Asset Allocation – Page 27
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NewsAMF says no clients will avoid impact of losses if trend goes on
Sweden’s second biggest labour-market pension fund reports 11.1% year-to-date loss
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Country ReportSpain: Industry gives a partial thumbs up to pension proposals
Can Spain’s new workplace pension system work well without auto enrolment?
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Country ReportPortugal: Pension funds navigate uncertain times
Schemes are employing defensive measures to protect against portfolio risk
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FeaturesFixed income, rates & currency: The return of extreme volatility
The emergency measures swiftly enacted by policymakers and central banks in March 2020, as we locked our communities, schools and businesses down, unsurprisingly created huge volatility in financial markets.
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FeaturesAhead of the curve: Beefing up guardrails as risks rise in private credit
For US and European private credit firms, storm clouds are gathering.The recent rate hikes by the Federal Reserve, European Central Bank (ECB) and the Bank of England (BoE)have numbed activity in the leveraged loan and high-yield spaces.
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FeaturesQontigo Riskwatch - November 2022
*Data as of 30 September 2022. Forecast risk estimate for each index measured by the respective US, World and Emerging Markets Qontigo model variants
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Features
IPE Quest Expectations Indicator - November 2022
In general, political risk remained the same, except in the UK. The Russian offensive against Ukrainian civil infrastructure is useless. If it should succeed, Russia has no means to exploit it militarily. Ukraine is set to recover Kherson. In the EU, France is trying to cope with a vicious strike that blocks petrol deliveries, but its side effect is a push towards hybrid and non-petrol cars. Japan is worried over implicit North Korean nuclear threats. In the UK political risk has increased fast with a crisis caused by government tax plans that has sapped trust on several levels. The data indicate that analysts believe that the wave of interest rate increases is near (if not over) its top and that bonds are now becoming more attractive than equities for the first time in many years.
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Country ReportSwitzerland: Good returns in 2021 provide pension buffer in 2022
Deteriorating economic conditions saw Swiss pension funds return on average -10.7% for the year to end-September
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NewsCapital markets having to get to grips with new status quo, says Keva CIO
Finland’s biggest pension fund reports 6.4% investment loss for year so far
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NewsAustrian Pensionskassen cut equities, up alternative investments in H1
Austrian Pensionskassen returned -8.78% in the first half of this year, down from 7.63% recorded in 2021
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News
Veritas manages slim positive return in Q3 despite plunging equities
Finnish pensions insurer thanks alternatives for counteracting listed equities decline in January to September
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News
Danish pension funds’ global equity losses doubled in Q2
Financial watchdog expects more pension providers to impose withdrawal penalties on guaranteed products, depending on how buffers are faring
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FeaturesIPE Quest Expectations Indicator: monthly commentary
Political risk has decreased. An attack in the north-east of Ukraine took the Russian army by surprise but did not cause collateral damage in Russia. Russians’ resistance to the war is mounting but far from a critical level. It looks like the EU will survive the winter without major energy disruption and caps on energy prices are falling into place.
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Book ReviewBooks: How liquid are liquid assets?
Amin Rajan speaks to Pascal Blanqué about his latest book
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FeaturesAhead of the curve: Clearing up the ‘scaling’ confusion in carbon intensity
Today, a company’s carbon intensity is typically measured in one of two ways – scaling by revenue, or by EVIC (enterprise value including cash). The choice an investor makes can lead to differences in portfolio characteristics.
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FeaturesFixed income, rates & currency: Central banks act tough
This year’s Jackson Hole Symposium, an annual high-level event sponsored by the Reserve Bank of Kansas, yielded relatively little policy news. But the fighting talk from the US Federal Reserve and others was striking. Fed chair Jerome Powell’s speech was markedly more hawkish than expected, while Isabel Schnabel, board member of the European Central Bank, referred to the need for central banks to act ‘forcefully’ because “both the likelihood and the cost of current high inflation becoming entrenched in expectations are uncomfortably high”.
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FeaturesQontigo Riskwatch - October 2022
*Data as of 31 August 2022. Forecast risk estimate for each index measured by the respective US, World and Emerging Markets Qontigo model variants
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