

ACTIVE vs PASSIVE: 2022 RESULTS

14/4/2023

[5 min read, open as pdf]

Active managers mainly underperform benchmarks in 2022
Fail to take advantage of dispersion, but UK small caps a bright spot
Persistency remains a challenge

SECTOR INVESTING: an alternative approach to alpha generation

30/3/2023

Read the Citywire article

CoCO BONDS: ARE YOU EXPOSED?

23/3/2023

Read the Citywire article

Tracking the tremors

21/3/2023

[3 min read - open as pdf]

Banking sector problems are firm-specific
Higher rates and stickier inflation are biting
Financial conditions are tightening

SVB and US REGIONAL BANKS

14/3/2023

[5 min read, open as pdf]

SVB collapse triggers memories of the 2008 financial crisis
US Fed and government acts to restore faith in the banking system
Markets remain volatile but no indications of contagion

LIQUID REAL ASSETS: FOR INFLATION DIVERSIFICATION

28/2/2023

[5 min read, open as pdf]

Our Liquid Real Assets Index strategy delivered on its objectives
Provides access to assets positively correlated with inflation
For a risk-constrained liquid approach to real asset diversification

DRY JANUARY, STICKY INFLATION

24/2/2023

[5 min read, open as pdf]

January inflation numbers for the UK and the US diverge
Fed and BoE continue to be hawkish on rate path
Inflationary pressure remains sticky

PRIVATE MARKETS: ASSETS, FEES & INTEREST RATES

24/2/2023

[5 min read, open as pdf]

Private Market Managers’ valuations hit in 2022 on rising rates
Sustained asset growth to 2030E supports positive outlook
Highly sensitive to US interest rate expectations

FTSE past 8,000 reflects strong global sectors, not the UK economy

17/2/2023

[5 min read, open as pdf]

The FTSE 100, broke through 8,000 for the first time
This is good news for investors…
…but the index is less related to the UK economy

Citywire: Headache for multi-asset investors as gilt fund risk ratings rise

13/2/2023

Read the article

Bonds are getting interesting

3/2/2023

[5 min read, open as pdf]

2022 was a year of dislocation for Bonds
Rates are peaking and inflation is past-the-peak
This means Bonds are getting interesting once again

We explore this further in our CPD webinar: "Investing for Income".

Sector dispersion creates a potential for alpha

27/1/2023

[5min read, open as pdf]

Equity markets can experience dislocation
This increases dispersion between sectors
Higher dispersion increases potential for sector-selection alpha

In the context of dislocation, different sectors will perform in different ways to adapt to the changing macro and market regime.

inflation is getting stickier

20/1/2023

[5 min, open as pdf]

Inflation may be past the peak but not past the problem
UK Core inflation has not softened
Focus on where inflation rate will settle

For more on this topic see our CPD Webinar: Managing Inflation Risk (2023 update)

Citywire PODCAST: IS YIELD BACK?

18/1/2023

Wealth Manager's Ross Miller chats to Elston Consulting's Henry Cobbe. They discuss the return of yield and how it plays out across equities, bonds and alternatives.
Listen to the podcast

NMA PODCAST: INFLATION IS HERE TO STAY...

9/1/2023

NMA speaks to investment consultant Henry Cobbe about positioning equities for higher inflation using sector and factor equity investing.
Listen to the podcast

<<Previous

Insights.

HOW MUCH SHOULD PORTFOLIOS ADAPT OVER TIME?

the lure of cash

PROPERTY: RETHINK & BE READY

US DEBT CEILING CRISIS

putting cash to work with money market funds

ACTIVE vs PASSIVE: 2022 RESULTS

SECTOR INVESTING: an alternative approach to alpha generation

CoCO BONDS: ARE YOU EXPOSED?

Tracking the tremors

SVB and US REGIONAL BANKS

LIQUID REAL ASSETS: FOR INFLATION DIVERSIFICATION

DRY JANUARY, STICKY INFLATION

PRIVATE MARKETS: ASSETS, FEES & INTEREST RATES

FTSE past 8,000 reflects strong global sectors, not the UK economy

Citywire: Headache for multi-asset investors as gilt fund risk ratings rise

Bonds are getting interesting

Sector dispersion creates a potential for alpha

inflation is getting stickier

Citywire PODCAST: IS YIELD BACK?

NMA PODCAST: INFLATION IS HERE TO STAY...

ELSTON RESEARCH

Categories

Archives

Company

Solutions

Services