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- Contextualizes the Russia-Ukraine conflict for the medium-term
- Discusses carbon reduction through the lens of net-zero
banking commitments and agricultural infrastructure
- Identifies how to approach a fixed-income portfolio with
rising inflation and tightening accommodation, and quantifies how
inflation is affecting retirement portfolios
- Examines the need to review how we study the U.S. labor
market in light of changing demographics and attitudes toward
work
BOSTON and TORONTO, March 8,
2022 /PRNewswire/ -- Manulife Investment
Management today released Global Intelligence, its
semi-annual report with firmwide analysis and relevant perspectives
from its investment teams. The H1 2022 report discusses the factors
that have contributed to recent market volatility and explores how
the Russia-Ukraine conflict, rising inflation, supply
chain issues, sustainability, and worker shortages
could affect investment opportunities as the global economy
works to find its post-pandemic footing.
"In our most recent Global Intelligence, we've highlighted the
numerous challenges and opportunities in today's markets," said
Paul Lorentz, president and CEO
at Manulife Investment Management. "The topics discussed are
designed to help investors manage the risks associated with the
military conflict and humanitarian crisis in Ukraine, discover new sources of yield,
evaluate sustainability solutions, source retirement income, and
recognize the forces within the global macro landscape that
may affect their portfolios over the long term."
Christopher P. Conkey, CFA,
global head of public markets at Manulife Investment
Management, said, "Dramatic changes in the geopolitical and
economic landscape are prompting investors to rethink assumptions
and reassess risk. We believe this is a time for active management
to add value, and we've highlighted several areas where our
research is helping investors do just that."
Stephen J. Blewitt, global head
of private markets at Manulife Investment Management, said,
"Among the opportunities we see in the current environment are the
ways in which innovations in agricultural infrastructure are making
agriculture both more productive and more sustainable. These
strategies may be more immediately significant as we anticipate the
stress affecting global commodities."
Asset class themes and observations within Global
Intelligence include:
- Incorporating the Russia-Ukraine conflict in a global macro
outlook—Frances Donald, global
chief economist and strategist, multi-asset solutions, offers
perspective on the evolving situation in Ukraine in a medium-term outlook. Frances
notes that the trajectory of the event adds conviction to the
team's existing call that the first half of 2022 will face
stagflationary dynamics and that the second half of 2022 will face
hurdles to growth and lower inflation.
- Net-zero emissions: pledges abound, but few banks are on a
path to meet their commitments—Frederick Isleib, CFA, director of ESG
research and integration, and Omar
Soliman, ESG analyst, explore the pivotal role banks will
play in steering the world toward a lower-carbon future. Their
analysis suggests that while many banks have made net-zero pledges,
few so far are meeting the pace of change required to meet those
goals.
- From farm to fork: overcoming supply chain vulnerabilities
with agriculture infrastructure innovations—Oliver S. Williams IV, CFA, global head of
agriculture investments and Recep C. Kendircioglu, CFA, FRM, head
of infrastructure investments, present compelling reasoning to
improve agricultural production and address supply chain issues
through controlled environmental agriculture (CEA). With the
agriculture industry facing a future characterized by natural
resource scarcity, supply chain vulnerabilities, and more frequent
extreme weather events, the greater incorporation of CEA technology
into food production offers a sustainable path forward and may
offer specific advantages to open-field farming with the additional
benefit of reducing carbon emissions.
- Not all pluses are equal: the case for an active approach to
fixed-income spread sectors—Howard C.
Greene, CFA, co-head of U.S. core and core-plus fixed
income, Daniel S. Janis III, head of
global multi-sector fixed income, and Endre
Pedersen, deputy CIO, global fixed income, and CIO, global
emerging-market fixed income, see the challenges of the
fixed-income market today solved by taking an active, broad-based
approach to the markets. While the risks posed by rising rates,
high inflation, and tight valuations are unlikely to abate in the
near future, there are still plenty of levers for active investors
to pull: Global diversification, allocating to underused sectors,
targeted yield curve positioning, and active currency exposure are
all proven tactics that can add potential value in challenging
markets.
- Inflation's impact on retirement portfolios: quantifying the
future cost today—Alex Grassino,
head of macro strategy, North
America, and Émilie Paquet, FSA, head of strategic
initiatives and innovation, multi-asset solutions, enlighten
investors to the fact that small increases in inflation can have
outsize impacts on their retirement portfolios. After discussing
the team's long-term outlook for inflation and the forces that are
driving it to levels not seen in decades, they reveal how investors
can use some fairly simple formulas to quantify the effects on
their own portfolios. Importantly, they also discuss the concrete
actions that investors can take today to mitigate the painful
impact that rising prices can have on their plans for
retirement.
- Five trends shaping the U.S. labor market—Erica Camilleri, global macro strategist,
Frances Donald, and Alex Grassino, head of macro strategy,
North America, multi-asset
solutions, contextualize recent developments in the U.S. labor
market and argue that economists need to think outside the box to
better understand the rapidly transforming job market.
For more information and to view the full report, please
click here.
About Manulife Investment Management
Manulife
Investment Management is the global brand for the global wealth and
asset management segment of Manulife Financial Corporation. We draw
on more than a century of financial stewardship and the full
resources of our parent company to serve individuals, institutions,
and retirement plan members worldwide. Headquartered in
Toronto, our leading capabilities
in public and private markets are strengthened by an investment
footprint that spans 18 geographies. We complement these
capabilities by providing access to a network of unaffiliated asset
managers from around the world. We're committed to investing
responsibly across our businesses. We develop innovative global
frameworks for sustainable investing, collaboratively engage with
companies in our securities portfolios, and maintain a high
standard of stewardship where we own and operate assets, and we
believe in supporting financial well-being through our workplace
retirement plans. Today, plan sponsors around the world rely on our
retirement plan administration and investment expertise to help
their employees plan for, save for, and live a better retirement.
Not all offerings are available in all jurisdictions. For
additional information, please visit manulifeim.com.
Media contacts: Asia - Carl Wong,
Carl_KK_Wong@manulifeam.com; Canada - Odette
Coleman, Odette_Coleman@manulife.com; United States and Europe - Elizabeth Bartlett,
Elizabeth_Bartlett@manulife.com
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