MetLife Investment Management -Wed, 10/11/2023 - 13:35

Relative Value & Tactical Asset Allocation Q4 2023

Key Takeaways

Divergence in global monetary policy has become more obvious, with emerging economies cutting interest rates.
Global economic growth is expected to slow further, putting downward pressure on global government bond yields.
Valuation risks across credit markets remain high, with credit fundamentals mostly weakening.
While home prices have held up, changing bank capital regulations and student loan payments may impact the current market dynamics.
Agriculture fundamentals remain healthy, while office continues to be the most concerning sector.
We believe that current equity valuations are too high, while cash investments remain attractive.

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Contacts

With more than 150 years of heritage, we deliver stability, disciplined risk oversight, and aligned investment strategies purpose-built for insurers. Our conviction-led, specialized teams span public and private markets, targeting dependable income and long-term total return. Recognized by Pensions & Investments as one of the world's Top 10 third-party insurance asset managers, we combine scale and expertise to help insurers address increasingly complex investment challenges. From strategic asset allocation to innovative, capital-efficient portfolio construction, our dedicated insurance specialists design solutions around each insurer’s unique objectives. Backed by on-the-ground expertise in 19 countries, we navigate regulatory and capital constraints with confidence across life, health, P&C and reinsurance.

MetLife Investment Management
One MetLife Way
Whippany, NJ 07981

Madhavi Chugh, CFA
Global Co-Head of Insurance Solutions
madhavi.chugh@metlife.com
(609) 216-6691

Jeannine Heal, CFA
Global Co-Head of Insurance Solutions
jeannine.heal@pinebridge.com
(732) 778-4734

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