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This content is for institutional investors and for information purposes only. It does not contain investment, financial, legal, tax or any other advice and should not be relied upon for this purpose. The materials are not tailored to your particular personal and/or financial situation. If you require advice based on your specific circumstances, you should contact a professional adviser. Opinions expressed are those of the speakers as of the date of the recording, are subject to change without notice and do not necessarily reflect Mercer’s opinions.
Now, more than ever, investors are seeking to address systemic imbalances by increasing diversity within their organisations and boosting DEI with their investment portfolios.
To explore how both investors and managers are approaching this, Alexa Shanks, Head of Intermediary Relationships, Mercer UK is joined by Stephen Deane, Portfolio Manager and Partner at Skerryvore Asset Management and Terrance Jones, Manager Research, Mercer US to discuss.
Nature as an ESG theme is rising into prominence and the link between nature and investors’ climate strategies is becoming clearer.
In this episode, Andrew Lilley, Sustainable Investment Head, Continental Europe is joined by Kate Brett, Global Intellectual Capital Lead for Sustainable Investment and Sarika Goel, Head of Sustainable Investment Manager Research to explore the market developments and trends for nature as well as the possible actions for investors today.
2022 was not a year for bond investors - but with inflation beginning to roll over, a strong start to the year, and bonds now offering the levels of income we haven’t seen in 20 years, 2023 looks far more optimistic.
Aisling Doherty, Senior Fixed Income Portfolio Manager at Mercer, is joined by Ella Hoxha, Senior Investment Manager, Pictet Asset Management and Samantha Milner, Head of U.S. Liquid Credit, Ares Management to discuss the outlook across bond markets for the year ahead, and how best to position portfolios to take advantage of the income and returns on offer.
2022 will go down in history as unpredictable and unprecedented. It started with a lot of optimism, then geopolitical unrest began, inflation took off, markets sold off and the era of cheap money effectively ended.
To make sense of it all, Rachel Volynsky, CIO of Canada and Global Chair of Equities is joined by Rupert Watson, Head of Asset Allocation, Europe and Cameron Systermans, Head of Asset Allocation, Asia.
Previous episodes
December 2022
Inge West, Sustainable Investment Specialist in Mercer’s Investment Solutions team is joined by Helga Birgden, Global Chair on Sustainable Investment at Mercer and John Green, Global Chief Commercial Officer of Ninety One, to explore how asset managers are supporting the climate transition and gain practical insights on how global capital can be harnessed to target local climate challenges.
We recorded this episode as a part of a podcast series on the occasion of COP27. Each episode illustrates the breadth and depth of Marsh McLennan’s climate capabilities. The issues addressed throughout the series include investment transition, the insurance sector’s role in climate adaption, communities and businesses’ exposure to physical risks, and how companies need to address the inextricable link between climate and nature.
Find more information about how Mercer, Marsh and other Marsh McLennan businesses will be addressing these issues at COP27 and beyond, visit https://www.marshmclennan.com/pages/climate-hub.html
December 2022
Max Messervy Head of Sustainable Investment, Americas is joined by Rich Nuzum, Executive Director, Investments, Global Chief Investment Strategist and Cara Williams, Global Head of ESG and Sustainability, Wealth Management and Multinational Client Lead for Wealth to reflect on what inspired them most at COP27. They also share the key themes that emerged while in Egypt and the lessons that institutional investors should take away following the outcomes at COP27.
December 2022
In this episode, Mercer colleagues and special guest Urs Bolt, WealthTech Expert, come together to discuss the key findings from the 2022 global wealth management investment survey as well as the possible action points to help wealth managers around the world take the next step on their client and growth journey.
November 2022
As 2022 comes to a close, insurance companies are facing significant price losses across their portfolios, particularly within long-duration fixed income. On the horizon are the risks of a global recession, peaking fundamentals, persistent inflation and energy crises, particularly in Europe.
We recently surveyed the insurance market globally to find out what their key concerns, challenges and opportunities are within their investment portfolios and how they plan to tackle these. With these findings in mind we have produced what we believe should be the top considerations for insurers in 2023.
To discuss the findings and the considerations, Colin Tipping, Global Head of Insurance Solutions is joined by Eryn Bacewich from the US team and William Gibbons from the UK/Europe team.
November 2022
Where are we now as we reach the end of 2022? Economies have overheated and have begun slowing down, with some potentially in recession already. Are we there yet? Will monetary tightening lead to a deep recession?
Samantha Davidson US OCIO Leader is joined by Rupert Watson, Head of Asset Allocation, Europe and Anthony Brown, Director of Capital markets in the US at Mercer to explore.
November 2022
2022 will certainly be remembered as momentous, and it may take some time to fully understand the ramifications of the events that occurred this year. Any of these events individually would likely have had a profound impact on markets, both public and private. However, in combination, these events, along with other relevant factors, have certainly pulled the rug out from under markets.
Billy Charlton, Global Head of Private Markets Data Analytics and Research is joined by Amarik Ubhi, Global Head of Infrastructure and David Scopelliti, Global Head of Private Debt to discuss how these significant events are affecting various private market segments and what we expect their ramifications to be in 2023.
November 2022
2022 brought a combination of interconnected challenges for all investors including endowments and foundations, from geopolitical conflicts to high inflation, supply chain problems to financial market volatility.
In this episode, Cori Trautvetter is joined by Gilles Lavoie and Gareth Donegan to explore what we believe are the top considerations for endowments and foundations in 2023. They also explore the approaches that could support endowments and foundations in navigating through them to achieve long-term success, while managing short-term disruptions.
November 2022
The past decade was one of the best on record for traditional 60/40 portfolios, but a sharp rise in macroeconomic volatility caused this period of success to come to an abrupt halt.
To explore what effect this has had on financial intermediaries globally, Conor Power is joined by Gregg Sommer and Adeline Tan as they also discuss what we believe are the top considerations for financial intermediaries as we transition into 2023.
November 2022
As 2022 comes to a close, insurance companies are facing significant price losses across their portfolios, particularly within long-duration fixed income. On the horizon are the risks of a global recession, peaking fundamentals, persistent inflation and energy crises, particularly in Europe.
We recently surveyed the insurance market globally to find out what their key concerns, challenges and opportunities are within their investment portfolios and how they plan to tackle these. With these findings in mind we have produced what we believe should be the top considerations for insurers in 2023.
To discuss the findings and the considerations, Colin Tipping, Global Head of Insurance Solutions is joined by Eryn Bacewich from the US team and William Gibbons from the UK/Europe team.
November 2022
Where are we now as we reach the end of 2022? Economies have overheated and have begun slowing down, with some potentially in recession already. Are we there yet? Will monetary tightening lead to a deep recession?
Samantha Davidson US OCIO Leader is joined by Rupert Watson, Head of Asset Allocation, Europe and Anthony Brown, Director of Capital markets in the US at Mercer to explore.
November 2022
2022 will certainly be remembered as momentous, and it may take some time to fully understand the ramifications of the events that occurred this year. Any of these events individually would likely have had a profound impact on markets, both public and private. However, in combination, these events, along with other relevant factors, have certainly pulled the rug out from under markets.
Billy Charlton, Global Head of Private Markets Data Analytics and Research is joined by Amarik Ubhi, Global Head of Infrastructure and David Scopelliti, Global Head of Private Debt to discuss how these significant events are affecting various private market segments and what we expect their ramifications to be in 2023.
November 2022
2022 brought a combination of interconnected challenges for all investors including endowments and foundations, from geopolitical conflicts to high inflation, supply chain problems to financial market volatility.
In this episode, Cori Trautvetter is joined by Gilles Lavoie and Gareth Donegan to explore what we believe are the top considerations for endowments and foundations in 2023. They also explore the approaches that could support endowments and foundations in navigating through them to achieve long-term success, while managing short-term disruptions.
November 2022
The past decade was one of the best on record for traditional 60/40 portfolios, but a sharp rise in macroeconomic volatility caused this period of success to come to an abrupt halt.
To explore what effect this has had on financial intermediaries globally, Conor Power is joined by Gregg Sommer and Adeline Tan as they also discuss what we believe are the top considerations for financial intermediaries as we transition into 2023.
November 2022
This episode seeks to provide an overview of the insurance industry’s role in advancing climate resilience, with a particular focus on de-risking, funding and incentivizing ex-ante pre-event climate risk reduction and adaptation measures. It also explores the exciting new initiative being pursued by the United Nations’ Race to Resilience unit to accelerate and scale those efforts.
Leading the discussion is Francis Bouchard, the Managing Director for Climate for Marsh McLennan’s Advantage unit, who is joined by Dr. Swenja Surminski, Managing Director, Climate, Marsh McLennan – and a long-time Peruvian climate negotiator and UN Resilience Hub official Jorge Gastelumendi.
November 2022
We have seen significant upheaval in global markets in the last twelve months, with a combination of the pandemic recovery, regional conflict, supply chain challenges and technological advancements having a profound impact on the world around us.
The impact of these events are similar to recent history, and allows us to draw on these experiences and adapt portfolios to the current landscape.
In this episode, Jo Holden, Global Head of Investment Research speaks with Nick White, Global Strategic Research Director and Matt Scott, Senior Investment Research Specialist, on the themes and opportunities we believe investors should consider in their decision-making in 2023 and beyond.
November 2022
The blocking of the Suez Canal in May, 2021 demonstrated the vulnerability of global supply chains to disruptions to the world's, canals and waterways. The just in time nature of shipping means that there is limited redundancy, and these kinds of routes become pressure points for cascading risk. With increasing incidents of disruptive weather events driven by climate change, greater focus needs to be given to understanding these potential critical points of failure.
Nicholas Faull, Head of Climate and Sustainability, Risk and Innovation at Marsh is joined by colleagues Dr. Bev. Adams, Head of Climate and Catastrophe Resilience based in the UK and Scott Williams, ESG Coordinating Director for the Middle Eastern Africa region to explore the importance of this case study.
November 2022
In this episode, Rachel Elwell, CEO of Border to Coast Pensions Partnership, discusses their journey to achieve net zero by 2050 with Mercer Research Heads, Rich Dell and Jo Holden. They also explore how to overcome some of the concerns around reaching a 1.5-degree world and how achieving net zero can potentially produce better investment outcomes.
October 2022
Wealth managers face a combination of issues as global markets enter yet another period of uncertainty while their clients demand sustainable returns – so how are they meeting these challenges?
In this episode, Mercer colleagues and special guests joined us to discuss the findings from the 2022 global wealth management investment survey as well as the possible action points to help wealth managers around the world take the next step on their client and growth journey.
October 2022
Evolution is change, and while change might be continuous, its pace may vary over time. The private markets investment landscape has certainly changed over the years since its beginning in the 1940s and has grown to become a ten trillion US dollar industry.
To discuss the evolution we have seen over the years Zeenat Patel is joined by Claudia Zeisberger, professor of entrepreneurship and family enterprise at INSEAD and founder of the Global Private Equity Initiative and Billy Charlton, Mercer’s global head of private markets, analytics and research .
Register to hear more from Claudia and Billy at the Mercer annual Alternatives Conference here
October 2022
MIn this episode, Marg Franklin, President and CEO of the CFA Institute unpacks the 2022 Mercer CFA Institute Global Pension Index with lead author David Knox, a Senior Partner at Mercer.
Throughout, they explore the results of year’s index and discuss the significant challenges and important changes to the pension industry in the last year.
September 2022
Mercer’s Damien Davis is joined by Rebecca Myatt, a Portfolio Manager with First Sentier Investors and Indira Sabitova, a Portfolio Manager with Mercer to explore both the potential benefits of listed infrastructure and what the future holds for the asset class.
September 2022
The fear of recession is dominating everyone's mind-set at the moment. The global economy has been slowing and is likely to continue to do so on the back of high commodity prices, rising interest rates and tightening financial conditions more or less everywhere with China being the notable exception.
Central Banks are thought to have underestimated inflation expectations and are increasing rates quite aggressively. Where they are facing an economic cycle that differs from the past, will they get it right and what’s the cost if they don’t?
September 2022
In this episode Vanessa Hodge, Mercer UK’s Sustainability Integration Lead is joined by Ashleigh Morris, CEO and co-founder of Coreo and Jillian Reid, Partner in Mercer’s global Sustainable Investment Team to discuss their recent Investor Group on Climate Change (IGCC) discussion paper for investors on the circular economy. Also joining the conversation is Jamie Butterworth, who is a Partner at Circularity Capital, a specialist private equity firm providing access to investment opportunities created by the circular economy.
August 2022
We canvassed the opinions and intentions of not-for-profit investors from around the world on a range of subjects, including sustainability, macro challenges reflected in the sector, the increase in allocation to private markets and the evolution towards seeking third party assistance to help them overcome challenges and achieve the objectives of their not for profit organisation.
Throughout this episode we will be joined by Mercer colleagues and special guests to discuss these 4 key considerations that were highlighted within the report as well as the range of possible action points.
To go straight to one of the key findings, see the chapters below:
1:45 - Macro concerns reflected in the sentiment of the sector
19:22- Private markets — The big migration
38:05- Outsourcing — Navigating the future with the right support
53:53 - Sustainability — Closing the gap between ethics and investment returns
July 2022
Inflationary pressures that began bubbling during the Covid crisis have come to a head, and central banks are fighting it by engineering an economic slowdown. Risks remain high in some markets, in others there are grounds for optimism and buying opportunities.
Samantha Davidson, US OCIO Segment Leader is joined by Rupert Watson, Head of Asset Allocation, Europe and Anthony Brown, Director of capital markets, US to discuss the key findings from our 2022 mid-year outlook.
June 2022
Performance of active equity strategies in Q1 2022 was challenging, leading to unfavourable relative returns over the quarter and, in a number of areas, over the last 12 months. This has raised questions over active management and how investors should respond to poor relative returns. Join Suzanne Lubbe and Victoria Goh from Mercer’s manager research team as they discuss why they believe investors shouldn’t give up on active management and what is the best way to think about the individual building blocks when constructing multi-manager equity portfolios.
June 2022
Join Rupert Watson, Head of Asset Allocation Europe and Rachel Volynsky, CIO Canada as they discuss the outlook for equities after significant falls this year.
The FED has faced criticism for being too slow to tighten financial conditions, and to not notice or appreciate what was happening to inflation. With a recession seeming inevitable for many, Rupert and Rachel discuss whether they think we are heading for a recession, but importantly whether it will be a deep or mild recession. With Equity markets having corrected this year and signalling a return towards fundamental valuations, we ask is there more to go and will the FED intervene? Where can investors look for opportunities across developed markets, China and more broadly emerging markets.
June 2022
Rich Nuzum, President of Investments & Retirement, Mercer discusses his perspectives coming away from Davos with International Head of Clients, Mark McNulty. Listen as Rich shares learnings and new ideas from meeting CEOs, governments, philanthropists, venture capitalists and entrepreneurs that could help tackle some of the world's biggest challenges.
May 2022
Many investors lack significant experience of the private markets space and, therefore, require some understanding of how it fits into their portfolios.
In this episode, Amy Ridge is joined by Dr Ashby Monk, research director at Stanford University’s Long-Term Investing initiative, and Billy Charlton, Mercer’s global head of private markets data analytics & research, to discuss some of the biggest issues around private markets and what institutional investors should consider before putting their capital to work.
May 2022
The level of portfolio protection from high-quality debt instruments that generations of investors have relied on is no longer there. Investors need more tools in the toolkit. Gold and some currencies can protect well, but are subject to idiosyncratic risks and are noncontractual; their protective capacities are essentially market conventions or rules of thumb. Contractual approaches to protection, specifically options on equity indices or on market volatility could also be warranted today, though these can raise issues over the cost of carry (spend on option premiums), which generates a drag on returns in persistently buoyant markets.
Given the need to manage a range of exposures dynamically, there is a role for hedge fund strategies, including macro managers, which may be better equipped at managing through a transitionary period. Furthermore, given the potential for higher correlation between equities and bonds, reducing exposure to traditional beta in favor of strategies that are expected to generate returns regardless of market direction has merit.
In this episode, Deborah Wardle is joined by Dave McMillan and Dr Sushil Wadhwani, Chief Investment Officer for PGIM Wadhwani to discuss some of the key questions surrounding the hedge fund investing landscape at the moment and in doing so, look to answer the question of whether hedge funds staging a comeback?
April 2022
In this episode, Angelika Delen is joined by impact investing expert Charly Kleissner, PhD to discuss the difference between impact and deep impact investing, the importance of transparency and how investors need to work together to change finance as opposed to just financing change.
Charly Kleissner is an impact investor. He believes that the real meaning of wealth is to make a positive contribution to humanity and the planet. He is a leader of the deep impact movement which is not only treating the symptoms of our failing economic system, but its root causes – with a level of awareness and consciousness that is non-anthropocentric. He sees impact investing not as an intellectual exercise, but as an expression of who he really is.
April 2022
Why is water, essential to life on earth, not more central to investors’ decision making?
In this episode dedicated to Earth Day, Mark Longbottom is joined by Helga Birgden and John Elmore-Jones to discuss their latest research into the importance of water, as a critical resource, when considering investments. They explore why investment into protecting water as core to people and the environment needs an urgent reset, and they outline what approaches investors can take to address the risks of overlooking the importance of investing in our planet.
Mercer has recently been working in partnership with the Valuing Water Initiative, CDP and the Water Footprint Network on a project to increase water-related transparency and awareness among financial institutions.
March 2022
The Russia – Ukraine conflict continues to cause uncertainty for investors. Energy prices and Inflation continues to rise globally and the conversation has turned from transitory inflation to the possibility of stagflation.
Listen to Erin Lefkowitz and Rupert Watson as they discuss their outlook for interest rates, inflation and markets more broadly and the possible implications for portfolios.
March 2022
Bitcoin and Gold are often compared to one another with Bitcoin having even been referred to as “digital gold”. In this episode, Nick White, Matt Scott and our special guest Urs Bolt, discuss the similarities, differences, and obstacles Bitcoin faces to make it mainstream amongst institutional investors.
Urs Bolt has 30 plus years’ experience in the financial services industry, mainly in wealth management, investment banking and banking technology business. His core expertise is to develop and roll out new digital business platforms. Urs’ current focus is helping FinTech and WealthTech companies and financial service providers review/refocus business strategies.
Urs is also co-initiator of the Swiss Open Wealth Association with the goal to accelerate the development of new ecosystems in wealth management and private banking. Beside that he actively contributes to the progress of the Swiss and global ecosystem in crypto finance as an opinion leader and a passionate lecturer in ecosystems in crypto finance in post-graduate courses.
December 2021
Climate change, social upheaval and global instability are inescapable for us as a society - but what can we do as investors?
In this in-depth, two part podcast, we speak to a distinguished behavioural scientist Dr Sweta Chakraborty, who explains how investors can cut through the - sometimes distressing - noise to see where our capital allocations can make a real difference and help create a better world for all of us. Investors cannot just think about the here and now; they must consider the issues most likely to drive future financial, social and political developments in a way that allows them to take the decisions needed to meet their objectives. Through consideration of these key trends and challenges, we believe investors stand the best chance of long-term success.
Dr. Sweta Chakraborty is a risk and behavioural scientist whose work is motivated by the need for clear and credible communication to urgently and proactively manage the risks that threaten human security and well‑being. With her absolute commitment to evidence‑based decision‑making, she helps policy‑makers and private sector organisations understand global risks and create clear strategies to manage them.
Sweta is the head of the Top Tier Impact Policy Action Unit where she oversees global scientific consensus building for science and tech policy advising. She is also the U.S. Representative for “We Don’t Have Time,” the Sweden‑based tech start‑up that launched Greta Thunberg to viral global renown.
December 2021
Climate change, social upheaval and global instability are inescapable for us as a society - but what can we do as investors?
In this in-depth, two part podcast, we speak to a distinguished behavioural scientist Dr Sweta Chakraborty, who explains how investors can cut through the - sometimes distressing - noise to see where our capital allocations can make a real difference and help create a better world for all of us. Investors cannot just think about the here and now; they must consider the issues most likely to drive future financial, social and political developments in a way that allows them to take the decisions needed to meet their objectives. Through consideration of these key trends and challenges, we believe investors stand the best chance of long-term success.
November 2021
The Covid-19 crisis dug a deep economic hole in 2020. If 2021 was the year when the hole was filled, 2022 should see building work commence on the freshly levelled ground. In practice, the recovery has not been as straight forward as that metaphor might suggest. The re-imposition of restrictions across many large economies weighed on global growth during the first quarter of the year. The economic reopening unleashed huge pent-up demand, leading to a strong pick-up in economic activity. Although some of that economic momentum was lost going into the end of the year, on the back of supply-chain disruptions, high energy prices and weaker growth in China, we believe 2022 should see the economic recovery continue.
November 2021
Substantial and profound changes are rapidly reshaping the world as we know it, with significant implications for investors. This vibrant re-imaging can be encapsulated in a single word: Metamorphosis.
Investors cannot just think about the here and now; they must consider the issues most likely to drive future financial, social and political developments in a way that allows them to take the decisions needed to meet their objectives. Through consideration of these key trends and challenges, we believe investors stand the best chance of long-term success.
September 2021
US Interest rates: where to from here?
With the Fed likely to start tapering their bond purchases this year, attention will soon turn to when they will raise interest rates and how high they will get. Will rates stay at exceptionally low levels or might we see the sort of levels we saw before the Great Financial Crisis?
Is it Japan’s time to shine?
Japanese equities have been unloved for a long time, but is the tide turning? The outlook for the economy doesn’t seem to have changed enormously, but some investors are becoming more optimistic on the outlook for Japanese equities. We’ll discuss the reasons why or whether investors should avoid.
The High yield trade
Credit spreads are very tight. Does this mean returns are likely to be poor or will low default rates and other factors support the asset class?
August 2021
How do investors move from curiosity to conviction when it comes to increasing diversity in their portfolios?
Our panel will discuss how LPs could achieve greater diversity, whether based on portfolio requirements, board demands, or the opportunity set. To “add diversity,” investors must not only answer important questions, they must know what those important questions are. We will discuss how to start the crucial conversations around gender and racial equity necessary for creating a diverse portfolio.
Is Diversity and inclusion different to ESG?
August 2021
Institutional investors, in growing numbers, are announcing their aims to reduce portfolio emissions to net-zero, with almost half of global assets estimated to be pledged to meet climate change goals.
The drivers are two-fold: the near-term risks and opportunities presented by the low-carbon transition already underway, plus the expectation that a 1.5°C climate scenario will allow investors to consistently meet return objectives over multiple decades.
But behind the flurry of recent announcements to set alignment targets, how is investment in the transition tracking? Will pledges be implemented and what happens if not? What approaches are investors adopting? What’s working and what obstacles remain?
July 2021
In this episode, Rupert is joined by colleagues Elizabeth Paine and Matt Scott to discuss developments in the world of cryptoassets and the wider digital ecosystem they underpin including decentralized finance.
Whilst it is tempting to dismiss most or all of the thousands of cryptoassets and their use cases as being part of a very old story, the get rich quick scheme, Matt and Lizzie will attempt to convince Rupert that there may indeed be some flowers on the dungheap.
As well as discussing the potential for upside in these assets, they will also discuss recent challenges to cryptoassets, including regulatory action and responsible investment concerns.
June 2021
Equities have come a long way over the last 15 months with some non-tech companies at last outperforming popular technology names. Rupert Watson, will be chatting with Larry Vasquez and Jan-Hein van den Akker, about whether this will continue and discuss the implications of recent signs of inflation and the possibility of higher bond yields over the next few years.
June 2021
Global systemic risks could significantly influence investor returns and long-term objectives in both positive and negative ways. Investors should understand what these risks are, along with the opportunities they may also bring, and implement an efficient strategy to integrate them into their portfolios.
Join our guest speakers, as they discuss their findings from our recent white paper - Trendsetters: Transformational Investment Practices of Advanced Investors, and how we developed a framework for addressing global systemic trends that investors can use to benchmark their progress against their peers.
May 2021
The focus on diversity, equity and inclusion within the workplace has been increasing for several years but has been accelerated by Covid. Hear why it is important, how we include it in our managers research and how each of us as individuals can make a difference.
April 2021
The Chinese economy is now entering into a new phase of development that we believe will help it become a moderately prosperous nation by 2035 and to achieve full modernisation by 2050. We assess the opportunities and challenges of this transition and explore what this means for global investors and capital markets.
March 2021
Inflation fears are rising. After 10 years of inflation being too low that might actually be good news. But what are the implications for bonds, equities and portfolio construction more generally?
Garvan McCarthy (Partner & CIO Alternatives, Europe) and Nick White (Global Strategic Research Director) join Rupert Watson to discuss their views on the topic on every investor’s lips.
February 2021
Join Rupert Watson and Susan McDermott as they discuss the transition from the Trump to the Biden administration and what effect this might have on climate change, the China/US relationship. They’ll share their views on whether they see opportunities in Bitcoin and China in addition to sharing Mercer’s latest house views and what this means for markets more broadly.
November 2022
We have seen significant upheaval in global markets in the last twelve months, with a combination of the pandemic recovery, regional conflict, supply chain challenges and technological advancements having a profound impact on the world around us.
The impact of these events are similar to recent history, and allows us to draw on these experiences and adapt portfolios to the current landscape.
In this episode, Jo Holden, Global Head of Investment Research speaks with Nick White, Global Strategic Research Director and Matt Scott, Senior Investment Research Specialist, on the themes and opportunities we believe investors should consider in their decision-making in 2023 and beyond.
November 2022
The blocking of the Suez Canal in May, 2021 demonstrated the vulnerability of global supply chains to disruptions to the world's, canals and waterways. The just in time nature of shipping means that there is limited redundancy, and these kinds of routes become pressure points for cascading risk. With increasing incidents of disruptive weather events driven by climate change, greater focus needs to be given to understanding these potential critical points of failure.
Nicholas Faull, Head of Climate and Sustainability, Risk and Innovation at Marsh is joined by colleagues Dr. Bev. Adams, Head of Climate and Catastrophe Resilience based in the UK and Scott Williams, ESG Coordinating Director for the Middle Eastern Africa region to explore the importance of this case study.
November 2022
In this episode, Rachel Elwell, CEO of Border to Coast Pensions Partnership, discusses their journey to achieve net zero by 2050 with Mercer Research Heads, Rich Dell and Jo Holden. They also explore how to overcome some of the concerns around reaching a 1.5-degree world and how achieving net zero can potentially produce better investment outcomes.
October 2022
Wealth managers face a combination of issues as global markets enter yet another period of uncertainty while their clients demand sustainable returns – so how are they meeting these challenges?
In this episode, Mercer colleagues and special guests joined us to discuss the findings from the 2022 global wealth management investment survey as well as the possible action points to help wealth managers around the world take the next step on their client and growth journey.
October 2022
Evolution is change, and while change might be continuous, its pace may vary over time. The private markets investment landscape has certainly changed over the years since its beginning in the 1940s and has grown to become a ten trillion US dollar industry.
To discuss the evolution we have seen over the years Zeenat Patel is joined by Claudia Zeisberger, professor of entrepreneurship and family enterprise at INSEAD and founder of the Global Private Equity Initiative and Billy Charlton, Mercer’s global head of private markets, analytics and research .
Register to hear more from Claudia and Billy at the Mercer annual Alternatives Conference here
October 2022
MIn this episode, Marg Franklin, President and CEO of the CFA Institute unpacks the 2022 Mercer CFA Institute Global Pension Index with lead author David Knox, a Senior Partner at Mercer.
Throughout, they explore the results of year’s index and discuss the significant challenges and important changes to the pension industry in the last year.
September 2022
Mercer’s Damien Davis is joined by Rebecca Myatt, a Portfolio Manager with First Sentier Investors and Indira Sabitova, a Portfolio Manager with Mercer to explore both the potential benefits of listed infrastructure and what the future holds for the asset class.
September 2022
The fear of recession is dominating everyone's mind-set at the moment. The global economy has been slowing and is likely to continue to do so on the back of high commodity prices, rising interest rates and tightening financial conditions more or less everywhere with China being the notable exception.
Central Banks are thought to have underestimated inflation expectations and are increasing rates quite aggressively. Where they are facing an economic cycle that differs from the past, will they get it right and what’s the cost if they don’t?
September 2022
In this episode Vanessa Hodge, Mercer UK’s Sustainability Integration Lead is joined by Ashleigh Morris, CEO and co-founder of Coreo and Jillian Reid, Partner in Mercer’s global Sustainable Investment Team to discuss their recent Investor Group on Climate Change (IGCC) discussion paper for investors on the circular economy. Also joining the conversation is Jamie Butterworth, who is a Partner at Circularity Capital, a specialist private equity firm providing access to investment opportunities created by the circular economy.
August 2022
We canvassed the opinions and intentions of not-for-profit investors from around the world on a range of subjects, including sustainability, macro challenges reflected in the sector, the increase in allocation to private markets and the evolution towards seeking third party assistance to help them overcome challenges and achieve the objectives of their not for profit organisation.
Throughout this episode we will be joined by Mercer colleagues and special guests to discuss these 4 key considerations that were highlighted within the report as well as the range of possible action points.
To go straight to one of the key findings, see the chapters below:
1:45 - Macro concerns reflected in the sentiment of the sector
19:22- Private markets — The big migration
38:05- Outsourcing — Navigating the future with the right support
53:53 - Sustainability — Closing the gap between ethics and investment returns
July 2022
Inflationary pressures that began bubbling during the Covid crisis have come to a head, and central banks are fighting it by engineering an economic slowdown. Risks remain high in some markets, in others there are grounds for optimism and buying opportunities.
Samantha Davidson, US OCIO Segment Leader is joined by Rupert Watson, Head of Asset Allocation, Europe and Anthony Brown, Director of capital markets, US to discuss the key findings from our 2022 mid-year outlook.
June 2022
Performance of active equity strategies in Q1 2022 was challenging, leading to unfavourable relative returns over the quarter and, in a number of areas, over the last 12 months. This has raised questions over active management and how investors should respond to poor relative returns. Join Suzanne Lubbe and Victoria Goh from Mercer’s manager research team as they discuss why they believe investors shouldn’t give up on active management and what is the best way to think about the individual building blocks when constructing multi-manager equity portfolios.
June 2022
Join Rupert Watson, Head of Asset Allocation Europe and Rachel Volynsky, CIO Canada as they discuss the outlook for equities after significant falls this year.
The FED has faced criticism for being too slow to tighten financial conditions, and to not notice or appreciate what was happening to inflation. With a recession seeming inevitable for many, Rupert and Rachel discuss whether they think we are heading for a recession, but importantly whether it will be a deep or mild recession. With Equity markets having corrected this year and signalling a return towards fundamental valuations, we ask is there more to go and will the FED intervene? Where can investors look for opportunities across developed markets, China and more broadly emerging markets.
June 2022
Rich Nuzum, President of Investments & Retirement, Mercer discusses his perspectives coming away from Davos with International Head of Clients, Mark McNulty. Listen as Rich shares learnings and new ideas from meeting CEOs, governments, philanthropists, venture capitalists and entrepreneurs that could help tackle some of the world's biggest challenges.
May 2022
Many investors lack significant experience of the private markets space and, therefore, require some understanding of how it fits into their portfolios.
In this episode, Amy Ridge is joined by Dr Ashby Monk, research director at Stanford University’s Long-Term Investing initiative, and Billy Charlton, Mercer’s global head of private markets data analytics & research, to discuss some of the biggest issues around private markets and what institutional investors should consider before putting their capital to work.
May 2022
The level of portfolio protection from high-quality debt instruments that generations of investors have relied on is no longer there. Investors need more tools in the toolkit. Gold and some currencies can protect well, but are subject to idiosyncratic risks and are noncontractual; their protective capacities are essentially market conventions or rules of thumb. Contractual approaches to protection, specifically options on equity indices or on market volatility could also be warranted today, though these can raise issues over the cost of carry (spend on option premiums), which generates a drag on returns in persistently buoyant markets.
Given the need to manage a range of exposures dynamically, there is a role for hedge fund strategies, including macro managers, which may be better equipped at managing through a transitionary period. Furthermore, given the potential for higher correlation between equities and bonds, reducing exposure to traditional beta in favor of strategies that are expected to generate returns regardless of market direction has merit.
In this episode, Deborah Wardle is joined by Dave McMillan and Dr Sushil Wadhwani, Chief Investment Officer for PGIM Wadhwani to discuss some of the key questions surrounding the hedge fund investing landscape at the moment and in doing so, look to answer the question of whether hedge funds staging a comeback?
April 2022
In this episode, Angelika Delen is joined by impact investing expert Charly Kleissner, PhD to discuss the difference between impact and deep impact investing, the importance of transparency and how investors need to work together to change finance as opposed to just financing change.
Charly Kleissner is an impact investor. He believes that the real meaning of wealth is to make a positive contribution to humanity and the planet. He is a leader of the deep impact movement which is not only treating the symptoms of our failing economic system, but its root causes – with a level of awareness and consciousness that is non-anthropocentric. He sees impact investing not as an intellectual exercise, but as an expression of who he really is.
April 2022
Why is water, essential to life on earth, not more central to investors’ decision making?
In this episode dedicated to Earth Day, Mark Longbottom is joined by Helga Birgden and John Elmore-Jones to discuss their latest research into the importance of water, as a critical resource, when considering investments. They explore why investment into protecting water as core to people and the environment needs an urgent reset, and they outline what approaches investors can take to address the risks of overlooking the importance of investing in our planet.
Mercer has recently been working in partnership with the Valuing Water Initiative, CDP and the Water Footprint Network on a project to increase water-related transparency and awareness among financial institutions.
March 2022
The Russia – Ukraine conflict continues to cause uncertainty for investors. Energy prices and Inflation continues to rise globally and the conversation has turned from transitory inflation to the possibility of stagflation.
Listen to Erin Lefkowitz and Rupert Watson as they discuss their outlook for interest rates, inflation and markets more broadly and the possible implications for portfolios.
March 2022
Bitcoin and Gold are often compared to one another with Bitcoin having even been referred to as “digital gold”. In this episode, Nick White, Matt Scott and our special guest Urs Bolt, discuss the similarities, differences, and obstacles Bitcoin faces to make it mainstream amongst institutional investors.
Urs Bolt has 30 plus years’ experience in the financial services industry, mainly in wealth management, investment banking and banking technology business. His core expertise is to develop and roll out new digital business platforms. Urs’ current focus is helping FinTech and WealthTech companies and financial service providers review/refocus business strategies.
Urs is also co-initiator of the Swiss Open Wealth Association with the goal to accelerate the development of new ecosystems in wealth management and private banking. Beside that he actively contributes to the progress of the Swiss and global ecosystem in crypto finance as an opinion leader and a passionate lecturer in ecosystems in crypto finance in post-graduate courses.
Africa
