Investment Strategies – Page 8
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Features
Mixed evidence on financialisation
Lorenzo Naranjo and Carmen Stefanescu note that commodity futures volatility has been rising since the era of ‘financialisation’ – but also that the correlation with equity market volatility long pre-dates this period
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Special Report
Are loyalty shares a game-changer?
Nina Roehrbein asked Mirjam Staub-Bisang about sustainable investment in Switzerland
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FeaturesTime for an overhaul
With yields rising and pension schemes continuing to increase their allocation to bonds, Peter Ball asks how trustees can plug the deficit in their schemes
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Special Report
Transparency under the spotlight
The mandatory reporting regime of the UN Principles for Responsible Investment has caused controversy. But advocates say it will shine a light on ESG integration. Mark Nicholls reports
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News
FinEx Capital makes bid to acquire 100% of Dexia AM
Protracted talks with Hong Kong-based private equity firm GCS broke down in July.
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Special Report
ESG integration – no one size fits all
Nina Roehrbein surveys best practice among investment managers in ESG integration
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Interviews
Bradesco AM: Taking local global
Surprisingly, for its size, Bradesco has spent most of its first 50 years as a resolutely local firm
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FeaturesBe smart with smart beta
Stefan Dunatov emphasises the importance of consistency between strategy, investment beliefs and implementation when exploiting techniques like smart beta
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Asset Class Reports
Emerging Market Debt: Corporate issues
How will emerging market corporate debt fare through the first real challenge since it became a genuinely mainstream asset class? Federico Carballo and Florence Duculot offer their prognosis
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Asset Class Reports
Emerging Market Debt: The great correlation
Emerging market debt has been driven by Fed policy more than fundamentals
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Asset Class Reports
Emerging Market Debt: Re-calibrating risk
Early summer saw volatility back in global markets, and nowhere more so than local currency emerging market debt. Joseph Mariathasan dampens out the noise and re-assesses the underlying fundamental arguments for the asset class
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Asset Class Reports
Emerging Market Debt: Missing linkers
Emerging-market inflation-linked bonds are entering a new era. Martin Steward asks how they might fit into European institutional investors’ portfolios
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Asset Class Reports
Emerging Market Debt: Throwing light on the shadows
Joseph Mariathasan looks at the little-understood world of Chinese SME non-bank financing, which is fast on its way to becoming one of the world’s most important debt markets
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Features
Nurturing Europe’s mid-market
Taron Wade and Alexandra Dimitrijevic look into efforts to expand Germany’s Schuldschein debt private-placement market to the rest of Europe
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Features
More than meets the eye
The usual selling point for ETFs is that they are cheap, but that has rarely held for institutional investors. Anthony Harrington finds less obvious, but arguably more compelling, advantages
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Asset Class Reports
Structured Credit: Peripheral euro-zone ABS: a liquidity-driven rally
European asset-backed securities (ABS) markets may not be as attractively priced as they were immediately after the financial crisis, but they can still add useful diversification of credit risk and they may still even offer some value.
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Interviews
Beyond US sub-prime
If Philip Weingord, co-founder and CEO of Seer Capital Management, isn’t ‘Mr Structured Credit’, then co-founder and CIO Richard d’Albert would be just as good a candidate.
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Asset Class Reports
Structured Credit: Signs of life return to CLOs
Jennifer Bollen finds a re-birth in Europe’s CLO market, offering better pricing and lower risk – but facing significant obstacles to achieving maturity
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Asset Class Reports
Structured Credit: A turning point for European commercial mortgage-backed securities
Commercial mortgage-backed securities (CMBS) have not experienced the same dramatic rally and tightening of spreads as that seen in the market for residential mortgage-backed securities (RMBS). One might expect that their relative cheapness would therefore make the case for investment.
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Asset Class Reports
Structured Credit: Still to gather steam
Joseph Mariathasan finds investors ready to buy ABS, but the markets frozen by regulators still fearful of their role in the financial crisis
