Fixed Income – Page 30
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NewsNEST names managers for first move into private markets
Amundi and BlackRock will manage roughly 5% of the DC master trust’s default funds with inflows expected to start in October
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Fresh QE likely to boost corporate bonds, say managers
Mario Draghi’s final appearance as ECB president bought a 10-basis-point rate cut and open-ended quantitative easing
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NewsPensionDanmark cuts bonds, adds to real assets in face of low yields
Interim report reveals PensionDanmark’s highest ever first-half return, but CEO Torben Möger Pedersen warns of low and negative yields
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NewsCould holding negative-yielding bonds clash with fiduciary duty?
Cambridge Associates says trustees and pension fund managers should review LDI mandates and passive government bond allocations
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FeaturesFixed income, rates, currencies: A bleak outcome
This year’s summer tensions in shallow markets have again been apparent. The fallout from the trade dispute between China and the US is having a global impact. Together with economic weakness almost everywhere, a global policy easing cycle could be imminent.
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Chart of the Week: The UK’s biggest asset managers
LGIM, Insight and BlackRock are increasing their dominance over the UK institutional pensions market, according to IPE research
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NewsATP’s bonus potential swells after €1.9bn bond gains in Q2
Danish pensions giant reins in relative risk in its €45bn investment portfolio, eyeing a possible recession on the horizon
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Chart of the Week: Italy’s coalition collapses – bond markets barely blink
Italian prime minister Giuseppe Conte quit his post this week, signalling the end of the controversial coalition government of the Five Star Movement and the Northern League
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Norway’s SWF holds €60bn of negative-yielding bonds
Fixed income netted the NOK9.4trn fund 3.1% in the second quarter of 2019, but a quarter of its allocation now yields less than 0%
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NewsIncluding ESG in fixed income ‘boosts market efficiency’, says Norway’s GPFN
Folketrygdfondet chiefs argue that responsible management of fixed income portfolios gives more holistic view of companies
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NewsESG overlay ‘boosts outcomes for corporate bond investors’: report
Benefits of incorporating ESG factors include lower drawdowns and reduced portfolio volatility, according to JP Morgan Asset Management
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Italian roundup: Fonchim offers five mandates worth €1.75bn
Utilities sector fund Pegaso seeks consultant; Media industry fund tenders mandates for equity and bond managers
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NewsESMA advises against explicit ESG analysis mandate for credit rating agencies
Watchdog says credit rating agencies should stay focused on creditworthiness, but transparency of how they consider ESG factors could be improved to help investors
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GAM completes wind-up of suspended absolute return bond funds
Investors due to receive equivalent to an “average” of 100.5% of portfolio value after a 10-month process to liquidate the CHF7.3bn fund range
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Chart of the Week: Which country’s pension funds invest the most domestically?
Mercer’s European Asset Allocation report reveals the countries whose pension funds have the largest allocations to domestic equity, corporate bonds, and government bonds
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FeaturesFixed income, rates, currencies: Nervousness abounds
The weak US non-farm payroll (NFP) data for May, far below forecasts, sent rates falling and stocks rising, on the supposition that it raised the likelihood of interest rate cuts from the Federal Reserve. On the other hand, while risk markets cheered the prospect of easier money, the hardline approach taken by the US towards China, and China’s uncompromising responses are raising investor nervousness.
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Special ReportInvestment services: Accessing China's bond market
Access to China’s fixed-income market is cheaper and easier than ever
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AXA IM calls for ‘transition bonds’ to help companies go green
New type of debt could help investors overcome challenge of financing companies aiming to become more environmentally-friendly
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Italy roundup: Allianz GI wins €220m mandate from Fondo Telemaco
Tenders announced by a number of other pension funds including Fondo Pensione Nazionale BCC/CRA, Fondo Crédit Agricole, and Fondo Cometa
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FeaturesIPE Quest Expectations Indicator: June 2019
Last months’ move away from political risk continued this month for the US, the EU and Japan. The UK figures were stable or moving slightly in the opposite direction, reflecting worries over Brexit with the UK body politic in disarray.
