Ideas

September 23, 2020

Rob Daly, Director of Fixed Income, comments to MarketWatch.

September 21, 2020

The energy market has felt the effects of COVID-19 in both the traditional and non-traditional energy sectors. However, we’ve seen renewables broadly pick-up in demand, while traditional energy has fallen dramatically.  Why? We explore some of the drivers to this divergence related to COVID-19 and whether we believe there’s the potential for these trends to persist.

September 21, 2020

Our analysis finds that earnings surprises have been and continue to be a very consistent indicator of excess returns. But over the past few years, this factor has not appeared to matter, because even a basket composed of only positive earnings surprises would have underperformed the cap weighted index. However, a historical comparison between the current environment and the internet bubble suggests that this headwind may be cyclical, rather than secular, which could favor active managers who underweight the largest names in the index and allocate instead to stocks that have underappreciated earnings trends.

September 21, 2020

PM Stacey Gilbert featured in Bloomberg.

September 15, 2020

Growing public and regulatory pressure is increasing the availability of climate risk data and analytical tools, allowing asset managers to quantify risks and opportunities in security analysis, supporting their efforts to maximize risk-adjusted returns.

September 8, 2020

The Glenmede Secured Options Strategy continues to be more defensively positioned than its benchmark, as discussed by Derivatives Portfolio Manager Sean Heron, CFA, who gives an overview of recent results and the team’s outlook. He also describes the strategy’s performance in this year’s drawdown as well as participation in the subsequent rally. 

September 7, 2020

Profound shifts in the environment have created a potentially long-lasting period of weakness for the U.S. dollar and possibly even emerging alternatives for the world’s reserve currency. While many are considering the potential for a short-term crash of the U.S. dollar, the bigger consideration for investors must be preparing their strategies for the increasingly likely possibility of a long-term period of dollar weakness.

September 4, 2020

Although the market has experienced a faster rebound than has been seen historically, the recovery in stocks has been unusually unbalanced. With the concentration of recovery in mega-companies, we are seeing stock valuations and value spreads with historical above average standard deviations.

August 27, 2020

Despite the COVID-19 pandemic, two college students from the Girls Who Invest (GWI) program were able to gain real world experience and make career connections through a study and internship program that was reimagined as a remote experience. The GWI program, which included 180 women participating at more than 100 firms this summer, is helping to encourage a steady flow of talented women to consider a career in investments or finance. Read the story of the interns who called Glenmede their virtual home this summer.

August 19, 2020

Following the recent Russell rebalance, the increasing disparity in the number of constituents in the Russell 1000 Value and Growth Indexes highlights a significant issue with price-based indexes.  In this episode of Charts & Chatter, Stacey Gilbert, Portfolio Manager in Derivatives, is joined by Val de Vassal, CFA, Portfolio Manager of Quantitative Equity, to discuss the potential opportunities for active managers created by the Russell rebalance in June. 

August 12, 2020

Unprecedented expansion of the Fed’s balance sheet, continued discord in Congress about further fiscal stimulus and recent spikes in new COVID-19 cases have likely been contributing to the acceleration of the U.S. dollar's weakness over the past month. Despite the weakening of the dollar, the increased inverse relationship of the rolling 12-month returns of U.S. small cap and DXY signals small cap may be a beneficiary to the dollar weakness.               

August 4, 2020

Derivatives Portfolio Manager Sean Heron, CFA, discusses the investment approach for the Glenmede Secured Options Strategy during this monthly update, sharing the foundational principles for a repeatable process. He reviews the strategy’s ongoing defensive positioning, which, while limiting upside participation for the July expiration period, delivered outperformance versus the benchmark CBOE indexes for the period from mid-March through mid-July.

Pages

 

 

 

All information contained on this page represents the views of the indicated employees of Glenmede Investment Management, LP (GIM) as of the date of publication.  Views expressed may not reflect the views of management as a whole or of any affiliate of GIM, and may have changed since publication.  This page does not represent a complete discussion of facts or opinions.  Please see the full article indicated for additional information and disclosure.  Material here is for background only and is not a solicitation for the purchase or sale of any product or service.  GIM products are actively managed and their characteristics will vary.  All investment has risk, including the risk of loss of principal.  There can be no assurance that efforts to manage risk or to achieve any articulated investment objective will be successful, no matter how carefully tested.  An investor should consider investment objectives, risks, charges and expenses carefully before investing. For additional information regarding risks and about the firm, please refer to Related Literature and Disclosures.