All articles by Martin Steward – Page 7
-
Asset Class Reports
Credit: Balancing out the banks
Martin Steward finds corporate bond managers tip-toeing carefully around banks’ capital structures to limit their underweights – and ramping up other sources of risk to compensate
-
Features
Is capital undervalued and equity a ‘stranded asset’?
Adam Smith reckoned that division of labour in a pin factory boosted productivity 4,800-fold: in manufacturing, division of labour led to a collapse in the cost of labour. Similarly, diversity in the intermediation of capital in equity markets – between high and low-frequency traders and investors with various time horizons – should reduce the cost of capital.
-
Special Report
Boutique Asset Managers: Boutique snapshots
From the expense of building vital infrastructure, through choosing the right institutional partners, to reconciling the freedom to run high-conviction strategies with the challenge of selling them to suitable investors. Martin Steward speaks to a range of European asset managers about the boutique experience
-
News
Investor Working Party issues recommendations on stewardship [updated]
Group includes Aviva Investors, BlackRock, Governance for Owners, RPMI Railpen, Ram Trust and USS.
-
News
The euro-zone crisis: The more you struggle …
Remember Chinese finger traps from childhood? Europe is full of them, says Martin Steward.
-
News
IPE magazine: Special report on Europe's pension consultants
Look after the short term to survive for the long term, consultants say.
-
News
Leverage longevity by 'turning savers into investors', says BlackRock's Fink
CEO calls on society to look through current uncertainties and 'put cash to work' in economy.
-
Asset Class Reports
European Equities: Staying in style
Surprisingly, Martin Steward finds that it was just about possible for pan-European contrarian value to hang in there during 2011’s quality-growth world
-
Asset Class Reports
European Equities: ‘You can’t handle the truth’
Martin Steward considers a contrarian strategy that is not afraid to go neutral when the market is not in contrarian mood
-
Features
The more you struggle…
Remember Chinese finger traps? Those childhood toys that hold your fingertipsever more tightly the more you struggle to pull them free? Europe is full of them.
-
Features
One year later
The Tohoku earthquake of March 2011 was one of the most devastating natural disasters of recent times. Martin Steward asks if it has changed the way investors look at their Japanese equity portfolios
-
Asset Class Reports
European Equities: The middle way
Successful risk-taking in European equities during 2011 was more nuanced than it first appears, finds Martin Steward
-
Asset Class Reports
European Equities: Two different routes to risk
How should you be positioned at the inflection point of one of the strangest economic cycles in history? Martin Steward finds the consistent performers rotating into pro-cyclical stocks in both top-down and bottom-up strategies
-
Features
Do hedge funds delay reporting to save face?
It is well known that databases of historical hedge fund returns suffer from a range of biases – chiefly ‘survivor bias’. The worst funds cease reporting their results, sometimes simply because they go out of business, and some of the best stop reporting when they no longer need to raise assets.
-
News
Pioneer targets 'organic' growth, Asia in new five-year plan
Company unveils first plan since possible sale of business came to nothing last year.
-
News
Al Gore outlines key actions for 'sustainable capitalism'
Says capitalism 'superior' to other systems, but laments trend towards 'short-termism'.
-
News
Supply-demand imbalance to weigh on US yields, says BlackRock's Rieder
Asset manager's CIO expects five-year Treasury yields to remain below 1% for "a very long time".
-
Special Report
Equity Sectors: Sector success
Neptune Investment Management manages £6.5bn (€7.9bn) in almost 30 different equity strategies, pursuing a sector-driven philosophy. Martin Steward discussed the process with Douglas McDowell, head of client investment strategies
-
Special Report
Equity Sectors: The best form of defence
If you must hold equities, during volatile times it pays to be invested in the ‘safest’ businesses. But Martin Steward finds a changing world challenging old assumptions about which sectors contain these defensive stocks
-
Asset Class Reports
Small & Mid-Caps: Bulls and bears square up
Being on the defensive has paid in 2011, writes Martin Steward. But the US is a confusingly mixed prospect for the coming year