NEW YORK, Jan. 8, 2014 /PRNewswire/ -- Managers and strategists at Neuberger Berman, one of the world's leading employee-owned money managers, envision positive momentum across many asset classes in 2014, as the global economy stabilizes and generates moderate growth, according to Solving for 2014, the firm's third annual outlook across global equities, fixed income and alternative investments. As the investable universe has grown—across borders and asset categories—this year's edition is deeper than ever before, reflecting the firm's broad perspective and client base.
Solving for 2014 is available for download at: www.nb.com/solving2014. The site also features more than twenty video presentations from Neuberger Berman senior investors.
"From an economic perspective, things are improving across a number of major economies," said Joseph Amato, President and Chief Investment Officer of Neuberger Berman. "As the Fed and other central banks adjust their approaches, investors should remain alert. Inflation trends remain moderate and we do not expect a significant uptick in rates this year. These shifts in policy merits close attention as investors adjust portfolios to capitalize on the improved growth and somewhat tighter monetary conditions."
In equities, Amato anticipates continued earnings growth this year tied to modest operating leverage as the economy picks up. In fixed income, investors can likely expect slow and steady growth and the potential for rising rates, said Brad Tank, Chief Investment Officer, Fixed Income.
"In my view, we're probably in the middle innings of this growth phase in the U.S.," Tank said. "Things are getting better, but not rapidly. For the coming year, we anticipate a relatively benign growth environment, with continued momentum in the U.S., a modest acceleration in Europe and an 'Abenomics'-driven recovery in Japan, offsetting China's slower growth trajectory."
An improving economy should lead to more private equity buyout activity, according to Anthony Tutrone, Neuberger Berman's Global Head of Alternatives. "At this point, we haven't gotten to a major acceleration in buyouts, but we believe deals will begin to pick up," he said.
Alan Dorsey, the firm's Head of Investment Strategy and Risk thinks a key issue for 2014 is achieving incremental return—whether through capital appreciation or additional yield—mindful that return outlooks have gradually shifted downward while interest rates remain extremely low. He thinks alternatives are one key area that has gained traction, but another particularly important one from a portfolio allocation standpoint is emerging markets.
Solving for 2014 features discussion on topics including:
Investors' Roundtable for Macro Perspective
- Joseph V. Amato, President and Chief Investment Officer
- Alan H. Dorsey, CFA, Head of Investment Strategy and Risk
- Anthony D. Tutrone, Global Head of Alternatives
- Brad Tank, Chief Investment Officer, Fixed Income
Asset Allocation Views and Personal Strategy Discussion
- U.S. Equities
- Developed International Equity Markets
- Emerging Equity Markets
- Greater China Equities (mainland China, Hong Kong and Taiwan)
- U.S. Investment Grade Bonds
- U.S. Municipal Bonds
- U.S. High Yield Bonds and Bank Loans
- Non-U.S. Developed Markets
- Emerging Markets Debt Overview
- Emerging Markets Hard Currency Sovereign Debt
- Emerging Markets Hard Currency Corporate Debt
- Local Currency Debt
- Asian Debt
Alternatives and Multi-Asset
- Private Equity
- Hedge Funds
- Multi-Asset Class Portfolios
About Neuberger Berman
Neuberger Berman is a 75-year-old private, independent, employee-controlled investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for global institutions, advisors and individuals. With offices in 16 countries, Neuberger Berman's team is approximately 2,000 professionals and was named by Pensions & Investments as a 2013 Best Place to Work in Money Management. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $227 billion in client assets (as of September 30, 2013). For more information, please visit our website at www.nb.com.
This material is provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. Information is obtained from sources deemed reliable, but there is no representation or warranty as to its accuracy, completeness or reliability. All information is current as of the date of this material and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. This material may include estimates, outlooks, projections and other "forward-looking statements." Due to a variety of factors, actual events may differ significantly from those presented. Investing entails risks, including possible loss of principal. Investments in hedge funds and private equity are speculative and involve a higher degree of risk than more traditional investments. Investments in hedge funds and private equity are intended for sophisticated investors only. Past performance is no guarantee of future results. Please refer to Neuberger Berman's 2014 Outlook, Solving for 2014 for fuller discussions and related disclosures. The Outlook is available publicly on the Neuberger Berman website at https://www.nb.com/solving2014/
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