Nanette Abuhoff Jacobson, managing director and multi-asset strategist for Wellington Management and global investment strategist for Hartford Funds
Daniel Cook, CFA, Investment Strategy Analyst
Over our 12-month horizon, we think vaccine news, reopening economies, and still-strong policy support will predominate and mark a turning point in the market narrative.
Katrina Price, CAIA, Investment Director
Gregg Thomas, CFA, Director, Investment Strategy
Dan Pozen, Equity Portfolio Manager
Rich Hoffman, Investment Director
Andrew Corry, CFA, Equity Portfolio Manager
Jim Shakin, CFA, Equity Portfolio Manager
Peter Fisher, Equity Portfolio Manager
Mary Pryshlak, CFA, Head of Investment Research
History wasn’t much of a guide for anything that happened in 2020. We think the year's results raise questions about market expectations and valuations and have investment implications for the year ahead.
Campe Goodman, CFA, Fixed Income Portfolio Manager
Rob Burn, CFA, Fixed Income Portfolio Manager
Despite persistent risks and challenges in today's extraordinary environment, we see areas of value and opportunity for fixed-income investors heading into 2021.
Geopolitics will remain an important feature of markets and macroeconomics in 2021. Barring a surprise, domestic policy matters—particularly COVID-19 management and economic recovery—will dominate political agendas in Washington, DC and globally.
In the short term, some level of economic deterioration can be expected. But with a COVID-19 vaccine in sight, the focus of recovery will shift to fiscal policy. The details will matter.
Wendy Cromwell, CFA, Director of Sustainable Investment
Campe Goodman, CFA, Fixed-Income Portfolio Manager
Tara Stilwell, CFA, Equity Portfolio Manager
Chris Goolgasian, CFA, CPA, CAIA, Director of Climate Research
Julie Delongchamp, CFA, Climate Transition Risk Analyst
Hillary Flynn, Director of ESG, Private Investments
Carolina San Martin, CFA, Director of ESG Research
The defining issues of 2020 were a stark reminder of the inextricable links between capital markets and real-world events. Investors are very much a part of the global economy, which is shaped by climate change, public health crises, and social justice issues.
Important Risks: Investing involves risk, including the possible loss of principal. • Foreign investments may be more volatile and less liquid than U.S. investments and are subject to the risk of currency fluctuations and adverse political and economic developments. These risks may be greater for investments in emerging markets or if the Fund focuses in a particular geographic region or country. • Fixed income security risks include credit, liquidity, call, duration, and interest-rate risk. As interest rates rise, bond prices generally fall. • Loans can be difficult to value and highly illiquid; they are also subject to nonpayment, collateral, bankruptcy, default, extension, prepayment and insolvency risks. • Investments in high-yield (“junk”) bonds involve greater risk of price volatility, illiquidity, and default than higher-rated debt securities. • There are risks of focusing investments in securities of companies in the utilities and industrials sectors which may be sensitive to developments in those sectors. • Risks of focusing on investments that involve sustainability, environmentally responsible and climate focus investment criteria may influence investment performance or competing funds expose the Fund to increased risks related to downturns or other adverse developments in that market segment.
The views expressed here are those of Wellington Management. They should not be construed as investment advice. They are based on available information and are subject to change without notice. Portfolio positioning is at the discretion of the individual portfolio management teams; individual portfolio management teams and different fund sub-advisers may hold different views and may make different investment decisions for different clients or portfolios. This material and/or its contents are current as of the time of writing and may not be reproduced or distributed in whole or in part, for any purpose, without the express written consent of Wellington Management or Hartford Funds.
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