All articles by Martin Steward – Page 5
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Features
Latin lessons in sovereign default
Emerging market debt managers are brave souls. Take Thomas Brund of Sydinvest, one of the managers featured in this month’s strategy review, who deliberately bought the Ivory Coast before it defaulted. “We were happy to take that default to make sure that we were well-positioned for the upside,” he explains.
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Asset Class Reports
Emerging Market Debt: Sorting though the ‘stuff’
In an asset class dominated by top-down commentary, Martin Steward finds bottom-up alpha defining performance
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Asset Class Reports
Emerging Market Debt: Beyond Brazil
Martin Steward talks with Jorge Unda of BBVA Asset Management, who warns that Latin America’s biggest economy is heading in the wrong direction if it wants to keep up with its more successful neighbours
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Interviews
Holding hedge funds to account
Bond yields sit at historic lows, growth is sparse and equities aren’t cheap. The result: a search for yield in credit assets and for alpha in liquid alternative investments.
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NewsAIMA blasts hedge fund 'mirage' book for litany of factual errors
EUROPE – Most sensational claims 'not backed up by any figures', chief executive says.
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NewsThe great pension fees debate: No need to sensationalise
The fees debate is too important to be sensationalised, says Martin Steward.
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NewsMartin Steward: Have bond markets become myopic?
China's economic slowdown and the shale gas revolution could shift our entire macro framework.
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Asset Class Reports
Structured Credit & Loans: It’s a good cop-bad cop thing
Martin Steward speaks with David Creighton of Cordiant Capital on structuring emerging market loans alongside the world’s major development banks
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Special Report
Commodities: All hail the shale
The US natural gas revolution is not just an arcane energy issue. Martin Steward considers its potential to reverberate throughout the entire economy – and your portfolio
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Interviews
Practising what it preaches
As one of the world’s leading mezzanine and credit managers, Intermediate Capital Group spends every waking hour analysing, interrogating – and worrying over – the way companies manage their balance sheets. So it should come as no surprise that the firm is pretty handy at managing its own.
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Special Report
Commodities: Puffed-out dragon?
China’s slowing economy – and its longer-term transition away from investment-led growth – is raising questions about ongoing demand for commodities. But Martin Steward suggests that it’s too early to call time on the ‘supercycle’
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Features
Have bond markets become myopic?
In this month’s commodities report we address two phenomena – the slowdown and transition of China’s economy, and the US shale gas revolution – that could profoundly change our entire macroeconomic framework.
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NewsHedge funds not big herders, says academic study
Hedge funds do enter crowded trades, but 'nothing like as much as non-hedge fund institutions'.
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NewsThose who pushed euro should pay, says ING IM strategy head
EUROPE – Markets could rally this summer with 'a lot of bad news already priced-in'.
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NewsHalf of investors think private equity gets 'bad rap'
Coller survey reveals concerns over image, emergence of two-tier investor community.
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NewsAXA Private Equity raises record $7.1bn in secondaries
Huge haul reflects tactical opportunity, evolution of private equity market.
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NewsAsset managers could charge significant fees when buying bank loan books - Moody's
Ratings agency highlights attractiveness of loans for asset managers as banks deleverage.
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Special Report
Risk Parity: ‘Risk parity is not sufficient’
Martin Steward discusses the philosophy behind the risk-factor allocation approach adopted by Danish pension fund ATP with CIO Henrik Gade Jepsen – and the impact of a new risk environment on its strategy
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Asset Class Reports
US Equities: Still value to be found on upside
Martin Steward finds some surprising potential for growth at the heart of generally defensive portfolios
