Asset Allocation
Drawing on our fundamental framework, ASR's asset allocation publications provide discussion of the narratives driving markets, including where we think the concensus may be wrong, and where we think asset returns are headed. Drawing on the view our economists, and factoring in ASR’s sentiment and positioning work, we provide medium-term asset allocation recommendations across the major asset classes.
What We Offer
Research
Asset Allocation Insight
Our Insight notes provide a concise analysis of what is driving markets and where we believe they are headed.
Quarterly Asset Allocation Update
Our quarterly updates provide a big picture overview of how markets and our outlook are evolving. Providing inter- and intra-asset class recommendations, the quarterly includes contributions from all our asset class specialists.
Monthly Investment Committee Brief
Designed as a briefing document for busy asset allocators, in the ICB we offer our take on 10 key macro and market themes, in addition to a summary of the past month’s data and market performance and a chartpack of key indicators
Quarterly Real Asset Strategist
The specialist publication for our real assets sleeve, the Strategist covers developments in and our views on commodities, gold, listed real estate and listed infrastructure. Each quarter a feature article either focusses on a specific asset class or some aspect of the role of real assets in portfolios.
Funky-Correlations Report
This publication explores the ‘macro to market’ relationships that inform our asset allocation process. Each quarter we focus on the most topical building blocks, as well as presenting a selection of key ‘cross-asset cross-checks’ from our chart library which help us ‘map the market’ and inform our views
Data
Risk Appetite Indices
Our Risk Appetite Indicators track the relationship between asset returns and volatility –which sits at the core of any asset allocation.
Asset Allocation SBIs
ASR Sentiment Barometer Indicators (SBIs) use price action to proxy sentiment surveys. We have a set of SBIs which maps to the assets covered in our asset allocation.
Asset Allocation Survey Data
Data from our asset allocation survey can be made available to clients. Please speak to your sales contact.
Services
Absolute Connect Webinars
Around once a month, our weekly Absolute Connect Webinars will have an Economics focus.
Conferences and Forums
We regularly present at both client and society events, giving an independent insight into markets.
Quarterly Asset Allocation Survey
Our survey is about to enter its 10th year. Every quarter we ask CIOs, asset allocators, economists, and strategists about the outlook for financial markets for the next 12 months. Our analysis of results helps identify where investors broadly agree on the market outlook, but also where the groups differ and how.
SurveyBespoke Projects and Investment Solutions
We can take on bespoke research projects, either as a one-off or on an ongoing basis. Please contact your salesperson or sales@absolute-strategy.com to discuss your requirements.
Research Coverage
Our research notes provide medium-term asset allocation recommendations across the major asset classes.
Quarterly Asset Allocation
Equities Upgraded as Hard-Landing Recedes
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We upgrade Equities to neutral as near-term recession risk recedes
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and neutralise our overweight to Core Fixed Income
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Investors unlikely to abandon soft landing hopes in next few months
Lower inflation raises the probability of a soft landing
Our Team
Our experienced team has worked for institutions in London and New York, in client-facing strategy roles. We work closely with ASR Economists and Strategists to leverage the best ideas across all disciplines of research.
David Bowers
Head of Research
David Bowers is joint managing director of Absolute Strategy Research (ASR), a consultancy co-founded with Dr Ian Harnett in 2006. David is our Head of Research. Previously, David was chief global investment strategist for Merrill Lynch, where he worked for eleven years -including three years in New York. He ran the firm’s Global Fund Managers’ Survey and developed it into a powerful tool for understanding how investors view the world. Prior to joining Merrill Lynch, he was the chief European equity strategist at UK broker Smith New Court. David graduated from Exeter University with a first-class honours degree in economics.
Ian Harnett
Chief Investment Strategist
Ian Harnett is one of the Co-Founders of ASR. Ian is our Chief Investment Strategist and focuses on Global Economics and Strategy. Ian has over 25 years of experience in economics and equity strategy, having previously been Chief European Investment Strategist at UBS (where he was #1 Extel ranked for European Strategy). He also led European Strategy for NatWest Markets and was Group Chief Economist for Société Generale London. Ian started his career as an Economist at the Bank of England and has a Doctorate in Economics from Oxford University. Ian is a regular contributor to both CNBC and Bloomberg TV as well as a regular author of “Insight” columns for the Financial Times. Ian is also well known as a Conference Speaker, both for his highly acclaimed Economics and Strategy presentations as well as his participation in high level ‘panel’ debates.
Zahra Ward-Murphy
Asset Allocation Strategist
Zahra is a member of ASR’s Asset Allocation team in addition to her role as a Real Asset strategist. She covers commodities, real estate and infrastructure for ASR. Zahra has a broad interest and experience in markets, having previously covered regional equity strategy for ASR. Before joining ASR, Zahra worked as a global economist at Dresdner Kleinwort, and previously as an FX analyst at both Dresdner Kleinwort and BNP Paribas. She is a CFA charterholder.