Securitized Quarterly, with Michelle Russell-Dowe

This episode of SchrodersTV was released on Tuesday 16 February.

This month we discuss the impact climate change might have on investment returns and what this means for investors. Andy Howard, Global Head of Sustainable Investment and our regular host, Lesley-Ann Morgan, ask economist Irene Lauro and fund managers Felix Odey and Isabella Hervey-Bathurst for their views on how investors might consider climate change in their portfolios.

The economic devastation wreaked by the pandemic has pushed us into a new phase of ultra-low rates, what we have called the era of the zero. To prevent economic disaster, interest rates and bond yields seem set to remain near or below zero for longer than many of us could ever have imagined.

But what does it mean for investors looking for higher returns and safe havens in an uncertain world?

Join our regular host, Lesley-Ann Morgan, Head of Multi-Asset Strategy, as she talks to Chief Economist Keith Wade, Fund Manager Remi Olu-Pitan, Head of Securitized Credit Michelle Russell-Dowe and Head of Fixed Income Andrew Chorlton.

The economic devastation wreaked by the pandemic has pushed us into a new phase of ultra-low rates, what we have called the era of the zero. To prevent economic disaster, interest rates and bond yields seem set to remain near or below zero for longer than many of us could ever have imagined.

But what does it mean for investors looking for higher returns and safe havens in an uncertain world?

Join our regular host, Lesley-Ann Morgan, Head of Multi-Asset Strategy, as she talks to Chief Economist Keith Wade, Fund Manager Remi Olu-Pitan, Head of Securitized Credit Michelle Russell-Dowe and Head of Fixed Income Andrew Chorlton.

After a volatile year which has impacted all our lives, we ask our experts about their views on the outlook for 2021.

Our regular host Lesley-Ann Morgan asks Chief Economist Keith Wade what shape he sees the recovery taking and why, talks to Global Head of Equities Rory Bateman for his views on the equity markets and where to look for performance highlights while Fund Manager Remi Olu-Pitan gives the multi-asset perspective.Head of US multi-sector Fixed Income Lisa Hornby also joins from her US desk to add her Stateside view.

After a volatile year which has impacted all our lives, we ask our experts about their views on the outlook for 2021.

Our regular host Lesley-Ann Morgan asks Chief Economist Keith Wade what shape he sees the recovery taking and why, talks to Global Head of Equities Rory Bateman for his views on the equity markets and where to look for performance highlights while Fund Manager Remi Olu-Pitan gives the multi-asset perspective.

The UK’s retired population are living healthier for longer and with that comes changing lifestyle preferences as a result of these changes. Retirement living communities seek to address this demographic shift, with the provision of high quality, permanent accommodation with plenty of facilities and opportunities for keeping physically fit and mentally healthy. We would be delighted if you could join us for a webinar to explore the drivers behind the growth of this market, the opportunity in the UK and why we believe the Covid-19 pandemic will not halt its popularity.

At the webinar you will hear from:

Mark Callender, Head of Real Estate Research
Patrick Bone, Fund Manager, UK Real Estate
Robin Hubbard, Head of Real Estate Capital
Kevin Beirne, Head of Retirement at Octopus Real Estate

Social supported housing is relatively immature and overlooked compared to other forms of UK residential property. During this session, we aim to provide some insight on how to access this market with relative scale and how it creates genuine societal benefit and impact in the community.

At the webinar you will hear from:

Mark Callender, Head of Real Estate Research
Naomi Green, UK Real Estate Fund Manager
Robin Hubbard, Head of Real Estate Capital
Andrew Dawber, Group Director of Civitas Investment Management, our specialist investment adviser, on the social supported housing sector

A detailed look at the mid-year outlook for the GEMS universe after the peak impact of the pandemic, trade war rhetoric, global policy intervention, and the re-opening of the global economies.

As we approach the 100-day anniversary of lockdown, inherent uncertainty around Covid-onomics and the trends that face all investors going forward remain exceptionally elevated. In this dynamic and uncertain market, navigating the opportunity set requires a number considerations and a broad toolkit. In this webinar, Head of Securitized Credit Michelle Russell-Dowe will discuss the Team’s latest research on the economic outlook, the market's recent reaction to TALF, as well as where we are seeing opportunities for the patient and opportunistic investor.

Credit markets have endured a tough time of late following an indiscriminate sell-off as investors rushed for the exit door. While it is clear some sectors face some serious challenges, there are others that could perform well and which now look attractively valued.

Join Peter Harvey, Fixed Income Fund Manager, and Sriram Reddy, UK Fixed Income Investment Director, in this live webinar where they will be examining the direction of travel for bond markets, the possible winners and losers and how they are positioning the strategic credit portfolio.

As we all continue to manage through these challenging times, Schroders extends our heartfelt regards to everyone. We stand by you as global citizens, and as capital market partners.

In this edition of our Quarterly series, Michelle examines the impact that recent Central Bank and government actions continue to have on the fixed income market, as well as where she and the team are seeing dislocations, as well as potential opportunities.

With markets continuing their pattern of high volatility across all asset classes, Remi Olu-Pitan and Merrick Styles, fund managers in our Multi-Asset group, will provide an update on how asset classes have performed in Q1 2020 and to look ahead for what pension schemes can continue to expect from Q2 onwards.

Remi and Merrick will cover how the Covid-19 pandemic has impacted multi-asset investments and the world economy, before discussing performance, asset allocation decisions and their thoughts on what the next cycle might look like.

You will also be able to submit your questions live to the presenters throughout the session.

An update on UK LDI markets in the current environment

With a pension scheme’s Statement of Investment Principles (SIP) now containing trustees’ policies on financially material considerations (including environmental, social and governance matters), the stewardship of investments and the extent to which members’ views are considered, attention is now on October 2020 when trustees must produce an implementation report explaining how they have followed and acted on the investment policies outlined in their SIP.

Jessica Ground, Global Head of Stewardship and Lesley-Ann Morgan, Head of Multi-Asset Strategy, will discuss the upcoming need for trustees to report to scheme members on the progress they have made in integrating sustainability into their scheme’s default investment strategy. They will also examine the level of reporting available and how investment strategies have adapted to integrate ESG as part of the day-to-day investment decision making process, to help trustees meet this new requirement.

Join us for Schroders Investment In Focus Webinar on Wednesday 18 March on the different investment opportunities across the credit universe.

Andy Chorlton (Head of US Multi-Sector & Fixed Income Solutions) will lead a discussion around the fundamentals of different credit markets. He will discuss where we see relative value and how we are currently positioned across our multi-asset credit portfolios, especially in the context of the ongoing market volatility. Sean Markowicz (Research Strategist) will outline the case for active asset allocation and security selection in credit portfolios.

There will be plenty of opportunities to ask questions and engage in the session.

Michelle Russell-Dowe, Head of Securitized Credit, presents on the research her team is doing on the credit markets by and large, and trends they’re seeing within Collateralized loan obligations (CLOs), global ABS, and more.

A new event that will focus on current market trends and dynamics, with perspectives delivered by Schroders' Head of Securitized Credit Michelle Russell-Dowe.

Given the challenges facing ‘traditional’ fixed income, we think segments of the securitized market warrant consideration for being a strategic portfolio component, given their better fundamentals and lower volatility compared to the more popular (and crowded) credit markets. Hear from Head of Securitized Credit Michelle Russell-Dowe as she gives her insights and opinions on the securitized space, how we expect the asset class to fare in today’s low rate environment, and where she sees opportunities within the consumer-driven, housing and real estate segments.

Schroders' Global Head of Stewardship Jessica Ground provides the Team's views on their latest ESG-related research