Discusses geopolitical factors affecting economic response to COVID-19 across the U.S., Europe, and India
Identifies macro trends accelerated by the pandemic, including the increasingly desperate search for yield
Showcases the real asset opportunities that remain and the appetite for ESG investments
TSX/NYSE/PSE: MFC SEHK: 945
TORONTO and BOSTON, July 29, 2020 /CNW/ – Manulife Investment Management today released its biannual Global Intelligence report, a firmwide outlook highlighting notable perspectives from its private and public markets investment teams – and read in nearly 200 countries. Key themes in the report include what we expect during the stages of economic recovery, disruption within emerging markets like India, the opportunities for timberland assets amid expanding carbon offset markets, the myriad challenges in addressing the pandemic’s impact on the European Union, and how emergency central bank measures have obscured looming bond market risks.
“As the global economy recovers from the fast and dramatic downturn experienced earlier this year, we believe market volatility will continue and accelerate the macro trends already at work, including an increasingly desperate search for yield,” said Christopher P. Conkey, CFA, head of public markets at Manulife Investment Management. “While we remain optimistic that calmer waters lie ahead, complex risks continue to affect investment behaviors. The latest edition of Global Intelligence provides information to help clients assess the landscape with clear eyes, a long-term perspective, and the support of expert teams.”
“While private markets have not been immune to the global pandemic’s economic impact, we still see nuanced opportunities to suppress risk and improve returns on a variety of private market assets,” said Stephen J. Blewitt, head of private markets at Manulife Investment Management. “We’re helping investors find opportunities that provide diversification, dependable cash yields, inflation protection, and low correlations with mainstream financial markets, as reflected in this latest report.”
Notable asset class themes, shifts and guidance within Global Intelligence include:
“India at the crossroads of disruption—a tipping point for growth” — Senior Portfolio Manager Rana Gupta and Research Analyst Koushik Pal share how the pandemic has accelerated digitization and reconfiguration across areas of the economy including grocery retail and durables manufacturing.
“Timberland Investing and the promise of carbon markets” — Global Head of Timber Investments Thomas G. Sarno, Managing Director of Economic Research Keith A. Balter and Director of Forest Economics Mary Ellen Aronow discuss how timberland owners can find a new, more diversified revenue stream as the carbon offset market grows and ESG factors assume more significant roles within investors’ portfolios.
“How emergency central bank measures have obscured looming bond market risks” — Senior Portfolio Managers Roshan Thiru, CFA, and Daniel S. Janis III explore how central bank intervention policies designed to contain market fallout have obscured risk for fixed-income investors.
“The three stages of the global economic recovery” — Global Chief Economist & Global Head of Macroeconomic Strategy, Frances Donald, discusses a three-stage recovery, each with its own set of key themes, bringing about different kinds of opportunities and risks.
“Assessing Europe’s response to Covid-19″ — Senior Strategist Stuart Thomson, CFA, examines the state of the geopolitical landscape in Europe and the challenges of addressing the pandemic’s impact on the European Union.
For more information and to view the report please click here.
About Manulife Investment Management Manulife Investment Management1 is the global wealth and asset management segment of Manulife Financial Corporation. We draw on more than 150 years of financial stewardship to partner with clients across our institutional, retail, and retirement businesses globally. Our specialist approach to money management includes the highly differentiated strategies of our fixed-income, specialized equity, multi-asset solutions, and private markets teams—along with access to specialized, unaffiliated asset managers from around the world through our multimanager model. Our personalized, data-driven approach to retirement is focused on delivering financial wellness in retirement plans of all sizes to help plan participants and members retire with dignity.
Headquartered in Toronto, we operate as Manulife Investment Management throughout the world, with the exception of the United States, where the retail and retirement businesses operate as John Hancock Investment Management and John Hancock, respectively; and in Asia and Canada, where the retirement business operates as Manulife. Manulife Investment Management had CAD$832 billion (US$586 billion) in assets under management and administration.* Not all offerings are available in all jurisdictions. For additional information, please visit our website at manulifeim.com.
* MFC financials in CAD. Global Wealth and Asset Management AUMA as of March 31, 2020, was $832 billion and includes $195 billion of assets managed on behalf of other segments and $139 billion of assets under administration.
NEW YORK (AP) — Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House.
Tesla stands to make significant gains under a Trump administration with the threat of diminished subsidies for alternative energy and electric vehicles doing the most harm to smaller competitors. Trump’s plans for extensive tariffs on Chinese imports make it less likely that Chinese EVs will be sold in bulk in the U.S. anytime soon.
“Tesla has the scale and scope that is unmatched,” said Wedbush analyst Dan Ives, in a note to investors. “This dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players.”
Tesla shares jumped 14.8% Wednesday while shares of rival electric vehicle makers tumbled. Nio, based in Shanghai, fell 5.3%. Shares of electric truck maker Rivian dropped 8.3% and Lucid Group fell 5.3%.
Tesla dominates sales of electric vehicles in the U.S, with 48.9% in market share through the middle of 2024, according to the U.S. Energy Information Administration.
Subsidies for clean energy are part of the Inflation Reduction Act, signed into law by President Joe Biden in 2022. It included tax credits for manufacturing, along with tax credits for consumers of electric vehicles.
Musk was one of Trump’s biggest donors, spending at least $119 million mobilizing Trump’s supporters to back the Republican nominee. He also pledged to give away $1 million a day to voters signing a petition for his political action committee.
In some ways, it has been a rocky year for Tesla, with sales and profit declining through the first half of the year. Profit did rise 17.3% in the third quarter.
The U.S. opened an investigation into the company’s “Full Self-Driving” system after reports of crashes in low-visibility conditions, including one that killed a pedestrian. The investigation covers roughly 2.4 million Teslas from the 2016 through 2024 model years.
And investors sent company shares tumbling last month after Tesla unveiled its long-awaited robotaxi at a Hollywood studio Thursday night, seeing not much progress at Tesla on autonomous vehicles while other companies have been making notable progress.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
