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Impact Investing

IPE special report May 2018

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Hard times for bond funds

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This quarter’s IPE/Lipper table of funds for institutional investors shows that, following the general trend, bond funds have had a more difficult time than equity funds during the last three months since fewer fixed income managers have come through the benchmarking process compared to the previous quarter’s results published in December last year.
The tables represent those funds that are among the top 40% performing funds, which have beaten the different benchmark assigned to each of the investment classes covered – more than 50% of the time over a three-year period.
But European bond funds have done better this time than in the last survey when no funds managed to beat the benchmark.
The number of funds represented in the global bonds table have shrunk from 24 to 11.
US bond funds continue to have difficulty in meeting the criteria, so we are not running a table on this category.
The good returns from technology funds are reflected in the global equity table where we can see a strong showing by funds investing in this sector. Of particular interest is the absence of funds investing in health or pharmaceutical sectors. The number of funds present in the emerging market equity table has increased from seven to 12, with two new funds from Vontobel and ACMGI. The Asia (ex Japan) equity table has seen the number of entries reduced by almost 50%. Paula Garrido

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  • QN-2436

    Asset class: Real Estate - Core Open-ended Real Estate Equity Fund (non-listed).
    Asset region: Asia Pacific.
    Size: Approx. CHF 70-100m per investment.
    Closing date: 2018-05-25.

  • QN-2438

    Asset class: High Yield Bonds.
    Asset region: US.
    Size: USD 300 million.
    Closing date: 2018-05-25.

  • RE-2441

    Closing date: 2018-05-31.

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