In Depth – Page 37
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Features
Equity Earnings: Burning the furniture
Many companies with strong balance sheets are using that position to bolster weak income statements
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Features
Alternative Credit: Portfolio role for alternative credit
Alternative credit provides a breadth of diversity that can help investors create better risk-adjusted portfolios for outperformance in a tough market, writes Nimisha Srivastava
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Features
Asset Allocation: Ahead of the Curve - Sales drive private-equity alpha
A recent study of 450 realised private-equity deals finds that sales growth is a key component for alpha generation, according to Ian Roberts
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Features
African Private Equity: The bright continent
Carolyn Campbell describes how Africa’s expanding middle class, rising GDP and government policies are fuelling opportunities for private equity
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Interviews
Strategically speaking: Pictet Asset Management - Starting from scratch
As in other walks of life, things go in and out of fashion in institutional investment. Multi-asset investing is a case in point. Once, a few balanced managers held centre stage in pension fund management in countries like the UK, the Netherlands and Switzerland. Then, in the 1990s and early 2000s, the orthodoxy was for manager diversification using segregated mandates or multi-manager approaches. Faith in the equity market premium was high, as was the thesis espoused by Gary Brinson that asset allocation is the primary driver of portfolio returns, ahead of market timing or stock selection.
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Features
High-Yield Bonds: Uncharted waters
Is the sell-off in high-yield bonds an indicator of broader weakness, or an opportunity for contrarians to pick up yield?
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Features
Assessing AIFMD
Kai Braun considers the Alternative Investment Fund Managers Directive (AIFMD) and finds that operating models have stabilised
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Features
Ahead of the Curve: ASEAN - the next emerging economy?
Andrew Graham asks whether the ambitious integration plan of the Association of Southeast Asian Nations will unlock the region’s potential, or whether the complexity of the task will overwhelm any chance of success
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Interviews
Strategically speaking: Principal Global Investors - A glimpse into the future
At least no-one dies as a result of what the investment management industry does or does not do. Unlike technological companies considering drone pizza deliveries or driverless cars, and where real issues of safety and liability may arise, asset management executives only have a set of financial outcomes to consider.
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Features
Demographics: Global Growth - Doldrums ahead
Niels Jensen argues that an ageing population and lower productivity are the biggest threats to global economic growth
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Features
Ahead of the Curve: Brands and the city
Doreen Wang says financial analysts should give a company’s brand a bigger line item in investment valuations
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Features
US Illiquid Credit: Bankers by default
Structural changes in banking, regulation and low interest rates are transforming the illiquid loans market
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Interviews
Strategically speaking: Amundi
Perhaps one of the greatest lessons of the 2007-08 period for institutional investors was about liquidity. Equity markets dropped precipitously and credit spreads widened, while liquidity in safe-haven assets dried up and other instruments became impossible to trade
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Features
Smart beta bonds: Not so fast
Carlo Svaluto Moreolo looks at the reasons behind the dearth of smart beta fixed-income products
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Features
Ahead of the Curve: Japan’s best is yet to come
A genuine change in corporate governance culture at Japanese companies will underpin good economic fundamentals
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Features
Briefing: Growing importance of the renminbi
Despite recent volatility, the Chinese currency’s role in international trade is growing fast
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Interviews
Strategically speaking: Terra Firma Capital Partners
“The private equity industry is in the midst of a far-reaching structural change that is leading to a bifurcation of the industry,” says Guy Hands, chairman and chief investment officer of Terra Firma
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Features
China Briefing: Foreigners eye Chinese shares
Access to China A-shares, one of the largest equity markets, is becoming easier for overseas investors
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Features
Trade Finance Briefing: Doors open to trade
Greater liquidity and capital constraints have forced many banks to scale back or close down their trade finance operations, creating opportunities for non-bank lenders, says Luigi La Ferla
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Features
Investment Solutions Survey: A wide constellation
IPE’s 2015 investment solutions survey explained
