All articles by Martin Steward – Page 7
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Asset Class Reports
Global Equities: Value gets volatile
Diverging 2013 performance shows Martin Steward that injecting cyclicality and value has increased volatility and downside
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Special Report
Currency Management: Taming the FX volatility dragons
Even before the money set aside to pay back the US’s debts threatened to run out at the end of October
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Special Report
Currency Management: Keep your FX hedge options
The environment since 2008 makes the case for dynamic hedging.
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Features
A new chapter
Martin Steward speaks to Cecila Thomasson Blomquist at PP Pension, whose DB business relies on dynamic asset allocation around a solid real estate core, and whose DC business is undergoing major changes
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Features
The correlation breakdown is secure
You may have heard option traders talk about the ‘volatility smile’. Recent events might add a new term to the traders’ lexicon: the ‘risk-free yield curve smile’.
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Features
Will Draghi repeat Trichet’s mistake?
This month, one of the interviewees for our Strategy Review advises us to “look at the strength of the euro”
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Asset Class Reports
Sovereign Bonds: A wealth of opportunity
Martin Steward speaks with Stratton Street Capital, which believes a sovereign’s wealth determines the performance of its bond and currency markets
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Asset Class Reports
Sovereign Bonds: Tough at the top
Martin Steward finds life getting tricky for even the best active European bond managers
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Special Report
Real Assets: The real risk from real assets
What is a ‘real asset’? And why would an investor want it?
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Special Report
Real Assets: A raw deal from raw materials?
Poor performance is causing some investors to question why they got involved in commodities. But Martin Steward finds that now could be just the wrong time to sell
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Special Report
Real Assets: Staying tuned
Martin Steward found a different take on recent investor mood music around the asset class and a robust case for allocation when he spoke to one of the largest commodities managers
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News
Goldman Sachs AM plans 'big push' into UK fiduciary management
Asset manager aims to capture 10% of market flows, targeting mid-sized pension funds
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Special Report
Smart Beta: Re-balance of payments
Market-cap equity indices have come in for stiff criticism over recent years, but Martin Steward finds their shortcomings are nothing compared with the bond market. A new breed of indices attempts to address their worst failings
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IP Asia
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.
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IP Asia
Bringing the New World to the Old
by Martin Steward - Investec are the only firm that has successfully migrated from the Southern Hemisphere to build a competitive global position in institutional active asset management without a string of acquisitions - according to CEO Hendrik Du Toit
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IP Asia
A playground for event–driven managers
Martin Steward finds an unusual corporate event cycle teeing up opportunities for event-driven hedge funds – but not necessarily classic merger arbitrage or distressed debt
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IP Asia
Going down to the crossover
The hinterland between investment grade and high yield delivers an intriguing risk profile. But Martin Steward also finds that profile changing
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Asset Class Reports
Private Equity: What are funds of funds for?
Our main article identifies mid-market strategies and emerging markets as the key areas of future earnings growth in private equity. It has to be said that funds of funds providers tend to prefer this space in the US and Europe, arguing that returns are likely to be better and that they themselves cannot add much value by investing in the handful of mega funds that large institutions can invest in directly.
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IP Asia
New era for multi-asset managers
Martin Steward recently looked at how the dynamics of ageing, pension fund decumulation and tighter capital adequacy had influenced Schroders’ transformation from UK equities investor to global multi-asset manager. In this article he takes another example – PIMCO.