Robeco Asset Management Podcast: Recent Episodes
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This podcast is for professional investors only. Robeco Podcasts: offering engaging interviews on Sustainability, Factor Investing & trends.
Emerging markets are often viewed through the lens of geopolitics, growth and valuations. But for quantitative investors, another question matters just as much: how do systematic models need to evolve as markets change? In this episode, we explore why the asset class remains structurally under-owned, and how innovation in signals, data and portfolio construction can help navigate a more concentrated, more complex investment landscape.
Investors in EM equities may worry they're doubling up by investing in EM debt. That isn't the case though with EM bonds drawing on sovereign credit cycles and local currency dynamics that move independently from equities. The foundation has never been stronger with emerging market economies having recently navigated geopolitical shocks, inflation, and developed-market turbulence.
Emerging markets are anything but homogeneous: institutions, policy regimes, commodity exposure, governance standards and political risk vary. This dispersion is the opportunity set for true active managers to compound value.
The rotation into emerging markets is embryonic, with global investor portfolios still over-exposed to US assets. Realigning investments to better reflect the engines of global economic growth will take decades, not months and this trend is only just gaining momentum.
Stock markets have been dominated by the energy and AI themes, centered around a tech-dominated US market that some feel is over-priced. In the latest episode of our podcast series with Robeco's investors, Chris Hart, Portfolio Manager of Robeco Boston Partners Global Premium Equities, explains how he finds pockets of value all over the world.
Framing around emerging markets has typically focused on risk, but long‑term investors see mispriced opportunity. In this 'EM to the core' episode, portfolio manager Daniela da Costa shares how she looks through the geopolitical noise to focus on how different emerging markets are repositioning themselves in this new environment.
In episode 3 we focus on a key structural force: the emerging markets consumer. Karnail Sangha of Robeco's Emerging Markets Equity team discusses who these consumers are, how rising incomes and digital inclusion are transforming their spending patterns, and what sectors stand to benefit from this powerful, long‑term growth trend.
Emerging markets are now leading innovation in strategic sectors. In our new 'EM to the core' episode, Robeco's Jaap van der Hart explains how countries like China, Korea, Taiwan and India have become key to the supply chains in semiconductors, AI hardware, autos and renewable energy – and what that means for investors.
In the first episode of our new podcast series, portfolio manager Wim-Hein Pals discusses six factors that support the case for emerging markets equities. The relative discount of around 30% compared to developed markets is probably the most significant.
Factor investing was built on powerful academic foundations, but its real-world results have become harder to ignore. While many traditional factor approaches have disappointed, some quant strategies have continued to outperform across cycles. In this podcast, we unpack the gap between theory and practice, and what it reveals about the evolution of quant investing.
Markets are selling off and this does not feel like a 'buy the dip' moment. Asian markets are taking a blow after the Strait of Hormuz was effectively closed, while Europe is hit harder than the US. Profit taking even hurts traditional safe haven assets such as gold. The dollar, however, strengthens – as it should in times of crisis.
As tensions in the Middle East intensified over the weekend, investors have been retreating toward traditional safe havens, such as oil, gold, the US dollar, and US Treasuries. The conflict's ripple effects are also being felt unevenly across regions, from Europe and the US to China. Robeco's Colin Graham takes a multi‑asset lens to the situation, exploring how markets are reacting and what those signals might mean for investors.
Equity investing has always been about understanding businesses from the ground up. But we're now in an era when geopolitics matters more, where power is shifting, and in which a handful of technologies are reshaping entire industries. So the key question for investors today is how shareholder value is created and defended in a world that feels noisier, faster, and more fragmented than before. And that's what we're exploring in this episode.
Credit markets usually do not make the headlines, as the big themes of the day, such as AI, are perhaps less relevant to fixed income investors. However, they quietly shape how investors generate income and manage risk. Credit investors Evert Giesen and Jan Willem Knoll discuss the state of the markets and their favorite segments in this podcast episode.
Listed real estate continues to trade at a discount to the broader equity market, while dividend yields have been steady at attractive levels. Does the sector offer sufficient investor appeal over the coming years?
Emerging market equities have comfortably outperformed developed markets over the year to date – for the first time in years. Is this the start of something bigger, or just a temporary catch-up? And what lessons are there in the tremendous performance dispersion within the emerging-market universe?
There is talk of ESG fatigue – at least in some parts of the world – and concerns about how shareholder rights are evolving. There’s also fresh thinking about the role of defense spending in sustainable portfolios. Tune in to our latest podcast episode where Carola van Lamoen and Rachel Whittaker discuss the state of sustainable investing.
Exciting AI developments and technological innovation meet macroeconomic and geopolitical headwinds. Global economic growth will keep momentum, but it may be somewhat subdued in the next five years. Tune in to hear strategist Peter van der Welle and co-head of Investment Solutions, Colin Graham discuss the prospects for various asset classes and dig deeper into the findings of Robeco’s 5-year investment outlook.
Growth stocks have outpaced value stocks over the past decade, with growth’s lead particularly clear in the US market. That’s the high-level perspective – which suggests that value investors have been left out in the cold in recent years. But have they. really? Chris Hart, portfolio manager at Boston Partners, discusses what it takes to invest successfully in a world of hype, hyperbole, and very limited forward visibility.
What's next for AI in investing? In the final part of our AI summer course, we join our experts and look beyond the horizon. Discover how AI developments may redefine investment roles, strategy development, and asset classes, preparing investors and the industry for a future driven by innovation and technological evolution.
Who’s riding the AI wave? Which innovations are shaping investing today and tomorrow? Explore the dynamic AI trends shaping investing from 2023 through 2027 in the second podcast episode of our AI summer course, and how Robeco’s Dynamic Theme Machine ETF and incubator strategies use cutting-edge AI tools to identify emerging themes, optimize timing, and capture real-world opportunities.
In the first podcast of our AI summer course, we trace AI’s journey from academic experiments to becoming a core driver of alpha in Robeco’s flagship quant strategies. This episode highlights key breakthroughs, innovative use cases, and how AI is reshaping investment decision-making in practical and powerful ways today
With so much reliance on technology in quant investing, what role do humans play in the process? In the eleventh and final episode of our series on quant investing, Harald Lohre discusses the human side of quant. Why, for example, is creativity important in such a data-driven and systematic field? What makes for good quant researchers at Robeco? Are they in fact all geniuses?
Disruption has been the trend of 2025. Upheaval is everywhere, from geopolitics and trade, to the fields of technology, payments, ways of working and more. Does a thematic approach help equity investors to cut through all the noise, or could it be that investment themes or trends are also being disrupted?
What kind of performance can investors expect from Active Quant? In this episode we look at what contributes to the stability of Active Quant, what makes it flexible, and what we really mean when we say ‘systematic alpha capture’.
How much risk are you comfortable with – and how should that affect your investment choices? In the ninth episode of this new series on quant investing, Jeroen Hagens unpacks how different levels of risk appetite influence the use of active quant strategies.
The high-yield bond market has rebounded from April’s tariff-driven sell-off, with US spreads having tightened and European yields holding steady. But investors are being kept on their toes: US policy risks continue to fuel volatility, while divergent dynamics are at play across regions-as-well-as-sectors. Sander Bus and Christiaan Lever discuss the present market environment and the key question: will their quality bias pay off?
Capturing quant alpha requires a blend of innovation and precision. In the eighth episode of this new series on quant investing, we welcome back Vania Sulman, quant portfolio manager, to explain how Robeco captures quant alpha.
In this new episode portfolio manager Vania Sulman explains how the tracking error of an Active Quant approach is managed over the long term, and explains the process of overweights and underweights versus the benchmark. She also talks about how Active Quant differs from an enhanced-indexing approach.
Investing is evolving fast, and next-gen signals are at the forefront of that evolution. But what arethey? In the sixth episode of this new series on quant investing, Iman Honarvar Gheysary returns to unpack these developments for us.
The first 100 days of Donald Trump’s return to the White House have been marked by sweeping change: executive actions, heightened trade tensions, and growing uncertainty seem to be the new normal. In this episode, we evaluate how these early policy moves by the new US administration are reshaping the global economic landscape, and what it all means for investors.
‘In times of turmoil you see where the crowded trades are’, says strategist Martin van Vliet. He explains what happened on the bond market that made Trump blink, and discusses where safe havens can be found when US Treasuries crumble.
AI is everywhere – but what does it actually mean for quant investing? In the fifth episode of this new series on quant investing, we speak with Iman Honarvar, Senior Quant Researcher at Robeco, who shares how AI is used today. From scalable infrastructure to real-world applications, Iman reveals how Robeco has built a foundation to make AI truly work – while embracing the human creativity that still drives innovation forward.
President Trump blinked and markets worldwide rally. Is this an opportunity to take risk off the table or are we back in ‘risk on territory’? China faces even higher tariffs, while the historically rock-solid safe-haven status of the US dollar starts to show some cracks.
In this episode we cover five of the key questions clients have dropped with us over the past few days when Trump’s tariffs wreaked havoc on financial markets.
This week’s paradox: ‘we’re witnessing a very significant market event on something that we all saw coming’, says Joshua Crabb, portfolio manager based in Hongkong.
You see indiscriminative selling happening now among hedge funds. First they sell what they could, now they sell whatever they can.
Broad factor groups help explain long-term returns and, indeed, form the framework for quantitative stock selection models. In the fourth of this new series on Quant Investing we meet again with Matthais Hanauer, researcher and director at Robeco, to find out more about the perfect quant stock
Global markets are reeling from unpredictable US policy shifts – from tariff wars to geopolitical moves – all of which has left emerging market equity investors on edge. Positioning portfolios for 2025 and beyond demands a clear grasp of regional, country, and sector dynamics. Investors are looking for alternatives to US Big Tech companies and start adding regions with more attractive valuations and decent prospects.
Academic literature tells us there are more than 300 factors. But not all can be exploited by investors. In this third episode of our new podcast series, Quant researcher Matthias Hanauer explains the five criteria these factors should meet in order to help achieve long-term alpha.
AI has shaken up the investment world, generating impressive stock-market gains for the perceived winners. Is the market now starting to move beyond its obsession with the usual suspects in the AI race? Portfolio managers Jack Neele and Daniel Ernst discuss how they’re dealing with these questions.
Active Quant offers stable, systematic outperformance with predictable risk-return characteristics. But what’s really in it for you? In the second of this new series on Quant Investing we sit down with Jeroen Hagens, Client Portfolio Manager for Quant Equities at Robeco, to get the inside scoop.
Quant investing has been called a ‘black box,’ but is that really the case? In the first of this new series on Quant Investing we sit down with Harald Lohre, Director of Quant Research at Robeco, to break down this myth.
Equity markets are living through one of the most powerful momentum runs in decades, driven in large part by the continued dominance of US large-cap equities. But with valuations soaring, the question is: can the winners keep on winning, or will the momentum train soon lose steam?
In a world in which the momentum factor is a key driver of investor flows, and where investment sentiment is heavily skewed towards US mega-caps, a contrarian view can pay off. Boston Partners portfolio manager Chris Hart talks about opportunities in healthcare, consumer staples, financials and industrials.
Robeco’s one-year outlook, titled ‘This is not a landing’, looks at how the US economy so far skillfully manages to defy all the indicators flashing an immediate recession risk. Peter van der Welle and Colin Graham discuss a broad range of both regions and asset classes in our latest podcast episode.
What 'four more years of Trump' means for financial markets. Erika van der Merwe with Robeco's Colin Graham and Lauren Mariano.
This has been a landmark year for active exchange traded funds. More than 300 new active ETFs have been launched so far in 2024, and around EUR 200 bln investor flows have made their way into this market segment. Why have investors become increasingly eager to get exposure to these not-so-passive investment vehicles?
Markets are preparing for lower rates. Fixed income investors who need their portfolios to keep on generating enough income are having to evaluate their options. For those who don't have the stomach for high yield debt, the investment grade segment of the credit market has some interesting possibilities. Tune in to hear Jan Willem Knoll and Daniel Ender discuss the merits of subordinated debt.
Many investors are still underweight emerging market equities. While the asset class outperformed developed markets by a wide margin in the first decade after the millennium, emerging market equity returns have since lagged, leaving investors with a degree of skepticism. But, looking ahead, one cannot deny the immense promise that many emerging markets now offer. Tune in to hear the views of Vicki Chi and Karnail Sangha.
It’s almost unnerving, watching equity-market indices repeatedly touching new all-time highs. Particularly when the gains are founded on a very select group of stocks, while economic indicators are relatively mixed. In such a set-up – we ask portfolio manager Michiel Plakman – what’s the best strategy for managing a market-beating investment portfolio?
What does it take to truly see the significant shifts taking place in the world around us – those structural themes that might be obscured by the noise, but which require investors’ attention? Daniel Ernst and Sam Brasser are passionate about watching the world, discerning persistent themes and forming views on how to construct portfolios to benefit from them. Tune in to our latest podcast episode.
Anticipating how financial markets might react to the US presidential elections is a tough call for investors. Mike Mullaney, Director of Global Markets Research at Boston Partners, gives some clear guidelines on the scenarios.
While the returns of the Magnificent Seven stocks dwarfed the performance of thematic strategies in 2023, the tide may slowly be turning. In this podcast episode we talk to two seasoned thematic investors, Jack Neele and Roman Boner.
Quant equity investing has enjoyed the resurgence of value since late 2020. Meanwhile, the quest for innovation in capturing returns continues unabated. Since the birth of quant investing, there’s been a steady rise in the number of factors that researchers claim can explain alpha. But it turns out that 15 factors are enough to capture most of the drivers of equity market returns.
A new aspect of the evolution in sustainable investing is the emphasis on what is termed 'transition finance'. It is a broad concept – some argue it’s too broad – but there are strong views that the complex shift that we need to get our economies to net zero will depend on this form of capital. How are investors going about the process of transition investing?
A year ago, many market participants were arguing that 2023 would be a great year for fixed income. Following a series of aggressive policy rate hikes, it seemed at the start of the year to be a great entry point. But interest rates continue to rise for most of 2023 and flows into the asset class turned out to be surprisingly modest. Have we now reached a turning point?
2023 gave investors little reason to complain. Both global equities and bondsare 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.
The buzz around artificial intelligence has reached fever pitch, with growing awareness of what this technology can do. What does it all mean for investors? Can the power of AI be harnessed to create better investment outcomes? We’ve invited three specialists in this area, to discuss the various possibilities.
Consensus views in the market have changed from a likelihood of a recession to a most likely soft landing. But economic laws have always applied and this time should be no different.
Countries all over the world have embraced the SDGs. Our new Country SDG Framework shows exactly which of those countries are making most progress. This new framework helps fixed income investors to finance those governments that are really making a difference. Laurens Swinkels and Jan Anton van Zanten discuss the details in our latest podcast episode.
Early this year, investors were notably enthusiastic about emerging market equities. And, as the months have gone by, funds have flowed towards this asset class. While returns have been fair, investors are still waiting for the big pay-off from the emerging market bet. How patient ought investors to be, and how rewarding will that pay-off be in the end? We discuss this with portfolio managers Wim-Hein Pals and Jaap van der Hart.
It’s been just over six months since generative AI was made truly accessible to the world at large. It’s sparked the collective imagination about the implications of AI technology for how we live, work – and even how we should assess potential investment prospects. What’s real, and what framework should one be applying to discern what the opportunities are? Mike Chen and Daniel Ernst share their insights in our latest podcast episode.
In their latest Credit Quarterly Outlook, Robeco’s Credit team explains that rates and recession fears are the main drivers of this cycle.At times like these it’s critical to know your assets, as risks as well as opportunities will be inevitable. Erik Keller, Client Portfolio Manager for Credit at Robeco, outlines the team’s views.
The idea that the typical investment portfolio can be constructed with a 60% allocation to equities and a 40% exposure to bonds has paid off for number of decades, with very few exceptions. Last year happened to be one of those exceptions: the diversification effect broke down spectacularly, and the so-called 60-40 portfolio generated losses. Is it time to ditch the 60-40 concept altogether, or does it simply need a revamp?
Podcast 'In tune with the markets' – Episode 6: 'Jai Ho!'
A new episode of Robeco’s biweekly podcast that makes sense of the latest market moves – with a musical twist. Tune in to hear the latest from Portfolio Manager Arnout van Rijn.
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The expectation had been that banks would enjoy the fruits of finally exiting zero interest rate policies. While that has been the case, the tremendous pace and extent to which rates have risen over the past year have highlighted some weaknesses in the system. In this context, what are investors’ assessment of the banking sector? In our latest podcast, portfolio manager Patrick Lemmens and senior credit analyst Jan Willem Knoll give their views on the sector.
This is a trailer. Full new episode out now: https://www.robeco.com/en-int/insights/2023/04/podcast-in-tune-with-the-markets-mahna-mahna
Robeco’s biweekly podcast that makes sense of the latest market moves – with a musical twist. Tune in to hear the latest from Portfolio Manager Arnout van Rijn as he covers the latest in global banking, central bank action and what to watch in the week ahead.
Markets are still nervously eyeing the risk of a recession. Turmoil in the banking sector has added to the jitters. What will central banks do, and how should credit investors be positioned? In their latest Credit Quarterly Outlook, Robeco’s Credit team says they’re ready to buy on the dips, but with some very specific preferences. Erik Keller, Client Portfolio Manager for Credit at Robeco, outlines the team’s views.
Asia-Pacific is touted as a region vibrant with opportunity, thanks to its demographic advantage, catch-up growth and technological prowess. But investors remain wary of some of the obstacles, such as uncertainty about China’s role as an economic powerhouse and, more broadly, the difficulty of investing in a region made up of highly distinct markets. Thu Ha Chow, Head of Fixed Income Asia, and Joshua Crabb, Head of Asia-Pacific Equities, discuss their approach to the region.
Podcast 'In tune with the markets' – episode 3: 'I will survive'
A new episode of Robeco’s biweekly podcast that makes sense of the latest market moves – with a musical twist. Tune in to hear the latest from Portfolio Manager Arnout van Rijn as he covers the latest in global banking, central bank action and what to watch in the week ahead.
Podcast 'In tune with the markets' – episode 2: 'The Power'
Arnout van Rijn: Central banks are still a major theme. The question is: how far are they willing to go, and what will it look like when markets snap. Meanwhile, equity markets remain relentlessly bullish, with cyclical stocks leading the charge. And China growth might be slowing, but it’s still got the power – as does President Xi Jinping.
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Karin van Baardwijk has been Robeco’s CEO for just over a year now – a period that coincided with what turned out to be a perfect storm for asset managers. A war, a drastic shift in the direction of central bank policy, and negative returns across most asset classes kept investors focused and humble. We talked to Karin about what these events mean for the asset management industry, and how to position for the future. Listen to the conversation.
There were few places for investors to hide in 2022, as weakness spread across all asset classes. Factor investing strategies, by contrast, provided some refuge: their resilience in down-trending markets confirmed their comeback. So, it’s a good time now to take stock of what’s going on in the world of quant and factor investing. Tune in and listen to Weili Zhou, head of Quant Equity Research, and David Blitz, Chief Quant Researcher.
There’s agreement that measures to halt and reverse biodiversity loss are now critical. But is this enough to move key role-players into action? That includes the investment community, which is already dealing with macro-economic worries, regulatory demands and many competing priorities in the realm of ESG issues. This is especially topical in light of COP 15, which recently took place in Montreal. Peter van der Werf, Senior Manager for Engagement at Robeco, and special guest Simon Zadek, Executive Director of NatureFinance, give their views in our latest podcast.
2022 has been a year of records for bond investors. In the first six months, the fixed income asset class clocked its worst performance since 1788. And, unusually, bonds have weakened at the same time that equity markets got hammered. In this episode we take a look at a segment of the fixed income market: high yield corporate bonds. Here too, new records have been set.Never before have there been two consecutive years of negative total returns in high yield. Investors are now wrestling with the question of whether this is the low point for high yield. Our guests are two veterans in the field, portfolio managers Sander Bus and Roeland Moraal.
Value has proven over the past two years that it’s not dead, after all. The rotation away from growth stocks towards value that started in November 2020 continues. But it’s been in fits and starts. And, let’s face it, the market mood now is tense, fickle and unsure. Will it be smooth sailing for value strategies from here onwards? Jay Feeney is CEO and CIO of Boston Partners, the US-based investment house focused on fundamentally driven value investing.
It’s been a gruelling year so far for financial markets, including for equities. And sustainable indices have had it even harder, having underperformed the overall equity market. Critics of sustainable and ESG investing have been emboldened by these recent market developments, arguing that doing good seems to equate to losing money. We ask portfolio managers Chris Berkouwer and Michiel Plakman if the field of sustainable investing is now facing a reckoning?
It has been hailed as the next frontier in quant investing. Using artificial intelligence, algorithms and vast volumes of new data types to explore untapped sources of returns sounds intriguing. Especially when times are uncertain, and alpha is evasive. But is this hype, false hope or real opportunity? We discuss these questions with three of our experts. Tune in.
A year ago today, the scope for growth stocks – and particularly tech-related growth companies – still seemed boundless. But, the recognition that higher inflation is not so transitory after all, and the clear signaling from central banks that interest rates will ratchet up, appear to have given growth investors a run for their money. Jack Neele and Richard Speetjens discuss the matter in our latest podcast episode.
Rising inflation has become a growing concern for consumers around the world. It’s also wreaked havoc in financial markets, owing to fear and uncertainty about what happens next with interest rates, prices and economic growth. This after central bankers and analysts have been reassuring consumers and investors for nearly two years that they need not fear rising prices. We discuss the topic with Rikkert Scholten and Bob Stoutjesdijk.
Tune in to Robeco’s podcasts in which our experts succinctly explain the latest developments in everything from quantitative and sustainable investing, to trends and emerging markets.
There’s far more to real estate than ‘location, location, location’, and investors are taking note. Amid volatile market conditions, listed real estate has outperformed general equity over the past year. This is not without challenges, though, particularly on the sustainability front: the property sector churns out some 40% of global greenhouse gases. Listen in as Frank Onstwedder and Folmer Pietersma tell us all about it.
Emerging markets look extremely cheap. But are they cheap for a reason? We bring some 70 years of investment experience to the table to discuss the risks and opportunities that emerging markets offer in these volatile times. Tune in to our latest podcast episode.
Investors have grown to recognize the importance of having a say in how their capital is used. Butconducting successful engagements with companies is an art, say Robeco’s active ownership experts Daniëlle Essink, Laura Bosch and Robert Dykstra. Tune in to hear them share their insights on the topic.
New Robeco research confirms that investors’ behavioural biases have been around since the days of the American Wild West. Guido Baltussen and Pim van Vliet talk about the mammoth task of building a database going back to the 1860s, and what it means for investors. Listen in to the conversation.
With Russian tanks rolling into the suburbs of Kyiv, what should investors do? Wim-Hein Pals, head of Emerging Markets Equities, talks about keeping calm in a crisis, and the impact the conflict might have on various sectors and regions. Tune in to hear it all.
How tough will 2022 be for investors? What will it take to successfully navigate volatile market conditions, with very little in financial markets, central bank policy and fiscal action being business as usual? Robeco's CIO Victor Verberk and Mark van der Kroft discuss the tricks of the trade in our latest podcast.
With current market valuations now exceeding those of 1929, and even of 1999, the term ‘peak insanity’ is coined. Arnout van Rijn, CIO Asia Pacific, is less concerned. “It is not as bad as 1999. It's just a small segment of the market that is really at multiples that are hard to defend. The bigger segment of the market that now trades at relatively elevated multiples are just healthy cash flow-positive stocks that the market is willing to pay up for because of the TINA argument – ‘there is no alternative’.
The wave of inflows continues into ESG-focused funds and impact-targeting strategies. But what lies behind the impressive product labels and glossy marketing materials? What does it truly take to identify to build sustainable investment portfolios? Rachel Whittaker, Head of SI Research, discusses the latest thinking in this field.
In our latest podcast, we discuss China’s challenges – from property to power shortages. We also zoom in on China’s ambition as it moves from a trade war to a tech war with the US. "The rivalry will only intensify," says Jie Lu, Head of Investments China. Tune in for more fascinating insights.
While many quant equity strategies have struggled over the past few years, the performance of quant credits has been robust. Patrick Houweling, Co-head of Quant Fixed Income, talks about the tricks of the quant trade, how his team is integrating sustainability into models, and the potential impact of a rise in inflation. Tune in to our latest podcast episode.
A fundamental shift is occurring in how and where the internet is used. Investors could be caught out by who the real winners are in this transition, according to Robeco portfolio managers Bryan Satterly and Michiel van Voorst. They explain why in our latest podcast.
More and more investors say they choose their fund manager based on their sustainability credentials. But is the industry ready for this fundamental shift towards ESG and impact investing? In our latest podcast, Masja Zandbergen, Robeco’s head of sustainability integration, discusses what it takes to keep up the pace. She also tackles some hot topics in ESG investing, including activism, health and biodiversity
Value stocks are in revival – this after what seemed like an endless run of underperformance relative to growth stocks. But, is this the long-awaited value rotation? Andhow big is the opportunity from here onwards? David Cohen is portfolio manager for the Boston Partners Large Cap Value strategy and our guest in our latest podcast episode. Tune in
It’s never a dull moment in the asset management industry. Innovation, market swings, increasing regulatory pressure, the rotation from growth to value and, of course, the growing importance of climate investing solutions, are among the pressing themes in the industry. Each change and challenge offers opportunity to excel. Chief investment officer Mark van der Kroft discusses these topics – and more – in our latest podcast episode. Tune in.
It’s inevitable that the forceful fiscal stimulus and exceptionally loose monetary policy currently in place will result in higher inflation. But, say Rikkert Scholten and Bob Stoutjesdijk, portfolio managers in the Robeco Global Macro Fixed Income team, the impact will be temporary. “There are a number of very strong secular forces keeping inflation in check”. Tune in to hear why they’re not falling for the inflation fearmongering.
“The more you read about climate change, the more worried you become”, says Carola van Lamoen, Head of Sustainable investing. However, “mankind is hugely creative, and we can live up to the challenge”, says Climate Strategist Lucian Peppelenbos. The two experts discuss the risks and opportunities of climate change for asset managers in our latest podcast episode. Tune in.
Keep questioning the consensus in 2021, do your research and stay contrarian, says Victor Verberk, Robeco’s CIO Fixed Income, in our latest podcast episode. “Bond yields are controlled, independence of central banks is out of the window. Joe Biden is going to print another USD 2 trillion in stimulus and the Fed will finance it. It’s a concerted effort to keep the economy going.” To go back to normal, we do need defaults, though, he says. Tune in.
Will value stocks make a comeback in 2021? Robeco’s Chief Quant Researcher, David Blitz, acknowledges that mean reversion isn’t always inevitable. And if it does occur, it’s difficult to predict the timing. “It will take a change of investor sentiment. But valuations cannot be detached from fundamentals forever.” Listen to the full podcast.
With several vaccines on the way, 2021 promises to be a great year for equities. Earnings could reach double-digit growth and the trend of underperformance in value stocks could grind to a hold, say Jeroen Blokland and Peter van der Welle in our latest podcast episode. It’s also a time for non-US stocks to outperform their US equivalents. Tune in to hear it all.
Covid-19 seems to have increased the speed at which trends are changing our world. Share prices of companies related to ecommerce and digitalization have surged. “The stock market is known for exaggerating every now and again, and certainly we have seen some really outrageous moves in stock prices. But there is still no reason to think that stocks should go down dramatically,” Steef Bergakker and Sam Brasser claim in our latest podcast episode. Tune in to hear the full story.
Central banks are navigating through unchartered territory. “The longer you have negative interest rate policies, the harder it will become to offset the negative side effects and to retain the positive effects of it,” says Martin van Vliet, strategist in the Global Macro team. But the Fed and BoE are still very reluctant to cross the Rubicon into below-zero rates, he argues. Meanwhile, since the money being created is not pursuing goods, the risks for inflation are well within control. Tune in.
Value has underperformed growth in the large-cap space by 43% in the past year. “The pressure on value investors to reevaluate and potentially discard their philosophy and change their processes is immense,” says Jay Feeney, CEO and CIO of Boston Partners.
Arnout van Rijn has been investing in Asia for 25 years; for more than half of this time, he has lived in Hong Kong. His experiences have taught him to embrace Daniel Kahneman’s advice to be skeptical, trade little and be patient. In this podcast episode, Arnout talks about life in Hong Kong, the lagging performance of value stocks and the digitalization race between the east and the west. Tune in.
Is rebuilding the global economy after Covid-19 an opportunity to fundamentally reboot economic systems? Proponents of the circular economy – which now accounts for 9% of the world economy – certainly think so. In our latest podcast episode, we discuss the circular economy with portfolio manager Holger Frey. Tune in.
Is Value broken? Does a decade of disappointing performance mean that a factor has ultimately failed? The ‘lost decade’ for classic Fama-French factors like Size and Value raises some tough questions for quant researchers and portfolio managers. David Blitz and Pim van Vliet discuss a number of hot quant topics in our latest podcast episode.
“This crisis is different from previous ones because our investment teams have to deal with it by working remotely.” Almost four weeks since Covid-19 caused Europe to lock down and financial markets to fall sharply, Robeco’s Head of Investments, Peter Ferket, talks about the challenges of lack of liquidity in credit markets, outflows, and the long-term implications for the economy and the asset management industry.
Is it just part of a greenwashing scheme or is it a crucial element in an integrated sustainable investing approach? Active ownership (engagement and voting) is a useful tool for investors to help companies be more sustainable but it also leads to better-informed investment decisions, say Carola van Lamoen and Peter van der Werf. A podcast masterclass on active ownership with two of Robeco’s experts.
“If you wake up and see -6%, you know what kind of day it is going to be.” In our latest podcast, Jeroen Blokland, head of Multi Asset, talks coronavirus and oil price war. “I do not think we are going to see a V-shaped recovery, but a U-shaped recovery is still possible.” Blokland still feels comfortable being underweight in risky assets. For now, the real safe have seems to be US Treasuries, he says. Tune in.
If we start investing much more towards the long term, and to sustainable solutions, things will go very, very quickly, says Robeco CEO Gilbert Van Hassel. In our latest podcast episode, he describes the industry as being in a period of soul searching and that asset managers are needing to make deliberate choices about positioning for the future. “If you focus on sustainability, you are going to be a better asset manager”
If investors ignore the challenges the SDGs represent, future growth will be much lower and much more erratic than it has been in the past. This will have an impact on valuations and, ultimately, the returns investors make, warns Take Wiersma, co-head of Credit Research, in our latest podcast episode. Wiersma discusses the opportunities that incorporating the SDGs into credit strategies offer and the process used at Robeco to assess the contribution companies are making to the achievement of these global objectives.
Various index providers are increasing the weight of China in their indices. For institutional investors, this poses a dilemma. Should they blindly follow this move, thereby taking on increased portfolio risk? Strategist Jaap Hoek discusses this topic in our latest podcast episode. Inclusion of a stock or country in an index usually leads to higher prices. If you enter the Chinese stock market now, you might be a bit late – but not too late, Hoek argues.
“The only way to create alpha is to deviate from the benchmark. Increasing the active share enhances the portfolio without increasing the volatility – at least the way we did it.” In our latest podcast, portfolio manager Jan Keuppens discusses the quest for alpha. He talks about the major changes one of the Robeco flagship funds underwent in order to stand the test of time.
In our latest podcast, portfolio manager Jack Neele talks about the tricks of the trade in trends investing. Valuation of many of the growth stocks obviously is one of the challenges. “The valuation of our portfolio is much higher than the market, but we think that’s justified.” Neele also talks about new trends he sees developing and what would be the right moment to invest in these trends.
In our latest podcast, Core Quant portfolio manager Machiel Zwanenburg discusses the need for sustainability building blocks to suit different client needs. “If a client is looking for a tailor-made solution, we can provide the building blocks or even develop new ones with them. Everyone is looking to increase their returns, but with sustainability it really depends who you’re talking to. So it’s important to have building blocks to hand.”
Peter Ferket, CIO, discusses the disruptive trends in the asset management industry, the race to zero costs being one of them. “If you buy cheap solutions, you ultimately end up with lower net returns.”
In our latest podcast, Pim van Vliet, head of Global Conservative Equities, talks about the merits of low volatility investing. He also discusses the flipside: the relative risks of low volatility, the long-term approach investors need to take and how he got convinced by the concept the hard way. “You will never be top of the list and will not be able to brag about your investment performance at cocktail parties.
In our third podcast, Fabiana Fedeli, head of Global Fundamental Equities, talks about emerging markets. And she is optimistic about the US-China trade war. “Six months ago the world was convinced there would be no solution. There is going to be a solution – it may not be perfect – but that solution will be enough to make markets a little bit more relaxed.” However, investing in emerging markets does take nerves of steel at many occasions, she adds.
In the second episode of Robeco Podcast, David Blitz (Head of Quant Research) discusses the latest trends and challenges in factor investing with podcast host Sam Shaw. They talk about different factors and about capacity and transparency of quant strategies.
In this first episode of the new Robeco podcast, Sam Shaw is joined by Daniel Wild, co-CEO of RobecoSAM on the current trends in sustainable investing: 'Millennials want their investments to reflect their environmental and social beliefs'.