Insight Investment

"Despite concerns around inflation and geopolitics, the global economy continues to show impressive resilience. Corporate earnings have been exceptionally strong with double digit earnings growth in the US and Europe. Critically this is being driven by revenues, suggesting that the economy continues to expand at a healthy pace. While risks remain, particularly around energy prices and geopolitical tensions, we believe the underlying growth backdrop remains supportive for risk assets for now. As far as fixed income is concerned, we believe this is likely to keep investors allocating towards credit markets, despite expensive valuations and increased supply." Adrian Grey, Global Chief Investment Officer For professional investors only. Investing involves risk.

Senior Roundtable Die geschlossene Diskussionsrunde widmet sich strategischen und praktischen Fragen rund um Kapitalanlage, Regulierung und Versorgung. Nach der Begrüßung durch Frank Diesterhöft (Insight Investment) erwarten Sie drei Fachvorträge: Dr. Ulrich Gerhard (Senior Portfoliomanager High Yield, Insight Investment) gibt Insights in den Markt für Hochzinsanleihen – von der verbesserten Emittentenqualität über attraktive Renditeniveaus bis zu den Trends bei Qualität, Rendite und Ausfallraten der kommenden Jahre. Tanja Hahlen (Vorständin Pensionskasse für die Deutsche Wirtschaft (PKDW)) spricht über den Gender Pension Gap – wie er entsteht, warum viele Lösungsansätze bislang scheiterten und welche Weichen Arbeitgeber, Versorgungseinrichtungen und Politik heute stellen können. Dr. Andrius Bielinis (Clifford Chance) beleuchtet aktuelle Entwicklungen in der Kapitalanlage durch Versorgungseinrichtungen – vom Fondsrisikobegrenzungsgesetz über die Neufassung des „Kapitalanlagerundschreibens“ bis zu Liquiditätsmanagement-Tools. Im Anschluss vertiefen wir die Themen in einer gemeinsamen Diskussionsrunde – die Runde bleibt bewusst klein, um den offenen und vertraulichen Austausch zu fördern. Datum: Donnerstag, den 22. Oktober 2026 Zeit: 14:00 - 16:30 Ort: Insight Investment - MesseTurm, Friedrich-Ebert-Anlage 49, 60327 Frankfurt am Main Teilnehmer: Vertreter von Einrichtungen der betrieblichen Altersversorgung, berufsständischen Versorgungseinrichtungen sowie Corporates. Weitere Informationen und Anmeldung unter folgendem Link: https://lnkd.in/eF9xDUHs Das Team der @Pensions-Akademie freut sich auf einen spannendes DORA Seminar Andreas Fritz, Jürgen Scharfenorth, Frank G. Vogel, Christian Schneider, CEFA, Jana Desirée Wunderlich, Laura Joanna Leithold, Leonard Ronig, Dr. Jan H. Grabbe, Weßling Paul #Resilienz #Transformation #Impact #Nachhaltigkeit #energiewende #bav #altersvorsorge #infrastruktur #seniorroundtable #AI #KI #DORA

"One of the most striking features of the current environment is the strength of the corporate sector. Businesses continue to invest, profits are growing at a robust pace and earnings have surprised to the upside across multiple regions. In our view, corporate resilience is one of the strongest arguments against recession fears." Erin Spalsbury, Head of US Investment Grade Credit For professional investors only. Investing involves risk.

"US government debt levels remain elevated and there is little evidence that policymakers are willing or able to materially address that issue over the next several years. In that environment, a higher inflation risk premium appears more likely than a lower one. This is one reason why we continue to believe inflation-linked assets are fundamentally cheap in the US and several other markets. While inflation has recently eased in many regions, the underlying fiscal backdrop argues, in our view, for a higher inflation premium over time." Jessica Shuman, CFA, Senior Investment Specialist For professional investors only. Investing involves risk.

"Credit spreads may be tight, but higher underlying yields continue to provide a powerful cushion against market volatility. Over the past 18 months, investors who positioned defensively have repeatedly been challenged by resilient growth, healthy corporate fundamentals and the strength of carry. In our view, the income available today remains attractive enough to justify staying invested despite richer valuations." Brendan Murphy, Head of Fixed Income, North America For professional investors only. Investing involves risk.

"In the past, monetary policy dominated currency markets. Today, we are seeing a broader set of return drivers. We are observing that countries with stronger growth, healthier fiscal positions and more supportive terms of trade are typically performing well, which can potentially create attractive opportunities. In our view, foreign exchange remains one of the few markets where valuation, macroeconomic fundamentals and policy divergence can all combine to generate differentiated sources of return." Francesca Fornasari, Head of Currency For professional investors only. Investing involves risk.

"Markets continue to anchor valuations around the assumption that government bonds represent the risk-free benchmark. However, in a world of rising sovereign debt burdens, we believe that assumption deserves closer scrutiny. History has shown that highly rated corporates, supranationals and agency issuers can occasionally trade through government bonds, and we are already seeing examples of that today. As fiscal risks become more prominent, investors may need to reassess whether yesterday’s valuation frameworks remain fit for tomorrow’s markets." April LaRusse, Head of Investment Specialists For professional investors only. Investing involves risk.

"In our view, high yield emerging market corporates remain one of the more compelling opportunities in credit markets. Attractive absolute yields, favourable valuations relative to developed market high yield and a backdrop of negative net issuance continue to support the asset class. With demand competing for a shrinking pool of bonds, we believe spread tightening remains a realistic prospect, while investors can benefit from strong carry as they wait. The market's resilience this year, despite a stronger US dollar and elevated geopolitical risks, underscores the strength of these fundamental and technical drivers." Rodica Glavan, Head of EM Corporate Fixed Income For professional investors only. Investing involves risk.

"Tariffs are increasingly looking like a structural feature of US economic policy rather than a short-term negotiating tactic, as trade policy shifts from executive action to a more durable legal framework. The administration’s willingness to deploy new and largely untested trade tools underscores its determination to advance its agenda ahead of the midterms. While the political window for major unilateral action may be narrowing, trade policy uncertainty remains firmly in place." Emin Hajiyev, Senior Economist, Global Macro Research For professional investors only. Investing involves risk.

"Valuation differences across sectors continue to dominate investment grade credit discussions, with technology standing out as cheap versus sectors such as capital goods. We believe the challenge is that the AI infrastructure build-out suggests there will be substantial issuance, and further spread widening could erode the sector’s yield advantage. Although technology has grown as a proportion of major indices this year, its overall weight remains modest. We therefore remain selective, focusing on the largest issuers and retaining a small overweight until either valuations become substantially more attractive or new issuance starts to ease." Erin Spalsbury, CFA, Head of US Investment Grade Credit For professional investors only. Investing involves risk.