Fixed Income – Page 54
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News
Germany's BVV increases real assets, braces for more regulatory hurdles
Largest German Pensionskasse seeks steady returns from infrastructure, real estate
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NewsSwiss pension funds put on brave face over negative interest rates
Industry representatives confident pension system will adapt to low-interest-rate environment
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NewsLGPS funds could consider legal action over mandatory passive shift
South Yorkshire fund weighs becoming collective vehicle for other LGPS funds should new UK government choose shift to passive investment
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News
Swiss funds troubled by impact of negative 10-year bond yields
Swiss 10-year government bond yield positive if inflation forecast remains true
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NewsSwedish roundup: Kåpan, Kyrkans Pensionskassa
Pension fund for the Swedish Church sees returns hit nearly 20%, after returns of 4.4% in 2013
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News
Credit risk premium ‘underestimated’ due to duration fault, says AQR [updated]
Eerroneous matching of duration between risk-free sovereign bonds and corporate bonds led to underestimation of pure credit risk-premia
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News
Mandate roundup: Dorset County, Wiltshire Pension Fund, Loomis Sayles
Dorset pension fund targets two managers for £480m in global active, smart-beta equity strategies
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Special Report
Convertible bonds: key lessons from 150 years of issuance
Beat Thoma outlines some of the key lessons from 150 years of convertible bond issuance
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Features
Asset Allocation: The big picture
As the US economy continues to recover, the hour when the Fed starts to tighten is approaching
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Special Report
Convertible bond valuations remain attractive
Subdued volatility has taken the options within convertible bonds down to very attractive valuations
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Special Report
Investors warm up to bank contingent convertible bonds
Investors have grown in confidence with bank contingent convertible bonds as their confidence in bank stability has risen
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Asset Class Reports
High Yield: Oil, banks and rates
Martin Steward finds the diversity of high yield reflected in three very different kinds of risk run behind similar-looking headline exposures
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Special Report
Convertible bond performance: Best of both worlds
The hybrid characteristics of convertible securities provide strategic benefits through economic cycles
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Special Report
'CoCos': bondholder's friends or foes?
There are complexities associated with banks’ contingent convertibles, or ’CoCos’, but this, combined with a more resilient, less systemically-linked industry, is a source of value
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Features
Corporate bonds for the long run
The post-crisis world of bond investing is favouring the ‘new’ old-fashioned approach known as buy-and-maintain credit
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Special Report
GDP-linked sovereign bonds: Would investors buy them?
Some emerging markets have experimented with GDP-linked sovereign borrowing, and the Greek finance minister is the latest to discuss the idea. We ask whether investors would buy it
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Special Report
Convertibles and Solvency II: Commentary
Nicolas Delrue argues that mixing convertible bonds with equities preserves equity upside exposure with lower downside risk
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Special Report
Convertibles and Solvency II: Preaching to the unconverted
Joseph Mariathasan asks whether convertible bonds might offer Solvency II-regulated investors some equity upside with a limited capital charge
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Special ReportHybrid Securities: Financial duck-rabbits
Recently someone from the Outer Hebrides posted online a photo of a dress, the colour of which had apparently caused endless debate among family and friends
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Asset Class Reports
High Yield: US issuers, euro spreads
A substantial spread differential is attracting US investment-grade issuers across the ocean to issue bonds in euros
