All Asset Class Reports articles – Page 20
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Asset Class Reports
Investing In Global Equities: Global rotation
Martin Steward finds pure value and pure growth strategies starting to take the lead as the quality theme begins to run out of steam
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Asset Class Reports
Interview - DMO:We want to hear from you
Robert Stheeman, CEO of the UK Debt Management Office, tells Taha Lokhandwala about the importance of ongoing dialogue with institutional investors
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Asset Class Reports
In-house strategies offer greater advantages
On The Record: Do you use external hedge funds?
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Asset Class Reports
Beleggersberaad 2014: Managers sing praises of frontier markets
Emerging market debt (EMD) has matured and could now act as a “useful addition” to a pension fund’s fixed income portfolio, according to Roy Scheepe, senior client portfolio manager at ING Investment Management.
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Asset Class Reports
Dangerous liquidity
Following another summer of high-yield bond market volatility, Emma Cusworth asks whether ETFs are to blame for credit markets getting riskier
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Asset Class Reports
High-yield Bonds & Loans: Covenants and calls
Joseph Mariathasan and Martin Steward ask whether investors’ traditional protections are getting squeezed out in the convergence of high yield bond and loan markets
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Asset Class Reports
High-yield Bonds & Loans: Lien and healthy?
Jennifer Bollen finds booming leverage markets bringing second-lien debt back into vogue in private equity deals – and in Europe, that can mean mezzanine-like risk
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Asset Class Reports
High-yield Bonds & Loans: Slow but steady progress
While some European countries are making progress with respect to non-bank funding for mid-market businesses, others still have some way to go. Yet there is a growing appetite for the standardisation and transparency required to develop this market, write Alexandra Krief and Taron Wade
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Asset Class Reports
Time for some caution with this asset class
How do you invest in high-yield bonds and loans?
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Asset Class Reports
High-yield Bonds & Loans: Floored argument
More and more loans are being written with interest rate floors, at lower and lower rates. While these were a great feature over the past five years, Charlotte Moore asks whether they weaken investors’ floating-rate protection for the next five years
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Asset Class Reports
High-yield Bonds & Loans: Low yields, high alpha
With spreads so tight, high-yield has become even more of a bottom-up stockpickers’ market than usual. Martin Steward looks for themes in the top-performing portfolios
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Asset Class Reports
High-yield Bonds & Loans: Revolution from above and below
Few markets outside the emerging world have changed to the extent that European high-yield has over recent years. Joseph Mariathasan and Martin Steward find transformation coming from the massive to the micro, from above and below
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Asset Class Reports
Emerging Market Debt: Grade deflation
Take out the 2008-09 crisis, and the past 18 months have seen emerging market credit rating downgrades outnumber upgrades for the first time in over a decade. Joseph Mariathasan asks if the loss of momentum in ratings convergence is a sign of weakening fundamentals or a return to old prejudices
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Asset Class Reports
Emerging Market Debt: Default judgement
The US Supreme Court judgement that led to Argentina’s eighth debt default is an alarming precedent for both emerging and developed sovereigns, argues Rani Mina
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Asset Class Reports
Emerging Market Debt: Carry through the crises
Navigating the switch from fundamentals-driven volatility to carry-driven calm in 2013-14 has been a challenge for emerging market debt managers, Martin Steward writes. The eruption of political crises simply adds to the complexity
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Asset Class Reports
Emerging Market Debt: Bonds and the ballot box
Amid a rash of important elections, the rumble of ongoing territorial disputes, a deteriorating situation in coup-plagued Thailand and an alarming rise in tensions between Hong Kong and Beijing, Joseph Mariathasan looks into the impact of political risk on Asia’s bond markets
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Asset Class Reports
Investment Grade Credit: When the flows reverse
Jittery investors at the top of markets and liquidity mis-matches within investment products could exacerbate the current lack of market-maker liquidity in corporate bonds. Charlotte Moore assesses the risk
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Asset Class Reports
Investment Grade Credit: Worth the weight
Smart beta has taken the equities world by storm in the past three years, and practitioners are now turning their attention to bond markets – including credit. Joseph Mariathasan and Martin Steward look at some of the strategies becoming available
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Asset Class Reports
Investment Grade Credit: Electronic liquidity taps open up
A recent paper from Pictet Asset Management paints a picture of fast-diminishing liquidity, but also some innovative responses. Martin Steward reports
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Asset Class Reports
Investment Grade Credit: No bears threaten Goldilocks
After the big spread-tightening, managers warn against the shortest maturities and talk up senior bank debt, bottom-up bond-picking and relative value basis trades David Turner explores opportunities in the euro-zone credit sweet spot