Fixed Income – Page 8
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NewsBVV invests €2.5bn in high investment grade bonds to strengthen portfolio
While its allocation to illiquid investments remained unchanged in 2023, the fund’s exposure to equities was cut
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NewsBavaria’s civil servants scheme starts to buy short-term bonds
The scheme returned 11.2% last year, with assets under management reaching €4bn
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FeaturesMarket predicts US soft landing - June 2024
A combination of Federal Reserve chair Jerome Powell’s press conference and a slightly weaker-than-expected US April non-farm payrolls outcome succeeded in flipping the market back to a soft-landing narrative for the US economy. US Treasury bonds rallied sharply, taking other markets with them, while the yen weakened significantly against the dollar before recovering.
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NewsSwiss schemes turn to corporate bonds as currency hedging costs rise
Currency hedging costs in the bond markets US and EU government bonds less attractive for the pension funds, says Complementa
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NewsPKBS cuts insurance-linked securities for fixed income, domestic property
teh scheme’s ILS active portfolio posted returns of -4.98% last year
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NewsGermany’s BVK redefines macro allocations in new investment strategy
As part of its its strategic asset allocation, the fund plans to invest in timber looking at ‘evergreen structures’
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Asset Class ReportsThe quest for innovation in sustainable fixed income
Japan’s climate transition bond is the latest in a string of innovative developments in sustainable fixed income
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Asset Class ReportsFixed income: European high yield stands its ground
Investors flocked to the European junk bond market last year and despite a strong US economy, there is still appetite for European issuers
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FeaturesUS economy continues to surprise
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.
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Asset Class ReportsClosing the data gap in green, social and sustainability-linked bonds
Luxembourg’s bourse has capitalised on its experience as a green bond hub
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Asset Class ReportsGreen bonds reach escape velocity
The green bond market looks set to grow further, despite pressure from many sides and key questions over their function
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InterviewsMerseyside pension fund dials down domestic bias
Scheme’s strategic ambition is to move closer to the MSCI World index weightings
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Opinion PiecesBond markets look set to become the new stewardship powerbroking arena
Investors in bond markets are starting to assume a more powerful position than equity investors to influence companies and countries. Innovation is sweeping through bond markets with the introduction of specific ‘use of proceeds’ bonds and sustainability-linked bonds.
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FeaturesIPE Quest Expectations Indicator - May 2024
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.
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NewsEnel KPI miss ‘a watershed moment’ for sustainability-linked bond market
Price reaction was swift, with the affected SLBs outperforming unaffected Enel instruments by 0.59% on average
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NewsCassa Forense seeks asset managers for investment vehicles worth €4bn
The lawyers scheme is creating the two vehicles to streamline investments and administration of its assets
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NewsAlecta, APK back $436m Amundi-IFC impact-oriented EM bond fund
Public-private partnership aims to encourage issuance of green, social and sustainability-linked bonds in emerging markets
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NewsPublica sets up bespoke ESG benchmarks for EM government bonds
It worked with 17 asset managers on guidelines intended to increase transparency on ESG for investments in corporate loans, infrastructure, and real estate mortgages
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FeaturesReluctance to drop interest rates disappoints the markets
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.
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Opinion PiecesATP at 60: no plans to retire the guaranteed pensions model
Now approaching retirement age itself, Danish statutory pension fund ATP is using its 60th birthday as an opportunity to reinforce the validity of its guarantee-based investment model.
