InsuranceAUM.com

In this episode of the InsuranceAUM.com podcast, host Stewart Foley, CFA, welcomes Nalaka De Silva, Head of Private Market Solutions at abrdn, for a deep dive into global private markets. Nalaka shares his unique background as a global citizen, growing up in Africa, and his professional journey, leading private market solutions at one of Europe’s largest asset managers. He provides a comprehensive overview of abrdn’s long history, dating back nearly 200 years, and how the firm manages over $500 billion in assets, with $200 billion focused on insurance portfolios.

Nalaka explains abrdn’s approach to private markets, detailing how his team identifies opportunities across venture capital, private equity, infrastructure, and private credit. He also discusses the importance of risk management and how abrdn’s proprietary PRISM tool helps clients monitor and manage risks within private market portfolios. Whether you’re interested in learning more about infrastructure investing, private credit opportunities, or the future of private markets, this episode provides invaluable insights for institutional investors.

In this episode of the InsuranceAUM.com podcast, host Stewart Foley, CFA, sits down with Arif Husain, Head of International Fixed Income and CIO at T. Rowe Price, for an in-depth discussion on global fixed income markets. With a card-carrying bond geek in Stewart and Arif's extensive expertise, the conversation explores topics such as U.S. inflation, the Federal Reserve’s interest rate path, and the complexities of global macroeconomic environments. Arif offers insights into the state of fixed income in Europe, Japan, and China, providing guidance on where investors should look for yield while being mindful of volatility and risk.

Arif also shares his views on how rising rates and inverted yield curves are impacting the banking sector and how investors should approach floating rate versus fixed rate allocations in this market. For those seeking income improvement, he highlights emerging markets, securitized credit, and the importance of understanding why yields are available. This episode is packed with actionable insights for insurance investors navigating today’s challenging fixed income environment.

For standard performance and other important information, please click here:  Dynamic Global Bond Strategy Highlight

Returns based on Dynamic Global Bond (USD Hedged) Composite. The Global Unconstrained Bond Strategy/Composite is advertised and marketed under the Dynamic Global Bond Strategy/Composite designation outside of Canada, but should be referred to as the Global Unconstrained Bond Strategy/Composite in Canada.

In this engaging episode of the InsuranceAUM.com podcast, host Stewart Foley, CFA, welcomes back Michael Ashton, CEO of Enduring Investments, affectionately known as The Inflation Guy. Michael brings his candid insights and deep understanding of inflation, monetary policy, and the Fed's actions, delivering another thought-provoking conversation.

They explore the current state of the economy, discussing whether the Fed will implement one last interest rate hike and what its long-term impacts might be. Michael breaks down the Fed's decision-making process, highlighting the complexities of monetary policy and the evolving nature of interest rate management. They also delve into the recent bank failures and the asset-liability mismatch plaguing certain regional banks, as well as the growing role of private credit amid potential tightening in bank lending.

Additionally, the episode touches on the challenges facing commercial real estate, particularly office space, and what may lie ahead for the sector. With Michael's no-nonsense approach and entertaining commentary, this episode offers valuable insights for insurance investors looking to navigate today’s uncertain economic landscape.

In this episode of the InsuranceAUM.com podcast, host Stewart Foley dives into the complexities of the current Commercial Real Estate (CRE) market and distressed investing. He’s joined by three industry leaders: Tony Crooks, Managing Director at AEW, Jack Gay, Senior Managing Director and Global Head of Debt at Nuveen Real Estate, and Reid Liffmann, Head of US Real Estate at Angelo Gordon. Together, they unpack the driving factors behind recent large CRE defaults, the challenges posed by rising interest rates, and the impact of office vacancies in major cities. The panel explores how risk and opportunity vary across sectors like office, multifamily, and industrial, offering a comprehensive view of where the market stands today.

The conversation also highlights where smart money should be looking for opportunities in the capital structure, from senior debt to equity. With the pullback in bank lending, our guests discuss the role of insurance companies and other private lenders in filling the financing gap. As the market searches for its footing, this episode provides key insights into how investors can navigate a distressed market, the importance of patience, and why this is a time for disciplined, value-driven investment strategies.

In this episode of the InsuranceAUM.com Podcast, Stewart Foley sits down with Jim Gubitosi, co-CIO of Income Research and Management, to discuss the current state of the CMBS and commercial real estate (CRE) markets. With interest rates rising and the recent turmoil in the banking sector, Jim offers insight into how these factors are affecting the commercial real estate landscape, particularly in office spaces. He delves into how valuations, refinancing challenges, and the concentration of CRE loans within regional banks are creating stress in the market.

Jim also explains how the CMBS market is holding up amid these pressures and why it remains a valuable investment for insurance portfolios. He provides a deep dive into where the risks lie within the CRE space and emphasizes the importance of understanding granular details, rather than relying on headlines. If you're looking to better understand the CRE landscape and how to navigate potential opportunities and risks in CMBS, this episode offers an invaluable perspective.

In this episode of the InsuranceAUM.com podcast, Stewart Foley speaks with Tom Keck, partner and head of research and portfolio management at StepStone Group, about the dynamic landscape of private markets. They discuss the rise of private credit, the ongoing disintermediation of banks, and how insurance companies are stepping in as key players in non-bank lending. Tom dives into how private markets create value across different asset classes, and why areas like direct lending and infrastructure are poised for growth despite challenges in other sectors, such as commercial real estate.

Tom also addresses the debate surrounding private equity valuations and volatility, offering insights into whether private markets are truly insulated from recent market turbulence or if there’s more to the story. If you want a deep dive into how private markets are evolving in today’s macroeconomic environment, this episode is a must-listen for insurance investors navigating alternative asset classes.

In this episode of the InsuranceAUM.com Podcast, Stewart Foley, CFA, welcomes Jim Jackson, Co-CIO of Victory Income Investors, to discuss the opportunities and challenges within the municipal bond market. With a background that includes over 20 years of experience in fixed income and managing insurance assets, Jim shares insights into how municipal securities fit into insurance portfolios, the differences between taxable and tax-exempt munis, and the advantages of active management in a diverse and nuanced asset class.

Jim discusses how insurance companies can leverage taxable munis to match liabilities and optimize credit risk, especially given the sector's historically low default rates. He also addresses liquidity in the muni market, current economic conditions, and the benefits of fundamental credit analysis. Whether you're navigating credit risk, considering customization for an insurance portfolio, or exploring the evolving landscape of taxable municipal bonds, this episode provides valuable perspectives on an asset class that remains essential for insurance investors.

In this episode of the InsuranceAUM.com podcast, host Stewart Foley welcomes John Gidman, Chief Operating Officer at Loomis, Sayles & Company, CEO of their subsidiary services company NIM-OS, and President of the Association of Institutional Investors. They dive into the evolution of technology in the institutional asset management space, focusing on how advanced data analytics, customization, and proprietary technology are reshaping the way firms like Loomis deliver solutions to institutional investors, particularly in the insurance space. John discusses the value of owning proprietary intellectual property in front office technology and how it enables Loomis to provide bespoke investment solutions for clients with highly specific needs.

John also shares how Loomis has used its technology expertise to build deep, long-term relationships with insurance clients, positioning the firm as a consultative partner. He emphasizes that the future of institutional asset management lies in scalable customization, and Loomis has made significant investments to meet this demand. Tune in to hear about the fascinating journey of building an efficient technology infrastructure, and the ways Loomis is shaping the future of asset management for its clients.

In this episode of the InsuranceAUM.com podcast, host Stewart Foley speaks with Jake Gaul, CIO of Jennison Fixed Income, about the state of the investment-grade credit market. They explore a range of critical topics for insurance investors, including the potential impacts of recent banking challenges, corporate earnings trends, and the current value in sectors such as high-quality ABS and CMBS. Jake also shares insights into Jennison’s strategy for navigating opportunities in public credit, with a focus on the firm’s unique approach to being nimble and responsive in managing investment-grade portfolios.

The conversation covers key factors influencing the fixed-income landscape, such as regulatory expectations for banks, earnings performance across sectors, and the shape of the yield curve. With a narrow focus on the high-quality bond market, Jennison’s approach is designed to capitalize on evolving market conditions, providing tailored strategies for institutional clients. Tune in to hear valuable insights on how insurance companies can navigate today’s complex fixed-income environment.

In this Executive Spotlight episode of the InsuranceAUM.com Podcast, host Stewart Foley interviews Shawn Robinson, Partner at Apollo, who specializes in private investment-grade (IG) credit and corporate solutions. Shawn shares his insights into Apollo’s $400 billion credit platform, with a particular focus on how private IG credit aligns with the investment goals of insurance portfolios.

Shawn explores the opportunities in private IG credit, including infrastructure, project finance, and the growing demand for green transition financing. He highlights Apollo’s unique approach to delivering tailored financial solutions by leveraging their scale, expertise, and collaborative environment. Shawn also discusses the advantages of private credit over public markets, the importance of deal structure, and the resilience of private markets in today's volatile economic climate.

Tune in to this Executive Spotlight episode for a deep dive into how private IG credit can offer stable, high-yielding investments ideal for insurers, and why it’s a critical component of Apollo’s investment strategy.