Investment Strategies – Page 9
-
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
-
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.
-
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.
-
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
-
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.
-
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
-
FeaturesA high-yield lesson from history
Richard Ryan warns investors not to respond to apparently tight spreads in investment-grade bonds by simply stretching for the extra 260 basis points available from high yield
-
Features
Rating hybrids
Issuance of hybrid capital in Europe surged at the start of the year and is likely to remain elevated in the near term. Taron Wade discusses how such instruments are rated and why new issuers are getting involved
-
Special Report
Food for thought for animal welfare
The horse-meat scandal has alerted investors to the importance of animal welfare in the supply chain, finds Nina Röhrbein
-
Features
The case for the investment book of record
It is essential for investment decisions to be based on accurate and complete information, but obtaining that in the form of an investment book of record is easier for some asset managers than others, according to John Mayr
-
Asset Class Reports
Structured Credit: Wrong to buy?
Europe’s key RMBS markets remain subdued. Lynn Strongin Dodds reports on whether the lack of activity is just about bank stresses – or a more fundamental economic malaise
-
Features
If it looks like a duck
Hybrid corporate bonds are taking off as investors scramble for yield. But Martin Steward wonders if the hybdridity balance is shifting against investors
-
Features
Is history quietly repeating itself?
With the system already as heavily leveraged as it was in 2007, markets are hanging on every word from Ben Bernanke. Dan James thinks this only adds to the feeling of déjà vu
-
Special Report
With pensions in its sights
Mark Nicholls asesses the UK’s Green Investment Bank plans to target the institutional investment community, and pension funds in particular
-
Asset Class Reports
Credit: When the well goes dry
As market markers retreat, Joseph Mariathasan notes that bond portfolio managers are holding more cash, using more derivatives, focusing on primary issues – and preparing for liquidity to get even drier
-
Features
Rock ‘n’ roll yield
Music publishing rights are a proven inflation-sensitive cash-flow asset, and Martin Steward finds that fast-changing music consumption habits are generating not threats, but opportunities
-
FeaturesUnlocking alpha
New statistical techniques and the computing power to put them to work is opening a space for effective factor modelling of hedge funds, writes Robert J Frey
-
Special Report
Beyond microfinance
Nina Röhrbein finds evidence for a sea-change in impact investing with more varied products in developed as well as emerging economies
-
Interviews
Of orange blood and quieting storms
It has been a stormy four years at ING Investment Management – but the skies are finally starting to clear.
-
Features
Caution in the face of opportunity
Despite the growing clamour for funding, pension funds remain cautious about investing in infrastructure. Michael Wilkins analyses some of the barriers holding back potential investors
