Our Research team produces in-depth thematic and sector reports, connecting environmental, social and governance issues with industry and equity market analysis to identify investment opportunities and risks at the sector level. Our equity strategy work informs our asset allocation decisions, and we use our thematic work to engage asset managers in an ongoing dialogue on critical investment issues.
February 13, 2019
Sustainable Protein: Investing for Impact at the Nexus of Environment, Human Health and Animal Welfare
Zero HungerGood Health and Well-BeingClean Water and SanitationAffordable and Clean EnergyIndustry, Innovation and InfrastructureResponsible Consumption and ProductionClimate ActionLife Below WaterLife on Land

Sustainable Protein: Investing for Impact at the Nexus of Environment, Human Health and Animal Welfare

Advances in agricultural technology, changes in human diet, and rising awareness of the environmental destruction caused by factory farming are accelerating the rise of sustainable protein. Investors can target…

June 5, 2017
Global Equity Outlook: A Global Earnings Rebound

Global Equity Outlook: A Global Earnings Rebound

Executive Summary Climbing Out of the Trough. In the US, the Europe/Australasia/Far East (EAFE) region and in Emerging Markets, earnings seem on track to keep climbing out of the 2016 trough.…

April 3, 2017
Global Earnings Synthesis: Earnings Growth Likely to Determine the Direction of Stock Prices in 2017

Global Earnings Synthesis: Earnings Growth Likely to Determine the Direction of Stock Prices in 2017

Executive Summary 2017 Estimates Still Seem Overly Optimistic. While the initial estimate of 2015 earnings was below the initial estimate of 2014 earnings, and the initial 2016 estimate was below the…

March 9, 2017
Regional and Sector Strategy Monthly Update: March 2017

Regional and Sector Strategy Monthly Update: March 2017

Executive Summary Sector Strategy: Upgrade Information Technology (strong relative earnings momentum outweighs rich valuation); Downgrade Utilities (weak relative earnings momentum). Financials remains the most favored sector; Health…

January 19, 2017
Gauging Governance Globally: 2017 Update

Gauging Governance Globally: 2017 Update

Executive Summary A Governance Update — We update the analysis in our 2014 and 2015 reports with data for 2016. A Modest Improvement in Governance — The percentile ranking of…

January 9, 2017
Sector and Regional Strategy:  Monthly Update January 2017

Sector and Regional Strategy: Monthly Update January 2017

Executive Summary Regional Strategy: Upgrade UK; Remain Positive on Russia. This month the UK is being upgraded, largely reflecting a continued improvement in earnings momentum. In contrast to Russia —…

December 8, 2016
Regional and Sector Strategy Monthly Update: December

Regional and Sector Strategy Monthly Update: December

Executive Summary Sector Strategy: Reflationary Revisions… Given the outlook for reflation and reduced regulatory oversight that has taken hold in the US following the recent elections, we are fine-tuning our sector strategy.…

October 14, 2016
Global Earnings Synthesis: Single-Digit Earnings Gains in 2017 Could Imply a Single-Digit Gain in Equity Markets

Global Earnings Synthesis: Single-Digit Earnings Gains in 2017 Could Imply a Single-Digit Gain in Equity Markets

Executive Summary 2017 Estimates Seem Overly Optimistic. Consensus estimates currently imply a 31% gain in global earnings in 2017. Annual earnings growth has not exceeded 13% in any of the…

October 6, 2016
Regional and Sector Strategy Monthly Update: October 2016

Regional and Sector Strategy Monthly Update: October 2016

Executive Summary Sector Strategy: Neutral. We are Neutral on every sector but one. By our methodology, the majority of sectors are closely grouped in ranking. In some instances, a…

September 7, 2016
Sector and Regional Strategy Monthly Update: September

Sector and Regional Strategy Monthly Update: September

Executive Summary Maintain a Cautious Sector Strategy. The majority of sectors continued to experience downard revisions to estimates, so that expectations are for just lackluster earnings growth. Most valuations remain…

August 8, 2016
Sector and Regional Strategy: Monthly Update – August

Sector and Regional Strategy: Monthly Update – August

Executive Summary An Even More Cautious Sector Strategy. Downgrade Consumer Staples, Health Care and Utilities to Underweight from Neutral. These defensive sectors face the unfavorable combination of unattractive valuations and…

July 22, 2016
Global Earnings Synthesis: Consensus 2016 Estimates Have Been Falling; 2017 Estimates Look Too High

Global Earnings Synthesis: Consensus 2016 Estimates Have Been Falling; 2017 Estimates Look Too High

Executive Summary A Sharp Drop in 2016 Estimates. Consensus estimates for 2016 global earnings have fallen sharply since the start of the year. Nevertheless, many stock markets globally have performed…

July 6, 2016
Sector and Regional Strategy: Monthly Update

Sector and Regional Strategy: Monthly Update

Executive Summary Sector implications of Brexit fallout . Uncertainty likely to prevail globally, at least until U. S. presidential election. Major corporate and consumer spending decisions potentially…

June 2, 2016
Regional and Sector Strategy: Monthly Update

Regional and Sector Strategy: Monthly Update

Executive Summary Upgrade U. S. to Overweight from Neutral. Earnings estimate revisions turned sharply positive, adding to other favorable fundamentals including margins, share buybacks. Information Technology: Still Neutral;…

May 26, 2016
An Atypical Analysis of Industry Risks

An Atypical Analysis of Industry Risks

Executive Summary Intangible Factors Can be Material Too. Most investors focus on tangible income statement and balance sheet items, but intangible factors can be material too. Analyzing Intangible Factors at…

Results 1-15 of 15