Investment Strategies – Page 12
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Special Report
Assessing the Arctic
Nina Röhrbein questions the oil industry’s claims to have cleaned up its act enough after Deepwater Horizon to be trusted in the pristine waters of the Arctic.
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Features
Australia: gateway to Asia?
It is right on Asia’s doorstep, but James Dunn finds that outside the big resource names there is surprisingly little Asia exposure in Australia’s stock market
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Asset Class Reports
Emerging & frontier equities – The private market complement
Mark Mobius outlines why private equity is different in emerging markets from in developed – but also different from your existing public emerging markets exposure
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Asset Class Reports
Emerging & frontier equities – A turn in the cycle
There is a tussle between ‘quality’ and cyclicality among the top strategies in emerging market equities. Martin Steward looks at how three portfolios are shaping up for a possible turn in risk appetite
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Features
Don’t be surprised by inflation
Nicholas Johnson, Berdibek Ahmedov and Ronit Walny argue that now is the time to build a real asset bucket in diversified portfolios
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Asset Class Reports
Emerging & frontier equities – Tactical and strategic
As slowing growth depresses emerging market valuations, Joseph Mariathasan argues that this might be the time to adjust strategically for the new, long-term growth and risk paradigms
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Asset Class Reports
Emerging & frontier equities – The great melt-up
Capital flows into emerging markets suggest that valuations could be about to end their two-year slumber, argues Michael J Howell
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Interviews
Enjoying a Renaissance
Renaissance Asset Managers (RAM) has had a great run since it was founded as part of Renaissance Group, the Moscow-based financial services firm, in 2003.
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Interviews
Focus and flexibility
One can tell from the name ‘Alternative Investment Group’ that this is a more venerable fund of hedge funds, pre-dating the post-dot-com stampede: it’s not exactly ‘Google-search optimised’.
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Features
The inflation trade-off
Hedging against unexpected inflation can be costly. But Karsten Jeske and Anjun Zhou argue that active management can shift the efficient frontier in investors’ favour While inflation and inflation volatility were relatively subdued until the late 1990s, inflation volatility has picked up again in the 2000s. Evidence shows us that more uncertainty about inflation lies ahead.
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Asset Class ReportsHedge Funds: Alpha-hunting with funds of funds
Peter Meier, Oliver Liechti and Patrick Dütsch run hundreds of FoHFs through a factor model and find those focused on trading strategies delivering the best returns and the highest alphas
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Asset Class Reports
Hedge Funds: Changing rules
Joseph Mariathasan loks at the raft of regulation coming the way of hedge funds, focusing on the pros and cons of the EU’s AIFM Directive
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Asset Class Reports
Hedge Funds: Trust… but verify
Good hedge fund due diligence takes 120 hours plus 90 hours per year ongoing. But responsible investors have no choice but to do it, argues Jerome Lussan
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Asset Class Reports
Hedge Funds: Owning hedge funds
Neuberger Berman has launched Dyal Capital Partners to buy minority stakes in hedge fund businesses. Martin Steward reports on how it changes the dynamics for hedge-fund investors
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Interviews
Boutique ambition
Natixis Asset Management (NAM) might be less well known than other firms in the Natixis Global Asset Management (NGAM) empire, such as Boston’s Loomis Sayles or Chicago’s Harris Associates. But the Paris firm is by far the largest asset manager in its parent’s multi-affiliate structure in asset terms, in part thanks to its historic ties with France’s Caisse d’Epargne and Banque Populaire network, and its strong local roots.
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Asset Class Reports
Hedge Funds: Changing models
The fund of funds model is having to adapt fast to survive. Joseph Mariathasan finds that the new models also require a different approach to thinking about the hedge fund opportunity set
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FeaturesVolatility regimes and risk drivers
Using factor model to break down two similar-looking periods of declining implied volatility in Europe and the US, Rachael Smith uncovers surprising differences in the actual sources of risk
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Features
An equity substitute
David Newman argues that equities have a similar credit profile to high-yield bonds but offer less protection, worse returns and higher volatility. Add in low correlation, and there is a strong case for replacing some equity exposure with high yield
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Special Report
ESG: Sunny side up
Investors in solar power are responding to changes in the markets and finding new ways of gaining exposure, says Nina Röhrbein
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Asset Class Reports
Hedge Funds: Taking the ‘fund’ out of hedge funds
Martin Steward spoke to PGGM’s Jan Soerensen about how its managed account platform allows it to take control of its hedge funds – and their costs
