All articles by Martin Steward – Page 4
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Special Report
Risk Managed Equities: CAPE crusaders
Barclays has launched three indices based on Robert Shiller’s cyclically-adjusted price-earnings ratio for sectors. Martin Steward met the Yale academic to discuss what they bring to the growing world of ‘smart beta’
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Special Report
Risk Managed Equities: A better mousetrap
A pioneer of the alternative indexing world weighs in with a minimum-variance product. Martin Steward talks to Rob Arnott about his latest innovation
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Asset Class Reports
Global Equities: Three of a kind
Martin Steward finds three managers exploiting three major investment themes in three different ways
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Features
Money doesn’t grow on trees
Every child has heard similar words. You want that delicious-looking cake? A new toy? “Money doesn’t grow on trees!”
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Special Report
Risk Managed Equities: The funding dilemma
With its desire to de-risk and its growing deficit, the Strathclyde Pension Fund is one of many ideal candidates for the risk-managed equities experiment. Martin Steward reports on its plans
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Interviews
Cutting through the noise
“There is almost universal agreement that the world needs long-term investors and, indeed, that short-termism is bad,” says Keith Skeoch, CEO of Standard Life Investments (SLI), addressing a room of European finance journalists at its Edinburgh offices. “And the reason short-termism is perceived as bad is that the charge sheet is long and serious.”
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Interviews
Institutional ambition
It probably wasn’t planned this way, but Four Capital Partners was set up by Derrick Dunne and ex-Schroders UK equities managers Tom Carroll, Ted Williams and Chris Rodgers on the precipice of the financial crisis. Established in 2006, its first UK equities fund was launched in April 2007, on the very day that New Century Financial went Chapter 11.
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Features
On the road again
The convertible bond market finally woke up in September. But Martin Steward finds that there is a long way to go before portfolio managers are out of the woods
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News
Dutch pension provider PGGM considering hedge fund replication
NETHERLANDS – Provider explores idea of adding replication programmes to alternatives portfolio.
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News
Strathclyde tenders £550m fundamental indexation equity mandate
UK – Equity framework agreement open to other Scottish local government pension funds.
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News
Survey finds low-return outlook shaking up investment practice
GLOBAL – Institutional investors worldwide re-thinking investment assumptions, Pyramis says.
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Asset Class Reports
Sovereign Bonds: Would you credit it?
The split between Gilts and non-Gilts could be waiting to define tomorrow’s performance in UK fixed income strategies, finds Martin Steward
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Interviews
Life on planet TOBAM
Quantitative asset managers aren’t particularly noted for prioritising ESG matters.
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Features
Go with the flows
Dividends really do pay off in emerging markets. Martin Steward asks why, and what the theories tell us about how far investors should tilt towards higher yields.
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Features
The Draghi put is no turning point for the euro
As I write on 13 September, it’s been a good week for europhiles. On 6 September,Mario Draghi unveiled the ECB’s plan for Outright Monetary Transactions (OMT). The German Constitutional Court ratified the European Stability Mechanism (ESM) on 12 September. And the Dutch electorate favoured two pro-euro parties.
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Asset Class Reports
Sovereign Bonds: Competing premia
Martin Steward finds portfolio managers agreeing on the need to find some spread. But where – in corporate bonds, or peripheral sovereigns?
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Asset Class Reports
Sovereign Bonds: Curve balls from credit markets
The temptation to look beyond sovereigns for yield is understandable. But Martin Steward finds that the obvious move into top-quality corporates may not be the way to do it
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News
Pension funds should 'beware' calls to boost domestic investment
EUROPE – Experts at AGI event say diversification best antidote to financial repression.
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News
Latin lessons in sovereign default
Emerging market debt managers are truly brave souls, says Martin Steward.
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Features
Who turned out the lights?
Dark liquidity, which started as a way to hide big trades,now mostly offers liquidity in bitty, small packages. But Martin Steward finds signs that the pendulum is swinging back again