Investment Strategies – Page 16
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Asset Class Reports
Private Equity: Let’s work together
Private equity co-investment looks like a great deal for limited partners. But Martin Steward finds that it is demanding enough to require intermediation, even for large investors withestablished general partner networks
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Features
Political decisions for investors
Helene Williamson outlines the complex process of assessing political risk in emerging markets and warns investors they ignore this risk their peril
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Asset Class Reports
Private Equity: For the lack of a Bloomberg
Private equity remains opaque, but regulation will improve transparency. However, argues Cyril Demaria, that could result in consolidation and rising fees for investors
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Features
Small is beautiful
Smaller companies make up the vast majority of the economy, are better-aligned with shareholders, more entrepreneurial – and not necessarily young and inexperienced. No wonder they both outperform and diversify large-caps, writes Nick Hamilton
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Interviews
A new titan in Asian equities
The timing could have been better. Just days before the finalisation of the merger of the Sumitomo Trust & Banking Co and Chuo Mitsui Asset Trust & Banking Co, the latter was fined by Japan’s Securities and Exchange Surveillance Commission (SESC) for an insider trading breach that took place nearly two years ago.
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Features
All change
Iain Morse finds that the creation of a single, mandatory central settlement depositary later this year will have wide-ranging effects on the trading and settlement of securities in Russia
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Features
A nugget of risk reduction
Marcus Grubb summarises a new study of the diversification benefits that gold offers to a euro-based institutional investor
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Special Report
Food for thought
Nina Röhrbein asks what pressure investors can put on food companies to improve their products and address health issues
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Interviews
Surviving the seven years of famine
Rogge Global Partners operates out of one of London’s most spectacular offices, the neo-Gothic Sion Hall, its traders toiling beneath the gaze of stained-glass images of heroes of the English Reformation.
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FeaturesIn defence of pro-cyclicality
Adina Grigoriu asks, is pro-cyclical risk management necessarily a cost – or can it be an unexploited source of performance?
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Asset Class Reports
Credit: What’s in a name?
Confusing terminology aside, ‘short-duration high-yield’ looks like a compelling opportunity for low-volatility yield pick-up. Martin Steward assesses the risks, and underlines the importance of defining objectives
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Asset Class Reports
Credit: Coupons and principles
While corporates increasingly have to turn to capital markets for funding, now is the time for investors to push their ESG requirements, writes Joshua Hughes
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Asset Class Reports
Credit: The cleanest dirty shirt
Non-financial corporate credit is perfectly poised for the macro environment, but spreads are tight – and other areas of the credit spectrum present considerable risks. Joseph Mariathasan reports
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Features
Low beta, high benefits
The significant outperformance of apparently ‘low-risk’ stocks over time is a well-known ‘anomaly’ in investment theory. Martin Steward asks, if it is an anomaly, won’t it eventually be corrected?
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Features
Custody and banking reform
Iain Morse asks whether European banking reforms will have an adverse impact on securities services providers
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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
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Features
There will be no escape
Iain Morse finds that custodians will face greater levels of liability for the assets they safeguard for clients under AIFMD rules
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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
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Asset Class Reports
European Equities: Stock prices follow earnings? Sometimes...
Frédéric Dodard looks at European stocks through the 1970s, 80s, 90s and 2000s and finds that the market will often pay much less for companies – or much more – than the fair price suggested by their earnings
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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
