Climate Change and Investment Implications

The World Economic Forum recently ranked risks associated with climate change the second biggest risk globally in terms of potential impact. The question for investors is: How does climate change impact my portfolio? ACG describes the environmental and economic impacts, as well as implications for investors.


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Growing Dispersion in Credit

Lower-rated credit has been a notable laggard year-to-date. While spreads and yields for higher quality issues continue to compress, spreads and yields for the lowest quality issues have increased. ACG examines the causes of this dispersion, opportunities, and factors to keep in mind.

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Investing and Politics

Americans frequently view economic conditions through a political lens, for better or worse. However, markets are driven by fundamentals over long periods of time - not politicians. ACG examines the different factors influencing markets and why modifying investment portfolios based on political views can be hazardous to returns.

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A Bubble in Index Funds?

Substantial inflows into passive funds over the last decade have led to speculation that a bubble is forming.  The lack of security-level analysis when investing in passive funds suggests stock prices are being distorted by record inflows.  ACG reviews the historical data, including recent market dislocations, and identifies whether a tipping point has been reached.
 

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