Robeco's December Newsletter

Robeco's December Newsletter

The tech giants have generated most stock market returns, but there may be better value in smaller Russell 2000 names, our monthly outlook says. This month we also share our fundamental equities and fixed income outlooks, showcase a bespoke investment solution for an insurer, and outline why the Nordic nations still rule in sustainability.?

Finding diamonds in the rough

Small-cap stocks in the Russell 2000 rather than the mega-caps of the S&P 500 may prove to be the hidden gems in 2024.

The S&P500 versus Russell 2000 performance around NBER recession troughs. Source: LSEG Datastream, Robeco

Read the full monthly outlook here


Fixed income outlook: Staying Power

How can fixed income investors take advantage of market turns in 2024? We believe staying power is needed to navigate ongoing market volatility and we maintain the view that yields have room to decline further.

  • The market is adopting an ‘appeal of bonds’ view
  • The long-term policy rate is still priced too high
  • Our strategies remain positioned for steeper curves

For more detailed analyses read the full outlook here


Podcast: A swift but thorough look at 2024

2023 gave investors little reason to complain. Both global equities and bonds are likely to deliver positive returns and Goldilocks still reigns supreme. In this podcast Colin Graham and Peter van der Welle discuss the cracks in the resilience of Western economies (and their consumers), a contrarian view on the soft-landing consensus, inflation, geopolitics, … and Taylor Swift.

A swift but thorough look at 2024

Enjoy the podcast


Equity outlook: Guarded optimism

Equity markets face an uncertain 2024 even as the US economy glides toward a fabled soft landing.

Summary

  • DM equity rally should broaden as the Fed pivots
  • Earnings cycle set to drive EM equities
  • Productivity growth and the energy transition are long term tailwinds

Download the publication


For insurers, unprecedented risks require unprecedented solutions

As the UK’s largest pension and long-term savings business, Phoenix Group is no stranger to managing long-term risk. But climate change presents systemic hazards that require innovative approaches. Together with Robeco, Phoenix Group created a bespoke, multi-asset solution that not only helps mitigate climate risks but also helps in its efforts to capture the alpha opportunities stemming from green growth.

While learning how to de-risk and decarbonize portfolios over the long term is critical, Phoenix also wants to capitalize on the solution providers that enable the transition to a sustainable economy

Read the full article here


Nordics shine in national ESG scores

In Robeco’s latest Country Sustainability Report , Finland slipped slightly to tie with Sweden for the country with the best ESG scores. Meanwhile, rising emissions and intensifying weather events are reducing resilience and raising the stakes of environmental risks for developed and developing countries alike.

Source

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