All Features articles

View all stories of the same content type.

  • Laasya Shekaran
    Features

    UK creates social factors template for pension investors

    May 2024 (Magazine)

    Environmental and governance risks receive much attention, but UK and other European institutional investors have focused less on social factors and their complexities.

  • The yen hits lows not seen against the dollar since the 1990s
    Features

    US economy continues to surprise

    May 2024 (Magazine)

    The resilience of the US economy continues to confound observers. The Federal Reserve’s 11 hikes in interest rates over the course of 2022 and 2023 were implemented to rein in economic strength and to stifle inflation. Scroll forward to the second quarter of 2024 and both inflation and economic activity are still higher than expected.  

  • Ted Craig
    Features

    Private credit secondaries come of age

    May 2024 (Magazine)

    Since the secondaries market came into existence, private equity has been the dominant asset class, but the tide is turning. It is finally time for private equity’s more youthful counterpart, private credit, to receive more of our attention. The private credit secondaries market borrows various elements from its older sibling, including best practices and deal structures, and it is now demanding the spotlight as awareness of the asset class increases. 

  • Net sentiment equities
    Features

    IPE Quest Expectations Indicator - May 2024

    May 2024 (Magazine)

    EU parliamentary elections are approaching fast. Current polls predict a shift to the right, with the current centrist parties remaining dominant and the extremist right overtaking the Euro­sceptics. US President Donald Trump is still liable to be convicted in a criminal case, but his poll figures are rising. 

  • chris stevens
    Features

    Investors are paying for hedge funds' reluctance to use hurdle rates

    April 2024 (Magazine)

    Although two years have now passed since the US Federal Reserve started rapidly hiking interest rates, the likelihood that your hedge fund manager will have a ‘hurdle rate’ – a minimum rate of return before performance fees kick in – has not changed. Only a quarter of hedge funds, by our count, have such a threshold in place and the practice does not yet show signs of becoming more widespread, even though the risk-free rate has now exceeded 4% for well over a year.

  • US bank failures through the past two decades
    Features

    Reluctance to drop interest rates disappoints the markets

    April 2024 (Magazine)

    US rates markets entered the year enthusiastically pricing in over 160 basis points of cuts through 2024, and have since had to push back hard on both the timing and magnitude of interest rate cuts now expected by year-end. 

  • Buchet Damien
    Features

    An inflection point for India bonds

    April 2024 (Magazine)

    The impending inclusion of Indian government bonds (IGBs) in JP Morgan’s widely tracked $240bn (€220bn) Govern ment Bond Index-Emerging Markets (GBI-EM) index is seen as a milestone. However, while some asset managers hope it is the beginning of a more open investment culture, others are more circumspect. 

  • Net sentiment equities
    Features

    IPE Quest Expectations Indicator - April 2024

    April 2024 (Magazine)

    The shadow of the US presidential elections is longer than normal because Trump is under several legal clouds. He could still get barred from participating but that seems unlikely. He does have a liquidity problem, a self-destructive streak, a mercurial character and no credible alternative waiting in the wings, though.

  • charleston douglas
    Features

    Securitised credit keeps on shining

    March 2024 (magazine)

    For a market with a difficult past, some could even say an image-problem, securitised credit has been performing remarkably well in recent years. 

  • US Treasury
    Features

    Contrasting global economic growth fortunes

    March 2024 (magazine)

    Economic growth patterns across the world paint a picture of contrasts, ranging from surprisingly robust in the US to soft and struggling in China, with the stagnant euro area narrowly avoiding a technical recession after posting zero GDP growth in the fourth quarter of 2023, following a 0.1% decline the previous quarter. 

  • Mirabaud Asset Management graph
    Features

    A bumper year for convertible bond issuance

    March 2024 (magazine)

    The convertible bond market ended 2023 on a strong note with its main index – the Refinitiv Global Focus – returning 6% in the fourth quarter. The optimism has continued into 2024 on the back of reasonable valuations, historically low equity volatility and better opportunites. 

  • IPE Quest Expectations Indicator
    Features

    IPE Quest Expectations Indicator - March 2024

    March 2024 (magazine)

    Climate change is coming to a trend break as the low-hanging fruit has been picked.

  • New York Fed graph
    Features

    Conflict and elections set to dominate the investor landscape

    February 2024 (magazine)

    Middle Eastern tensions are running high, with violence flaring up across the wider region. Combined with the ongoing attritional destruction in Ukraine, this is impacting world trade, and it seems certain that international conflict will continue to be a source of great concern in 2024.

  • BVI Rudolf Siebel_8287_High
    Features

    MiFID II reforms: Bye bye unbundling?

    February 2024 (magazine)

    A key part of the 2018 MiFID II package, the requirement to unbundle research from execution costs shook up the European asset management industry and changed the relationship between investment managers and their clients. 

  • IPE Quest Expectations Indicator Feb2024
    Features

    IPE Quest Expectations Indicator - February 2024

    February 2024 (magazine)

    IPE’s monthly poll of market sentiment, asking 50 asset managers about their six to 12-month views on regional equities, global bonds and currency pairs

  • Features

    Insurance-linked securities wind brings good news for investors

    January 2024 (Magazine)

    In the two decades prior to 2022, the negative correlation between stock and treasury bond market returns has been a key driver of institutional investor portfolio construction. Fixed income allocations provided investors significant relief during equity market downturns and increased expected risk-adjusted returns for the popular 60/40 stock/bond portfolio.

  • Turnover in climate-aware fixed income indices can be high
    Features

    Net zero’s bond index problem

    January 2024 (Magazine)

    The fixed-income space has not been short of sustainability innovations over the years. 

  • Navigating Generative AI? Consider a Framework
    Features

    NLP can help identify linkages between equity market peers

    January 2024 (Magazine)

    Natural language processing in AI provides a way to gain insights from unstructured data at scale, allowing access to information across a broad set of investment opportunities

  • Argentine peso vs US dollar
    Features

    Will delayed economic bad news hit the market this year?

    January 2024 (Magazine)

    Global economic growth was below potential in 2023, but still markedly stronger than the forecasts had been indicating at the start of the year, with the US leading the way and even the likes of Europe and the UK, though hardly stellar performers, posting better than expected economic activity. 

  • Net sentiment bonds
    Features

    IPE Quest Expectations Indicator - January 2024

    January 2024 (Magazine)

    It is safe to predict that 2024 will be a year of desperate campaigning. Political surprises in the US and UK are possible and, this time, they do make a difference to markets