Investment Strategies – Page 25
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Asset Class Reports
European Equities: Corporate strength abounds
The picture is complex, but in general low indebtedness and high return on equity will cause capital flows to CEE corporates, writes Juraj Kotian
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Asset Class Reports
European Equities: UK equities: The Liontrust approach
The UK equity market is still distinct from that of continental Europe because of factors such as its size, the large number of multi-nationals and mid-sized companies with global presence, and a still large domestic institutional investor base in the form of pension funds with relatively high domestic equity exposures.
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Asset Class Reports
European Equities: A heterogeneous marketplace
Top-performing European equity portfolios are both concentrated and very diverse in outlook and composition, finds Joseph Mariathasan
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Features
Belgium’s conservative custodians
Iain Morse finds regulation change may force some smaller captive custodians to re-think their business model
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Interviews
Breaking the bonds
Last month’s Strategically Speaking 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.
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Features
Call off the funeral
Since the dotcom bust investors have endured a long period of headlines announcing the ‘Death of Venture Capital’. So why are practitioners telling Martin Steward to expect a new lease of life?
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FeaturesForest funds snapshot
Céline Claudon presents the key findings from IWC’s comprehensive database of institutional timberland investment funds
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Special Report
Hedge fund paradox
Nina Röhrbein looks at how the few responsible hedge funds are reconciling their short-term outlook with the medium to long-term nature of ESG investing
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Asset Class Reports
Small & Mid-Caps: Global opportunities emerge
Surprisingly modest historical volatility and excellent diversification benefits: Rob Feldman, Chris Steward and Yogesh Borkar explore the under-analysed world of emerging market small-caps
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Features
Rare all-in business
The Danish pension and asset management industries are big enough to offer global custodians some glittering prizes. The mighty ATP, with assets in excess DKK610bn (€82bn) and effectively part of the state pension system, selected BNY Mellon as its global custodian in 2006.
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Special Report
Implementing ESG – the sustainable bank’s way
Some 75% of the core portfolios of KfW, Germany’s development bank, is managed sustainably, as Nina Röhrbein finds
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Asset Class Reports
Small & Mid-Caps: Small is beautiful
epoThe global small-caps universe is one of great diversity and opportunity. Joseph Mariathasan and Martin Steward speak to some top managers about their portfolios
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Interviews
Consolidating and concentrating
There has been a lot of change at Finasta Asset Management over the last two years. In 2009 parent company Finasta Group was sold by Lithuanian heavyweight Invalda to Bank Snoras, which had its own asset management outfit. This division was merged with Finasta Asset Management at the beginning of 2010, creating a rather odd-looking entity that was ripe for ‘synergies’.
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Interviews
Positioned for the new era in pensions
There are some clear long-term trends in pension asset management in Europe. Collective is giving way to individual provision. Defined benefit (DB) schemes are closing, crystalising liabilities and deficits, and implementing LDI programmes. This, together with accounting and capital adequacy standards and the decumulation phase of an ageing demographic, is pushing funds into fixed income. Where growth assets are still required, investors look beyond domestic markets because growth is expected to come from emerging economies.
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Features
Still at the station
Investors cursing themselves for missing the private equity secondaries train in 2009 can still get onboard, finds Martin Steward
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Special Report
Positive impact in Africa
A local presence and a tilt towards impact investing is the way to succeed on the final frontier, writes Nina Röhrbein
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Features
Russian bank roulette
Shares in the bigger Russian banks are spiking on the belief of further consolidation and privatisation in the sector, writes Richard Hemming
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Special Report
Fees: Beta-zero fees
Bernd Scherer tells Martin Steward that asset managers should take a good look at – and possibly hedge – the market risk embedded in their fees. How might that change the relationship with clients?
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Special Report
Fees: The big issue
Size definitely affects active management risks and returns, writes Matthew Craig. But the relationship is by no means a simple one
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Special ReportClean India
Kirsteen Morrison identifies some showcase opportunities in renewable energy, water and agriculture in India
