Episode 237 of the InsuranceAUM Podcast + 10 New Articles!

Episode 237: Capturing the benefits of Infrastructure Debt

In this episode of the InsuranceAUM.com podcast, Stewart Foley, CFA , explores the growing demand and opportunities within the infrastructure debt market with two key experts from Brookfield : Hadley Peer Marshall , Managing Director, Co-Head of Infrastructure Debt and Structured Solutions Strategies, and CFO, and Eric Wittleder , Managing Director of Infrastructure. The discussion delves into the major trends driving the infrastructure sector, particularly the significant capital required for global transition initiatives such as net-zero carbon emissions, and how these trends present unique opportunities for institutional investors like insurance companies.

Click HERE to listen to the podcast.

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What’s Next for the Rules That Govern Insurers’ Investments: Developments from the NAIC’s 2024 Summer National Meeting

In our Live Webinar on August 21, 2024, we met with Amnon Levy and Special Guest Carrie Mears, CFA to learn what's next for the rules that govern insurers' investments. 

We discussed:

- The classification of asset-backed securities and non-SEC registered funds.  

- Extending NAIC staff discretion over agency rating-based Designations.  

- Designations and capital of CLOs and asset-backed securities.  

- The Investment Framework Work Plan to revise investment risk oversight.

Click HERE to watch the replay

Stock Market Concentration: How Much Is Too Much?

• Stock market concentration has increased sharply over the past decade, creating a challenging environment for active managers and also raising unease about the loss of diversification, the valuations of the largest stocks, and the effect of flows into index funds.
• In this report, we look at concentration over the past 75 years to see where we stand today and to reflect on what it means for active equity managers.

Click HERE to read more from Morgan Stanley Investment Management

Capturing the Benefits of Infrastructure Debt

Brookfield believes that three megatrends—digitalization, decarbonization, and deglobalization—will drive an infrastructure supercycle with the need for $200 trillion in investment over the next 30 years. A large share of the capital deployment opportunity to fund these “Three Ds” will be in infrastructure debt, in our view.

Click HERE to read more from Brookfield

The dividends of policy divergence

The global interest-rate easing cycle is under way. We explore what that means for investors taking a global view on fixed-income opportunities while putting credit and currency risk in perspective.

Click HERE to read more from Manulife Investment Management

CHANGE NEVER FELT SO FAMILIAR: Infrastructure in the energy transition

Energy is critical to the functioning of our society—it has fueled technological advancement and human progress over the past two centuries. According to the US Energy Information Administration, global energy consumption has increased by at least 1% every year since 1966. Between 1990 and 2020, it jumped 60%, and by 2050 global energy consumption could rise by an additional 50%.

Click HERE to read more from StepStone Group

Private Credit Perspectives: Q&A with Jeff Levin and Mark Jochims of Morgan Stanley Private Credit (MSPC)

Appetite for opportunities in private debt investing has been on the rise. In this dialogue, members of Morgan Stanley Investment Management's Private Credit leadership team, Jeff Levin (JL) and Mark Jochims (MJ), offer their perspective on the market.

Click HERE to read more from Morgan Stanley Investment Management

What, Me Worry?

The markets had their fun in the first week of August, responding to the Sahm Rule being triggered alongside perceived excess hawkishness by the Federal Open Market Committee (FOMC). We are not too worried.

Click HERE to read more from MetLife Investment Management

Residential Mortgage Loans: A Compelling Investment Opportunity

• US insurance companies have historically been under-allocated to residential mortgage loan (RML) investments
• Recently, insurance portfolios have become active in Non-QM loans with operational responsibilities managed externally

Click HERE to read more from Shelter Growth Capital Partners | SG Capital Partners

The Founder Advantage: Finding Alpha in Middle-Market Private Equity

• Mid-sized private equity investments have generated outsized relative revenue and EBITDA growth.
• Sponsors need a unique strategy and approach to succeed in the dynamic middle-market landscape.

Click HERE to read more from Morgan Stanley Investment Management

Q2 2024 Emerging Markets Review and Outlook

Emerging Markets (EM) ended the second quarter (Q2) with minimal movement from a total return perspective in the hard currency space, while the dollar continued to strengthen versus its peers. Risk appetite remained largely supportive with volatility remaining suppressed, with high yielding hard currency assets the significant outperformer year-to-date (YTD). US data was mixed with April’s strength being offset by some late quarter weakness.

Click HERE to read more from MetLife Investment Management