Investors are increasingly moving towards a greener and more sustainable approach, driven indirectly through regulations and more directly through meeting heightened stakeholder expectations. In this live and interactive webinar we will analyse what sustainable investing means at RLAM and the specific themes that shape our approach. We will provide insights from a fixed income perspective and an assessment of the key challenges, risks and pitfalls that can come with sustainable investing within credit.
Please join Chris Mills, Institutional Client Solutions Director, alongside Shalin Shah, Senior Fixed Income Fund Manager, and Matt Franklin, Senior Credit Researcher as they share our views on how best to construct a sustainable credit investment portfolio.
Head of Responsible Investment, Ashley Hamilton-Claxton and Responsible Investment Operations Manager, Beth Goldsmith, will provide an overview of the activity undertaken by the team over the past year including the stewardship of RLAM’s investments and the integration of ESG into investment processes. They will also provide an assessment of current themes in the market, such as SFDR and TCFD and conclude with an outlook on how the landscape for responsible investing may evolve.
The race to zero emissions is gaining momentum and decarbonisation commitments from corporates and governments are increasing ahead of the next UNFCCC COP26*. The apparent gap between the science-based emissions’ reductions required to halt climate change and the trajectory of the economy seems to be closing, as shown in the recently published International Energy Agency (IEA) Net Zero 2050 scenario modelling. But what is the size of the gap? How trustworthy are these Net Zero commitments? And, what is RLAM’s role in achieving Net Zero and helping our clients to fulfil their own climate commitments? Following the recent publication of our Stewardship & responsible investment 2021 and 2020 TCFD reports, Carlota Garcia-Manas, Head of Engagement and Simonetta Spavieri, Responsible Investment Analyst will share insights on RLAM’s climate strategy: they will unravel the climate regulatory maze, highlight the shortfalls and improvements in climate metrics and provide examples of how all this influences RLAM’s ambition to be a catalyst for a Paris-aligned economy.
*United Nations Framework Convention on Climate Change, 26th Conference of the Parties.
As yields have reached an all-time low, Head of Alpha Strategies, Paul Rayner will outline his thoughts on whether government bond markets should still be viewed as a ‘risk off’ asset allocation. With record levels of financial stimulus from central banks, Paul will consider the inflationary effect and whether the risks associated with governments bonds should be re-considered. He will also provide a view on what the future may look like for this perceived ‘safe haven’.
Insurers are increasingly moving towards a greener and more sustainable investment approach, driven indirectly through insurance regulations and more directly through meeting stakeholder’s heightened expectations. However, a sustainable investment approach can vary significantly between investors, and there are many potential pitfalls to be aware of that can mean the returns achieved are compromised and / or the societal and environmental benefits are not fully realised.
Please join our team of Mike Fox (Head of Sustainable Investments), Shalin Shah (Senior Fixed Income Manager) and Andrew Epsom (Insurance Client Solutions Director) as they share our views on how best to construct a sustainable investment portfolio. Mike will provide an overview of what sustainable investing means at RLAM, and how we invest on a sustainable basis touching upon equity specific themes. Shalin will then provide insights from a fixed income perspective and highlight some of the key challenges, risks and pitfalls that can come with sustainable investing within credit.
Head of Rates and Cash, Craig Inches will provide a summary of cash rates, credit spreads and a view on the direction that base rates may head towards. Craig will argue that although negative interest rates no longer seem imminent, yields remain low and RLAM provide a range of cash solutions which aim to meet different client objectives. He will provide an update on how ESG is being integrated into the security selection process before finishing with a market outlook for the remainder of 2021.
Government bond yields rose significantly over the first quarter of 2021. Head of Sterling Credit, Paola Binns will provide an insight into the reasons why before a more specific update on how the market has impacted key funds. Paola will provide an overview on positioning and liquidity within the respective funds, which differentiates them from peers in the market, before concluding with a market outlook for the remainder of the year.
Will Kenney, Senior Fund Manager, reviews the current environment and whether inflationary pressures may be transitory or become more established. Will evaluates the impact this may have on the Global Equity team’s bottom up, stock specific, corporate lifecycle investment process.
As the global economy reopens, Head of Multi Asset, Trevor Greetham, explains why he thinks we may see more rotation than appreciation in stock markets as highly valued technology shares struggle in the face of rising bond yields. A more inflationary post-Covid recovery should benefit multi asset portfolios with higher weightings in commodities, UK equities and commercial property in his view.
Head of Fixed Income, Jonathan Platt and Senior Client Portfolio Manager, Ewan McAlpine will provide an overview of fixed income markets in Q1 2021 and an outlook for the year ahead. Jonathan and Ewan will cover the rise in yields, particularly in Q1, the shape of the yield curve and the direction in which yields may head to next. They will discuss the performance drivers in bond markets and the importance of income.
Finally they will conclude with their thoughts on a recovery and the possibility of inflationary pressure and interest rate rises further down the line.
Having experienced one of the most challenging investment environments in living memory, this webinar will explore how the Covid-19 pandemic has impacted global credit markets and led to an unprecedented policy response from central banks. Through the lens of RLAM’s Multi-Asset Credit Fund, Senior Fund Manager Khuram Sharih will reflect on recent events and the action the investment team took to protect the portfolio from the worst of the fallout and to position it to benefit from the subsequent recovery. Khuram will share his views on the outlook for the various credit sub asset classes, detailing why now more than ever, stable income provision is of upmost importance for investors.
In this session, Head of Sustainable Investments, Mike Fox and Senior Fund Manager, Shalin Shah, update on current themes across sustainable investing. Mike will cover recent developments and how the RLAM fund range has evolved over time, while Shalin will focus on providing an update on the fixed income funds and address the ‘green bonds’ label. Shalin will explain the potential flaws in readily available external research and the benefits of a rigorous in-house approach.
As ‘sustainable’ investing gains ever more traction in fixed income markets, asset managers appear to be engaged in an arms race to demonstrate their ESG credentials to asset owners. Signs are emerging that credit investors may be favouring convenience over credibility, such as blindly buying bonds with ESG labels or relying on incomplete third party data. Shalin Shah, manager of RLAM’s range of Sustainable credit funds, alongside Senior Credit Analyst, Matthew Franklin, will demonstrate how a more bespoke and fixed income specific approach to ESG integration can help capture inefficiencies present in credit markets, with no compromise on either returns or sustainability.
Building on RLAM’s long established heritage in Sustainable Investing, they will also talk about the real opportunity to provide capital to critical social and environmental sectors that are largely inaccessible to investors across other asset classes.
Carlota Garcia-Manas, Azhar Hussain, Martin Foden and Andrew Epsom
2020 was a highly challenging year for insurers with large falls in asset values and worsening of balance sheets over the earlier part of the year, ongoing increased volatility and wider stresses to operating models. Now the dust has (at least partially) settled, insurers are now facing a different challenge – generating an acceptable level of return under the now much lower yield environment. In addition to the market environment, climate risk management and the evolving regulatory framework will remain at the forefront of discussions in 2021.
Join us for a 2021 insurance outlook webinar hosted by the RLAM team comprising: Andrew Epsom (Insurance Client Solutions Director); Carlota Garcia-Manas (Senior Responsible Investment Analyst); Martin Foden (Head of Credit Research); and Azhar Hussain (Head of Global Credit) who will provide an insight into how insurers can adapt their portfolios to the new economic and regulatory environment. Topics of discussion will include key themes such as climate risk management, effective integration of ESG into credit investing and unlocking increased returns in a post-Covid world.
The RL Global Equity Select Fund’s investment approach is used to differentiate stocks across their respective lifecycles, in order to build a relatively neutral style portfolio. Whilst a portfolio with either a distinct growth or value bias enhances risk exposure, this investment approach may help negate that by offering idiosyncratic stock picking which can work across multiple market environments.
The fund has a proven track record with a style agnostic approach, which distinguishes it from its peers.
Listen to find out more about how the lifecycle concept is put into practice, plus hear about practical stock examples and Peter Rutter’s views on the current market.