Fixed Income – Page 17
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NewsNordic pension funds tilt equity portfolios to value amid high inflation
Persistent high inflation could cause headaches for some providers, due to inflation-linked benefits - but hopes are high for slower price rises
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NewsERAFP’s €300m equity mandate to be benchmarked to Scientific Beta’s climate index
Plus: Institutional investor seeks manager for €70m corporate bonds brief
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NewsInarcassa ups bonds, cuts equities in new strategy
The scheme has also decided to integrate a sustainability element in its latest asset allocation strategy
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Asset Class ReportsAsset class report – Fixed income
Last year was the worst in recent decades for both government bonds and credit, with portfolio returns worse than most professionals have experienced in their careers. But is the tide finally shifting as inflation starts to moderate and terminal policy rates are in sight? In any case, geopolitical risks and inflation are not set to go away, and recession will inevitably take a toll on corporate issuers.
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Asset Class ReportsFixed income: Transition plans and green bonds
Should companies publish climate plans before they can issue green bonds?
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FeaturesFixed income, rates & currency: Inflation strengthens its grip
Whereas news of the hostilities in Ukraine may be losing their potential to shock and dislocate the world economic order, inflation news has maintained its powerful hold over financial markets across the world throughout 2022, with many economies recording their highest inflation levels for decades.
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Asset Class ReportsFixed income: Paradigm shift for investors
Credit is looking more attractive on a risk/reward basis for new investment, but the factors that led to the 2022 volatility have not disappeared
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NewsIlmarinen adds foreign property and corporate bonds to climate goal
Finland’s number two pensions insurer adds new asset types to climate road map published last year
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Special ReportProspects 2023: Does zero China make sense?
Many investors are avoiding the People’s Republic, but they would do well to look at the reality
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FeaturesFixed income, rates & currency: Recessions - but when?
With the fourth consecutive 75bps hike in rates delivered in November, US Federal Reserve chair Jerome Powell suggested that the pace of the hikes might be slowed in the coming months (so slightly dovish), but then said that the terminal rate and how long it would be held was more important than the speed of tightening (back to hawkish). The initial dollar sell-off was unwound by the end of the press conference.
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Norway liquidates crisis bond fund despite resurgence of high rates
Folketrygdfondet announces gradual shutdown of Government Bond Fund, set up in 2020 to help lockdown-hit Norwegian companies
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Opinion PiecesViewpoint: Asset allocation – factoring inflation
As inflation keeps beating records, real incomes remain under pressure and the standard approaches to diversification are challenged
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FeaturesUK sovereign debt in turbulent waters as challenges remain
The buttoned-up Gilts market has never seen or done anything like it. Trusty stalwart of liability matching for defined benefit (DB) pension schemes, the blue-chip security has already poleaxed a British chancellor of the exchequer just a month in office, and has effectively done the same to prime minister Liz Truss.
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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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Opinion PiecesAn uncertain outlook for UK pension journey plans
Following the Bank of England’s (BoE) emergency intervention announced on 28 September to stem the sell-off of long-dated UK government bonds, UK defined benefit (DB) pension funds were kept busy, as falling Gilt prices over the past weeks caused mark-to-market losses in liability-driven investment (LDI) strategies.
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NewsUK pensions committee launches inquiry into DB schemes with LDI
Inquiry will focus on impact of recent volatility in Gilt yields on DB schemes with LDI strategies and their regulation and governance
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UK pensions industry to keep vigilant despite stable bond yields following ‘mini budget’ u-turn
The near-term technical picture is not a positive one, says Hymans Robertson
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Danish PFs: UK LDI fright shows need for stress tests, central clearing rethink
Sampension, PFA CIOs say UK-style crisis less likely in Denmark because of larger, more liquid euro market
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DB pension schemes ‘are not at risk of collapse’, says TPR
Regulator’s CEO says ‘it is absolutely clear that there have been liquidity issues in some of the funds’
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NewsPPF’s 7800 index October update shows increase in aggregate surplus
An improved funding position has made insurance more affordable, opening up new opportunities for schemes to pursue derisking activity, says Standard Life
