All Equities articles – Page 86
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Asset Class ReportsValue traps
Michele Gambera uses UK equities to reveal how excluding or including companies with negative earnings skews the P/E ratio of the market
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Asset Class Reports
Not just all-in on BRICs
Joseph Mariathasan and Martin Steward research some of the top performers in emerging market equities and finds considerable diversification, not only between top-down and bottom-up approaches, but between valuation methodologies
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News
Equities recover but still deliver ‘worst decade’ performance
[16:45 CET 04-01] GLOBAL – MSCI Barra, the provider of equity market benchmark data, said strong performance of major regional equity indices indicated a recovery in stock markets last year. Yet rival provider S&P Indices said equities also delivered the worst 10-year performance ever recorded during the Noughties.
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Asset Class Reports
Where next for hedgies?
Market conditions, consolidation and regulatory developments are changing the landscape for hedge funds. Jean-Charles Bertrand explores the new topography
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Asset Class ReportsStill the wild frontier
US small and mid caps remain the crucible of corporate capitalism and opportunity. But Joseph Mariathasan finds that the challenge is in steering through the sheer variety of stocks and managers
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Asset Class ReportsCrowded out
One might imagine small-caps markets to be hives of alpha-generating inefficiency and anomaly – and yet Joseph Mariathasan finds that returns in Europe are dominated by beta
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News
Gloucestershire appoints global equity manager
[17:00 CEST 11-09] UK - Gloucestershire County Council has appointed GMO as global equity manager for its £737.5m (€843.2m) pension fund.
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Asset Class Reports
Alpha from uncertainty
The market crash and subsequent super rally has investors in disagreement over the prospects for US equities. This suggests that active management will now make a difference, writes Joseph Mariathasan
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News
Lincolnshire seeks global equity manager after strategy review
[16:40 CEST 17-08] UK – Lincolnshire County Council has initiated a tender search for one or more managers to run a £200m (€231.9m) global equity portfolio for its local government pension scheme, following a review of its asset allocation strategy.
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News
Equity gains not enough to offset bond yield changes
[16:30 CEST 03-08] UK – Equity gains in the recent stock market rallies have not been “substantial” enough to offset falls in corporate bond yields, Aon Consulting has warned, and the result for the 200-largest defined benefit (DB) schemes was an aggregated deficit of £72.8bn (€85.7bn) by the end of July.
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Asset Class ReportsThe hunt for treasure
Rather than worrying whether the recent emerging market equities rally is sustainable, investors who believe in a long-term growth story should not attempt to time the unpredictable, finds Joseph Mariathasan
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Asset Class Reports
Africa: the efficient frontier
“Africa is where Asia was 20 years ago,” says Richard Segal, a strategist with African financial services firm UBA Capital. “The question is, will Africa be where Asia is now in 20 years’ time?” It certainly struggles against many questionable assumptions. First, that it simply isn’t relevant as an investment ...
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News
Pensions funds buy back into equities
[16:00 CEST 12-06] NETHERLANDS – Dutch pension funds invested over €21bn in securities again in the first quarter of this year, though the bulk of that money headed for bonds and the purchase of equities did not offset losses, figures from the pensions regulator have revealed.
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Asset Class ReportsBanking on animal spirits
Global equity valuations – both absolute and relative to credit – are proving difficult to pin down. Joseph Mariathasan finds managers tiring of paying a premium for defensiveness but are hopeful that ‘animal spirits’ can sustain an upward trend
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Asset Class ReportsA nuclear winter?
Managers are working out when and how to position their portfolios to benefit from an eventual economic recovery,finds Joseph Mariathasan
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FeaturesEdgy on equities but eager for infrastructure
In many areas Norway has carved out its own distinct path. Kjetil Houg, finance director at Oslo Pensjonsforsikring, tells Nina Röhrbein how this has helped the country’s largest local authority pension scheme to navigate the market crisis
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Asset Class ReportsLessons from the Great Depression
Navigating the smaller end of the equity markets is particularly hazardous and Joseph Mariathasan assesses whether the past can offer a compass
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Asset Class Reports
Those twin deficits
So the US has the same president for the next four years, and it seems to be a case of ‘better the devil you know’, as far as bond and currency market participants are concerned. For Bruno Crastes, head of global fixed income at Credit Agricole Asset Management (CAAM), bond ...
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Features
Playing safe in Europe
The question that has been puzzling Euro-zone equity strategists is why, when the sun has been shining so brightly in Europe, are the European equity markets not making hay? Yet in spite of this, European equity investors have chosen to play safe. Axel Botte, investment strategist at AXA Investment Managers ...
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Features
Value in Japan
The ups and downs of market sentiment. Feelings about the Japanese economy vary considerably. Opportunities are there but the underlying fundamentals remain uncertain. Beyond doubt is the considerable slack that remains in the system. “We don’t think that the bank of Japan will raise short term rates for quite a ...
