Fixed Income – Page 30
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Special ReportFocus on Fixed Income: Do fixed income ETFs distort the market?
In this article, which is an excerpt from a recent State Street Global Advisors publication, we address one of the key misconceptions about fixed income (bond) ETFs – namely, that they have become so large that they are distorting the underlying bond market. Instead, we argue, despite their recent growth, fixed income ETFs represent a relatively small proportion of the world’s debt markets.
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Special ReportFocus on Fixed Income: The rise and rise of fixed income ETFs
When ETFs first broke up the active management party in the fallout of the financial crisis, it was equity funds that bore the brunt of the impact.
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Special ReportFocus on Fixed Income: ETFs: the natural home for fixed income
In recent years, fixed income ETFs have been grabbing a larger slice of the ETF market as investors look to capitalise on the enhanced diversification, tradeability, price transparency and liquidity they can provide to bond portfolios. According to the latest research by Citi Business Advisory Services, fixed income ETF assets have increased at a robust 25% annual compound growth rate over the last decade, hitting more than $870bn by the end of 2018.
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NewsInvestors welcome new corporate green debt structure
APG and MP Pension positive on Enel’s general purpose bond with higher coupon on offer if environmental targets missed
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Use bond markets to challenge heavy emitters, says NBIM founder Kjaer
New bond issues like regular IPOs, provide an opportunity for scrutiny
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AP2 puts China asset managers under close human rights scrutiny
Swedish pension fund claims pioneer status with first report on its work on human rights
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FeaturesEverything is still possible
Markets are on edge as a result of difficult economic and geopolitical forces. Risks are still skewed to the downside. Trade tensions have not abated, rather there is a possibility of further escalation in the future, which looks like reducing investment, and damaging already apprehensive outlooks.
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News
UK roundup: LGPS pool names managers for £2bn sterling credit fund
Plus: Master trust The People’s Pension is allocating to an ‘adaptive cap’ equity index managed by SSGA
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NewsUS supra-national seeks fixed income options via IPE Quest
The multi-sector mandate should be global and actively managed, and will be housed in a segregated mandate
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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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News
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
