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Embedding ESG factors in the investment decision-making process

RPIA has developed a carbon-reduced fixed income solution with University of Toronto Asset Management. We believe our commitment to ESG will result in better long-term results for our clients.
Q3 2020 Quarterly Commentary

September was a welcome reminder of the valuable role credit can play in dampening portfolio volatility. Despite a strong market during the summer, elevated dispersion means plenty of attractive opportunities in global corporate bonds.
August 2020 Newsletter

Financial markets ended the summer on a high note but are pricing volatility ahead. We are focused on the November election and the implications across sectors and issuers we own in the portfolios – with a focus on balancing exposures for a Trump or Biden win.
July 2020 Newsletter

Financial markets continued to recover with strong performance in corporate bonds. The focus continues to be conservative core positioning with selective exposure to areas of the market where the Federal Reserve is not an active participant
Q2 2020 Newsletter

After markets delivered better returns in Q2, we review how our portfolios re-positioned against a different market backdrop. We also highlight two sectors where we are seeing interesting opportunities: aircraft leasing and real estate.
May 2020 Newsletter

Positive performance continued in May as markets looked past short-term pain to the gradual re-opening of the economy. While there are many roads on the path to recovery, we continue to think a Federal Reserve backstop, income and further spread compression make credit an ideal asset class versus equities.
April 2020 Newsletter & Webinar

Corporate bonds bounced back in April - but there was significant dispersion in performance across sectors and companies. We believe this represents an opportunity for us in the coming weeks and months.
April 22, 2020 Market Update Call

Richard Pilosof, CEO, and Louise Pitt Brindle, Head of Credit Research, hosted a call to briefly review the performance we have seen month to date, and to talk about the opportunities we are currently seeing in the market.
Q1 2020 Quarterly Commentary

After a violent repricing of markets, Central banks have acted quickly to backstop credit markets in an unlimited fashion. This has created a unique opportunity for us to invest in quality, defensive businesses that will exist post-COVID-19 at levels not seen in over a decade.
Committed to our clients and our employees during uncertain times

As COVID-19 becomes widespread, we are committed to keeping our employees and their families safe and healthy, while continuing to manage portfolios and maintaining service to our clients without interruption.
February 2020 Commentary

In February, we saw heightened uncertainty as COVID-19 cases spread beyond China, and dramatically repriced risk across all asset classes in the market. Through this volatile time, we continue to reduce risk in the portfolios while also finding selective opportunities.
While sustainability is the destination, transition is the way to get there.

As ESG factors become increasingly important to investment decisions, the focus has moved away from the binary distinction between brown and green bonds, to concentrating on incentivizing the transition from brown to green at the company level.
Market insights amidst the global spread of Covid-19 - updated on February 28, 2020

The substantial rally in credit and equity markets came to quite an abrupt halt this week. What does this mean for credit markets and our funds?
January 2020 Commentary

While the new year started strong thanks to improving macroeconomic data, exogenous shocks such as Iranian-U.S. aggressions and the novel Coronavirus reintroduced volatility into the market.
Q4 2019 Commentary

Given our flexible and highly active approach to investing, we are excited about the opportunities for the coming year – and we welcome the opportunity to differentiate ourselves from more traditional managers.
For Q3 2019 most of the volatility was driven by macroeconomic headlines.

This whitepaper investigates how macro headlines dominated the quarter with continued focus on China/US relations. We will continue to see monetary easing but don’t think negative rates are coming to North America.
The discussion in North America and the U.K. is different to what has driven negative rates in the Eurozone.

Louise Pitt Brindle, Head of Research at RPIA, provides commentary on possible negative rate events in the foreseeable future in North America.
Searching for income in preferred shares

This article includes commentary on how low global yields have pushed investors to search for income wherever they can find it, including preferred shares, touted as fixed income-like instruments with higher yields.
Not Low Enough

This article consists of commentary on the Fed's first rate cut in 10 years, Fed stimulus, and the factors that can push spreads lower, especially in the BBB space.
With forward returns for traditional asset classes expected to remain modest, we believe investors can benefit investors can benefit from the active management found in alternative strategies

Until recently, alternative investments have been almost exclusively available to institutions and high net worth investors who have used these strategies to generate returns in low rate environments, preserve capital in down markets and produce a steadier path to their target returns - improving their overall investment experience.
Recent regulatory changes now level the playing field giving retail investors access to the benefits of alternative solutions in a more liquid mutual fund structure.
An 'alternative'choice now exists to diversify portfolios outside of traditional equity, bond and cash assets.