Investment – Page 9
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FeaturesStrategically speaking interview: Redwheel’s new CEO
Last August, RWC Partner’s chief executive Dan Mannix left the company, and the head of business development, Tord Stallvik took over. Soon afterwards, the company rebranded as Redwheel – RWC was an acronym for Red Wheel Capital.
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FeaturesUkraine & Russia: Asset allocation and investing in a time of war
It is a well-known fact that geopolitical events have no lasting impact on financial markets. However, Russian president Vladimir Putin’s decision to wage war on Ukraine has forced institutional investors to reassess their strategies. While stock market indices tend to recover fairly soon after the initial shock of a geopolitical event, the conflict between Russia and Ukraine has potentially wide-ranging consequences beyond a sudden spike in volatility.
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Features
The case for an EU consolidated tape
Liquidity. Equality. Fragility. With apologies to the French Republic, these three words almost act as a lodestone in discussions about a consolidated tape (CT) for EU securities. The need for such a tape is becoming more apparent than ever, but it could still be three years or so before it become a reality, according to Susan Yavari, regulatory policy adviser at the European Fund and Asset Management Association (EFAMA) and the author of a detailed official position paper on the subject published in mid-February.
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FeaturesAhead of the curve: The future looks bright for African private equity
The Russian-Ukrainian war and its related global impact may have a mixed effect on economic recovery in Africa, which is being driven by worldwide economic trends such as elevated commodity prices, a relaxation of lockdowns, and increased global trade. With further increases in commodity prices having a positive impact, increased inflation and further possible roll-backs in globalisation weigh on the recovery.
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Features
Qontigo Riskwatch: April 2022
* Data as of 28 February 2022. Forecast risk estimate for each index measured by the respective US, World and Emerging Markets Qontigo model variants
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Features
IPE Quest Expectations Indicator commentary April 2022
With a threat of nuclear war looming, Russia increasingly looking exhausted and desperate but unwilling to make concessions and a Russian default threatening, the world is again as dangerous as it was during the cold war. A default now cannot be compared with Russia’s de facto default in 1998.
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FeaturesBriefing: High yield off to a rough start to the year
High yield did not have a good start to the year. Rising inflation and a more hawkish central bank tone in the US and UK triggered panic selling in January. However, as the dust settles and bad news is priced in, the asset class looks more appealing than other fixed-income segments. Easy pickings may be gone, though, and opportunities will have to be selected carefully.
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FeaturesBriefing: Now is not the time to give up on emerging markets
“Just when I thought I was out, they pull me back in!” This classic Al Pacino line has applied to many emerging market investors in recent years. Like Michael Corleone, drawn by the potential offered by bold business opportunities, they have accepted to take higher levels of risks in a quest to obtain better results. However, similarly to the family at the heart of The Godfather saga, the outcome of such bets has often caused a lot of pain.
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FeaturesStrategically speaking – WTW: Democratising private markets
WTW’s ill-fated merger with Aon, announced at the outset of the pandemic in early March 2020, would have shaken up the corporate insurance brokerage market. It would also have created an outsourced CIO (OCIO) giant to compete with Mercer in terms of delegated assets under management (AUM).
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FeaturesFixed income, rates, currencies: Inflation spotlight on central banks
Not often far from the action, central banks have been centre stage in 2022 as one after another in the developed markets reveal their hawkish intents. The speed and synchronicity with which they have shifted has been pretty remarkable, with only the Bank of Japan not yet joining other main central banks.
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FeaturesAhead of the curve – Late-stage growth: a growing priority in PE portfolios
With additional options to fund growth outside of an initial public offering (IPO), start-ups are staying private longer. The average age at which venture capital-backed companies go public has increased from about 4.5 years during the 1990s to about 6.5 years today.
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FeaturesQontigo Riskwatch – March 2022
* Data as of 31 January 2022. 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 2022
Political risk is back. Russian aggression towards Ukraine inserts considerable amounts of uncertainty. Asset owners will in general not suffer significant direct consequences for a well-diversified portfolio, but there are potential implications for energy prices that come at a time when inflation was already making a comeback and on top of unexpected military expenditure when budgets are already charged by COVID-19-related outlays
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FeaturesStrategically speaking: Eyes on the next frontier
“Riddle me this,” asks Yves Choueifaty, founder, president and CIO of French asset manager TOBAM. “Why would 70 people who are not TOBAM employees be at our Paris headquarters today?”
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FeaturesFixed income, rates, currencies: COVID starts to lose grip on GDP
COVID’s huge influence on all our lives, whether through disruption of global supply chains or threats of lockdowns in the face of soaring infection rates, was reasonably constant throughout 2021. However, it now appears that GDP numbers have become generally less sensitive to COVID infection rates than they were, say, 18 months ago, with high vaccination rates (certainly across developed markets), and an awareness from politicians that the public’s willingness to comply with lockdowns may be waning fast.
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FeaturesAhead of the curve: The rise of altcoins and potential institutional adoption
It is interesting to sit between traditional investors and the crypto-native communities: one has just started on the Bitcoin adoption curve while the other might already consider Bitcoin to be a ‘boomer coin’.
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