Important legal information

Views and opinions expressed are presented for informational purposes only and are a reflection of UBS Asset Management’s best judgment at the time a report or other content was compiled. UBS specifically prohibits the redistribution or reproduction of this material in whole or in part without the prior written permission of UBS and UBS accepts no liability whatsoever for the actions of third parties in this respect. The information and opinions contained in the content of this webpage have been compiled or arrived at based upon information obtained from sources believed to be reliable and in good faith but no responsibility is accepted for any errors or omissions. All such information and opinions are subject to change without notice but any obligation to update or alter forward-looking statement as a result of new information, future events, or otherwise is disclaimed. Source for all data/charts, if not stated otherwise: UBS Asset Management.
Any market or investment views expressed are not intended to be investment research. Materials have not been prepared to address requirements designed to promote the independence of investment research and are not subject to any prohibition on dealing ahead of the dissemination of investment research. The information contained in this webpage does not constitute a distribution, nor should it be considered a recommendation to purchase or sell any particular security or fund. The materials and content provided will not constitute investment advice and should not be relied upon as the basis for investment decisions. As individual situations may differ, clients should seek independent professional tax, legal, accounting or other specialist advisors as to the legal and tax implication of investing. Plan fiduciaries should determine whether an investment program is prudent in light of a plan's own circumstances and overall portfolio. A number of the comments in the content of this webpage are considered forward-looking statements. Actual future results, however, may vary materially. Past performance is no guarantee of future results.  Potential for profit is accompanied by possibility of loss. 
© UBS 2017 The key symbol and UBS are among the registered and unregistered trademarks of UBS. 

Reset

Investment Insights Our view of the investment landscape

Investment insights

Editions of Investment Insights


September 2017

Multiple choice (PDF, 1 MB)

The price to earnings ratio (PE ratio) is used by investors as a core measure of equity market value. But its ubiquity leads us to question whether investors place greater weight on the ratio's robustness and evaluative power than it deserves. With US equity multiples looking full, we take a deeper look at the PE ratio and assess its information value to investors as a predictor of forward index returns.

August 2017

Human capital: power to the people (PDF, 627 KB)

It is all too easy to ignore demographics in modern markets. Real time news and daily macroeconomic data demand investors' attention at every turn. So what role should plodding structural population trends play in investors' analytical armoury when shorter-term market sentiment seems to offer the key to performance?

July 2017

Trouble with the curve (PDF, 1 MB)

With potentially significant implications for monetary policy and for a broad range of asset classes on both a tactical and strategic basis, this month's Investment Insights digs a little deeper into what economists have dubbed 'the wage growth conundrum'.

June 2017

The reversal of US QE: everything you need to know (but were afraid to ask) (PDF, 393 KB)

With Quantitative Easing such a key influence on markets, we analyze why the Fed has decided the time is now right, how the Fed will reduce its holdings and the likely reactions of investors across asset classes. With the security buffer of liquidity slowly being reduced, our view is that all asset classes will gradually become more susceptible to bursts of higher volatility.

May 2017

Active opportunity knocks (PDF, 621 KB)

In this edition of Investment Insights we analyze the impact on equity markets of a broadening of market drivers and the high degree of policy uncertainty globally. With sector correlations falling, we look at the implications for investors and analyze whether the opportunity set for high conviction active managers is now improving materially.

April 2017

Liquidity: does less equal more? (PDF, 320 KB)

Can assets that are difficult to price or sell really justify a place in investors’ portfolios? In the quest for improved income and risk-adjusted returns, this question has been driving institutional investors’ fast-growing interest in a broad range of illiquid asset classes including infrastructure, private credit, real estate and private equity. But how should investors approach making an allocation to illiquid assets? We believe the reward investors have historically enjoyed for accepting the risk of less easily tradable assets —the so-called “illiquidity premium”—makes it worth their while to explore illiquid options, though there are pitfalls and guidelines to keep in mind.