Episodes

  • 371: Our midyear global outlook – the CIO call

    371: Our midyear global outlook – the CIO call
    Jul 4 2025

    We recorded this special episode to mark the publication of our midyear global outlook, which offers key views across public and private markets after a particularly eventful first six months of 2025. Topics covered include:
    • Long-term implications from the tariffs-related volatility spike
    • How our AFI team in Chicago is navigating policy uncertainty
    • The approach taken by our Multi-Asset team to USD assets
    • The outlook for private market assets – and their role in portfolios
    • Addressing concentration risk within index and ETF strategies

    During the episode, Sonja Laud, our Global CIO, was joined by:
    • Anthony Woodside, Head of Multi-Sector Fixed Income & Investment Strategy, Asset Management, America
    • Christopher Jeffery, Head of Macro Strategy
    • David Barron, Global Head of Index and ETFs
    • Rob Martin, Global Head of Investment Strategy & Research, Private Markets

    The speakers also offer non-consensus market views for the next six months – and share what they are planning to read and watch over the summer.
    The podcast was recorded on 3 July and was moderated by Max Julius, Head of Content.
    For professional investors only. Capital at risk.
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    42 mins
  • 370: Middle East conflict, inflation and interest rates – Market Talk

    370: Middle East conflict, inflation and interest rates – Market Talk
    Jun 25 2025
    Ben Bennett, Head of Investment Strategy Asia, shares his thoughts on the market impact of the Middle East conflict. Also on the agenda is possible rates divergence between the US and Europe, the shortcomings of economic data, and why GDP per capita may not tell the whole story of emerging markets.
    This podcast was recorded on 24 June 2025.

    All data is sourced from LSEG as at 24 June 2025 unless otherwise stated.
    For professional investors only. Capital at risk. Securities mentioned for illustrative purposes only.
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    21 mins
  • 369: How to tackle equity market concentration risk

    369: How to tackle equity market concentration risk
    Jun 19 2025
    With market volatility front of mind in 2025, we explore equity market concentration risk and what can be done to mitigate it.

    Our speakers are Aude Martin, Head of Pooled Index Investment Specialists, and Andrzej Pioch, a Fund Manager specialising in multi-asset strategies in our Asset Allocation team.

    All data from Bloomberg as at 5 June 2025 unless otherwise stated.

    For professional investors only. Capital at risk. Past performance is not a guide to the future. It should be noted that diversification is no guarantee against a loss in a declining market. Securities are mentioned for illustrative purposes only. Reference to a particular security is on a historic basis and does not mean that the security is currently held or will be held within an L&G portfolio. The above information does not constitute a recommendation to buy or sell any security. Assumptions, opinions, and estimates are provided for illustrative purposes only. There is no guarantee that any forecasts made will come to pass.
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    17 mins
  • 369: Unpacking unconstrained strategies

    369: Unpacking unconstrained strategies
    Jun 12 2025
    What does it mean when we say an active fixed income strategy is “unconstrained”? What difference does it make when a fund is not tied to a benchmark? And what is it about the present moment that could make this an attractive option for navigating market volatility?

    To answer these questions and give his insights into what could determine performance in fixed income for the rest of the year, this week we’re joined by Enda Mulry, Portfolio Manager in our Global Bond Strategies team.

    This episode is hosted by Andrew Lowry, European Content Manager.

    For professional investors only. Capital at risk.
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    9 mins
  • 368: As above, so below: The case for crossover private credit

    368: As above, so below: The case for crossover private credit
    Jun 6 2025
    This week, we tackle part of the private credit universe that doesn’t
    often get much airtime. That’s ‘crossover credit’ – or in other
    words, the part of the market that sits between investment-grade and
    sub-investment-grade credit.

    Talking us through this episode is Stu Hitchcock, L&G’s Head of
    Private Credit Portfolio Management. Stu addresses the size of the
    crossover market, the types of deals that may utilise this form of
    credit and how it may fit into a portfolio.

    Asking the questions is Nick Jardine, Content Manager for L&G’s
    Private Markets platform.

    All data is sourced internally from L&G as of June 2025, unless
    otherwise states.

    For professional investors only. Capital at risk.

    Source: Moody’s Annual Default Study, 2023. Based on issuer-weighted average
    default rates and issuer-weighted senior unsecured bond recovery
    rates, from 1983-2023.
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    24 mins
  • 367: L&G explains: What does the term ‘money market fund’ actually mean?

    367: L&G explains: What does the term ‘money market fund’ actually mean?
    May 29 2025
    What is a money market fund? Why do investors use them? And how might the path of interest rates, technological change and regulation affect the outlook for these funds?
    Our guest for this podcast is Ross McDonald, a Liquidity Investment Specialist at L&G, to learn more about this sometimes overlooked – but crucial – part of the investor’s toolkit.
    All data is sourced from Bloomberg as at 22 May 2025 unless otherwise stated.
    For professional investors only. Capital at risk. It should be noted that diversification is no guarantee against a loss in a declining market.
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    12 mins
  • 366: US tariffs, the Hong Kong dollar and UK inflation – Market Talk

    366: US tariffs, the Hong Kong dollar and UK inflation – Market Talk
    May 22 2025
    Ben Bennett, Head of Investment Strategy Asia, shares his thoughts on the rebound in risk assets following the preliminary US/China trade deal. Also up for discussion are the rapid repricing of the Hong Kong dollar and what April’s inflation surprise in the UK means for the path of interest rates.

    All data is sourced from LSEG as at 21 May 2025 unless otherwise stated.

    For professional investors only. Capital at risk.
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    22 mins
  • 365: Tomorrow and tomorrow and tomorrow – private markets in Q2 and beyond

    365: Tomorrow and tomorrow and tomorrow – private markets in Q2 and beyond
    May 21 2025
    2025’s macro turbulence has been well documented; but is there opportunity among the uncertainty?

    As we approach the year’s halfway point, we look at what the economic environment means for private markets, looking at where we stand now and what may lie ahead in the medium term.

    We’re joined by Rob Martin, Head of Investment Strategy and Research for L&G’s Private Markets platform, and Lushan Sun, Head of CrossAsset Research. Asking the questions and hosting is Nick Jardine, Content Manager for L&G’s Private Markets Platform.

    This podcast was recorded on 16 May 2025.

    Sources:

    L&G, as of May 2025

    MSCI, as of May 2025

    Mckinsey & Co, as of January 2023

    Preqin, as of May 2025

    For professional investors only. Capital at risk.

    For illustrative purposes only. Views expressed are of L&G as at 15 April 2025. The information in this podcast is for information purposes only and we are not soliciting any action based on it. It is not a recommendation to buy or sell securities or pursue a particular investment strategy. It is not investment, legal, regulatory or tax advice.
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    21 mins