Insights
Equity Market Outlook
Equity Market Outlook 4Q 2024
Despite a slowing U.S. economy, we reaffirm many of our Q3 recommendations and think the odds of an imminent recession remain low.CIO Weekly Perspectives
CLOs Go Mainstream
Rates are on their way down—so why are investors lining up for these floating-rate securities?Podcast
Rates and REITs
(22:26) Is now the right time to return to REITs?White Paper
Comparing Evergreen and Traditional Fund Returns
As the landscape of private equity investing continues to evolve, evergreen funds have emerged as a compelling alternative to traditional funds.CIO Weekly Perspectives
The Fed “Recalibrates” to Buy Some Insurance
Rate-cutting cycles have tended to favor risk assets, so it was gratifying to see the central bank get started with a meaningful move.Insights
Returning to REITs
As inflation declines and interest rates are cut, the future may be brightening for one of the most beaten-down U.S. equity sectors.Insights
Technology Runs Through Asia
Across the “Golden Triangle” and beyond, Asian companies are forming a foundation for global technological growth and development.CIO Weekly Perspectives
The Fifth Stage of Pocketbook Grief
Economic data has been resilient, but everyone seems unhappy—will the consumer cheer up in time to avoid triggering a recession?Podcast
Amid the Volatility: What Are Investors’ Best Options?
(22:19) What are investors Options? Sitting down with Derek Devens, Senior Portfolio Manager of the Neuberger Berman Options Group to discuss this fearless sector.Insights
The U.S. Election and Energy: More Than Meets the Eye
The presidential candidates have well-known policy profiles on energy, but how could they translate in the real world?CIO Weekly Perspectives
Balance Is Critical for the Obstacles Ahead
Rising inflation may be behind us, but now a nervous market parses every data release for signs of recession.Article Reprint
Buyouts Keynote Interview: Private equity for all
In a keynote interview conducted by Buyouts, Peter von Lehe discusses how the democratization of private equity is about expanding access to the asset class by solving the structural and operational barriers to investing.CIO Weekly Perspectives
Why Japan Bounced Back
A huge market shock and a prime Minister heading for the exit—does any of what happened in August affect the long-term investment story for Japan?Insights
Basel III Endgame and the “Reg Cap” Opportunity
Tighter bank capital regulation looks set to make U.S. banks adopt a risk-transfer practice that has long been common in Europe—and attractive to investors.Video
Neuberger Berman Private Markets: Q2 2024 Preliminary Valuation Summary & Analysis
Doug Manor, Managing Director, Neuberger Berman Private Markets, provides an overview of private equity markets and an outlook based on trends in the marketplace.CIO Weekly Perspectives
Municipal Fixed Income: Shelter From the Storm?
Technical factors and market volatility are creating a value opportunity in the U.S. municipal market.Podcast
Let the [Micro] Chips Fall Where They May
(17:09) Unpacking the influence of the Asia Equities market as it relates to big tech with Eileen FurukawaCIO Weekly Perspectives
It’s Hard to Relax
It’s time for a well-deserved, late-summer breather, yet geopolitical tensions continue to mount.Insights
Private Debt: Few Facts Behind the Fears
Despite a rising tide of negative media coverage, we believe that private debt still has tremendous potential to deliver attractive risk-adjusted returns for investors.Article Reprint
Tier One Interview: Susan Kasser
In conversation with Jay Judas, CEO of Tier One, Susan Kasser, Head of Private Debt, discusses the ins and outs of private debt, why PPLI and private debt pair well together, and more.CIO Weekly Perspectives
Carried Away
The most important trigger for the recent equity sell-off wasn’t the U.S. jobs data, or the Fed, or even mega-cap tech earnings, but the Bank of Japan.Podcast
Elections, Equities and the Economy
(19:30) Does it matter if elections are close?CIO Weekly Perspectives
Innovation, Conflict and a Mysterious Disappearance
This year’s recommendation for vacation reading is a fascinating page-turner about one of the early 20th century’s most influential inventors.Insights
Corporate Hybrid Issuers Adopt a 30-Year Maturity Standard
A growing trend for issuing corporate hybrids with shorter contractual maturities is further reducing aspects of risk in the asset class.Insights
A New Era for Small Caps?
After a decade of lagging market results, stocks of small companies seem poised for a resurgence.Insights
U.S. Election: The Policy Choice
Putting rhetoric and personality (mostly) aside, we explore key policy differences—and similarities—between the political combatants.Insights
Gen AI: The Next Wave
As artificial intelligence tools gather steam, what’s the potential impact on businesses, investors and the planet?CIO Weekly Perspectives
A Soft Landing Is Still a Landing
What do slowing growth, lower inflation, tight credit spreads and a steepening yield curve mean for our fixed income views for the rest of the year?CIO Weekly Perspectives
A Change in Leadership?
As Biden withdraws, we are seeing an historic rotation into small-cap stocks and a growing opinion-polling lead for Donald Trump—are the two things related?Insights
Putting Put-Writing Into Perspective
When equities sputter, market volatility simmers and interest rates remain elevated, we believe underwriting market risk—by writing puts on the S&P 500 Index—can be a capital-efficient strategy for investors seeking to generate a diversified source of income in an uncertain economic environment.Insights
Asia Private Equity: Riding the ‘Three Locomotives’
Broadly diversified economies and a limited private equity presence appear to be enhancing regional opportunities for private capital.Insights
U.S. Election: Near-Term Turbulence, Long-Term Questions
A close election could see increased U.S. equity volatility followed by a relief rally, while resulting policy impacts could take time to play out and may be affected by fiscal constraints.Fixed Income Investment Outlook
Widening Differences, New Opportunities
Monetary changes and economic stresses are starting to drive diverging fundamentals across fixed income markets, reinforcing the value of security selection.Asset Allocation Committee Outlook
Policy and Politics
The first-quarter inflation bump is behind us, but we believe the risks of monetary policy errors and electoral surprises have risen.CIO Weekly Perspectives
High-Vol Politics, Low-Vol Markets
Are markets calm because of electoral unpredictability, rather than despite it?Video
Private Equity and the Polls
Have U.S. elections had any effect on private equity performance?Equity Market Outlook
Equity Market Outlook 3Q 2024
We remain constructive on stocks amid tentative signs of a broadening market.Podcast
Disruptive Investments Within Disruptive Regulations
(18:22) Ian Haas discusses opportunities, risks, and new regulations in the banking sector.CIO Weekly Perspectives
To Understand the Macro, Study the Micro
Right now, second-quarter earnings reports may be a better guide to the economic outlook than official statistics.Insights
Policy and Politics
The first-quarter inflation bump is behind us, but the risks of a monetary policy error and electoral shocks have risen.CIO Weekly Perspectives
Higher for Longer: The CIOs’ Weigh In
While this year’s inflation and rates environment has disappointed many, we see it as a bump in the road that has created opportunity in several markets.Insights
ESG Momentum in Non-Investment Grade Credit
Issuers are facing an increasingly high bar in relation to environmental, social and governance standards. Our recent panel discussion provided ideas on setting goals and working toward achieving them.White Paper
Private Equity and the Polls
Have U.S. elections had any effect on private equity performance?CIO Weekly Perspectives
Preparing for Rising Volatility
The second half of 2024 could see the current, localized election-related volatility go global.CIO Weekly Perspectives
Un Pas à Droite?
Midway through a record-breaking year for elections, we have just been given another—and it is potentially among the most important.White Paper
Specialty Finance: High-Yielding, Short-Duration and Uncorrelated Private Credit
The underlying assets, bespoke structuring and market dynamics of Specialty Finance can complement a traditional private debt strategy.CIO Weekly Perspectives
The Importance of Active Ownership
Shareholder engagement is for life, not just for proxy-voting season.Insights
Are U.S. and European Bonds About to Break Ranks?
The two markets have marched in lockstep for several months, setting up the potential for attractive relative-value and dispersion trades.Insights
China Takes It Slow
The world may want higher growth, but Chinese policymakers are employing a balanced approach.Article Reprint
Buyouts Keynote Interview: Motivated Sellers Create Buyers’ Market
Liquidity challenges seem to be fueling secondaries dealflow…Podcast
Consumer Dynamics Amid the Credit Crunch
(22:53) How are current consumers and companies alike navigating the current, seemingly uneasy, economic environment as it relates to credit markets?CIO Weekly Perspectives
It All Rests on Infrastructure
We see the asset class underpinning several key growth megatrends, but also the return of “big government” and its pursuit of security and protectionism.Video
Neuberger Berman Private Markets: Q1 2024 Preliminary Valuation Summary & Analysis
Doug Manor, Managing Director, Neuberger Berman Private Markets, provides an overview of private equity markets and an outlook based on trends in the marketplace.CIO Weekly Perspectives
Re-Rating Financials
A year after the mini-banking crisis, we see the normalizing interest rate and yield backdrop generating tailwinds behind the Financials sector.Podcast
The Wonders of Japan’s Economy
(19:03) As things are looking brighter for Japan’s economy, what opportunities could be in store?Insights
Deconstructing Opportunities in IG Credit
With narrow spreads and supportive fundamentals, watch for opportunities tied to value dislocations.CIO Weekly Perspectives
The Structural Trends, Whoever Wins
Positioning for geopolitical shocks or election results is difficult, but we think the resulting structural trends are easier to identify and prepare for.White Paper
The Equity Breakdown: Parsing the Key Debate in Five Sectors
Five of our senior equity analysts weigh in on the crucial conversation in each of their sectors.Article Reprint
Why Almanac Prefers Real Estate Platforms
In this interview Wouter Klijn from i3 (Australian institutional publication) speaks with Matthew Kaplan and Justin J. Hakimian.CIO Weekly Perspectives
Do We Now Need to Worry About Stagflation?
We believe high nominal growth, peak rates and broadening earnings performance continue to underpin equity market performance.Insights
Can India Keep Up the Pace?
Perspectives on the India success story and where it can go from here.White Paper
De-Siloing Your Fixed Income Portfolio
The potential benefits of multi-asset over siloed fixed income management, and why we think asset allocation should be a bottom-up as much as a top-down process.White Paper
Corporate Hybrids Take the World Stage
Why a predominantly European asset class is now growing in the U.S., creating new opportunities for seasoned investors.CIO Weekly Perspectives
The Coming Wave of Homebuyers
How higher rates for longer could be positive for U.S. consumption.Article Reprint
PEI Secondaries Roundtable: Private Markets’ Most Undercapitalized Asset Class
In a roundtable conducted by PEI, Ben Perl and other market leaders discuss the growth potential and opportunity set within the secondaries space, while also commenting on the issue of limited liquid capital available.Insights
U.S. Election: Age, Cash and Conflict
A political observer gives Joe Biden the edge, but thinks plenty could happen before November.Podcast
Making Dollars and Sense: The Critical Role of Financial Literacy
(30:00) With a distinct knowledge gap across the global consumer base, we delve into the why behind the lack of Financial Literacy and how our industry can support budding investors in navigating the markets.CIO Weekly Perspectives
An Ocean of Difference
‘Copy and paste’ your U.S. inflation outlook onto Europe and you may miss the opportunity in core European bonds.White Paper
The Pitfalls of Investing In Factor Indices
Factor indices are a far cry from “passive” investing and may be ill-designed to deliver optimal risk-adjusted returns.Podcast
What’s Up in the Air?
(18:17) As the airline sector has returned from years of COVID travel lags, we explore what has happened amid its journey to recovery and discover what else has transpired in the process...CIO Weekly Perspectives
Hot Commodities
We think the asset class stands to benefit from our base scenario, while having the potential to outperform and act as a hedge should tail risks be realized.Asset Allocation Committee Outlook
Breadth and Balance
The economic outlook may have improved, but we believe large parts of the credit and equity markets are fully valued.CIO Weekly Perspectives
Stay Focused on Earnings
Should a sticky inflation release cause investors to revise their outlook for equities?Equity Market Outlook
Extreme Distortions Everywhere: A Moment for Active Management
Powerful investment themes, such as AI, can capture the market’s collective imagination and we believe can create opportunities for tremendous wealth. Taken to an extreme, however, they can also trigger distortions across and within the markets.Podcast
Make Your Money Move
(16:10) With interest rates peaking, geopolitical uncertainty and the allure of cash savings diminishing, navigating investment opportunities can be a challenge. Is now the right time to make your money move?Fixed Income Investment Outlook
A Winding, Downward Path
While inflation remains a stubborn issue, the softening economy suggests that developed-market monetary easing could start sometime this year.Insights
Breadth and Balance
The economic outlook may have improved, but large parts of the credit and equity markets are fully valued.CIO Weekly Perspectives
Broaden Your Investment Horizons
It may be time to look beyond the U.S. for equity market performance, especially if early signs of a cyclical economic recovery persist.Insights
Japan Enters a New Era
We explore Japan’s revival, corporate reforms and where its equity opportunities may emerge next.Article Reprint
PEI Keynote Interview: Private Markets in Japan Continue to Accelerate
In a keynote interview conducted by PEI, Jonathan Shofet and Yoshi Yagisawa discuss how active primary fund investing and increasing LP appetite for co-investments, secondaries, and direct lending are indicative of Japan’s maturing private market landscape.CIO Weekly Perspectives
Time for the Yen to Blossom?
Strong forces still weigh on Japan’s currency, but its long, cold winter may be coming to an end.Article Reprint
Why This Market Theme is Ripe for Active Investing
Jonathan Bailey outlines his investment philosophy, shares insights from working with both governments and asset managers on sustainability, and explains why active investing is critical to achieving net-zero outcomes.Article Reprint
The Challenge of Active Engagement in a World of Passive Ownership
Jonathan Bailey shares the areas of focus driving his team’s research agenda.Podcast
Reassessing Retirement Savings with Robin Diamonte
(27:22) As retirement saving options continue to evolve, we bring Robin Diamonte, CIO of RTX, to share her insights on this crucial topic.CIO Weekly Perspectives
A Major Change in the Markets
Investors are now focused on growth more than inflation—what might that mean for portfolios?Insights
Opportunity in the Undercapitalized World of Private Equity Secondaries
While an increasing volume of GP-led transactions is being brought to the market, there is an acute shortage of capital—providing an attractive and likely lasting opportunity for experienced investors.Insights
Neuberger Berman Private Markets Q4 2023 Preliminary Valuation Summary and Analysis
Doug Manor, Managing Director, Neuberger Berman Private Markets, provides an overview of private equity markets and an outlook based on trends in the marketplace.CIO Weekly Perspectives
Re-Emerging Markets
After two years of record-breaking outflows, is emerging markets debt due for a turnaround?Podcast
When Specialty Finance Meets Silicon Valley Innovation
(19:55) As the opportunity set for alternative credit solutions continues to expand, we learn more about what innovations are happening in Specialty Finance today.CIO Weekly Perspectives
The Second Wave of the AI Investment Theme
The artificial intelligence investment theme made the “Magnificent Seven”—but could soon begin to disrupt it.CIO Weekly Perspectives
The Credit Opportunity in M&A
In an environment of tight spreads and low volatility, we believe the reemergence of mergers and acquisitions can be a source of idiosyncratic alpha in credit markets.White Paper
Cyber Risk and ILS
Exploring opportunities in the cyber (re)insurance market.White Paper
The Muddy Logic of Passive Commodity Investing
Passive investing in commodities is a bit of an oxymoron.Podcast
Real Estate Secondaries: A Diamond in the Rough Market?
(15:45) With real estate valuations falling and liquidity needs rising, could Real Estate Secondaries be considered “a diamond in the rough” market?CIO Weekly Perspectives
Earnings Remain Key in a Confusing Macro Picture
Macro uncertainty is high, but the earnings season has been solid—and not only in the U.S.CIO Weekly Perspectives
Inflation and Consumer Sentiment
U.S. consumer sentiment has defied predictions of excess savings running dry, but do hotter inflation data pose a risk?Insights
2023 Proxy Season in Review
In a period of unique market and economic dynamics, Neuberger Berman continued our tradition of vocal engagement to encourage best practices from companies.Insights
Real Estate Secondaries: A Discount to What?
Finding opportunity in a period of falling valuationsInsights
