All articles by Joseph Mariathasan. – Page 3
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Asset Class Reports
Sovereign Bonds: Old certainties crumble
Politics, not economic fundamentals, will determine the future of the developed world’s bond markets. Joseph Mariathasan finds this causing fixed income managers untold headaches
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Asset Class Reports
Emerging Market Debt: Ugly duckling no more
Emerging market debt is a fast-maturing asset class that is converging with the global bond universe. But Joseph Mariathasan finds managers struggling to break out of top-down country-risk constraints
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Asset Class Reports
Structured Credit: Alphabet soup: a second helping
Joseph Mariathasan takes a look at the structured credit and loans markets and finds a surprising abundance of reasons to tuck back into the alphabet soup, even after significant spread-tightening
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Special Report
Credit: Anatomy of a crisis
Joseph Mariathasan takes us on a tour of the crash and recovery, asks where bond investors should be looking next – and reminds us that credit is never, ever, a free lunch
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Asset Class Reports
US Equities: Concentration on quality
High quality franchises with a global outlook can deliver returns well ahead of the US market, finds Joseph Mariathasan. But it can be a bumpy ride
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Asset Class Reports
US Equities: 20 heads are better than one
Joseph Mariathasan takes a look at Neuberger Berman’s Flexible All Cap US Equity strategy
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Asset Class Reports
Private Equity: Keep a clear head
Growth in earnings rather than gearing will be the key to future private equity success, finds Joseph Mariathasan. But where to find it when the developed world expects economic growth to remain depressed?
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Asset Class Reports
Credit: A topsy-turvy world
The financial crisis has re-arranged the contours of credit risk, writes Joseph Mariathasan. Deciding what represents low risk is the greatest challenge
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Asset Class Reports
Credit: Different dimensions of style
Joseph Mariathasan reports on a new set of indices that add a defensive/dynamic dimension alongside market cap and value/growth
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Special Report
Risk Parity: Nice idea, awkward reality
The tweaking and adjustments managers force upon ‘risk parity’ strategies betray the risks at the heart of the concept, writes Joseph Mariathasan
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Asset Class Reports
European Equities: A heterogeneous marketplace
Top-performing European equity portfolios are both concentrated and very diverse in outlook and composition, finds Joseph Mariathasan
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Asset Class Reports
European Equities: UK equities: The Liontrust approach
The UK equity market is still distinct from that of continental Europe because of factors such as its size, the large number of multi-nationals and mid-sized companies with global presence, and a still large domestic institutional investor base in the form of pension funds with relatively high domestic equity exposures.
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Asset Class ReportsEmerging Market Equities: Emerging questions
The days of a simple emerging market allocation are over. Correspondingly, JosephMariathasan finds a variety of approaches among the top performing managers
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Special Report
PE hits CEE heights
Europe’s biggest LBO of 2009 was a CEE deal, reports Joseph Mariathasan. But it is difficult to see the region becoming a core emerging market private equity market like Asia
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Asset Class ReportsHedge Funds: Rehabilitated
Since assets under management crashed during the financial crisis the hedge fund industry has experienced a phoenix-like revival in fortunes. But Joseph Mariathasan finds that it is far from back to business as usual
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Interviews
The lion that’s finding its courage
The nightmare for any fund management firm is losing key managers whose clients follow them out of the door. It can tear apart a firm’s credibility, leading to further fund outflows and a further loss of credibility – a ‘death spiral’ that can demolish once mighty firms.
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Asset Class Reports
Global Equities: Breaking the constraints
Joseph Mariathasan finds that while modern portfolio theory and orthodox strategies can serve investors and fund managers well, there can be greater rewards for those willing to step away from convention
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Asset Class Reports
Sovereign Bonds: Calling in the plumbers
Joseph Mariathasan takes a look at proposals to unblock the pipes of Europe’s repo market
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Asset Class ReportsSovereign Bonds: Macro madness
Emerging market strength versus developed market weakness, European core versus periphery, inflation versus deflation – Joseph Mariathasan finds a market rapidly rediscovering its complexity
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Asset Class ReportsEmerging Market Debt: Localising, globalising
Joseph Mariathasan finds that fast developing emerging debt markets present opportunities for risk-taking and challenges for benchmarking and performance measurement
