Credit – Page 6
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Features
Briefing: Credit-risk niche gains interest
In a world of prolonged low interest rates, institutional investors are scouring different pockets of the investment landscape to generate additional returns. One area is capital regulatory transactions, which are far from new but are being put under the microscope for their potential as part of an alternative credit portfolio. However, these transactions can be more complex than other alternative credit asset classes and require specialist expertise, skills and understanding.
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FeaturesStrategically speaking: Hayfin – no hayseed
Europe’s abortive football super league didn’t collapse from want of loan capital this April. It collapsed, instead, because of a catastrophic lack of cultural fit with the ethos of the sport.
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Asset Class ReportsAsset class report – Fixed income & credit
As the world still grapples with the implications of the COVID-19 pandemic, credit investors continue their search for attractive yields in an environment where liquidity, even for long-term investors, could become critical. In this report, we look at different aspects of the fixed income & credit universe, including multi-asset credit strategies, the changing US high yield market, and the opportunities for institutional investors in trade and supply-chain finance.
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Asset Class ReportsMulti-asset credit: Switching tactics to deal with volatility
MAC strategies allow investors to shift investments tactically to capitalise on a wide range of niche markets
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News
Norway’s Government Bond Fund winds down some activities
Established last year as a COVID-crisis measure, the fund is now reining in activity for safest borrowers
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Asset Class ReportsHedge funds and distressed debt: Competition for assets will be fierce
Hedge funds will have to compete with private equity and credit funds for distressed opportunities following the pandemic
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News
Danish FSA warns pension funds of weaker illiquid credit loan terms
Pension providers should note “any possible structural shifts in the loan markets”, says watchdog
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News
Danish watchdog calls out pension fund P+ for illiquid credit failures
FSA found lack of limits could have allowed fund to hold too much in the asset type
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Asset Class ReportsInvestment Grade Credit: Always a demand for quality
Capital markets are fluctuating between optimism and pessimism
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Asset Class ReportsAsset class report – Investment grade credit
The US credit market is heading for change under new President Joe Biden’s administration
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News
Sampension: November rally lifted YTD returns into solid plus zone
News of COVID-19 vaccine successes propelled Danish firm’s market-rate pension return to 4.17% year-to-date
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NewsLGPS Central names managers for multi-asset credit fund
Each manager to get half of total £660m mandate
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News
Norway’s domestic SWF gets specific on ESG demands for bonds
Folketrygdfondet hopes update of expectations document will aid risk pricing
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NewsMandate roundup: LGPS pool names MAC specialist managers
Plus: Swiss plan tenders out $200-400m emerging market small cap mandate, Record lands $8bn mandate
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News
High hedge fund allocation stunts Varma’s Q2 recovery
Finnish pensions insurance giant sees 5.7% H1 investment loss – falling short of peers
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News
WTW: Passive managers ‘disappoint’ as stewards of fixed income
Stewardship in fixed income is a position of significant influence, says consultancy
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NewsBrunel PP seeks managers for £1.5bn MAC, £1.2bn corporate bond funds
The MAC portfolio will invest in high yield corporate bonds, bank loans, asset-backed securities and emerging market debt
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News
BTPS keen for big voice in ESG/fixed income debate, says CEO
Credit rating agencies should step up their game on ESG, Nilsson says
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Asset Class Reports
Credit: PGGM - A partnership approach
PGGM has taken its credit-risk-sharing strategy a step further by forging a partnership with Sweden’s Alecta
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InterviewsOn the record: Safety in asset-backed credits
Simon Davy, head of private markets at the UK’s Local Pensions Partnership, discusses the outlook for alternative credit
