L&G Talks Asset Management
Episodes
307: The what, why and how of commodities – LGIM explains
08 Feb 2024
Contributed by Lukas
What are broad commodities? Why might an investor want to gain exposure to them as part of a diversified portfolio? And how does the use of futures co...
306: Lunar New Year – Market Talk special
01 Feb 2024
Contributed by Lukas
With many countries about to celebrate the Year of the Dragon, Ben Bennett explains why animal spirits have yet to ignite China’s stock market. He a...
305: In conversation with Rhodri Mason
25 Jan 2024
Contributed by Lukas
In any company, the role of Chief of Staff is an integral part of its daily dealings, although the duties themselves can often be more supportive of o...
304: Macroeconomics, solutions and asset allocation – the CIO call
18 Jan 2024
Contributed by Lukas
In this podcast, Sonja Laud, LGIM’s CIO, is joined by Guy Whitby-Smith, Head ofSolutions, and John Roe, Head of Multi-Asset Funds, who share their i...
303: Charting real assets in 2024 and beyond
12 Jan 2024
Contributed by Lukas
After a dramatic 2023, what could 2024 hold for investors in real assets? And what are the key megatrends that will determine performance, both for t...
302: Rallies, Red Sea disruption and Taiwanese elections – Market Talk
04 Jan 2024
Contributed by Lukas
In this first episode of Market Talk for 2024, Ben Bennett examines the extent to which bonds and equities rallied following December’s Fed pivot. H...
301: Active Fixed Income outlook: 2024
18 Dec 2023
Contributed by Lukas
Bond investors have enjoyed a strong rally over the last two months. But, as we approach 2024, will the optimism for fixed income investments continue...
300: How we’re preparing for 2024 – the CIO call
14 Dec 2023
Contributed by Lukas
In our last CIO call of 2023, we discuss what we’ve learnt from yet another extraordinary year for investors – and how we’re positioning into 20...
299: What will 2024 bring? Market Talk
07 Dec 2023
Contributed by Lukas
In the last episode of Market Talk for the year, Ben Bennett looks at how fixed income might pan out in a recessionary macroeconomic environment. With...
298: Will illiquid investments help or hinder DC pensions?
01 Dec 2023
Contributed by Lukas
Illiquid assets may be the talk of the DC town right now, but how can we use them to help maximise long-term returns for members, mitigate potential r...
297: What does the term ‘cashflow-driven investing’ actually mean?
30 Nov 2023
Contributed by Lukas
Although many schemes have seen their funding positions improve steadily in recent years and endgame is on the horizon, all defined benefit (DB) schem...
296: COP28: What to watch for
27 Nov 2023
Contributed by Lukas
With the earth on track for its hottest year on record, and the COP28 summit due to open later in November, we’ve devoted this month’s CIO call t...
295: US CPI, oil and the ‘Magnificent Seven’ – Market Talk
16 Nov 2023
Contributed by Lukas
Is the recent rally in bonds and equities, on the back of the latest US CPI numbers, wholly justified? And why is the oil price relatively subdued? Fu...
294: Are companies really making progress on ESG?
09 Nov 2023
Contributed by Lukas
Ahead of the publication of a major study of long-term ESG trends, LGIM’s Head of Index Solutions Fadi Zaher discusses the biggest findings from the...
293: What AI means for investors
02 Nov 2023
Contributed by Lukas
The explosive launch of ChatGPT in late 2022 highlighted the immense potential of artificial intelligence. In our latest CIO call, we discuss the impl...
292: Higher yields, China stimulus and Singapore bound – Market Talk
26 Oct 2023
Contributed by Lukas
In this episode, Ben Bennett, Investment Strategist APAC, explains what’s behind the lurch higher in bond yields and how that’s impacting other as...
291: How could UK real estate perform after repricing?
19 Oct 2023
Contributed by Lukas
This week LGIM Talks sits down with Bill Page, Head of Real Estate Research at LGIM Real Assets. As in many markets, British real estate has been u...
290: Spotlight on strategic bonds strategies
13 Oct 2023
Contributed by Lukas
In this episode, LGIM fund managers Matthew Rees and Francis Chua discuss the evolution of strategic bond strategies and what’s in store in the futu...
289: Bond jitters, heightened vol, crowding out – Market Talk
05 Oct 2023
Contributed by Lukas
Against a background of heightened volatility and bond market jitters, in this episode, Ben Bennett, discusses the possible reasons behind the sharp r...
288: What do ‘higher for longer’ rates mean for markets?
28 Sep 2023
Contributed by Lukas
Following a momentous month for central banks, Sonja Laud, LGIM’s CIO, discusses with her expert panel whether we’ve reached peak interest rates a...
287: Positively charged: lithium and the electric vehicle revolution
21 Sep 2023
Contributed by Lukas
Batteries have a critical role to play in the transition to net zero, with the rapid rise of electric vehicles demonstrating how far the technology ha...
286: Stagflation, Japan and typhoons - Market Talk
14 Sep 2023
Contributed by Lukas
With China experiencing deflation, and as Europe starts to encounter sticky inflation and slowing growth, is the US the only bright spot in the global...
285: How LGIM votes: lifting the lid on AGM season
11 Sep 2023
Contributed by Lukas
With AGM season wrapped up for companies around the world, our Investment Stewardship experts discuss how LGIM voted on key issues in 2023. LGIM’...
284: In Conversation with… Andrzej Pioch
07 Sep 2023
Contributed by Lukas
To celebrate 10 years of LGIM’s Multi-Index strategies, we catch up with fund manager Andrzej Pioch who shares his career story, achievements and le...
283: US jobs data, Chinese equities and high yield
04 Sep 2023
Contributed by Lukas
Why were investors happy with the latest US jobs data? Have we reached ‘peak pessimism’ in terms of Chinese equities? And what are generous yields...
282: Biodiversity and why we haven’t hit ‘peak ESG’ – the CIO call
01 Sep 2023
Contributed by Lukas
Why does biodiversity loss pose material risks to investors – and what are we at LGIM doing about them? In our latest CIO call, hosted by Sonja La...
281: The power of partnerships: Endgame Solutions and Pension Risk Transfer
29 Aug 2023
Contributed by Lukas
In this latest edition of LGIM Talks we take a road trip over to our partners in Legal & General’s Pension Risk Transfer (PRT) business, where R...
280: Happy holidays from LGIM Talks!
10 Aug 2023
Contributed by Lukas
We’re taking a short break from the pod but we’ll be back late August with more news and views from across our investment teams.
279: US rating downgrade, UK rates and a raft of data - Market Talk
03 Aug 2023
Contributed by Lukas
In this episode, Ben Bennett talks through the implications of the recent downgrade in US sovereign debt, further rate tightening from the UK and else...
278: UK interest rate rises – what do they mean for individuals, businesses and house prices?
27 Jul 2023
Contributed by Lukas
Having been the first major developed world central bank to raise interest rates in the aftermath of the COVID-19 pandemic, the last 18 months have se...
277: Quality time: what are quality equities, and how can investors gain exposure?
20 Jul 2023
Contributed by Lukas
ETF Analyst Elisa Piscopiello explains how quality is defined in systematic investment strategies, and how portfolios can be constructed to capture q...
276: Inflation prints, fiscal rules and the G20 – Market Talk
13 Jul 2023
Contributed by Lukas
Is the latest US CPI print a potential game changer for investors? Why aren’t credit spreads pricing in more recession risk? And why do Eurozone cou...
275: Public and private credit: the CIO outlook
05 Jul 2023
Contributed by Lukas
Sonja Laud, LGIM’s Chief Investment Officer, and fellow experts in the field of public and private credit, discuss implications for asset classes ag...
274: Artificial intelligence, investing, and you
29 Jun 2023
Contributed by Lukas
The last six months have seen an explosion of interest in artificial intelligence, with excitement around the technology almost single-handedly drivin...
273: From headaches to hedges: the role of an asset allocator
23 Jun 2023
Contributed by Lukas
With major asset classes no longer positively correlated, has calm been restored for the asset allocator? Or is persistent inflation still the cause o...
272: LGIM’s seventh Climate Impact Pledge
15 Jun 2023
Contributed by Lukas
LGIM’s Climate Impact Pledge is our promise to help investee companies tackle climate change and transition to a low-carbon economy. Our approach co...
271: US tightening, China easing - Market Talk
06 Jun 2023
Contributed by Lukas
Why is the US having to withdraw liquidity from the system? But why have the Chinese authorities taken to targeted stimulus? What’s the oil price an...
270: Real assets reset – the CIO call
01 Jun 2023
Contributed by Lukas
In this month’s call, Sonja Laud, LGIM’s Chief Investment Officer, outlines the next focus areas for investors going into the second half of 2023 ...
269: Debt ceiling, FAANGs and football pitches - Market Talk
23 May 2023
Contributed by Lukas
Against a backdrop of somewhat quieter markets, we ask what are short-term Treasuries telling us about debt ceiling negotiations? What’s behind the ...
268: Spotlight on European credit
17 May 2023
Contributed by Lukas
With bonds and equities falling in tandem, 2022 was an exceptional year for the financial markets. As we approach 2023’s halfway point, have we retu...
267: Blog on the pod: is water the most overlooked natural resource?
11 May 2023
Contributed by Lukas
It’s easy to take clean running water for granted, but climate change, population growth and infrastructure failings mean demand will increasingly o...
266: Central bank deluge, China and coronation quiche - Market Talk
04 May 2023
Contributed by Lukas
Against a background of macroeconomic uncertainty, are central bankers right to hike interest rates? Is China’s post-COVID recovery still on track? ...
265: Active ownership in action
25 Apr 2023
Contributed by Lukas
To coincide with the launch of LGIM’s 12th annual Active Ownership report, we discuss the depth and breadth of our work in 2022 on the issues of def...
264: Exploring emerging markets – the CIO call
20 Apr 2023
Contributed by Lukas
For this month’s call, CIO Sonja Laud is joined by two experts for an in-depth discussion on emerging market debt and equities. As the growth differ...
263: US employment, China credit and gold – Market Talk
13 Apr 2023
Contributed by Lukas
What are the latest jobs data telling us about the state of the US economy? How will US core inflation numbers shape Fed thinking? What’s behind the...
262: What does the term ‘buyout’ actually mean?
05 Apr 2023
Contributed by Lukas
With the backdrop of rising interest rates leading to lower pension scheme liabilities on average, many schemes have seen their funding positions impr...
261: Central banks, jittery markets and climate scenarios – the CIO call
28 Mar 2023
Contributed by Lukas
After two unscheduled CIO calls on developments in the banking sector, we return with a regular episode to take stock of the investment landscape, wit...
260: A balanced view of banking developments – Market Talk
24 Mar 2023
Contributed by Lukas
The last couple of weeks have seen investor nerves somewhat shredded. But why have equities proved more resilient than credit? And have central banker...
259: Banks, bondholders and the macro outlook
21 Mar 2023
Contributed by Lukas
We’ve held a second live webinar to discuss ongoing pressure on banks worldwide, underscored by the takeover of Credit Suisse* by UBS, which raise...
258: Banking sector stress – what do investors need to know?
17 Mar 2023
Contributed by Lukas
We’ve held a special live webinar with our clients to discuss the pressure on the global banking sector – and on European lenders in particular –...
257: Blog on the pod: how the market found a home for orphan drugs
16 Mar 2023
Contributed by Lukas
Innovative treatments are needed for those affected by rare conditions, but how do the economics stack up given the huge costs involved? Elisa Piscopi...
256: Curve inversion, credit and China
08 Mar 2023
Contributed by Lukas
With inflation as sticky as it is, bond yields are on the rise. But why isn’t credit following suit? And is China’s growth forecast for 2023 enoug...
255: Japan – dancing to a different tune?
02 Mar 2023
Contributed by Lukas
While Western economies continue to keep interest rates at elevated levels, it seems Japan’s fiscal expansion knows no bounds. So what’s behind th...
254: Ukraine, geopolitical risk and mispriced markets – the CIO call
23 Feb 2023
Contributed by Lukas
A year after Russia’s invasion of Ukraine, Sonja Laud, LGIM’s Chief Investment Officer, discusses what investors have learned about geopolitical ...
253: Mixed signals from the US and China as the Bank of Japan appoints a new governor – Market Talk
16 Feb 2023
Contributed by Lukas
After a strong start to year for both equities and credit in the US, has market sentiment become uncoupled from fundamentals? Why is China seemingly d...
252: Blog on the pod: What did we learn from the latest round of central bank action?
09 Feb 2023
Contributed by Lukas
LGIM’s Senior European Economist Hetal Mehta breaks down the latest round of rate hikes from the Bank of England, ECB and Fed. After a winter of glo...
251: Blog on the pod: ‘Tis the season
03 Feb 2023
Contributed by Lukas
Now that most companies have released their Q4 earnings statements Lars Kreckel, Global Equity Strategist in the Asset Allocation team, expands on his...
250: Rallies, soft landings and rate rises - Market Talk
31 Jan 2023
Contributed by Lukas
What’s behind the latest rise in equities, bonds and credit? Is the glass half-full or half-empty when it comes to forecasting a US recession? And a...
249: How to pick a third-party fund manager
26 Jan 2023
Contributed by Lukas
How does a fund manager pick a third-party fund manager? How important is performance, personality and positioning? In this episode, Justin Onuekwusi,...
248: In conversation with Colin Reedie
19 Jan 2023
Contributed by Lukas
LGIM’s Head of Active Strategies Colin Reedie is one of our most experienced investors. In this episode he breaks down his storied career, from his ...
247: Are we there yet?
12 Jan 2023
Contributed by Lukas
Sonja Laud, LGIM’s Chief Investment Officer, and her expert panel discuss the outlook for the global economy and key asset classes in 2023, in our f...
246: China reopening, falling US profits and dwindling European inflation – Market Talk
05 Jan 2023
Contributed by Lukas
Where did Santa get to at the end of 2022? How will China’s economy fare in light of the easing of its COVID restrictions? And what was behind Japan...
245: Real assets outlook
15 Dec 2022
Contributed by Lukas
To say real assets – most notably the areas of real estate equity and private credit – have endured a challenging year may be somewhat of an under...
244: Thematic investing: a look back on 2022 and our longer-term outlook
12 Dec 2022
Contributed by Lukas
Markets have been volatile in 2022, but how have thematic investments fared? And looking to 2023 and beyond, which thematic areas might take centre st...
243: What to expect in 2023 – the CIO call
08 Dec 2022
Contributed by Lukas
In our final CIO call of the year, Sonja Laud, LGIM’s Chief Investment Officer, discusses the key themes that have dominated 2022 for investors and ...
242: Looking back and looking forward – Market Talk
01 Dec 2022
Contributed by Lukas
Just how badly have asset classes performed in 2022? And where next for bonds, credit and equities given investors start 2023 with a decent yield cush...
241: In conversation with Richard Romer-Lee
24 Nov 2022
Contributed by Lukas
In this episode Richard Romer-Lee, CEO at Square Mile Investment Consulting & Research, chats with James Crossley, Head of UK Wholesale Distributi...
240: COP27 and the case against blanket divestments – the CIO call
16 Nov 2022
Contributed by Lukas
In this month’s episode, Sonja Laud, LGIM’s chief investment officer, discusses the key takeaways from the COP27 climate summit thus far. She als...
239: Swimmer Lewis Pugh on the climate crisis and coral
10 Nov 2022
Contributed by Lukas
Lewis Pugh, the endurance swimmer and UN Patron of the Oceans, discusses his recent swim to raise awareness of the threat posed by climate change to ...
238: Fed stays firm, China vol and US CPI – Market Talk
07 Nov 2022
Contributed by Lukas
Despite credit rallying in the hope of a US policy pivot, the Federal Reserve has reaffirmed its intention to keep a lid on inflation at all costs. Wh...
237: Q3 earnings: what we’ve learnt from the hits and misses
03 Nov 2022
Contributed by Lukas
In this episode Lars Kreckel, Global Equity Strategist, discusses the US Q3 earnings season and what it tells us about the state of the consumer and t...
236: Blog on the pod: liquidity, cycles and bubbles
27 Oct 2022
Contributed by Lukas
In this episode, Emiel van den Heiligenberg, Head of Asset Allocation, discusses why liquidity is so important for investors, where we are in the econ...
235: Healthcare technology: life-changing advances at the cutting edge
20 Oct 2022
Contributed by Lukas
Having lagged behind other sectors in its uptake of technology, healthcare could now have reached a pivotal moment. From AI and natural language proce...
234: US midterms vs markets – the CIO call
13 Oct 2022
Contributed by Lukas
Sonja Laud, LGIM’s chief investment officer, discusses how next month’s midterm elections might impact the US economic outlook and dollar assets m...
233: Fed whispers, Q3 earnings and US TIPS – Market Talk
11 Oct 2022
Contributed by Lukas
Why is there renewed talk of a possible policy pivot from the US Federal Reserve? What should investors be focusing on heading into Q3 results season?...
232: A sterling effort? Reviewing the fallout from the UK’s mini-budget
06 Oct 2022
Contributed by Lukas
It’s been a turbulent two weeks for the British economy, with Chancellor Kwasi Kwarteng’s ‘mini-budget’ sending sterling plummeting, gilt yiel...
231: Navigating vol in global financial and European clean energy markets – Market Talk Asia Special
28 Sep 2022
Contributed by Lukas
Real yields are rising, the dollar continues to firm against all major currencies and the UK economy has been caught in the crosshairs. But how should...
230: Striving to make index strategies net-zero heroes
23 Sep 2022
Contributed by Lukas
With the race to net zero in full swing we examine how index investors can pursue such an objective through understanding how to define net zero, why ...
229: Sometimes it’s hard to be a woman – tackling the gender pension gap
21 Sep 2022
Contributed by Lukas
In this episode, Stuart Murphy, Legal & General’s Co-Head of DC, and Al Miles, Legal & General’s Senior Solutions Strategy Manager, discus...
228: US and European tightening, China easing – Market Talk
01 Sep 2022
Contributed by Lukas
Is the bear market rally in credit and equities officially over following the Jackson Hole meeting of central bankers? And what are the implications o...
227: Investing through a market regime shift – the CIO call
11 Aug 2022
Contributed by Lukas
In our last episode of August, Sonja Laud, LGIM’s chief investment officer, discusses why the second half of 2022 has started on a decidedly more pl...
226: Taiwanese tensions, a bleak BoE outlook and US inflation - Market Talk
09 Aug 2022
Contributed by Lukas
In the last episode of Market Talk for the summer, Ben Bennett, Head of Investment Strategy and Research assesses implications for investors regarding...
225: We’re all goin’ on a summer holiday
04 Aug 2022
Contributed by Lukas
In this episode we chat with Hetal Mehta, Senior European Economist, Emiel van den Heiligenberg, Head of Asset Allocation and Laura Brown, Head of C...
224: Market rallies, Fed’s move and China – Market Talk
28 Jul 2022
Contributed by Lukas
In this episode, Ben Bennett, Head of Investment Strategy & Research, looks at reasons behind the rally in bond and equity markets, options for ce...
223: Is the party over for post-Jubilee Britain?
22 Jul 2022
Contributed by Lukas
In this episode of Blog on the Pod: as the UK prepares for the Conservative Party to select its fourth leader since 2016, we explore the economic chal...
222: The outlook for EM assets – the CIO call
13 Jul 2022
Contributed by Lukas
In this month’s episode, Sonja Laud, LGIM’s chief investment officer, discusses the investment outlook over the coming months, with a focus on the...
221: In conversation with… Bill Hughes, Global Head of Real Assets
08 Jul 2022
Contributed by Lukas
In this episode, hear what attracted Bill to the world of property in the first place, as well as his views on the role of big cities, urban regenerat...
220: Market Talk Asia Special
30 Jun 2022
Contributed by Lukas
Against a backdrop of a gruelling six months for investors, we take a deep-dive into the world of high yield and investment-grade bonds, a look at und...
218: Aggressive central banks, fragile markets – the CIO call
15 Jun 2022
Contributed by Lukas
In this month’s episode, Sonja Laud, LGIM’s chief investment officer, discusses the current bout of market volatility, with a focus on trading con...
217: Rising oil prices and slowing growth – Market Talk
08 Jun 2022
Contributed by Lukas
Why is the oil price firming and what are the repercussions for global growth? And how quickly will central bankers continue to tighten monetary polic...
216: Building a case for the build-to-rent sector
01 Jun 2022
Contributed by Lukas
In this episode Mike Adefuye, Senior Research Manager, Real Assets, paints a picture of a typical BtR apartment, analyses the risks and opportunities ...
215: Margin compression, bear markets and a dollar focus – Market Talk
26 May 2022
Contributed by Lukas
What’s behind the latest profit warnings from US retailers? How is bad news being received by investors? And what’s behind the recent dollar stren...
214: Recession risk, real estate and responsible investing – the CIO call
19 May 2022
Contributed by Lukas
In this month’s episode, Sonja Laud, LGIM’s Chief Investment Officer, discusses recession risk, where we are in the economic cycle and understandi...
213: Are we losing the fight against cybercrime?
12 May 2022
Contributed by Lukas
Cyberattacks on critical national infrastructure are on the increase, and companies also face increasingly sophisticated threats to their data. In tod...
212: Rising recession risk and US tech falls – Market Talk
05 May 2022
Contributed by Lukas
Higher inflation, slower growth and tighter monetary conditions have led to increased talk of recession. But just how much recession risk is priced in...
211: Active ownership: Global engagement to deliver positive change
29 Apr 2022
Contributed by Lukas
In this special podcast we highlight some of the issues in our 11th annual Active ownership report - from the real living wage and inequality, through...
210: Climate, COVID or cash: What’s making DC savers tick in 2022?
22 Apr 2022
Contributed by Lukas
Amid the turmoil of the year so far, what is the prevailing factor dominating DC savers’ pension preferences? In this podcast, we take a deep dive i...
209: Why the cost of living just got more expensive
19 Apr 2022
Contributed by Lukas
In this episode of LGIM Talks, Hetal Mehta, Senior European Economist, analyses the reasons behind skyrocketing living costs, the policymakers’ resp...
208: Contrarian views, geopolitics and ESG questions – the CIO call
14 Apr 2022
Contributed by Lukas
In this month’s episode, Sonja Laud, LGIM’s chief investment officer, discussed the complex market environment facing investors, with a focus on i...
207: Market Talk Asia Special
30 Mar 2022
Contributed by Lukas
In this special edition of Market Talk, we take a more in-depth look at the twin factors driving markets currently; growth and inflation. More specifi...