All Alternatives articles – Page 160
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Features
New twist to an old idea
After an investor approves an allocation to funds of hedge funds the question arises of which structure to use. For many, the most common form of investment will be through shares in an open-ended company, often set up as a limited liability partnership, or through one of many structured products ...
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Features
Increase your options
The creation of the euro played a bad trick on currency managers. To begin with, currency managers had strong performance and information ratios, and this was managed with only 20 currencies (which given cross hedging gave a fair opportunity set). A number of research studies suggested that the alphas in ...
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Features
A tale of two indices
Are emerging markets currencies a source of pain or pleasure? Looking at MSCI EMF equity index returns, investors might be forgiven for thinking the answer is always ‘pain’. However, the ELMI+ index of currency forward contracts tells a potentially more pleasant story. Given the significant return volatility patterns evident in ...
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Features
Mainstream or not?
The poor performance of major equity markets in recent years and falling bond yields have encouraged greater focus on so-called ‘alternative assets’. Commercial property investment is often conveniently placed in this category, along with private equity and hedge funds. But is such a classification helpful or meaningful? The term ‘alternative’ ...
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Features
A punt on paint
If you’re looking for an example of a sector pension funds should avoid, first impressions suggest fine art is hard to beat. Prices are difficult to predict, pieces can take ages to sell and trading costs and insurance are high. Annual dividends are non-existent, periods move in and out of ...
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Features
PIPE of peace
Few financing structures in recent memory have had the impact of private investments in public equity (PIPEs). Privately negotiated equity or equity-linked securities issued by public companies, PIPEs gained notoriety during the tech boom. Their standing soared and then crashed with the Nasdaq. But these structures have reclaimed some of ...
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Features
On the rails
The emergence of infrastructure as an asset class has largely been driven by macroeconomic factors, explaining to some extent the varying stages of maturity in different countries. Traditionally governments have facilitated investment in infrastructure either by directly financing and building roads, railways, electricity grids and telephone lines, or by subsidising ...
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News
Credit Suisse AM sees asset-allocation role
EUROPE – Institutional investors will increasingly seek asset-allocation advice from their fund managers rather than from their consultant, believes Credit Suisse Asset Management.
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News
Hedge fund assets now almost $665bn – report
GLOBAL – Hedge fund assets are now almost 665 billion dollars, a record, according to Hedge Fund Research.
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News
UBS GAM says its institutional margins rise
SWITZERLAND – The margins on UBS Global Asset Management’s institutional business rose to 35 basis points in the second quarter, up from 29 basis points in the first quarter of the year.
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News
Morley wins E2.9bn in new mandates
UK – Morley Fund Management has won two billion pounds (2.9 billion euros) of new external mandates this year so far – up one billion pounds on the same period last year.
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News
Pioneer names German alternatives sales head
IRELAND – Germany’s proposed legislation on hedge funds of funds has led Pioneer Investments to bolster its alternative investment sales team for Germany and Austria.
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News
Pension fund seen as key to Belgacom privatisation
BELGIUM – The Belgian government may have to take over Belgacom’s employee pension fund if it is serious about privatising the national telecoms operator.
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News
FirstRand signals sale of Ansbacher
EUROPE – South African financial services firm FirstRand has announced it will be looking to sell or part-sell Ansbacher -though it will retain the multi-manager subsidiary.
