The Equity Yield Curve: A Long-Term Perspective on Investing

March 2025

Discover how patient capital, illustrated by the concept of the equity yield curve, can become a competitive advantage in an increasingly short-term dominated market.

Thriving in the Age of Amazon: How Retailers Can Win

January 2025

The retail apocalypse is still alive, but there are opportunities for retailers to thrive. As of the end of October 2024, retailers in the United States had announced nearly 6,200 store closures for the year, This marked the highest number of closures since 2020 and reflects an evolving consumer landscape where shoppers are increasingly budget-conscious and prioritize experiences over material goods.

Who can survive and thrive in this environment?

Corporate Transparency Regime Change

May 2021

There are no doubts that, when it comes to financial disclosure, we have moved from the well-intention phase into the show-me-the-numbers phase. Asset owners and regulators are asking asset managers, who are asking issuers, who are asking their suppliers, and everyone along the way, an ever-increasing amount of information. They want it all and they want it now, from climate data and strategy to employee data, or board relationships and competencies. Transparency will be the key theme for 2021 and beyond, and with that increased transparency will come, one hope, more accountability.

Proxy Season 2021: What is on the menu?

March 2021

As we close the 2020 reporting cycle, corporations and investors are already thinking about the upcoming AGMs. If technology issues have largely been addressed, the season is nevertheless coming forth as - if not more - challenging as last year, in terms of both content and experience. Many proposals have already found their way to proxy documents and if last year’s trend is any indicative of what will be on the 2021 AGM agenda, issuers should have their narrative ready on key topics such as Say-on-Climate, Executive compensation post pandemic, and “Expanded” diversity beyond gender and beyond the board.

These themes are very interconnected and addressing one without considering the others might convey a sense of short-term fixing rather than real commitment to building a truly sustainable and resilient business model.

The Good, the Bad and the Unintended Consequences of the ESG Promises

November 2021

Bringing sustainability into strategic and tactical decision making has pushed us to take a hard look at what we do, why and how we do it, within a context that goes beyond an organization’s own boundaries. Institutional investors’ quest for better governance seems legitimate and the merits of investors’ push for improved corporate behaviour and accountability is hardly disputable.

But what’s in it for smaller players, including retail investors, the ultimate beneficial investors, or small and mid-sized businesses, who seem to have been left out of the discussions?

Let's explore  the good, the bad and some of the unintended consequences of our battle for sustainability in business.

The Top 10 Disconnects in Responsible Investing

February 2019

While the concept of "sustainable development" was first introduced in the 1970s and more clearly defined in the 1980s, it really gained momentum over the past two decades with the successive economic and ecological crises. It has now taken the investment community by storm, and successfully carved out a place of choice in investors' mind, on boards’ agenda, and at corporate strategic forums.

Asset owners, asset managers, investment research teams, regulators, and citizens are all participating in reshaping the financial industry, by redefining its purpose and its expected contribution to our evolving societies. While many have been drawn into the discussion, willfully or not, polarization seems to have reached paroxysm. While these diverging views may appear irreconcilable, increasing transparency and mutual learning will bring us closer to each other, and faster than we think.