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Capital Group Issues Capital Market Assumptions

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2024 report notes outlook is positive for long-term investors; assumptions are higher for bonds

LOS ANGELES, Feb. 23, 2024 /PRNewswire/ — Capital Group, one of the world’s largest and most experienced active investment managers, issued its 2024 Capital Market Assumptions (CMAs), which represent the company’s long-term expectations for returns, as well as correlations and volatilities of major asset classes over a 20-year time horizon. Capital Group’s CMAs serve as the foundational inputs for the quantitative models that inform the firm’s solutions offerings, including model portfolios, and its target date series, which serves nearly 10 million US households.

“Overall, the outlook is still bright for long-term investors and bonds are better poised to play their role as an equity diversifier in the years ahead,” said Maddi Dessner, Head of Global Asset Class Services, Capital Group. “At the same time, strong gains across markets over the past year have tempered our expectations for equity returns relative to our 2023 estimates.”

Based on its 2024 Capital Markets Assumptions, Capital Group expects: 

6.9% annualized return for U.S. equities over a 20-year horizon, supported by estimates of GDP growth greater than 2%, increased innovation and enhanced productivity gains. In fixed income, higher starting yields will likely translate into higher expected returns across many areas of fixed income, as global central bank policies remain focused on mitigating and reversing inflationary pressures.

Equities

20-year expected returns (%)

 2024 Estimates

20-year expected returns (%)

2023 Estimates

U.S. equity

6.9

7.2

Non-U.S. developed markets equity

6.7

7.1

Emerging markets equity

7.6

9.0

Fixed Income

20-year expected returns (%)

2024 Estimates

20-year expected returns (%)

2023 Estimates

U.S. Treasury intermediate term

4.0

3.4

U.S. TIPS

4.2

3.6

U.S. aggregate

4.7

4.2

U.S. high yield

6.5

6.6

Emerging markets debt (USD)

7.1

7.6

U.S. corporate

5.5

5.1

Cash (USD)

3.3

2.3

Source: Capital Group. Year-end expected returns 2023 are as of December 31, 2023, with valuations as of September 30, 2023.

Long-run inflation will trend toward central bank targets, averaging between 2.0% and 2.25% in developed markets and 2.4% in emerging markets.

Key drivers of global economic growth should include infrastructure investment, the move toward green energy and technological advances (especially those related to artificial intelligence).

The U.S. dollar could depreciate 70 basis points against major currencies over the 20-year horizon. This is 30 basis points lower than the depreciation forecasted last year.

“Central to our approach in developing solutions for our clients is that the analysis starting point matters and we must assess a variety of asset class variables on a granular level, in order to plan for the long term,” said Dessner. “These assumptions reflect our forward-looking views spanning multiple market cycles and are meant to capture the return and volatility of asset classes within a total portfolio context.”

Capital Group’s 2024 Capital Market Assumptions are available upon request.

About Capital Group

Capital Group, home of American Funds, has been singularly focused on delivering superior results for long-term investors using high-conviction portfolios, rigorous research, and individual accountability since 1931.

As of December 31, 2023, Capital Group manages more than $2.5 trillion in equity and fixed income assets for millions of individuals and institutional investors around the world. Capital Group manages equity assets through three investment groups. These groups make investment and proxy voting decisions independently. Fixed income investment professionals provide fixed income research and investment management across the Capital organization; however, for securities with equity characteristics, they act solely on behalf of one of the three equity investment groups.

For more information, visit capitalgroup.com.

This analysis represents the views of a small group of investment professionals based on their individual research and are approved by the Capital Market Assumptions Oversight Committee. They should not be interpreted as the view of Capital Group as a whole. As Capital Group employs The Capital System, the views of other individual analysts and portfolio managers may differ from those presented here. They are provided for informational purposes only and are not intended to provide any assurance or promise of actual returns. They reflect long-term projections of asset class returns and are based on the respective benchmark indices, or other proxies, and therefore do not include any outperformance gain or loss that may result from active portfolio management. Note that the actual results will be affected by any adjustments to the mix of asset classes. All market forecasts are subject to a wide margin of error.

Statements attributed to an individual represent the opinions of that individual as of the date published and do not necessarily reflect the opinions of Capital Group or its affiliates. This information is intended to highlight issues and should not be considered advice, an endorsement or a recommendation.

Media Contact 

Natalie Marin (Los Angeles)
+1 (213) 615-4508

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SOURCE Capital Group Companies

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Connatix and JW Player Merge To Create the Industry’s Largest Video Technology and Monetization Platform

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Advanced offering brings unparalleled monetization and streaming capabilities across CTV and OLV for broadcasters, publishers, and advertisers

NEW YORK, Oct. 9, 2024 /PRNewswire/ — JW Player (JWP), the leading video streaming and data insights platform, today announced it is merging with Connatix, the leading video delivery and monetization solution, forming JWP Connatix. By unifying JWP’s broadcast-level live and on-demand streaming, data, and workflow capabilities with Connatix’s full stack advertising and content technology, JWP Connatix becomes the industry’s most comprehensive independent video technology and monetization platform for broadcasters, publishers, and advertisers.

This merger arrives as the digital video ecosystem is experiencing transformational change. Consumers are increasingly cutting the cord in favor of Connected TV (CTV) and streaming services, leading to rapid shifts in global advertising spend and the emergence of new direct-to-consumer subscription and pay-per-view offerings. In 2024, global CTV ad revenue will surpass $30 billion, while the top ten streaming services alone will support nearly 1 billion subscribers. Given this, publishers, broadcasters, and advertisers must transform their video strategies to meet these evolving viewer expectations and business needs.

“How and where viewers consume video is rapidly changing. As a result, media companies require innovative solutions that allow them to maximize audience engagement and help optimize revenue across disparate monetization models, whether it be advertising, subscriptions or commerce,” said David Kashak, Co-founder and CEO of Connatix. “Together, JWP Connatix fulfills that requirement, by accelerating our companies’ mutual visions to create environments where premium video viewing, powered by best-in-class technology, meets high-quality monetization experiences, enabling media leaders to deliver exceptional results.”

JWP Connatix creates an indispensable partner in this rapidly changing video ecosystem, powering streaming for over 2,000 blue-chip media companies, including 80% of the top 25 Comscore US publishers. As the largest independent global video network across CTV and OLV, the company reaches over 1 billion unique users and delivers 30 billion+ combined video plays and ad impressions every month. Key benefits for customers include: 

Global reach and reliable scale: Streaming 7 billion minutes of VOD and live content to over 1 billion unique users on any screen around the worldHybrid monetization models: Support for subscription, advertising and e-commerce business models, leveraging insights from content and audiences to help maximize revenueUnique insights to optimize outcomes: Leverage AI to combine trillions of contextual, consumption, and monetization data signals to match customers with content and ads, boosting engagementSingle end-to-end platform for OLV and CTV: Streamlined video management platform enabling diverse monetization opportunities across content, commerce, and creative

“By joining forces, JWP Connatix ushers in a new era for digital video. The complementary nature of our  businesses enables us to bring a unique combination of scale, product breadth, and industry expertise to the market,” added Dave Otten, CEO and Co-Founder of JWP. “Perhaps more importantly, we are bringing together two knowledgeable, and dedicated teams, whose skill-sets and values are a perfect match. We could not be more excited about this partnership and look forward to shaping the future of digital video together.”

As part of the transaction, Dave Otten will become CEO of the combined company, while David Kashak will serve as its Chairman. JWP Connatix will be headquartered in New York City with additional offices in London, Cluj-Napoca, Eindhoven, Skopje, and Tel Aviv.

About Connatix

Connatix is a video technology company that powers the world’s stories with effortless and inspiring solutions. Through a proprietary full-stack platform, Connatix helps publishers deliver, monetize, analyze and create video, while providing advertisers with premium video inventory and a collection of data intelligence solutions including Deep Contextual™and predictive audience targeting.  Sitting at the forefront of innovation, Connatix leverages the power of AI to optimize revenue and ensure relevancy, efficiency and scale across campaigns.

Connatix currently works with 350+ publisher groups across thousands of sites and leading brands and agencies. The private equity-backed business has been named an AdExchanger Programmatic Power Player for two consecutive years and included on the Inc. 5000 list of the fastest growing companies for three consecutive years. Founded in 2014, Connatix is headquartered in New York City and continues to expand its global footprint with offices in London, Cluj-Napoca, and Tel Aviv.

About JWP

JW Player (JWP) is a leader in video streaming and player technology, providing broadcasters and publishers with a platform for delivering and monetizing video content across web, OTT, CTV, and FAST platforms. JWP’s technology helps deliver exceptional video experiences, engage audiences, and increase viewing time. Pioneering innovations like HLS streaming, header bidding for video, and contextual content recommendations, JWP offers a comprehensive end-to-end streaming management platform. Founded in 2008, JWP is one of the fastest growing SaaS companies in the world with a vision to power video-driven businesses so they thrive in the digital video economy.  Serving over 2,000 global broadcasters, publishers, and video-driven brands, JWP powers video for over 1 billion users each month and 5 billion minutes of video watched. Headquartered in New York, JWP has offices in London, Eindhoven, and Skopje.

Media Contact
Cassady Nordeen
cassady@purposenorthamerica.com

 

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SOURCE Connatix

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Proteotype Awarded £1.5 Million Grant to Advance Early Cancer Detection with Innovative Enlighten® Test

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CAMBRIDGE, United Kingdom, Oct. 9, 2024 /PRNewswire/ — Proteotype Diagnostics Ltd, in collaboration with the University of Southampton, has been awarded £1.5 million in funding from the National Institute for Health and Care Research (NIHR) and the Office for Life Sciences (OLS). The grant (NIHR207538) will support clinical validation of Proteotype’s novel Enlighten® Multi-Cancer Early Detection test, a revolutionary approach to detecting early-stage cancers by focusing on the body’s response to tumour development.

A Breakthrough in Early Cancer Detection

While many cancer diagnostics rely on tumour-released signals, such as circulating tumour DNA, which is often only detectable once cancer has progressed, Enlighten® takes a different and potentially more powerful approach. It measures the host response to tumour development, tracking changing levels of proteins that occur even in the earliest stages of cancer.

Initial results have been promising. At AACR 2024, Proteotype reported a detection rate of 86% across multiple cancers, with a 0% false-positive rate and strong signals for early-stage cancers. The test now needs to be validated in a larger group of patients, enabling a statistically powered calculation of performance.

Dr. Emma Yates, co-founder and Chief Scientific Officer at Proteotype Diagnostics, said: “When cancer is discovered earlier, patients have more treatment options and better outcomes. Enlighten® is designed to disrupt, detecting cancer as early as the immune system, whilst remaining simple enough yet robust enough to fit existing care pathways and NHS needs.”

Focused on Health Equity

Enlighten® will be trialled in real-world NHS settings with a specific focus on reaching higher-risk, underserved populations. The MODERNISED clinical study, led by Professor Andrew Davies from the University of Southampton Experimental Cancer Medicine Centre, will recruit 1,350 participants across Southern England, targeting cancers with high mortality rates in socio-economically deprived areas, such as colorectal, lung, and pancreatic cancers.

Wesley Sukdao, co-founder and CEO of Proteotype Diagnostics shared: “Growing up in poverty in South Africa, I lost three of my closest family members to cancers detected too late, all before I turned fourteen. To meaningfully impact health inequalities, cutting-edge cancer diagnostics must be both affordable and accessible. My team and I are focused to deliver on this mission.”

Driving Cost-Effective Screening for the NHS

Enlighten® does not require highly expensive, specialised equipment or consumables. Affordable laboratory kits applied to crude patient plasma enable easy scale-up for mass screening. With low data requirements and results within 24-hours of sample measurement, it is well positioned for NHS-wide adoption.

MODERNISED will be accompanied by a Health Economic Evaluation to ensure it delivers clinical benefit and meets NHS financial goals.

A Critical Step Forward

This grant is part of a UK Government commitment of £22.5m to deliver the OLS Cancer Programme. The NIHR i4i-OLS call forms part of this programme. Over the next 24-months, Enlighten® will undergo clinical validation, bringing it closer to regulatory approval and potential integration into NHS cancer screening programs.

Professor Andrew Davies, Chief Investigator (MODERNISED), commented: “Enlighten is innovative, capturing changing levels of proteins released into the bloodstream even in the earliest cancer stages. If Enlighten performs well in MODERNISED, it could mark a step change in early cancer diagnostics.”

About Proteotype Diagnostics Ltd

Proteotype is a pioneering diagnostics company dedicated to the development of advanced multi-cancer early detection and personalised medicine tests that measure the host response to tumour development. By leveraging cutting-edge technologies and comprehensive research, Proteotype aims to revolutionise cancer diagnostics and improve early detection, ultimately enhancing patient outcomes and survival rates.

Media contact: pr@proteotype.com 

Email invest@proteotype.com to partner and bring this test to a clinic near you.

 

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SOURCE Proteotype Diagnostics

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DCS Awarded $70.7M Contract to Support Army’s Ground Vehicle Systems Center

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ALEXANDRIA, Va., Oct. 9, 2024 /PRNewswire/ — DCS Corporation is pleased to announce the award of the U.S. Army Combat Capabilities Development Command (DEVCOM) Ground Vehicle Systems Center (GVSC) Ground Vehicle Simulation Lab (GVSL) contract valued at $70.7M.

Under this 5-year contract, DCS will continue to provide technical services to the U.S. Army (DEVCOM) GVSC Immersive Simulation Directorate (GVSC-IS) in Warren, Michigan. GVSC-IS is home to a world-class facility that develops and applies physics-based simulations, simulators, crew station design, and virtual simulation in support of Army ground combat vehicle technology research, development, and maturation. Under this contract, DCS will provide technical services for: Immersive Ground Vehicle Simulation development, integration, and execution; Ride Motion Simulation and Crew Station/Turret Motion Based Simulation; crew station development and integration; and conduct and evaluation of Virtual Experimentation. The technology developed will advance the Army’s ability to evaluate concept and existing vehicle systems mobility, durability, and operations on the move.

“For more than 20 years, DCS has supported GVSC-IS and U.S. Army Tank-Automotive and Armaments Command in conducting motion-based and large-scale experiments at the world-class GVSL modeling and simulation facilities,” commented Bill Protzman, DCS President and COO. “We are excited to continue supporting GVSC-IS and the Warfighter.”

DCS has been a trusted partner of the U.S. Army GVSC and its predecessor organizations for more than 35 years. DCS employee-owners work alongside Government counterparts to further the research, development, acquisition, integration, testing, fielding, and post-fielding operations of manned and unmanned ground vehicles. These Government-contractor teams develop and deliver innovative solutions to support the mission of the Army.

About DCS An employee-owned company, DCS offers advanced technology, engineering, and management solutions to Government agencies in the national security sector. The transformative ideas, commitment to quality, and entrepreneurial spirit that characterize our employee-owners allow us to ensure the success of each customer’s mission and actively contribute to the well-being of the Nation. For more information, please visit: https://www.dcscorp.com

Contact: DCS Media, dcsmedia@dcscorp.com, 571-227-6000

DISTRIBUTION STATEMENT A. Approved for public release; distribution is unlimited. OPSEC9069

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SOURCE DCS Corporation

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