DWS Research Institute

original ideas | made clear

The DWS Research Institute produces valuable insights in order to help our clients. It is powered by experts from across DWS as well as academia, industry and think tanks.

Aug 24, 2021

DWS Long View | The impact of rates on returns

By: Francesco Curto, Jason Chen

Multi Asset, Equities
Aug 04, 2021 Inflation

The impact of rising rates and inflation on equities

By: Francesco Curto, Colin McKenzie

Higher rates driven by higher growth expectations should be broadly positive for equity markets (especially at the cyclical end).

Inflation, Equities
Jun 30, 2021 Sustainability

Exploring the financial materiality of social factors

By: Michael Lewis

In this paper, we examine the social factors that pertain to companies and why this is attracting increasing attention among institutional investors.

International, ESG, Sustainability
Jun 24, 2021 Multi Asset

Liquid alternatives in multi-asset portfolios: Smoke and mirrors or a true paradigm shift?

By: Peter Warken, Marc Möhrle

Multi Asset
Jun 03, 2021 ESG

Why ESG reporting requires scientific verification

By: Francesco Curto, Michael Lewis

A credible set of sustainability reporting standards need to be science-based, incorporate double materiality, and go beyond simply climate-related financial risks to broader sustainability issues such as inequality, human rights, water risk and biodiversity loss.

ESG, Sustainability
May 11, 2021 Inflation

DWS Long View | Inflation

By: Francesco Curto, Jason Chen, Martin Moryson, Dirk Schlüter

Within this report, we present the DWS long-term capital market assumptions as of the end of March 2021 for major asset classes.

Inflation, Macro, Multi Asset, Fixed Income, Equities
Mar 24, 2021 ESG

Making Sense of a Chaotic ESG Reporting Landscape

By: Francesco Curto, Michael Lewis

Traditional approach to corporate reporting and the drive towards sheer profit maximisation has led to environmental damage, human rights abuses and greater inequalities

ESG, Sustainability
Mar 08, 2021 ESG

The paths of responsible investing in China and Europe

By: Katherine Han, Sisi Liu, Michael Lewis

In this joint white paper, Harvest and DWS compare and contrast the drivers of responsible investing in China and Europe. We explore the pros and cons of the approaches adopted and provide our recommendations to support the market’s growth.

ESG, Multi Asset, Sustainability
Feb 25, 2021 Multi Asset

DWS Long View

By: Francesco Curto, Jason Chen, Dirk Schlüter

The green decade

ESG, Multi Asset, Alternatives, Equities, Fixed Income
Feb 19, 2021 Multi Asset

Forecasting ten year return and volatility for the CSI 300 index

By: Eric Legunn, CFA, Robert Bush, Jason Chen

A cautious and systematic assessment of potential returns over the next decade suggests that China A-Shares, may still offer similar return potential as U.S. Equities.

Multi Asset
Jan 20, 2021 ESG

DWS and WWF research highlights why we can no longer afford to neglect water risk

By: Alexis Morgan, Francesco Curto

DWS and WWF, the largest independent conservation organization in the world, have co-authored an article highlighting the importance of underpinning investments with a clearer approach to water risk and opportunities.

Sustainability
Dec 15, 2020 ESG

ESG in Strategic Asset Allocation (SAA): A practical implementation framework

By: Gunnar Friede, Guido Lombardi, Peter Warken, Jason Chen, Dirk Schlüter, Robert Bush, Francesco Curto

ESG, Multi Asset
Nov 30, 2020 ESG

A transformational framework for Water Risk

By: Francesco Curto, Michael Lewis, Murray Birt

An institutional framework on addressing water risk across asset classes

Sustainability, ESG
Nov 10, 2020 ESG

Sustainable Energy Trends: Small is Beautiful

By: Murray Birt, Gianluca Minella, Aizhan Meldebek

ESG
Nov 04, 2020 Multi Asset

DWS Long View - Update

By: Francesco Curto, Sarvesh Agrawal, Jason Chen, Martin Moryson

Within this report, we present the DWS long-term capital market assumptions as of the end of September 2020 for major asset classes.

Multi Asset, Fixed Income, Equities
Oct 06, 2020 ESG

The U.S. election and America’s ESG journey

By: Michael Lewis, Jason Chen

How sub-national actors have taken center stage in climate action

Elections, ESG, Americas
Sep 11, 2020 ESG

Stakeholders and shareholders

By: Gunnar Friede, Murray Birt, Michael Lewis

Why Milton Friedman got it wrong

ESG
Aug 07, 2020 Multi Asset

DWS Long View - Update

By: Francesco Curto, Sarvesh Agrawal, Jason Chen, Martin Moryson

Over the past quarter it has become clear that with the ongoing crisis the impact on corporate fundamentals may be comparable to those witnessed in 2009.

Multi Asset, Fixed Income, Equities
Jul 13, 2020 Macro

Dilution Risk in the US Banks

By: Francesco Curto, Sarvesh Agrawal

In a report in Apriltthe dilution risk in equities from the economic downturn triggered by the lockdown related to the COVID-19 pandemic was analysed. Now we look at those scenarios using the results of the Federal Reserve’s 2020 stress test of US banks.

Macro, Global
Jul 06, 2020 ESG

How best to measure asset managers’ credentials when it comes to ESG

By: Wan Huang, Michael Lewis

A transparent approach is required particularly when it comes to measuring ESG AuM, assessing proxy voting track record and understanding ESG datasets.

ESG
Jun 12, 2020 ESG

Investing for a green or dirty planet

By: Francesco Curto, Murray Birt, Michael Lewis, Sarvesh Agrawal

Climate risk and corporate capex

ESG
May 25, 2020 ESG

Green, healthy buildings as economic stimulus

By: Murray Birt

EU policy recommendations on starting a paradigm shift

ESG
May 20, 2020 Research Paper

Real estate and ESG in a post-COVID world

By: Jessica Elengical, Gregory Herriman

How the priniciples of sustainable real estate can improve outcomes during the crisis and beyond.

ESG, Global
May 07, 2020 Multi Asset

DWS Long View: The impact of COVID-19 pandemic on long-term return forecasts

By: Francesco Curto, Sarvesh Agrawal, Jason Chen, Robert Bush

Following the COVID-19 crisis, we have conducted a thorough analysis on the impact of the crisis on the DWS Long View. This update is essential reading to understand how this crisis has fundamentally impacted asset class returns for the next 10 years.

Multi Asset, Fixed Income, Equities
Apr 23, 2020 Macro

History Lesson II – Estimating the dilution from a COVID-19 recession for equity investors

By: Francesco Curto, Sarvesh Agrawal

Equities have displayed remarkable resilience so far in this crisis. The first quarter fall in equity prices was steep with the S&P 500 down 20%, a record for the first quarter. But, considering the magnitude of the crisis, some have argued that equities should have fallen by more.

Macro, Global
Apr 06, 2020 ESG

How Covid-19 could shape the ESG landscape for years to come

By: Michael Lewis, Murray Birt

From more rigorous integration of social issues into the investment process to the strategic case for sustainable investments.

ESG
Mar 26, 2020 Macro

The response to the Coronavirus epidemic

By: Andrew Pidden, Priscilla Lu

As long term investors we believe in investing where there is demand and critical need and long-term drivers of growth.

ESG
Mar 20, 2020 Macro

History Lessons - why do markets sell-off and then rebound

By: Francesco Curto, Sarvesh Agrawal

In a nutshell, the answer is fear. The common perception is that collapsing earning expectations during recessions drive share prices. However, they explain only a small part of the price move.

Global, Macro
Mar 13, 2020 ESG

ESG investing - getting under the hood

By: Robert Bush, Jason Chen, Eric Legunn, CFA

Environmental, Social, and Governance (ESG) investing has gathered significant momentum over recent years. This momentum has occurred as investors aim to include material extra-financial information into their investment process with the aim of improving the return characteristics of a portfolio.

ESG
Feb 10, 2020 Multi Asset

DWS Long View

By: Francesco Curto

In our updated DWS Long View we outline why we believe that expected returns will be lower over the next ten years than they were in the past.

Fixed Income, Equities, Multi Asset
Feb 06, 2020 ESG

How European insurance regulators are responding to climate risk

By: Michael Lewis, Murray Birt, Marlon Rockenfeller, Thomas Gillmann

Efforts to measure, stress test and manage climate risks among insurers are accelerating

ESG, Europe
Nov 18, 2019 ESG

Integrating climate transition risk into investment portfolios

By: Michael Lewis, Carsten Keil

Climate change is a significant risk for investors, from the financial losses incurred from extreme weather events, the asset re-pricing in the transition to a low carbon economy to the use of law courts as a new instrument to enforce and accelerate climate change action.

ESG, Global
Oct 29, 2019 ESG

Why emerging markets are defined by ESG

By: Michael Lewis

ESG forces are moving deeper into emerging markets from the network of central banks sharing best practice, stock exchanges mandating ESG disclosure requirements, regulators acting in the area of fiduciary duty and the launch of new EM-focused investment products.

Central banks, ESG
Oct 09, 2019 ESG

Responsible investing - The world tour

By: Michael Lewis

How the U.S. is playing a leading role, why ESG is particularly relevant for Emerging Markets, and Europe’s ambitions to be a global rule setter

Europe, ESG
Jul 24, 2019 ESG

German Corporates & Sustainability

By: Michael Lewis, Murray Birt

German corporates are faced with significant risks and opportunities when it comes to sustainability and specifically climate change.

ESG
Apr 29, 2019 Private Equity

Have your private equity cake and eat it

By: - Managing Partner, Private Equity Mark McDonald

Up until now, investors in private equity had to choose between the superior alpha of direct buy-outs or a secondary market that offered more liquidity and less risk.

Private Equity
Jan 31, 2019 Multi Asset

Multi-Asset Longview

A new DWS study examines the most important asset classes’ long-term return expectations. The "Multi-Asset Long View" offers long-term investors valuable insights for their portfolio composition.

Fixed Income, Equities, Multi Asset
Jan 28, 2019 ESG

Ambitions of the EU Sustainable Finance Action Plan

By: Michael Lewis, Murray Birt

The Why, The What and The How

Politics
Nov 28, 2018 ESG

Green bonds explained

By: Michael Lewis, Murray Birt

Green bonds are an important part of a portfolio that is aligned with the low-carbon transition.

Fixed Income, Politics
Nov 23, 2018 ESG

Experts on climate change

By: Murray Birt

Everything you need to know about climate change from a scientific, legal, actuarial, accounting, investment consultant, and portfolio management perspective.

Politics
Nov 07, 2018 ESG

Greening the financial system and the role of central banks

By: Michael Lewis, Murray Birt

Central banks are increasing their efforts to promote the transition to a more sustainable financial system

Politics
May 01, 2018 ESG

Leaders Low Carbon

By: Michael Lewis, Murray Birt

Responsible investing that reduces your carbon footprint.

CIO View

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