All articles by Claire Smith – Page 2
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Features
Fitting neatly into bond portfolios
Pfandbriefe are essentially a form of asset-backed security that is primarily issued by the German mortgage banks to refinance their loan portfolios. Making up some 20% of the total lending business in Germany, the mortgage banks have been restricted by the German Mortgage Bank Act to lending on residential and ...
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Features
Making friends with split personalities
A product that offers the better of bond or equity returns looks like the ideal investment, but till now convertibles have been somewhat overlooked by pension funds. In the past the size of the market was the main drawback, since any investment would be too small to make a significant ...
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Features
Where hedge fund market falls down
Knowing and understanding the likely performance of an asset is a critical step in determining whether it has a place in the pension fund’s investment portfolio. Having effective benchmarks against which to measure manager performance is a prerequisite to proper monitoring of any investment. On both these counts, the hedge ...
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Features
Route-maps to transparency
Few of us walk down the street with a blindfold on – too many bollards, other pedestrians, plus the possibility of something unsavoury underfoot. Similarly, transparency provides investors with some comfort of arrival at the expected level of returns, with relatively few stumbles along the way. Conventional long-only funds, operating ...
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Features
Getting to grips with fund of funds managers
Hedge funds seek to make money in markets irrespective of market direction – a laudable aim, particularly in the current uncertain times. Hedge fund managers have the ability to leverage up if they are overwhelmed by opportunities, or go into cash if market conditions are not promising for their particular ...
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