A Top-Down Approach

Asset prices are driven primarily by trends in economic growth, inflation, policy and liquidity/financial conditions. Individual asset classes respond differently to these variables at various points in the economic cycle, depending on the macro environment, financial health, valuations and investor positioning. We produce in-depth research on individual asset classes over the course of the cycle as well as emphasize integrated risk-reward analysis.

The Roadmap

We provide a multi-year roadmap of the global economy and asset markets for clients, as well as a perspective on where we are in the investment cycle. To assist clients with tactical investment decisions, our cyclical work focuses on the outlook for asset markets on a 6-12 month horizon.

Proprietary Indicators And Models

Our asset strategies and recommendations are derived from the experience and judgement of our senior research staff as well as our proprietary indicators and models to ensure rigor. Our proprietary indicators and models are designed to forecast economic activity, monetary policy, asset market behavior and valuations. These provide objective inputs into our view and form a crucial part of our research process.