All articles by Lynn Strongin Dodds
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FeaturesAn inflection point for India bonds
The impending inclusion of Indian government bonds (IGBs) in JP Morgan’s widely tracked $240bn (€220bn) Govern ment Bond Index-Emerging Markets (GBI-EM) index is seen as a milestone. However, while some asset managers hope it is the beginning of a more open investment culture, others are more circumspect.
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Asset Class ReportsPrivate lending shows signs of recovery
Private credit is showing signs of recovery, but investors are focusing on defensive sectors
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FeaturesA bumper year for convertible bond issuance
The convertible bond market ended 2023 on a strong note with its main index – the Refinitiv Global Focus – returning 6% in the fourth quarter. The optimism has continued into 2024 on the back of reasonable valuations, historically low equity volatility and better opportunites.
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Asset Class ReportsEquities portfolio strategy: Cautious optimism as hard landing fails to materialise in 2023
A shaky European economy will work in favour of quality companies when it comes to stock selection
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Asset Class ReportsInvestors put weight behind bond markets
Exposure to bonds is rising at the fastest rate since the financial crisis, as investors focus on high-quality paper and the shorter end of the yield curve
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Asset Class ReportsJapanese stock market finally lives up to expectations
Stocks rally, helped by rising inflation and corporate governance reforms
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Asset Class ReportsRefinancings: private equity out in the cold
Activity has been disappointing due to macroeconomic headwinds and geopolitical tensions
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Asset Class ReportsEmerging market corporates struggle to sway bond investors
There are mixed views about the prospects for emerging corporate debt, despite the sound fundamentals
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Asset Class ReportsLocal currency emerging market bonds are back in the spotlight
Partly thanks to the weakening of the US dollar, local currency emerging market sovereigns are now offering healthy yields, and should continue to perform well
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Special ReportActive ETFs power ahead
While active managers are out of favour, their strategies embedded in an exchange traded fund package are gaining traction. In fact, they are outpacing passive ETFs as investors look for liquidity and robust risk-adjusted returns with a relatively low price tag.
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FeaturesOpen-ended investment funds face up to the shadow banking dragnet
The debate over the systemic risk of non-bank financial institutions (NBFIs) – sometimes called shadow banks – is a recurrent theme but it has recently moved to the forefront thanks to tighter monetary policies, geopolitical risks and factors such as the UK’s LDI crisis. While regulators are assessing the threats posed, most market participants believe changes will not happen for years. For some, there are fears that largely unleveraged segments like open-ended investment funds could be unfairly targeted
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FeaturesFX in waiting mode after lively 2022
After a long period of muted volatility, currency markets sprang back into action in 2022 as geopolitical risk and diverging monetary policy came to the fore. This year it is quieter, but markets remain rattled over the unpredictable interest rate scenarios. As a result, many market participants are waiting for a sharper picture to emerge.
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FeaturesESG comes to money market funds
Environmental, social and governance (ESG) investing has permeated every corner of the asset management universe, and money market funds (MMFs) are no exception. European funds are under much greater scrutiny than their US and UK peers thanks to the Sustainable Finance Disclosure Regulation (SFDR), which came into effect two years ago. The result is that many MMFs are busy changing their classification to meet the higher standards.
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Asset Class ReportsFixed income – A year for selectivity in high yield and loans
Patience might prove the be the watchword for the rest of 2023 in high yield
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Asset Class ReportsFixed income – Convertible bonds return to favour
After a long period in the wilderness, convertible bond issuance is coming back to life
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Asset Class ReportsEmerging market equities – Slow progress on corporate governance
Equity investors see improvements in corporate governance in emerging markets, but alignment between shareholders, management and owners remains critical
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Asset Class ReportsPrivate debt: Sustainable lending set for comeback
Issuance of sustainability-linked paper took a hit in 2022, but managers are now introducing ESG KPIs to incentivise borrowers
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Asset Class Reports
Private debt: European markets try to power ahead
Private debt in Europe is still feeling the impact of the war in Ukraine and the surge in inflation, but there are reasons for optimism
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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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Asset Class ReportsEquities – Factor investment strategies return to favour
After a few years of poor returns from factor investing, investors are again showing interest – but with more realistic expectations
