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Insights and Commentary from our Sub-advisors

Wespath Institutional Investments' (WII) asset managers produce commentary on the state of the economy, markets, interest rates, industry segments and other topics of interest to institutional investors. These reports provide valuable insight that can help investors understand factors driving performance in the financial markets and lead to more informed decisions. The views expressed are those of the asset managers and do not necessarily represent WII's views.

Capital Group—How to Handle Market Declines – This article provides investors with seven principles that can "help fight the urge to make emotional decisions in time of market turmoil." Posted May 26, 2022

Impax Asset Management—Foundations for Global Net Zero: An Investor's Reflections on COP26 – With the COP26 climate change conference still fresh on investors' minds, one of our public equity asset managers recaps the event and identifies key next steps that the financial community can support to help drive the transition to net zero. Posted December 22, 2021

Disciplined Growth Investors—Fishing with My Dad – This article from one of our public equity asset managers reflects on lessons learned from an old-school fishing enthusiast and explains how the same approach—one of patience, process, fundamentals and discipline—can be applied to investing. Posted August 27, 2021

Disciplined Growth Investors—Navigating Investment Shoals – In a new piece discussing the current investment landscape, our sub-advisor compares post-COVID investment opportunities to sailors moving through storms while navigating around shoals. The COVID-19 crisis created quite the storm, but those with disciplined approaches can still find great investments and avoid dangerous market areas. Posted March 5, 2021

Mondrian Investment Partners—The Continuing Role of Small Cap and Value Investing – This white paper examines the potential role of international small-cap investment in the COVID-19 economic recovery. Mondrian suggests that fiscal and monetary stimulus should provide a boost following the pandemic—and that small-cap strategies could prove successful as quality managers seek to take advantage of attractive valuations and market inefficiencies. Posted May 20, 2020

Brown Capital Management— Coronavirus: Isolating Truth from Fear – Our sub-advisor provides an early look at the economic repercussions of the coronavirus outbreak and highlights how their approach to investing in “growth” companies separates out company fundamentals with a focus on long-term performance. March 3, 2020

Disciplined Growth Investors—Reflections on 2019 – One of our public equity investment managers reflects on 2019 with a few key messages, including a look at the potential of small- and mid-sized company stocks and several interesting trends in the S&P 500 and global bond markets. Posted February 19, 2020

Impax Asset Management—2019 Engagement Report – Our sub-advisor’s engagement report details the importance of effective engagement with corporate management in an effort to manage risk, increase transparency and unlock value. Posted June 4, 2019

Wellington Management—How the Insurance Industry Can Lead on Climate Change – Property and casualty insurers are uniquely exposed to climate risk due to population growth in vulnerable coastal regions. Our sub-advisor explains how the insurance industry can mitigate this risk by adapting enhanced climate-risk repricing and reexamining its traditional investment approach. Posted March 7, 2019

Disciplined Growth Investors (DGI)—1987 Redux? – Our investment manager discusses the similarities between the 2018 and 1987 markets, its view on the current economic environment, why it believes hedge funds are not worth the high fees and a critical flaw of passive investing. Posted March 6, 2019

PIMCO—The Fed: Poised to Pause in March – The probability that the U.S. Federal Reserve will cut its policy rate has increased as global economic growth and inflation forecasts have recently been revised lower. Posted January 31, 2019

PGIM Real Estate—Quarterly Insights: United States – Our sub-advisor discusses the implications of two real estate trends—rising construction costs and the changing demand for office space. Posted June 20, 2018

PIMCO—Issuer Engagement is Crucial to the Future of Sustainable Investing – Our sub-advisor discusses how successful engagement with fixed income issuers regarding their environmental, social and governance (ESG) practices can have positive impacts, including reducing credit risk and improving valuations. Posted May 9, 2018

Standish—The Impact of Tax Reform on the Investment Grade Credit Market – Our sub-advisor discusses the potential impact to investment grade companies regarding four recent tax law changes: 1) a lower corporate tax rate, 2) a limitation on interest deductibility, 3) the expensing of capital expenditures and 4) a one-time repatriation tax. Posted March 7, 2018