Investment – Page 10
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InterviewsBain Capital: Vintage private equity
“In our world, it is quite easy to describe what we do, but it is very hard to do it,” says Robin Marshall, partner at Bain Capital. That statement encapsulates the concept of private equity and is also an effective introduction to his firm. Private equity may be a straightforward idea, but in reality it is an incredibly complex undertaking, which is why the asset class remains a non-core allocation within institutional portfolios.
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FeaturesAhead of the curve: The missing elements in the digital currencies debate
The recent contraction of the cryptocurrency markets poses questions about the viability of digital currency as an asset class for institutional investors. However, these developments have not undermined the efforts of central banks to pursue their own digital currency initiatives.
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FeaturesQontigo Riskwatch – March 2023
*Data as of 31 January 2023. Forecast risk estimate for each index measured by the respective US, World and Emerging Markets Qontigo model variants
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FeaturesIPE Quest Expectations Indicator March 2023
The next Ukrainian offensive will be in April at the earliest, as modern tanks will have arrived by then. US Republican pushback of ESG and climate-related investments are a new bone of contention in relations with the EU, already strained by the Trump presidency, and a bad sign for US-EU co-operation on China policy, an issue Japan seems to be ducking successfully. Aided by a soft winter, EU energy concerns have become quite manageable.
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FeaturesHigh yield bonds: do your homework
Last year, European bond markets were struck by a toxic a combination of geopolitical, economic and market tensions. The picture has improved with the dawning of 2023, although the markets will continue to experience bouts of volatility and uncertainty will persist. High yield is back on the agenda, but selectivity and careful analysis will be key in identifying the right opportunities.
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FeaturesDid smart beta go ‘horribly wrong’?
In 2016, we published a paper titled ‘How can ‘smart beta’ go horribly wrong?’, the first in a series on the future of factor investing and other forms of so-called smart beta. Did smart beta go horribly wrong? Yes and no.
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InterviewsImpax rides the sustainability wave
One investment analyst sums up Impax Asset Management as a “pure sustainability play”. And certainly, according to founder and CEO Ian Simm, the core thesis of Impax is to “make the most of the investment opportunities offered by the transition to a more sustainable economy”. These are “on the scale of the Industrial Revolution”, Simm believes.
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FeaturesAhead of the curve: Time to automate collateral management
The resilience of financial markets has been tested several times in recent years, from the so-called ‘dash for cash’ at the start of the coronavirus pandemic in March 2020 to the spike in UK Gilt yields in September 2022.
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FeaturesIPE Quest Expectations Indicator: February 2023
Russian attacks against Ukrainian civilians are hampered by efficient air defence. With weapons for the Ukrainian military on the way, a new offensive seems imminent. US President Joe Biden’s troubles over classified documents are a relief for Republicans. The threat of a US-EU trade conflict over China is growing as both sides retreat into nationalistic behaviour. In the UK, Conservatives are under threat of predicted historic losses, while Prime Minister Rishi Sunak so far has done nothing to repair relations with the EU.
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FeaturesQontigo Riskwatch - February 2023
*Data as of 30 December 2022. Forecast risk estimate for each index measured by the respective US, World and Emerging Markets Qontigo model variants
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FeaturesEuropean Commission announcement brings some clarity to derivatives clearing
Many unanswered questions linger after the departure of the United Kingdom from the European Union. However, a recent announcement by the European Commission (EC) promises to bring some much-needed clarity to the derivatives market.
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FeaturesESG: Germany’s energy options
The country’s reliance on Russian gas means its change of energy sources will carry a larger environmental cost
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InterviewsNewton’s Euan Munro: Seeking the best of both worlds
Euan Munro has built a formidable reputation in asset management, developing a major multi-asset absolute return strategy at Standard Life Asset Management in the 2000s. But the fortunes of his once mighty Global Absolute Return Strategy (GARS), now managed by Abrdn, have wavered as multi-asset strategies have fallen out of favour.
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FeaturesAhead of the curve: Is small cap the next mean reversion trade?
By now, most investors have noticed a rebound in value relative to growth in equity markets. After underperforming growth over the past decade, value stocks are experiencing strong mean reversion and outperforming significantly.
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FeaturesIPE Quest Expectations Indicator - January 2023
Better air defence and the ground freezing over are steadily improving the outlook for Ukraine’s forces, now locked in stalemate. A series of blunders haunts US Republicans in general and Trump in particular. If Biden’s stimulus package is enacted, it will counteract Fed policy, possibly prolonging the series of interest rate increases. The EU seems to have bought too much gas. It has agreed to take border measures against some products from climate change laggard countries.
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FeaturesQontigo Riskwatch - January 2023
*Data as of 30 November 2022. Forecast risk estimate for each index measured by the respective US, World and Emerging Markets Qontigo model variants
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InterviewsMirova’s Philippe Zaouati: realistically optimistic
Asset management CEOs tend to be a clever bunch, but there cannot be many who are familiar with the work of Antonio Gramsci, the 20th century Italian socialist philosopher.
