UK regions with acute affordable housing needs will require 18,000 homes built annually. With construction levels below this, L&G is leveraging its partnership with GMPF to address the shortfall.
Our Active Ownership report details how our Investment Stewardship and Investment teams exercised voting rights across our entire book and engaged with companies, policymakers and other stakeholders
In his annual outlook, Global Head of Investment Strategy & Research Rob Martin considers long-term performance as the combination of structural tailwinds and cyclical opportunities.
As inflation and growth dynamics vie with political risk for investor attention next year, we anticipate fresh volatility – and opportunity – in this higher-rate environment.
We’ve now put together a summary of the progress since our roadmap was published covering the work done up until the end of 2022.
How cuts to bank lending could grow the asset class
We remain cautious on near-term performance at the all-property level, given persistent upward pressure on yields, but some of this pressure has reduced as inflation has decelerated. UK real estate appears closer to the end of its re-pricing journey than in other geographies
A year on from the inflation genie being released from the bottle, inflation is still nowhere near its long-term target level. Against this background, we examine the impact of a ‘higher-for-longer’ environment on private credit.
The US Inflation Reduction Act (IRA) will unleash billions of dollars of funding for climate and clean energy over the next decade. Europe has been under pressure to come up with a similar package - but how will it respond?
In this outlook, we assess why private credit has generally been resilient for the first half of 2023. But as we head into the second half of the year what’s behind the growing divergence between defensive and cyclical issuers?
During the passage from winter to spring, markets have continued to be swayed by the same drama that dominated investor attention in 2022: central bankers’ high-stakes efforts to rein in inflation, without sabotaging financial stability.
As the dust begins to settle following a turbulent 2022 and the recent banking crisis, we reflect on the varying dynamics of private credit markets, their differentiation and their role in investor portfolios
As the macroeconomic environment shifts from one of low to higher interest rates, Marija Simpraga assesses how this may affect returns for investors in renewable energy projects.
As 2023 unfolds there remain several plausible outcomes for the performance of UK real estate. In our view, the repricing seen over 2022 positions the sector relatively favourably.
With the UK government committed to net-zero carbon emissions by 2050, there’s a growing focus on the transition readiness of UK real estate sectors, and the implications for portfolios.
This past year has been one of the worst periods on record for investors. We assess what could signal a turnaround in 2023.
As delegates gather at COP27, they confront the same long-term challenge posed by climate change as they did last year. But the context has changed dramatically: in light of the war in Ukraine, governments need to balance net-zero goals with a new imperative for energy security.
While investors have typically looked to commodities as an inflation hedge, a lack of income, coupled with volatile prices, has resulted in low risk-adjusted returns. Can direct energy investments help investors guard against rising prices?
E-commerce has changed the way we shop in a rapid space of time, growing at an annual average of 17% according to ONS calculations. But our demand for quick, reliable delivery has driven up the demand for logistics-capable properties closer to urban centres
Looking back, private markets have experienced robust returns, with 2021 making a high point. Fast forward to this year and the six months to June 2022, and the wider economic and markets environment is barely recognisable.
In our market outlook at the start of the year, we noted that investors should prepare for the unexpected, since we believed the road ahead was unlikely to be smooth. We were correct in our thinking, but not in the way we envisaged.
The needs-based occupier demand for housing, particularly in the UK, with its fundamental imbalance of demand and supply, allows for resilient and potentially growing occupier demand despite slowing UK growth.
In addition to precipitating a devastating humanitarian crisis, Russia's invasion of Ukraine has sent ripples across markets and raised significant questions for investors over the long term.
COMMENT “How?” is the most important question when it comes to prioritising ESG. The ESG narrative has been bubbling away across both the financial sectors and society for some time.
While consensus forecasts suggest further economic recovery in 2022, we remain prepared for bumps in the road.
Denz Ibrahim, Head of Retail and Futuring for Legal & General Investment Management, explains how it is reimagining shopping centres as places for people to gather for experiences.
The growth in private markets, helped by institutional participation, has been one of the most prominent investment themes of the past decade.
While buildings have a major part to play in supporting the transition to a low-carbon economy and society, many continue to operate at standards that are not consistent with meeting the objectives of the Paris Agreement on climate change.
Read our Active Ownership report to see how we use our scale and influence to bring about real change in the companies and markets we invest in.
Forecasting the economy and property markets remains very challenging, but since our last update we know more about the economic damage caused by the first wave of the Covid-19 virus
Covid-19 and the resultant economic impacts represent a genuinely unprecedented set of circumstances in which to forecast real estate equity returns.
Those who choose not to embrace this shift could be left behind. Those who challenge convention, embrace technology and change their mindsets to a service oriented model will likely deliver better outcomes for owners and occupiers alike.
