Investment – Page 42
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FeaturesA high-yield lesson from history
Richard Ryan warns investors not to respond to apparently tight spreads in investment-grade bonds by simply stretching for the extra 260 basis points available from high yield
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Features
The case for the investment book of record
It is essential for investment decisions to be based on accurate and complete information, but obtaining that in the form of an investment book of record is easier for some asset managers than others, according to John Mayr
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Features
Is history quietly repeating itself?
With the system already as heavily leveraged as it was in 2007, markets are hanging on every word from Ben Bernanke. Dan James thinks this only adds to the feeling of déjà vu
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Features
If it looks like a duck
Hybrid corporate bonds are taking off as investors scramble for yield. But Martin Steward wonders if the hybdridity balance is shifting against investors
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Features
Rock ‘n’ roll yield
Music publishing rights are a proven inflation-sensitive cash-flow asset, and Martin Steward finds that fast-changing music consumption habits are generating not threats, but opportunities
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Features
Caution in the face of opportunity
Despite the growing clamour for funding, pension funds remain cautious about investing in infrastructure. Michael Wilkins analyses some of the barriers holding back potential investors
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FeaturesUnlocking alpha
New statistical techniques and the computing power to put them to work is opening a space for effective factor modelling of hedge funds, writes Robert J Frey
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Interviews
Of orange blood and quieting storms
It has been a stormy four years at ING Investment Management – but the skies are finally starting to clear.
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Features
The fallacy of CB independence
Central banks are no longer independent of politics, argues Kommer van Trigt, and investors should take that into account
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Features
Stuck in the middle
The mezzanine-debt opportunity has not gone away. But Martin Steward finds that success will probably depend on both greater focus and flexibility
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Features
Choosing the middle way
René Biner offers a 21-year data set that reveals surprising facts about historical loss rates in European mezzanine debt – and the advantages of vintage-year diversification
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Features
Once upon a time in the East
It may not quite be cowboy capitalism, but a showdown is due in China, writes Gary Greenberg
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Interviews
An emerging markets coup
After a burst of acquisitive growth during its years as the investment division of Lehman Brothers, Neuberger Berman’s time as an independent asset manager has instead been spent redefining its brand, building track records and expanding its global reach.
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Features
A tragedy of small decisions
Bob Swarup and Dario Perkins look at the latest developments in the euro-zone crisis and warn that while history doesn’t repeat itself, it does rhyme.
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Features
It’s a war out there
Anthony Harrington finds optimism among active currency managers, and that a top-down discretionary approach might be best-suited to surviving and thriving through the ‘currency wars’
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Features
The business of uncertainty
Lynn Strongin Dodds takes a look at a sector beset by uncertainty over regulations, profitability and dividends
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Features
The EM lending gap
Bank lending to emerging markets is falling sharply – but David Creighton writes that the growth in bond issuance isn’t filling the lending gap
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Interviews
Degrees of freedom
It has been a busy Q1 for Artisan Partners. At the time of writing, the 19-year-old firm was on the brink of its IPO. Aiming to raise almost $330m with which to clear its loans, buy back shares and reward its pre-IPO partners, the event feels like the foundation for the firm’s next stage of growth.
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Features
Britain and Europe
The UK has squandered its fiscal strength relative to the rest of Europe, argues Holger Schmieding – and talk of a ‘Brexit’ will only make things worse
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Features
Yielding results
Ultra-low bond yields and high dividend yields suggest low-risk investors should consider equity income funds. Joseph Mariathasan looks at the options
